The Importance of Having a Will

The will allows you to determine exactly where your assets will go after you die. Usually, however, that wasn't the case. One British man who left money to the Royal Society for the prevention of will, no doubt, that was supposed to read the section of birds, but the point is that will eliminate legal calls and provide mine for your errors spell everything out today host Rob West chats about that with our good friend and money expert from your calls on anything at 800-525-7000 four the importance of having a will not right here on moneywise line rubber guest Ron blue is the cofounder of kingdom advisors, a frequent speaker on all things financial and most important for today's topic is the author of the book splitting errors, giving your money and things to your children without ruining their lives. That's right, Steve and nobody better to talk about the importance of wealth transfer estate planning. In this particular topic of wills making your final wishes known Ron great to have you back with us on moneywise live always looking forward to Rob. We always enjoyed and know this is really an important topic will get into really the stark statistics that tell us how many people don't have a will and why this is so important. But what we start today.

I know you once counseled Ron a young widow whose predicament really underscored the need to prepare wisely for the future.

Once you begin today by telling us that story well actually lady that had been married a number had two daughters and had a business and she knew nothing about business and just was never ever involved.

So after they were reading the well attorney's office turned out the business were several million dollars and had all been left in trust with the bank controlling the asset and a daughter. The trustee should the window was provided for. If she needed some income before she could get anything out of that trust. She had to get permission from her daughter that was a devastating thing for her but it illustrated kind of a problem is not at all uncommon. Very little communication between husband and wife in the preparation of the will and doing a will and is a process and process that should occur more than once over time, for sure, but that was a really devastating situation for that. Maybe she was in tears as she told me the story that there was one thing that could be done about it had been done. Not well from a legal standpoint terrible from family standpoint, such a big part of this run because as you talk about wealth transfer is so much bigger than just the legal strategies and tools. Those really are just the implementation of your plans well thought out.

God directed plans and in the context of really effective communication because if you lack any of that the potential relational collateral damage is significant right heart sure is something that changes over time. Also, you do not have been married five years now and I don't know how many times we've done I will written on our wills, but circumstances have changed multiple times in our married life. Ages and circumstances of our children so if you don't plan you. Do you believe this position been estate in the guardianship of children and many many thanks to very courts you have no vested interest whatsoever in singular wills. Your well, no pun intended is is exercise where you would like to be exactly right. We got just about 30 seconds (had to break Ron I know you know the statistics well and that is what one study recently said nearly half of Americans over the age of 55 haven't drawn one up and so we come back to. After the short break, working to talk about why. Perhaps that might be, but will also go over the benefits of having a will will talk about who should have one and I get to your questions as well so give a question on wealth transfer or wills, things like that for Ron blue today. You can stick around answers to end-of-life choices and decisions. Get it in writing will talk some about that and will take some your calls to 805 five 7000 lines 800-5257.

Did you know not to do with your money and uncertain like to note ways to trim the budget and when you get those answers much more subsequent to the moneywise expert articles for your subscription free moneywise the magazine and moneywise my door. My friends and sound mind investing have been helping Christians reach their financial goals since 1990 with step-by-step guidance for investors. Just getting started making choices in a 401(k) or getting ready for retirement all grounded in God's word, yes my slogan is financial wisdom for living well. More information is available online. Sound mind investing the SMI website also includes a common money management and investing sound mind.org I was on the plane yesterday and just as we started the dissent. It started screwing. Many don't even notice that I really feel for them, the pressure changes that use and ice cream is a simple solution, of course.

Finally they kept sucking on the dummies, the pressure to equalize and the pain would be gone, but the more you try and help them with ice cream. Whenever the pressure changes. It's not a pressure life's pressures around us with family money, health, relationships you diamond and when the pressure changes it hurts and when it hurts, we scream sometimes on the outside, sometimes on the inside.

Now is a simple solution. Jesus, when he when he touches where it hurts. He knows how to ease nine but sometimes the more he tries to help the more we scream that is robbing you of freedom and peace of mind. Christian credit counselors can help where nationwide nonprofit counseling organization has helped over 3000 individuals in the last 27 years get out of credit card debt percent faster while honoring that debt and phone to learn how Christian credit counselors can help you visit Christian counselors.org Christian credit counselors.or call 800-557-1985 today is live where we do a very fast every day to remember that God owns it all. However, we are managers. The Bible says we are stewards same word essentially meaning that it's always his stuff that he allows us to manage form while were here now.

You can also do a little bit of management for when you're not here because leaving it all behind is the last great financial decision you will probably make with what gods bless you with and that includes what you leave behind to your errors is that adjuster children might be other children out and extended family. Oh what about sureties.

What about church. What about your children. Should you leave the same amounts to each child or do you to take a different approach depending on the situation. Your children are in all of that and much more today.

If you'd like to speak with Ron blue and that Rob bought Rob last I moneywise live and here's her phone number 800-525-7000 800-525-7000. Ron Steve was talking about something is very important and that is that you know a will is really your last stewardship decision. The passing of God's money to the next steward which really makes this as much a spiritual decision is.

Anything else is not true.

The first decision that needs to be made in the most life-changing decision is to decide the God of all, you can decide recognize that not affected is on it all and once you make that decision now your manager's resources and so I like to think that the second question is how much does he want me to keep not how much does he want me to get that much that they want me to keep and those that are fortunate enough to earn amount of money more than what they need. I think have the they do so and have the opportunity to give but the last assertion that you get to me make is choosing the next steward.

If you click on your steward and you were stewarding the assets by passing along to the next steward and the question is who is that and are they well-prepared and that's one of those really huge areas that very rarely gets done well well well that's what I so appreciate the work that you did on splitting errors years ago, giving your money and things to your children without ruining their lives really helping folks think through from a biblical perspective.

The principles behind how you effectively pass God's resources to the next steward Ron we were talking about this recent study that said nearly half of Americans over the age of 55 don't have a will.

Perhaps the reason one reason that is is that many of those folks think well that's for folks who have a lot more than I do.

I don't really need a will, like maybe I don't have enough for it. And yet that couldn't be further from the truth. This just a few of the benefits and really reasons why everyone needs a well you need it will in your married life because you need to determine going to be the guardian of your children. If, unfortunately both of you would die. You need to know the special circumstances that your children, your heirs will face you need to make a decision whether you want to include charitable giving in your estate planning and you know you may not have a lot of investable assets that almost everybody should have some life insurance so they're going to heaven and so you don't make the decision as to who gets what, when, and how then somebody else. Does not have your heart necessarily going to be making those decision and I think one of the biggest decisions that gets passed over almost 100% of the time is no charitable giving.

Well, it's just rare to see charitable giving and I will so many decisions other than the money side are impacted by what you put in your well I remember when my mother-in-law died and we were having the rating of the will to her three children. My wife and two brothers.

Neither one say neither one were married at the time, and her personal testimony was well in her desire for her sons to come to know Jesus as their Savior and that was my husband.

30 years ago now, but both of them have come to Christ and is very clear what she wanted nothing to do with money that had everything to do if eternity though many things in your will that you need to know. You need to talk about and why need to talk about that together that's certainly truth will if you'd like to talk about these things today with Rob Weston, Ron blue, now's a great time to call 800-525-7000. That's begin by going to Macon, Georgia Jennifer, what's your question, how can we help hi John, again I will all right Amy are you from, make you from making all right. Well we got an oil combined adult children and grandchildren. Even only what we read well different real estate and where wondering who should be in charge of epic to adopt children. I'm living John? I okay and maybe we don't want to ballet burden on our payment to know each other very well. They adult children you Niemi sounds like the best way to handle it because you have a good church that we found the last couple well the last couple years we can meet an attorney why you handle well and we thought about you shortly get them and let them be the one to hand out like a great question, Ron is obviously a complex situation blended family. We got kids, some of which may be all don't know the Lord don't know each other well. What are some principles that you might share with Jennifer is usually Amy to help her process. This well. I would like maybe the easiest way to begin to take each one of the children and asked the question if we left them and whatever the amount that you decide you're currently all you do, your children, your gun divided equally if you left that amount to a child. What's the worst thing that can happen, and then the second question is, what's the block likelihood or probability of that occurring. And lastly, is how serious is and remember come back to arrive at earlier and it is your steward of God's resources.

I believe that in many cases where you have on believing children is very reasonable to think about leaving your money to charity you as you get older your children become more independent and so it's not necessarily the money that's going to help anymore. They need to help baby in their 30s and 40s. More so than they do in their 50s and 60s and so as they know what happened with Judy and I the overweight got the last.

Our children need because they've already provided particular for college education for our grandchildren. They bought their homes and leaving money that might be nice but is not necessarily necessary for their well-being. So were really planning on getting almost all the way that that we are children, so I do think another you need some good Christian counsel as to how to deal with this because he you can answer this question without gathering a few more fractions or if you got an attorney after church that you have some confidence in it doesn't make them good just because they happen to go to church, but do they have the wisdom that they can help you think through the issues with your children and I would suggest that you're not going to get a quick answer I think is a lot of conversation over some time and I would look for why people give you counsel you might might find a Christian financial advisor or Christian attorney who can. Not necessarily tell you what to do but to ask you the right questions because only you can decide what to do and your advisors need to be scratch that they will ask you the right questions to cause you to think rightly in making these decisions at very very complex and your why even begin now by asking the question, what should we do that's right, questioningly.

Thanks for the counsel Ron and the magistrate Jamie the moneywise live.org. Click on find a CK that's a certified kingdom advisor. You can find the CK not only as a financial planner, but estate planning attorney there in Macon to perhaps help you navigate this and Ron after the break I like to unpack a little bit of what you just said you know you brought up something really important and that is asking the question what's the worst thing that can happen if I leave the money to this particular family member and what your driving out there is really the fact that if we leave money in the wrong situation where the next steward is not prepared.

Not only could it become problematic financially but also spiritually which should be a part of the equation so will unpack that the right around the corner, that's right. Ron came with us today were blessed to have and witnessed as sharing his wisdom, his knowledge from his book splitting errors.

There are chapters on transfer treatment timing, the titling decision and the big talk to you need to have with your loved ones before it all comes together.

This is moneywise live 800-5257 attention moneywise live listeners. If you don't like free stuff, please change the station now. Still with us great. You can get free access today to the new moneywise magazine packed with valuable expert articles, practical tips and biblical wisdom will even find exclusive podcast episodes. You won't hear anywhere else your money wisely magazines inscription is waiting for you moneywise live.org/sign-up to which the team spirit is free and work with me here work with me is the meaning and I want to clear terrible language. You probably know, the Howard Hughes story and I just bondage CD.

That's one thing (when you know what I'm 2 inches for Mac I'm telling you I'm never everything tells me of a strong everything is on thing when only the public wanted to get your letters in support this program. 687 60 many people are experiencing financial challenge downsizing that in jobs saving more than half of all divorces are the result of financial pressures at home, but there's hope in your money counts biblical financial expert Howard shows that the Bible is a veritable managing your finances will discover the profound relationship with God, your money counts is available when you click the start button moneywise live.org. The Bible says a lot about eternity in one aspect of that is leaving it behind and will all leave behind some today of the importance of having will and what all that involves here to give us wisdom on that is not only our host Rob West but also our good friend Ron blue and I were taking your calls at 800-525-7000. Ron just before the break, yet you brought up a really interesting question that you encouraged Amy to ask if she was considering her own estate plans and wealth transfer decisions and that is why leaving the money to this particular error and she would ask this question multiple times.

Obviously with a big family.

What's the worst thing that could happen and what you're driving at is that there are financial consequences to leaving money, but there perhaps are also spiritual consequences, how do you wrestle through that as you consider the possible outcomes of leaving money to a steward whose perhaps in some cases, prepared, or in other cases, ill-prepared well really difficult and I would say first of all, you need God's wisdom in this decision so you make a lot of you do a lot of this thinking on your needs and and it takes a while to process all of the applications but if you don't have to write questions you never get the right answer. So Judy and I went through a process. One of the things that we decided was that because we love our children equally and we have five we would treat them uniquely. And the reason for that is that each one of these children are in different stages and have different circumstances in life and God treat everyone of his children equally and he love uniquely, but he loves them all away, so thinking about passing on well think about each of the children as unique individuals and don't start out with the assumption that I got to treat everybody equally. Now that doesn't mean that you won't. But if you don't ask the question as to whether or not there are unique circumstances will never get the right answer. We have single mom for six years that that we treated special in our kids knew that counsel them because we love you equally. If you have any help, but that doesn't mean something equal for yourself a good point Ron, thanks the signal to call Grand Rapids, Michigan. See Grand Rapids, Michigan, WGN, B, and Adam, what's on your mind today. Well here's my I'm recently divorced as of 3 1/2 years ago. So needless to say, leaving nothing behind my spouse, because she had left me and I'm accumulating quite a bit and affect. Right now I own five houses and my immediate family members is my brother, sister, mother and father. They claim to be Christian, but their habits that they otherwise looking at the answer just as it was little bit of time left to your question is what you do. How do you manage this right on 34 years old right now so they live another 20 years. Needless to say, I'm probably going to have considerably more than I do now. I'm probably going to have several billion dollars in assets and with the way my immediate family of the work requested us to this line I don't get run away and right around the corner to request that we certainly don't want any warfare Adamson. Let's see if we can get beyond this with what God has in mind.

If that's not too presumptuous 805 five 7000. This is moneywise live and will be right back.

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I guess discussing the whole concept of leaving it behind. And though what does it mean to leave it behind who gets what Heidi work through those choices and decisions and just before the break we were talking with the Adam guys and he he's been divorced for about 3 1/2 years.

The rest of this family senior Christians. He doesn't see it in their lives. Necessarily, he just wants to be a good steward when you think you were on any thoughts or principles you might share with Adam on this. I I don't.

People typically don't naturally think of 20 years. You have to write your will is if you were going to die.

What would you do right now.

You only know what you know right now but every couple of years as circumstances change. So, can you think what I do right now if I die important thing I would tell Mary don't know what happened in 20 make a matter of prayer and we appreciate you holding and calling today Ron that we talked about this the importance of really talking through and perhaps making your wishes known, perhaps sharing the key pieces of your will with your family ahead of time to avoid unnecessary no infighting or problems in relationships than they can be caused through lack of communication.

What principles might you share about how much to share or not share with your errors prior to death.

Well, because on the eight errors when they're younger not understand so you don't. You probably have guardians for your children. But as they reached their 20 in the beginning they can understand. You begin to share principles and values with you don't necessarily have to shared the numbers, but if you're a believer you share how strongly you feel about the stewardship aspect of what you doing you what I tell you don't want to create a coping gap. You don't want your kids to hear for the first time what your desires were after your dad talk to them while you're still alive so that they can ask you questions about the dollars can be values and principles and processes and let them know that things change.

Also, they're not set in concrete, so and it's best as they get into their 20s and 30s and 40s that they do this together family conferences and in some cases the first time the family been together in years not easy situation, conversation, will sure when they don't they don't talk to yes so I really recommend a family conference periodically with your children run another difficult situation.

We hear from folks with questions on often and that is a second marriage. Let's see both husband and wife have the children from a previous marriage there bringing assets to the table, perhaps on both sides are one side and not the other and just wanting to think about a God honoring way to approach that in terms of their wealth transfer plans. How would you counsel that situation well. I would counsel that generally I was counseled against a printer and children. The second marriage I would recommend a prenuptial agreement, the assets were cumulated in one family room two different families and probably you want to handle the situation. Eventually families rather than both Judy's father died in my mother died in both of our parents got remarried and had prenuptial agreement so that the kids didn't share with the other side if you well in terms things that were left. So once again dictation is really important and conversation with even the kids letting them know it could be really really sticky when you have a second marriage. Therefore, you better have a real conversation before that and write it out and communicated well that's good thinking must take one more call before the next brick West Palm Beach Gina, thank you so much for your patience.

What's in your mind.

Thank you very much well I'm I'm I'm nice out and I know that I know friends and whatnot and I would like again. And I also like to give to all the programming from radio station Moody cell and I don't know all Moody like John MacArthur or David Jeremiah 20 Evans are they all Moody and all that.

I would like to get even knew you guys here, here included in it.

I want to get everyone to speak on the radio that I kind said that and then I want to get to animal kind making a smile program mercy chip. I want to get a lot more than what I can do everything well today. I appreciate so much your heart and I'd love for you to have a godly estate planning attorney to help you make sure that exactly what you want to do is documented appropriately and according to the laws of your state there in Florida so that your wishes are carried out and we can get your information.

Have somebody from the Moody radio team in that particular department call you back and talk to you about how you can make sure that particular portion of your estate desires are carried out, but having a godly estate planning attorney is really a key part of that and you can find some of their West Palm. If you don't already have one it moneywise live.org just click find a CK and then again if you hold on the line after this will make sure that somebody reaches out to you but Ron, any thoughts you have on Regina and by the way, I love that this really illustrates the opportunity to do giving at death and in her case, perhaps with a significant portion, if not all, of what God has entrusted to her will make her tribe increase and secondly it's not the amount of God's got all the resources you need the heart to give whatever she's going to give the attitude she's got going on that way. I need to be next to her when we get to heaven will is a tool or a plan. Ron that you like to help people who want to get to multiple ministries things like that. No, not really your I think God gives us different relationships in different blessings in our lives so you her thinking she'd been blessed by the radio.

Certain ministries of the radio. I think she's thinking well she's getting to where she has been blessed and that's what I think God would have us to do so again. They are dragging three Ron just got a minute left to so appreciate your wisdom and counsel on this topic today. This is so important as we said it's the last stewardship decision you'll make. And so part of being faithful in your stewardship is giving careful thought and prayer to these very issues in our final remaining second-tier what to what concluding remarks to have force well.

Just remember God's got the wisdom you don't have the wisdom necessary. So if you're not making these decisions on your needs with godly counsel near you're going to be confused and perhaps even careful. There are some really good advisors all over the country that can help you think through your situation. But the question so that you can decide what thanks Ron for being with us. Many people adopt an attitude toward marriage and finances. Then it will all work out somehow.

Sadly, it often doesn't financial woes can devastate a marriage but there is a better way. God's way, money, and marriage counseling by Howard Deaton will help you discover God's approach to growing your finances strengthening your relationship with your mate and cultivating godly joy, money, and marriage God's way and moneywise live.org and I'm here to help you understand God's purpose for your life to the eyes of a layman as a Christian, you're part of the family gets fully engaged in a team sport with a prize of the high calling hanging in the balance. This ultimate fighting on steroids because you're not wrestle against flesh and blood, but against your adversary the devil, who's competing for the soul of every person. God's place in your influence. Most importantly, your reader already under all our God doesn't hire part-time employees. You don't choose your own hours were you working for God. If you're serving God your full-time all the time, meaning every waking moment of your life, you're fully engaged in representing the Lord of Lords and the King of Kings. Even when you least expect it to expect God to use you to move someone closer to your job is ignite revival outside the walls in the church by moving everyone every day closer to Jesus. You need help doing that. Go to RTW.com serving 100 people, and most will say they believe in God maybe not in the same way.

But there is a basic belief. It's an important admission, but it's not. If God is real then we don't have creative license to make God whatever to God's reality won't change according to our perception, God will remain the same no matter what the real question is, some will say much when man once said strong faith and a strong get you across the river. Jesus Christ, the size of a small, strong where I think this friends may say they believe then tell them that.

Do you know if you have enough money house.

Do you know how much is enough.

If not, one blue can help with this book. Master your money a step-by-step plan for experiencing financial contentment. Learn how to save and invest and give wisely create a long-term financial plan and how to get out of debt. Find it all in master your money by Ron blue available when you click the start button moneywise live.org so financial situation right now does it involve your job doesn't involve saving or giving housing maybe buying insurance.

Maybe it has something to do with investing, which is the case right now with Steve calling from Green Bay, Wisconsin. What's up Steve. Steve will make this quick can hear on who due to the coated crisis was out of school for quite a while and got a job right away working 40 hours a week so you get cash flow in. He paid all the small build up to his family and he got a little bit of a savings account or checking account so you want to know what to do with the rest of his cash you'd like to invest it doesn't want to do it into a 401(k) or an IRA. Yet he says by the time you get back 18 years old in your 70. It seems like that at that point he said he's looking at something like looking at one year to year five year looking stocks or bonds are where would you direct and put it in. He didn't want to be able to pull it out tomorrow, but he doesn't want to wait no years yeah well Steve, couple thoughts, and one that I love these thinking this way's, I was a young guy you taught him well and he's thinking about his financial future. I really want to prioritize his growth and understanding in God's way of handling money is 2300 verses on money and possessions in the Bible and the quicker we begin to understand what's on the heart of God related to how we handle that which were going to live on that which were going to give how we handle the old portion of our resources and that which we want to grow or invest or save and really apply biblical principles to all of those is critical because it helps us to really understand that money is a tool that it ultimately is all owned by God. It's not an Indian in and of itself. It's really a means to an end and that and ultimately should be something other than you and that's when money is most enjoyable. We get to participate in God's activity will all of those ideas.

Starting with God owning it all is really the foundation for wise money management.

According to the timeless truth found in God's word, and so when you're done here today hang on the land get your information, I like to send you a copy of Ron blue's book, master your money. He was just on with this moment ago. It's a great primer on biblical money management in all areas of love for you to give that to him as a gift and asking to read that. Perhaps you guys even taken a chapter at a time and do it together, son. That's number one. Number two is having the right understanding of investing. Certainly investing is supported in Scripture as stewards, we should seek a return on God's money and we see that the parable of the talents, and other places as well, but we also need to apply the right principles to that including being well diversified, so we wouldn't want him to do anything that causes them to be highly concentrated in one particular stock or something like that. We also want them to have the right time horizon. So what I would say is anything that's less than five years in terms of his thinking I would take investing off the table because at that point. He's really just trying to get a time.

The marketer captures short term moves in the market and if he needs it for specific purpose in a period of less than five years. He may find that he has to sell it at an inopportune time and and perhaps take a loss. So I would try to get him to think him in at least a five-year increment if not 5 to 10 years in terms of money that is going in the market. Because really, the quicker he can begin the process and understand this idea of investing for the long term, as opposed to any kind of short-term investing.

That's ultimately trading your short-term thinking. I think this is the right direction for him to go now with the money that's longer-term perhaps the best way for him to go would be some of these newer type Robo advisors that are very easy to use either app driven are web-based. You can get very broad diversification using indexed exchange traded funds were you capture the overall moves of the market at a very low cost.

So some of those would be well front betterment would be another one and then 1/3 that I like is the Schwab intelligent portfolios. Basically, he would open an account there would be a taxable account, because he doesn't want an IRA and answered some questions and then it would build a very low cost, highly diversified portfolio using ETF's for him and then he could just systematically make deposits into those accounts every month as I don't make sense to you. It doesn't make a lot of sense and will be good for him to hear what you said in the networks cannot point me in the right direction.

He took the financial peace University and spirit that I mollified it, love it will hang on the line will get your information will give master your money right out. We we appreciate that because the thanks very much in a row. I at that very age ended up with a small settlement because I was injured on my part time job and I took the small settlement being the wise 18-year-old I was and invested it all into stocks I hamburger restaurant franchise and date prebuilt home franchise that a friend of a friend of a friend told me about that was a sure thing and within three years I have lost every penny of it. So sometimes, any and 18, even losing it all isn't the worst thing in the world because you come away with some great knowledge just totally Richards and Carlisle, Pennsylvania hi Rich, what's your situation.

There I show quite a long time and here every day and what I think I've heard a lot about his check, check, send a check, one, and I'm I was thinking the same thing myself and I want to give a shout out door local radio station WP FGF and the carrier shall great you guys are great, great show they have on their and sweet. But getting you guys talk about this that I might've missed a show you mentioned maybe not.

But last week I got the not a check in the mail but a Visa card and debit card and my first thought, I thought it was a scam some point and and I thought well this is scam their descendents that somebody trying to get me to use it because I read through the stop. Even I look very official discharges on the back. If you use it in an ATM machine in the wrong ATM machine.

All this and I'm thinking of the $10,000 on this card that's ridiculous. So this can't be real & I'm just wondering if some of the people out there who keep asking for check may have gotten the car did not realize, hey, this is the stimulus money, on a Visa card versus Anna on a check.

If you're waiting for and that you not hurt.

I keep hearing people say check I get my check. I was thinking the same thing every one of my friends told me all I got my check and deposit where I got mine directly put in the my account is mine, and I was a little skeptical. Well, a couple of thoughts on the Richard first so I appreciate you raising this point because it is something that folks need to be aware of this is in fact of the way the Treasury Department's handling of the stimulus payments for millions of Americans. That's a card issued by Meadow Bank in ETA and it's not for anybody who's tax return was sent through a process through Austin, Texas or Andover, Massachusetts, and where they didn't provide the banking information for the direct deposit. It's a pretty effective way to go because you can transfer the funds to a banking withdrawn from an ATM, you will issue a check. You can even make purchases against it, but it's something that is unexpected and as you said, folks. In some cases might even throw it out without realizing what it is, so that it's an important opportunity for awareness. I will say if you have mistakenly thrown away your stimulus, debit card, or you think you might have. You can get a replacement by calling 800-240-8100. That's 800-240-8100 or go to a website.

Get ready EIP car.com EIP card.com replacing that card is free but there may be a shipping charge Richard. We appreciate your phone call today and a lot of people were listening right now and they probably came away with some great information. Some great advice. You're not the first person we've had calling about that. Thank you very much quickly. Barrington, Illinois Austin we have about 90 seconds. What's the situation you're dealing with. Yeah, hi.

I read I'm just trying to figure out how to establish credit 26-year-old hitman whatever and so I don't have a credit card never had a credit card with my credit scores pretty low and I'm just trying figure out how to apply for credit card yet I keep credit score yeah well Austin couple things on that number one really important that you start with and maybe already have having a family budget. Arabs spending plan for yourself where you documented and perhaps tracked over 30 or 60 days everything your spending discretionary and fixed but also those nonrecurring expenses things to come up quarterly or semiannually so that you have a plan because you don't want to credit card unless you can only use it for budgeted items because it can be a source of funds, allowing you to spend beyond your means outside of God's provision.

That's can lead that we don't want that you got have a budget you gotta demonstrate that you can live on it, track it, use an app using Excel use and envelope system. Whatever it takes but then if you want to get a credit card. It will help you build your credit again as long as you use it wisely paid off every month.

One way to start is if you don't have the credit score to justify the card or you just want to be a bit safer in terms of your own use of it.

You can get was called a secured credit card you just going to your local bank. Tell them you want to secured card you put a certain amount on deposit. Let's say 300 bucks to give you that amount in credit against the card so you can use it throughout the month when you payback becomes available again, but you can't spend beyond it. But the good news is that will be reported to the credit bureau each month with you as an on-time payer and that's can start to build your credit if you do go with the traditional unsecured credit card. Just make sure you have a systematic recurring budgeted item charge to every month paid off on time and you'll find that the credit score will improve no time Austin. We appreciate that, thank you very much, and the very best to you as you finally pick up a credit card at some point. And again we pray that you will use it wisely.

Thank you very much.

And with that Rob were pretty much out of time. We kinda cover the waterfront today. A lot of great information from our guest run blue again. The title of this book is splitting errors and you'll find his book easily available when you visit our website moneywise live.org moneywise live.org and if you have not yet made a gift this year to our ministry moneywise media. We ask you to consider that, then click the donate tab at the top of the page. Again, you find all that at moneywise live large. My thanks to Jim Aaron for further technical expertise today. Not to forget Courtney Young as well.

Traveling in from her abode in the bar