14 episodes

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MoneyWise is a daily radio ministry of MoneyWise Media. Hosted by Rob West and Steve Moore, the program offers a practical, biblical and good-natured approach to managing your time, talents and resources.

MoneyWise Rob West & Steve Moore

    • Christianity
    • 4.9 • 49 Ratings

To support this ministry financially, visit: https://www.oneplace.com/donate/1085

MoneyWise is a daily radio ministry of MoneyWise Media. Hosted by Rob West and Steve Moore, the program offers a practical, biblical and good-natured approach to managing your time, talents and resources.

    Overcoming the Covid Credit Crisis with Neile Simon

    Overcoming the Covid Credit Crisis with Neile Simon

    To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

    As vaccines roll out, we may soon see light at the end of the tunnel for the Covid crisis. But it may take years to overcome the credit crisis in its wake. The loss of income during the pandemic forced many Americans, maybe you, to rely on credit and run up balances. Today, host Rob West talks with Neile Simon of Christian Credit Counselors about a way to speed up your financial recovery process. Neile Simon is the director of Strategic Partnerships at Christian Credit Counselors. Then we take your calls at 800-525-7000.

    Maybe not since the Great Depression did we see such sweeping job loss and income reduction as we did last year and it continues to take a heavy toll on personal finances. Many people are behind on their bills and have run up credit balances just to keep their heads above water.
    Finicity conducted a survey of over 2,000 US consumers to learn the extent of the impact on their finances.Over half of those surveyed said they experienced temporary or permanent job or income loss from COVID-19. And the majority of those affected said they were having difficulty staying current on bills.
    15% of those impacted by the Covid crisis say they’ve experienced a permanent job loss or income reduction.
    The Finicity survey revealed that folks with annual incomes below $50,000 have suffered the biggest impact.
    The Covid crisis has caused many people to be in debt because of many factors; Kids are at home classes which causes lost hours for parents not able to go into the office to work, many relief programs ended, unemployment ended, many people have higher grocery bills and higher utilities from being at home, and the uncertain future is no light at the end of the tunnel.
    Christian Credit Counselors can offer guidance to those struggling to make ends meet. There are counselors and budget coaches to help you get back on track.
    Is it also wise to connect with your local church, family, friends, or small groups to seek assistance.
    If you are in trouble with credit card debt, the first thing you should do is make a budget and determine your needs vs. wants. It is vital to only spend intentionally and to be open and bold with people who might be willing to help. Contact your lenders and let them know of your situation.

    To learn more aboutChristian Credit Counselors visit their website at ChristianCreditCounselors.org or call 800-557-1985.


    Here are a couple of questions we answered from our callers on today’s program:

    I will be receiving survivors benefits soon. I don’t plan to retire any time soon. I have a 403A through my employer. How should I use this money? Retirement or mortgage?
    A neighbor of mine is an insurance agent. She has been trying to sell us insurance for our children. Should I use my extra income and take out a separate life insurance policy for my children, or put it in a 529 plan?


    Ask your questions at (800) 525-7000 or email them toQuestions@MoneyWise.org. Visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, purchase books, and even download free, helpful resources like the MoneyWise app.

    Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab at the top of the page.

    More Money, Less Joy?

    More Money, Less Joy?

    To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

    The 18thcentury Irish statesman Edmund Burke once said, If we command our wealth, we shall be rich and free. If our wealth commands us we are poor indeed. We often think that if we had a bit more money, our problems would be solved. The trouble is, that’s rarely how things work out. Today, host Rob West and Steve Moore talk about the ways money can affect our happiness.

    1 Timothy 6:10 reads, For the love of money is a root of all sorts of evil and some by longing for it have wandered away from the faith and pierced themselves with many griefs.

    Expecting that more money will always make your life better is a recipe for disappointment.

    You often hear the phrase money can’t buy us happiness but then everything around us tries to convince us that it can.

    More money can actually lead to less joy in your life. The greater your wealth, the greater a burden it puts on your life.

    John D. Rockefeller, who earned about $420 billion through the Standard Oil Company, said plainly, I have made many millions, but they have brought me no happiness.

    In Ecclesiastes 5:10, Solomon writes, He who loves money will not be satisfied with money nor he who loves wealth with his income this also is vanity.

    Ron Blue put it like this, It doesn’t matter whether you make $20,000 or $200,000 per year. You will always have choices to make. More money simply means more choices. And more choices mean more complexity, more confusion, and more time spent mulling over options. Taken together, all of these things add up to less freedom.

    The more you have in your home or investment accounts, the more you have to lose.

    The only way to get rid of your financial fears is to acknowledge that it’s not your money. You are merely a steward of the resources God entrusts to you.

    Here are a couple of questions we answered from our callers on today’s program:

    Do you know of any faith-based ETFs or mutual funds available? (Rob mentions FaithDrivenInvestor.org)
    I have a $60,000 inheritance from my grandfather. Do you think it would be best to keep it in the bank or to invest it somewhere?


    Read more inWealth Paradox: Money and Happiness.
    Ask your questions at (800) 525-7000 or email them toQuestions@MoneyWise.org. Visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, purchase books, and even download free, helpful resources like the MoneyWise app.

    Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab at the top of the page.

    • 24 min
    The One Guaranteed Investment with Howard Dayton

    The One Guaranteed Investment with Howard Dayton

    To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

    Everyone likes a sure thing especially when it comes to his or her investments. But what if we gave you a tip that’s more valuable than a roomful of gold?Does such a thing exist?In his book, Your Money Counts, Howard Dayton includes a chapter called The One Guaranteed Investment, so Rob West and Steve Moore invited him onto the program to let us in on that secret.

    In his late 20s, Howard was a young businessman driven by the pursuit of money.He was attending a weekly breakfast meeting with some other young businessmen and says he was impressed not only by how they ran their businesses, but by the way in which they lived their lives.That was key to the One Guaranteed Investment he talks about on the program.

    Next, Rob and Steve answer some questions from our listeners:

    My husband passed away several years ago.Money was always tight but, for the past several years, I’ve tried to save some money and give some.How do I know what God wants me to do with the little I have?(Rob spoke with this caller and then connected her with a free MoneyWise Coach to talk with her and give her more help off-the-air.You can connect with a free MoneyWise Coachhere.)
    I was on a previous program with a question about refinancing my mortgage.I was asked to get additional quotes from other lenders.I’ve done that, but want to make sure I’m on the right track now.


    If you have a question you’d like to ask on the program, call (800) 525-7000 or emailQuestions@MoneyWise.org. Visit our website atMoneyWise.orgto connect with a MoneyWise Coach, purchase books, and even download free, helpful resources like the MoneyWise app.

    Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab at the top of the page.

    Discipline and Freedom: A Paradox

    Discipline and Freedom: A Paradox

    To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

    Solomon had enough wealth to do whatever he wanted, yet he writes in Proverbs 25:28,A man without self-control is like a city broken into and left without walls.In other words, left to our own whims and desires, we self-destruct. In order to be free, we must have discipline.It’s a bit of a paradox as Rob West and Steve Moore point out on the program.

    A paradox is something that seems to contradict itself.It seems to mean one thing, but actually means the opposite.This can be true of both discipline and freedom.

    Discipline as a verb means, to teach.A disciple is a student.Discipline also has a negative connotation.We often use the word to mean punishment.We see it as being restrictive or limiting our ability to do what we want.Given our nature, we’d rather not limit ourselves.The paradox is that discipline, or self-restraint, doesn’t really limit us, but rather focuses our options.In the case of money, living on a budget helps us spend our limited resources in a way that yields the best results.

    Freedom also has a negative and positive connotation.Financially, we think freedom means we can have anything we want.But unless you have unlimited amounts of money and pay cash for everything, there are limits to what you can buy.Spending more than you have brings on debt, which scripture says is enslaving.That’s the opposite of being free.
    True freedom requires discipline or it leads to disaster. Discipline only appears to constrain us while freedom only appears to allow us to have anything we want without earning it.The opposite is also true.Without discipline there can be no real freedom. Hebrews 12:11 reads,For the moment all discipline seems painful rather than pleasant, but later it yields the peaceful fruit of righteousness to those who have been trained by it.

    Next, Rob and Steve answer some questions from our listeners:

    I’ve heard you say that you should only keep two credit cards in order to help your credit score.Why is that?

    We’ve sold our 15-acre farm.We now live in a camper on an acre of land that we’d ultimately like to build on.Is there a specific type of savings account we can put our money in that would earn some interest and help us save up toward building our next home.(Rob suggested online, high-yield savings accounts.He mentionedBankRate.comas a resource to compare banks.Three banks he likes areAlly,Capital One 360, andMarcus.)
    I want to refinance my mortgage and shorten the term from 30 years to 15 years.The amount I pay each month would go up and the lender wants to add the closing costs into the amount of the mortgage, but the PMI will drop off.Is this a good deal?
    I’m interested in faith-based investing.Can I do that through my 401k at work?(The caller referencedInvestEventide.com. Rob also suggested going toFaithDrivenInvestor.org.)


    If you have a question you’d like to ask on the program, call (800) 525-7000 or emailQuestions@MoneyWise.org. Visit our website atMoneyWise.orgto connect with a MoneyWise Coach, purchase books, and even download free, helpful resources like the MoneyWise app.

    Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab at the top of the page.

    The Nuts and Bolts of Saving

    The Nuts and Bolts of Saving

    To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

    Go to the ant, O sluggard; consider her ways, and be wise. Without having any chief, officer, or ruler, she prepares her bread in summer and gathers her food in harvest.Proverbs 6 tells us it doesn’t take a genius to save yet so many people have trouble even getting started and live paycheck-to-paycheck. Today, Kingdom Advisors President Rob West tells us how to break that cycle. Then it’s your calls at 800-525-7000.

    First, another way to define saving is living on less than you earn, having money left over at the end of the month that you can then put to work for you either in a savings account or a retirement account.Once you do this consistently it prevents you from going into debt and opens up all kinds of possibilities.
    Start by tracking all of your spending for at least a month.Write down every penny you spend in a notebook, or better yet, download the free MoneyWise App and log in your purchases there.
    Then you decide where youwant it to go. And that means drawing up a spending plan that covers all of your monthly obligations and assigns a set amount to categories where you have some control.
    The idea is to set up a budget that leaves money left over at the end of the month so you can begin to build up an emergency fund for unplanned expenses. Eventually, you want to have 3 to 6 months living expenses saved up.
    Now that you have your budget in place and you know how much you should have left over at the end of the month go ahead and put that amount into savings. This is sometimes called paying yourself first.This will help you psychologically to stick to the budget.
    A lot of savers pay as they go. They use only cash, checks or debit cards to pay for their regular expenses. No credit cards.
    Make a list before going grocery shopping and stick to it. Never shop as entertainment. And look for other ways to save. Lower the thermostat in winter, raise it in the summer. Pack a lunch instead of eating out. Bundle your trips to save on gas.
    You can also contact one of our MoneyWise coaches. They’re well-trained, godly folks who’ll help you set up a realistic budget with money left over. And they’ll encourage you along the way. Just go to MoneyWise.org and click the Connect with a Coach button.

    Here are a couple of questions we answered from our callers on today’s program:

    I heard you mention only utilizing 30% of your credit. Is it only 30% of an individual card or the whole credit umbrella?
    My husband needs to build his credit back. What is the best way for him to do this? We need to buy a new car. Should we try and put it in his name?
    I’ve just moved to Florida and I spent a lot in the move. Should I refinance my home to pay off credit cards, or should I look into a reverse mortgage?
    I’ve heard you speak of long term care insurance. Instead of this, how do you feel about QLACs?

    Ask your questions at (800) 525-7000 or email them toQuestions@MoneyWise.org. Visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, purchase books, and even download free, helpful resources like the MoneyWise app.

    Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab at the top of the page.

    Buy Now, Pay a Bunch Later

    Buy Now, Pay a Bunch Later

    To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

    During the Covid crisis, online shopping has increased dramatically. Along with it, there’s been a surge in buy now, pay later deals. If you’ve been online shopping, you’ve likely seen them, but is buy now, pay later really a good deal? Today, host Rob West and Steve Moore reveal the perils involved with this deal.

    With buy now, pay later deals, there’s usually a statement saying something along the lines of, By the way, while you’re not making payments until whenever, we’re adding as much interest as the law allows to your balance, but you won’t’ see that until your first bill comes in.

    This means you owe not only the balance but all delayed interest charges as well.

    Ask yourself, do you have the money to pay off the complete balance in your savings or checking account?

    Instead of buying things new, go to Goodwill or some other thrift store and buy something decent for much less money.

    Start saving for the nicer things you really want, discipline yourself to put money away every month.

    Search your heart for why you feel discontent. Ask God for discernment and peace. Truly trust that God will provide for your needs. Mark 11 says, Therefore I tell you, whatever you ask in prayer, believe that you have received it, and it will be yours.

    Here are a couple of questions we answered from our callers on today’s program:

    I’m 62 years old, will retire at 67. I have two retirement accounts that total $50,000. My son is the beneficiary. Do I need a separate life insurance policy for him?

    I have a life insurance policy that’s whole life. If I cancel it out, I’ll receive enough money to pay off my last credit card and be fully debt free. Should I do it?


    Ask your questions at (800) 525-7000 or email them toQuestions@MoneyWise.org. Visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, purchase books, and even download free, helpful resources like the MoneyWise app.

    Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab at the top of the page.

Customer Reviews

4.9 out of 5
49 Ratings

49 Ratings

BarleyOtis ,

Best money advice show on radio

Rob and Steve give the best holistic advice that’s available. All their advice is based on Biblical wisdom that transcends time, economic cycles, and culture.

Jodylleigh ,

Christian finance advice at it's best!

I love this show and listen to it daily on the radio. I am so thankful that there is a podcast for when I miss an episode!

ERBJR ,

MR

I've applied a lot of the ideas that I've gleaned from these podcasts and am very pleased with the results!

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