Compass » Money Wise

Getting Good Counsel  – Howard Dayton and Steve Moore  discuss the value - and danger - of seeking the counsel of other, as well as where to find good counsel. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "As a single mom, where can I invest an inheritance to multiply it for me and my children?" (Howard recommended SoundMindInvesting.com and KingdomAdvisors.org) "What's the difference between term and whole life insurance, and which is better for a 40-year-old man?" "I've recently lost my job and am in debt - how can I get this debt paid down and restore my credit?" (Howard recommended CredAbility.org) Mentioned on today's program was  Howard's book, 'Your Money Counts'. Be sure to check out the Compass website for a complete listing of helpful resources and radio archives. Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!

How To Determine What To Buy and How Much To Spend  – How do our everyday purchases reveal our value system? Today on MoneyWise, Howard Dayton and Steve Moore offer guidelines for making wise spending decisions. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "Is it more important to pay off my low-interest student loan or get my retirement fund started?" "We've lost our home - what's our next step? Should we consider bankruptcy?" "As a young husband and father, what are my first steps for getting our finances on track?" Several helpful resources were mentioned on today's program, including the Compass small-group study, 'Navigating Your Finances God's Way',  the Compass Map. Compass coaches and Howard's book, 'Money and Marriage God's Way'.  Be sure to check out the Compass website for a complete listing of helpful resources, radio archives and calculators. Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!

Pre-Marital Discussions about Money  – Today on MoneyWise, Howard Dayton and Steve Moore  identify issues that need to be discussed before you say, 'I do'. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "The lack of home 'comps' in my area are making it difficult to convert my construction loan into a conventional loan" (Howard recommended checking out the 'Harp 2' program /MakingHomeAffordable.gov) "What are our options for dealing with a second home? Sell, move, re-finance, rent?" "How do I balance God's command to give generously with his command to look ahead and plan for the future?" Mentioned on today's program was  the 'Set your House in Order' workbook. Be sure to check out the Compass website for a complete listing of helpful resources and radio archives. Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!

Teaching Teens the Value of Hard Work  – Howard Dayton and Steve Moore  stress the importance of modeling and providing work opportunities in teaching your children and teens to work productively. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "How do we prioritize debt pay-off with our long-term goal to build a home?" "Is a traditional IRA or a Roth IRA better for someone who's getting a late start on retirement saving'"' "I'm 70 and thinking of moving some retirement funds into rental property - what do you think?" Mentioned on today's program was the Compass Money Map. Be sure to check out the Compass website for a complete listing of helpful resources, radio archives and calculators. Thanks for your prayers and generous financial support which allow us to keep Money Wise Weekend on the air!

Don't Get Taken for a Ride on Auto Repairs - Howard Dayton and Steve Moore offer tips for saving money on auto maintenance while avoiding repair ripoffs. Next, they answer calls and questions at (800) 525-7000 and MoneyWise@compass1.org about the following: Our son has left his wife and children, and now his wife is asking us for financial help. Should we get involved? I've heard that the higher your credit score is, the lower the down-payment needed for a home. Can you explain how this works? I cosigned for an auto loan for my daughter. That is now preventing me from getting a loan. What should I do about this? Be sure to check out the Compass website for a complete listing of helpful Compass Resources and radio archives. Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!

Planning for the Uncertain - Howard Dayton and Steve Moore offer Biblical guidance on preparing financially in uncertain times. Next, they answer calls and questions at (800) 525-7000 and MoneyWise@compass1.org about the following: We are looking at buying a home, but our tax returns don't show enough income to qualify for a loan. What do you suggest? Should I look at doing a reverse mortgage in the near future or simply refinance my home? I have an opportunity to receive a pension benefit as a lump sum or a monthly annuity. Which way should I go? I have a debt in collections, and it has now been taken to court. What should I do now? Be sure to check out the Compass website for a complete listing of helpful Compass Resources and radio archives. Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!

Talking Mortgages with Dale Vermillion  – Howard Dayton and Steve Moore welcome mortgage expert Dale Vermillion (DaleVermillion.com) to discuss 'Reverse Mortgage' scams and the pros and cons of the 'Harp 2' program. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "How do I re-finance a piece of rental property?" "How do I finder a lender who'll re-finance a modular home?" (Dale recommended BankRate.com) "Serious health issues have caused a lender to turn us down for a re-fi - what else do we try?" Mentioned on today's program was the Compass Map and Howard's book, 'Your Money Map'.  Be sure to check out the Compass website for a complete listing of helpful resources, radio archives and calculators. In the opening conversation, Dale Vermillion mentioned several helpful websites: HUD.gov (FHA Reverse Mortgage site) and MakingHomeAffordable.com (Harp 2 site). Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!

Giving from Love  – Today on MoneyWise, Howard Dayton and Steve Moore look at the importance of giving with the right motivation. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "Would it be wise to take my pension early to pay down debt?" "Cash flow problems are hurting our business and personal finances - can you offer some insight?" "Does it make sense to cash in savings bonds early?" "How do I tell if a 'work from home' offer is legitimate?" Mentioned on today's program was the Financial Stewardship Bible.  Be sure to check out the Compass website for a complete listing of helpful resources, radio archives and calculators. Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!

What the Bible Says About Lending Money  – Lending money to someone can be a real blessing to them. It can also bring serious harm. Howard Dayton and Steve Moore offer biblical insight to help you discern when to lend. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "How do I prioritize pressing medical bills vs. building up my savings?" "Beyond a 401(k) and a Roth IRA, where should we invest for retirement?" (Howard recommending checking out SoundMindInvesting.com) "How do I deal with a credit card with a very high interest rate?" (Howard recommended CredAbility.org) Mentioned on today's program was the Compass small-group study, 'Navigating Your Finances God's Way'.  Be sure to check out the Compass website for a complete listing of helpful resources, radio archives and calculators. Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!

Understanding HELOC's  – Howard Dayton and Steve Moore  discuss the pro's and con's of Home Equity Lines of Credit and offer some serious warnings. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "We have some retirement funds in low-yielding CD's - is there a better place to invest?" "I need some insight on re-financing - combining a first and second mortgage'"' "Are there tax consequences to giving a home to my daughter?" Be sure to check out the Compass website for a complete listing of helpful resources, radio archives and calculators. Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!

The Word on Lawsuits - Howard Dayton and Steve Moore reveal what the Bible has to say about litigation and settling disputes. Next, they answer calls and questions at (800) 525-7000 and MoneyWise@compass1.org about the following: Should I take out a loan to pay for house repairs? My mother is in financial trouble. Should she file bankruptcy? Should we keep paying on our mortgage for tax benefits or pay it off ASAP?  Be sure to check out the Compass website for a complete listing of helpful Compass Resources and radio archives. Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!

Defining Wealth - Howard Dayton and Steve Moore offer insight into the Bible's definition of wealth and God's plan for your money. Next, they answer calls and questions at (800) 525-7000 and MoneyWise@compass1.org about the following: Would it be wise to continue renting or should I try to purchase a home? Should I retire now or wait four more years? Should I be worried about the value and stability of my savings bonds? Why should I save for the future, as opposed to trusting God to provide? I have been laid off. Do you have any tips for my employment search? Be sure to check out the Compass website for a complete listing of helpful Compass Resources and radio archives. Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!

So You're Thinking of Retiring  – Today on MoneyWise, Howard Dayton and Steve Moore offer counsel on using your retirement years most effectively. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "Should I put my stocks in a safer place until after the elections?" "How do I re-finance a home with an upside-down mortgage?" (check out Harp 2 and BankRate.com) "Do overdue medical bills affect my credit score?" "What does the Bible say about dealing with financial disputes?" "Where can my teenage son invest $1,000?" "Is it better to buy a used car from a dealer or an individual?" Mentioned on today's program was Howard's book, 'Free and Clear'.  Be sure to check out the Compass website for a complete listing of helpful resources, radio archives and calculators. Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!

Money and the Work Sphere of Our Lives  – Today on MoneyWise, Howard Dayton and Steve Moore offer counsel for keeping our work lives in proper balance. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "How should a recent college graduate view long-term investing?" "What are the pro's and con's of 'Harp 2' government backed mortgages?" (check out Harp 2 and BankRate.com) "Where should I keep my emergency fund?" "What do you think of the credit repair services I see advertised?" Mentioned on today's program was the Compass Map and Howard's book, 'Your Money Map''.  Be sure to check out the Compass website for a complete listing of helpful resources, radio archives and calculators. Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!

Bank Shopping  – Today on MoneyWise, Howard Dayton and Steve Moore discuss the important qualifications and services to look for when shopping for a new bank. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "The company I work for recently lost their contract. I was in their 401K program but now I'm not sure what to do. Could you give me some advice?" "My husband and I have significant debt. Should we still tithe to our church?" "I would like to get a streamline refinance on my mortgage. Could you point me in the right direction on how to do that?" Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!