Compass » Money Wise

National Mincemeat Day  – Today on MoneyWise, Howard Dayton and Steve Moore discuss the importance of following God's principles so we don't make mincemeat of our personal finances. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "I'm trying to decide if I should go back to school to get my Bachelor's degree. I don't want to get caught up in a ton of student loan debt. Can you give me some advice?" "I'm retiring soon and I have about 70K in my TSP account. I must withdrawal all of it because of an earlier withdrawal. How do I do this to avoid the huge federal tax?" "Does it matter if I wait until closer to the payment date of my credit card bill as long as it is not late?" "When it comes to life insurance, what is the difference between term, whole and universal, and what are the benefits to each type?" "I'm a salesman and have irregular income. Is there a way to budget when I do not know what my income will me on a monthly basis?" "What is the difference between a bank and a credit union, and do you recommend one over the other?" "Can I write off the gas I use on my way to and from work?" Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!

Financial Freedom  – Today on MoneyWise, Howard Dayton and Steve Moore discuss the Biblical principle seen in Proverbs 22:7. They examine how indebtedness can put us in a position of bondage. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "I live in a mobile home and it is almost completely paid off. I am trying to become completely debt free and I was wondering if I should stay where I am in the mobile home and continue paying the monthly lot rent, or should I move into a house where I won't have the monthly fee?" "My brother and I own a farm and would like to refinance. The bank sees it as an investment property so they are hesitant to lower the interest rate. Any suggestions?" "I'm recently remarried. My husband and I are trying to refinance our primary residence. Should we refinance and put him on the mortgage?" Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!

Why Are We So Easily Fooled?  – Today on MoneyWise, Howard Dayton and Steve Moore examine the human heart for clues as to why we so easily fall prey to scam artists. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "How can I best use the cash value in an unneeded life insurance policy?" "Can you help a couple who doesn't see eye to eye on how to get out of debt?" "How do I refinance rental property?" Mentioned on today's program was the Compass small group study, 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!

Investing Mistakes (with Mark Biller)  – Howard Dayton and Steve Moore welcome Mark Biller to MoneyWise. Together, they help us avoid some common investing mistakes and then turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "Are you familiar with an '801(k) Dividend Reinvestment Plan'?" "What are our options for re-investing a lump-sum pension benefit?" "At what point do we no longer need life insurance?" Mentioned on today's program was the Compass small-group study, 'Set Your House in Order''.  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 Trap of Sudden Wealth  – Today on MoneyWise, Howard Dayton and Steve Moore offer counsel on how to handle an unexpected windfall. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "How can I re-finance with no equity in my home?" (check out Harp 2 and BankRate.com) "How would you advise a single young man just starting a career and looking for a home'"' "Should I use my 401(k) to pay off student loans?" "What's that special gift-tax exemption that expires the end of this year?" "Should I stop making my house payment in order to force my mortgage company to re-finance?" "What can you tell me about FHA home loans?" Mentioned on today's program was Howard's book, 'Your Money Counts', as well as two of the Compass small group studies, 'Money and Marriage God's Way' and '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!

The Atomic Clock - Howard Dayton and Steve Moore tell us what time pieces can teach us about achieving true financial freedom. Next, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: I may be moving into full-time ministry. What should I do about health insurance? I share properties with my mother. She wants to take out a loan on one of the properties. Should I agree to this? We are going to be receiving an inheritance soon. Should we use it to pay off our house? 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!

Investing in People - Howard Dayton and Steve Moore reveal the most important investment you can make as a Christian. Next, they answer calls and questions at (800) 525-7000 and MoneyWise@compass1.org about the following: My daughter will be heading to college soon. Should I go back to work full-time to help cover college costs? Should we take cash from emergency savings to pay off a car loan? I have $10,000 in cash and I'm not sure what to do with it. Should I save it or invest it? 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!

Renting a Handbag - Howard Dayton and Steve Moore use an usual example to illustrate Biblical contentment as it relates to money and possessions. Next, they answer calls and emails at (800) 525-7000 and MoneyWise@compass1.org about the following: Is it worthwhile to refinance a house we may be selling within a couple of years? Should I take out a car loan to upgrade to a reliable vehicle and build my credit? How should I invest cash currently in a savings account and is a 401k the right place for my retirement funds? Should I sell my boat to pay off my house? Can you recommend any good books on running a Christian business? 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!

Raising Adult Children  – Howard Dayton and Steve Moore offer guidelines for raising financially responsible children and then setting healthy boundaries as they enter adulthood. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "How can I best prepare for a looming layoff at work?" "How do we safely close out multiple credit cards?" (Howard recommended AnnualCreditReport.com) "Are there legal grounds for not paying income tax?" "How do I correct a mistake on my credit report?" "What's the difference between a credit report and a credit score?" (Howard recommended CreditKarma.com) Mentioned on today's program was Howard's book, 'Your Money Map' and 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!

Investing in an Uncertain Economy (with Dave Szafranski)  –  Howard Dayton and Steve Moore welcome Dave Szafranski to the program for a look at the coming elections and how they might impact our financial future. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "What do you think about invest retirement funds in a Thrift Savings plan and A-rated insurance companies?" "What can you tell me about investing in individual bonds?"' "What's the best way to save for my grandchildren?" (Howard mentioned CollegeSaving.org) "How do I deal with retirement money from a former employer?" "Can my spouse and I open a joint Roth IRA?" 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. You can contact Dave Szafranski at 800-344-2534 or online at RaymondJames.com/EIG. Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!

Who Needs a Budget?  – A budget is a plan for how you're going to spend your money. Today on MoneyWise, Howard Dayton and Steve Moore tell you how use a budget to set healthy boundaries in your financial life and create healthy communication in your marriage. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "We're in great financial shape and thinking of investing in rental property as a long-term investment - any advice?" "I'd like to get my mom's name of my student loan, but my payment has been late many times and that's making it difficult'"' "How do I check out the legitimacy and efficiency of non-profit organizations?" "I live on a very limited income, but need a car - what are my options?" "What's the difference between faith and presumption when preparing next year's church budget?" "What's the best way to make a will?" "What is automobile 'GAP" insurance and do I need it?" Mentioned on today's program was the Compass Map and Howard's companion 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!

Surviving on the Trail to Financial Freedom  – Howard Dayton and Steve Moore  help you protect yourself against unscrupulous 'credit repair' companies, predatory lenders and the like (Howard recommended CredAbility.org). Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "How do i help my children secure a credit card?" (Howard recommended BankRate.com) "We're about to sell my 76-year-old mom's home - where do we invest the proceeds?" "What is a gold 'certificate', and would you recommend it as a way to invest in gold?" 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 and radio archives. Thanks for your prayers and generous financial support which allow us to keep Money Wise on the air!

Instant Gratification - In today's culture, we're urged to the live for the moment and buy impulsively. But as Howard Dayton and Steve Moore reveal, the Bible offers very different advice. Next, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: Where do you draw the line when it comes to giving to family? Should I use money from an insurance pay out to pay off my home? What is an ARM and do you recommend that kind of mortgage? Could you please share a few scriptures on paying off debt? What kinds of insurance coverage should I carry on a paid-for car?  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!

Housing and Real Estate - Howard Dayton and Steve Moore are joined by author and mortgage expert Dale Vermillion to the ever changing housing market. Next, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: Should I help my son pay off his home? Can refinancing your home help you pay off your mortgage sooner? My current lender says there cannot refinance my loan. What are my options?  Lear more about Dale Vermillion at DaleVermillion.com. 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!

Entertainment/Recreation and Your Budget  – There's a God-ordained purpose for rest and recreation, but, without a plan,   it can wreak havoc on your budget. Today on MoneyWise, Howard Dayton and Steve Moore  help you restore balance to your recreational spending. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "As a young, growing family, what do we need to think through before buying a home?" "I'm over my head in debt - what are my options?" "What do you think of investing in 'junk silver'? How about gold and silver parties?" Several helpful resources were mentioned on today's program, including;  the 'Set your House in Order' workbook, Howard's book, 'Your Money Map', the small-group study, 'Navigating Your Finances God's Way',  CredAbility.org and Compass coaches. 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!