The Money Challenge for Teens

The world is lying to our teenagers telling them that money equals happiness. And whoever has the most wins. As God has other plans teams and their money were meant for a lot more reversed phase college choices, document finance expert are greener about avoiding falls and having a future filled with contentment and generosity to your calls of 805 five 7800 525-7000 more welcome back to moneywise live is her phone number again 805 five 7000. If you'd like to chat with Art Rayner today or Rob West. The first part of today's program is about teaching her teens and if you have a team and you'd like a little wisdom, or you have some wisdom to impart to us that be great as well. 800-525-7000 Rob our friend Art Rayner is VP of the college at Southeastern in Wake Forest, North Carolina. He's written widely on finance wealth and generosity and he's here today to talk about his latest book, the money challenge team's that is Stephen. It has some incredibly important advice for our young people as they prepare to face the temptations of the world, not to mention helping some parents navigate this with their kids are great to have you back on the program.

Robin appreciated absolutely.

I will tell you I'm really excited about this new project.

I think this is one of the critical areas we need to lean into.

As parents, and certainly for those teens out there listening.

We do hear from them from time to time really understanding not only the financial literacy side but really God's heart as it relates to money before they head out as future adults. I think is critical obviously you share that passion and I want you to begin today art by sharing a story that you open your book with about a high school student in Chicago named Brendan in the lesson he learned tell us about yet.

So Brendan and embryo are high school. They are starting to your out that that that money can do both harm and in good for them and admittedly it seems that they have been duped by the world and duped by the world message about money, how to use money and so fortunately they have a person to come into their life to really guide them on this journey of financial help for the sake of leaving and giving generously to show them that the decisions that they make even in high school connect significant significant impact on their financial help in their ability to use the resources to advance God's kingdom for the rest of their life, so true, and I think if we can instill this early and they can own it and will have a profound impact not only on their lives in their marriages, but I would say even their walk with the Lord in my experience art is that your financial journey is one of the key ways. God shapes your spiritual journey. If you experience a well, absolutely.

The Bible speaks about money all the time so there's over 2000 verses on money Jesus spoke about it more than any other topic while he was here on on earth.

And so the reason why God talked about money so much because of its type to our hearts that it is every flexion what's going on inside of it. The way that we learn the art manager money is a reflection of how we manage our heart until we start talking about money issues were really starting to get some deep-seated heart issues. That's what so critical. You know, we'd say that money is really the way you manage it is a window into what's going on spiritually in your life what you value, but it gets right to the hard to what's going on with our teenagers. How would you describe what the culture is saying around money to our teens that we started today by saying was a lie. What is that weld that money or position and more of it lead to happiness or greater happiness, contentment that that attraction. That message is being ruined in our teenagers over and over and over again any time that they go on to the social media account they're going to see men and women that have you have everything they have a car they have that the house there on the fancy vacation and are making this lifestyle.

That lavish lifestyle so very enticing and so they're getting it a lot. What they're repeating is a lie. That's not help. That's exactly right. Working on fact that as well as some anecdotes to the hammerhead around the corner 800-525-7000 have you with us today for moneywise live many people adopt an attitude toward marriage and finances that it will all work out somehow. But sadly, it often doesn't financial woes can devastate a marriage but there is a better way.

God's way, money and marriage God's way by Howard Dayton will help you discover God's approach to growing your finances and strengthening your relationship with your mate and cultivating godly joy, money, and marriage God's way is available for moneywise live.org when it comes to investing guidance you want advice, grounded in God's word. That's the approach offered by sound mind investing. SMI has helped tens of thousands of Christians acquire investing wisdom and confidence. Regardless of your investing experience or how much you have to invest can learn to be a wise and faithful steward in the area of investing a short video webinar on profit and peace of mind is available now sound mind investing.during the 12th 1931, Pres. Herbert declared this song in the US national anthem as a lay leader in the Episcopal Church. He also taught Sunday school and as vice president of the American Sunday school Union from its inception in 1924 until his death in 1843, he was responsible for helping establish Sunday schools in America is poem for the 1832 in Piscopo Hemphill included Lord with glowing heart. I praise it was an early supporter of the American Bible Society, and often reference the Bible.

He wrote to his children read your Bibles every morning and over the center brought to you by Museum of the Bible in Washington DC. And if that is robbing you of freedom and peace of mind. Christian credit counselors can help where a 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 credit counselors.org Christian credit counselors.or call 800-5571 9850 Moneywise Live Pl. where timeless wisdom meets today's financial choices and decisions and that this was obviously that's why God's Word, the Bible is where we start now today were talking about raising teens moneywise money smart teens and if you have a teen and you have a question about how to best prepare him or her, or if you have anything you'd like to share with us about how you raise your own chains to understand the concept of money and earning money and saving and investing all those things I would love to hear your success stories to 800-525-7000. If you'd like to speak with Rob and today's guest art. Rainer artsy author of several books including the money challenge for teens are just before the break we were talking about this lie that the world our culture tells her teens and that is when they turn on social media are turned on the television or drive down the street. They see a message either overtly or subvert leave it that money equals happiness right that they can get to this place where they have enough stuff. It will lead to a fulfilled life. They get kinda sucked into the comparison trap. Unfortunately, that social media tends to foster talk about that piece of it for a second. This idea that were constantly comparing ourselves in today's culture to others, and perhaps the best version of their life and we may not realize the debt that's involved in funding that you without question what we quickly see God on social media and fight fight like you to that lifestyle is often propped up by by debt in the smiling faces that you see are actually hiding discontent satisfaction with their own life that this lifestyle that more money more possessions doesn't lead to greater satisfaction. Great greater happiness. God has a better design for us and for our our money and that's really when we live generously when we live with her hands wide open think that whatever you want to do with it. I'll I'll do, I'll go. That's when we start to find real satisfaction will contentment the resources that he had given out.

We talk about it often, but I look for you to articulate the big themes that you see in Scripture.

What is the real truth about how God wants all of his people, teenagers included to manage his resources and by the way just mention the first one that is give generously what what else do you see yeah that's a great question. So as we look at Scripture really ready basic principle pop up first as we've Artie mentioned it to give generously better starting point for real biblical financial help.

The second is to save likely we can see that all throughout Scripture that's important to stay for the future now not talk about hoarding over talk about widely preparing for the future and finally to live appropriately to make purchase. The decisions that are within your budget and ultimately bring God the most glory. So we find those basic principles throughout Scripture and course I dive into those in the money challenge working yeah let's talk about these milestones you've laid out because both in the money challenge and now in the money challenge for teens you take these big themes that you just articulated and you break them down into some very specific milestones or you might say goals that young adults need to accomplish those things.

So unpack that force 38 money milestone in my count for team are geared toward teenagers and 30s are practical steps that they can they can take to help answer the question what do I you next to the first to start getting that's where will biblical financial help is found that to be milestone number one. Number two is to open up a checking account number three get a plan or some like to call it a budget milestone number four open up a payment account and save $500. Once again, very attainable for teenagers. Number five is to open a Roth IRA if you are employed now this is going to look at different shocking but teenagers can actually set aside money for retirement and I know some teenagers that I see Artie doing doing that right now. Number six.

Put 50% of your income into that Roth IRA mouth number seven paper a car or college in the filing also numbered eight it to live in give generously and very practical steps that any teenager can follow. Yeah, I love that it begins and ends with generosity which really underscores really the bookends of God's way of handling money. By the way, this broadcast will be available in moneywise live.org if you want to go back and review those works pick up a copy of this great book to get those milestones and a lot more detail. Let's dive into these first, second, you said you want these teens to open a checking account. How early would you encourage them to do that and what parameters would you put around so you are a parent you might have to open one, along with and I would recommend as soon as they start earning income to go ahead and make sure that they have a checking account to allow them to start managing partner money and get a good feel on how to make wise financial decisions that align with Scripture. So really it soonest possible. Yeah, yeah, what about that idea of teens getting a job. Obviously, parents are in a wide range on that spectrum. Some will say no there full-time jobs going to school and I contributing at home and then doing the things they need to do to prepare to be an adult someday, and others they know they can learn valuable lessons and perhaps in fact be even a better, harder worker down the road by learning some of these ideas in the value of hard work early. How do you help parents navigate that decision. Yeah so I can speak from personal experience, I got my first job when I was 15 and I worked part-time throughout high school, made great great plate sports that kept me busy, but that working piece with essential to help me understand that personal money is earned, that there's not good money tree in our backyard.

It is something that you have to work for and that when you spend it, it goes away. There's no more money and without having a job taught me work ethic and also taught me about the value of managing my finances well so I can speak from personal experience. There, that's what what I did and I know a lot of parents that are in line with that way of thinking speaking with Lorena today about the challenge and the fun in the fulfillment of seeing your child become an adult with the true understanding of biblical finance and all those principles and how to best apply them to their lives. And if we can help you today with a question or if you have a comment, call right now 800-525-7000 Warren, Ohio hi Janet what he have force my 16 he wanted to buy current backlash stripped down and he wanted to know that money and trade came to me and asked me if I would pay for it and I told well think what will do is smoke out that credit and I will put our savings account and $3000 and you can have a loan topic that from the credit company and you'll have to pay that loan every month. It was working at Kmart and he had money to do that so he get that you are.

I think it was over a year, or 17 he had paid atop and he got a letter from the credit that he had good credit was pretty good start for him. Yeah Janet so if I understand what you did there.

You put the money on deposit which served as the collateral, but you were not the lender he was actually the loan was extended in the payment worm payments were made directly to the credit union is a right that correct yeah interesting art. What are your thoughts on Janet's approach are very creative, yet it certainly is created another route to be fit to go to simply say no and that you're going to have to save up for this, and I can teach patient that that making a purchase like this. It takes time to to save save money and then he can actually purchase it with cash, so there's there's a few different ways that you get to go about that now. The idea is always thinking about the principal you're trying to drive forward in every situation because art if were not careful, we can actually encourage the wrong behavior was some of the ways we interact with our kids and money right that absolutely right, and we need to be very careful with debt specifically because we don't want to do is we don't want to teach our teenagers that that is a good thing but we need to understand it, the burden and can get you into a lot of trouble if misused for good information.

Thank you. I generally appreciate that call a Boynton Beach, Florida hi Kim what you're coming for us today.

I want to share a line that my dad helped us we were growing up in the 70s and 80s, and then I got to pass that on to my kids but is practical thing. When I got old enough to drive they had to pay for their own insurance thing that upkeep and I needed him and I wanted something not that we were okay with that as long as they help pay for rent and eventually pay for it all.

That has nothing to work pretty well both my kids are in their 20s.

Now let's number doing pretty well that's great incentive.

They work in their high school years. Kim yeah but worked part-time jobs. All things like detailed cars and my daughter Betty that I can't, excellent way again today. We appreciate your comment about how you handle this with your kids is like you did a great great job far, we have a lot more ground to cover, including college, you know I'm always taken back by the amount of debt are cut her college students are graduating with these days. So we'll get into how to select a perhaps a college and pay for it. Among other ideas right around the corner. We sure will. You're listening to moneywise live I'm Steve Moore, that guy over there. He's Rob West and that guy over there in the corner with this mask on which were happy to see that's art Rayner he's our special guest today and your special guest as well.

800-525-7000.

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Find it all in master your money by Ron blue available when you click the start button moneywise live to work is click sharply/so here is a Quick Way, God works all things to get up and conspire everything conspires conspiracy 20 conspiracy. Not every other driver on every current place of employment. We really do believe that we conspiracy we conspiracy causes conspire not all the things we are all a great meeting with my thinking perhaps….Everything comes my way agree with you more about our money than most of us imagine Jesus is more about our use of money and possessions and about anything else, including both heaven and hell in managing God's money on the radio and breaks it all down in a simple, easy to follow format that makes it the perfect reference to what you're interested in gaining a solid biblical understanding of money, possessions and eternity managing God's money is available when you store moneywise live.org that he was again today. It's moneywise live our guest's art Rayner you be saying to myself why should I listen to this guy have any kids are Jesus, not in the faith, yet they're getting "go book was really birthed out of the conversation about having the parents to read the money to state and I wished I would've learned earlier and I wish that I could pass it onto my my teenage children and so we have to count 13 now the are always more tools needed one win more teens come on the scene because words when I was a boy doesn't work at all anymore. Same thing with Rob, you know, it's a different generation online is a totally different scenario for teens today and not to mention colleges the choices the option so were really glad you wrote this book are just before the break you were talking about the milestones that you lay out in the money challenge for teens of very specific goals are steps that these young adults should attempt to accomplish one of those might be surprising to some of our listeners and that is if they're working going to have them open a Roth IRA talked about the importance of that and perhaps I know you have a story you heard of recently that really illustrates well first of all I personally opened up my IRA when I was 16 and so that was that my father, prompting, and so I can attest to the importance of doing that and the impact of doing that, but it's amazing the how, what a teenager can do for the retirement years. Right now, if a teenager set aside $2000 under 16th and 17 and 18 total $6000.

I showed it in that the money count 13 and if you just simply let that ride many that not adding any more money using real stockmarket numbers that $6000 turns into $675,000 because the power of compounding. Now I was sitting with a teenager. Last week he was 15 years old. His dad actually reached out to me that they are at love for my teenager to be able to pick your brain for the law. He's really into finances and I would just like for him to be a rescue question, so I absolutely we sat down over lunch and he started asking me these questions and I asked him about retirement and he had the 15-year-old already set aside over $2000 in his retirement account from working this summer and I was just amazed because this teenager told him that on the path to be a millionaire. Now, as believers, that not only what we are going after the Bible to say that we only to be millionaires but reflection of his wife stewardship and I would absolutely come from because you can make a significant of your teenagers can make a significant difference in their retirement years. Right now while it's so key. I think that's the power of compounding illustrated its critical lesson.

Your teaching your kids by encouraging them to do just that. But while they're at home so you can put it in the proper context that again. It's not about just how much you can accumulate, but it's for what purpose, and for God's glory and by the way, we should be giving very very generously enormous going from West Palm Beach and we've got just about a minute before next break Norma give us the illustration of savings for your son from his younger years but my mom said you Norma, would you write that you know the break will be right back and will get back to how should we as Christians think about and testing.

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Life will never look the same treasure principle is available when you click the store, but moneywise live.org Joe Biden has named California Sen., Harris as his running mate making history by selecting the first black woman to complete all the major parties presidential ticket. The Big Ten conference has announced that it will not play football this fall.

It will explore playing in the spring and the Pac 12 conference is now set. It is also canceling fall football season postponing all sports until January 1 because of covert, 19 resident drums as the coronavirus has soured his relationship with Chinese Pres. G virus originating in China.

The confirmed number of coronavirus cases in the world is now reached 20 million. The president also tells what you you would show on the Salem radio network will continue to be tough on Iran and China. In a second term. This is SRN use moneywise with Rob last time Steve Moore and Rob just before the break we were speaking with Norma in your former neck of the woods. West Palm Beach, that's exactly right Norma thank you for holding. We didn't allow you to finish the story. We had a break there at the bottom of the hour, but you really teed it up nicely got a 15-year-old son. You encouraged him to work. He didn't want to say but you said no you need to put that money away so he opens the savings account heads off to college. Tell us the rest of the story about some single mom what me and I die get the money you know I'm talking really down payment he bought you look, that's incredible, and you know what's amazing is not only the $40,000 that he had the lesson that he learned about the value of hard work in delaying gratification in limiting his spending so that he can save for the future may not something that he'll carry with him for the rest of his life and I suspect working with enough single parents over the years.

Knowing how challenging that can be to make all the numbers work. You taught him some incredible lessons along the way. Hey, thanks for weighing in today and are this is exactly what were talking about is that absolutely right and thankful for that story you want talk about leading the way, showing your your children showing your child how the look is one thing to tell them it's another thing to show them and Norma clearly showed her child how to be a good steward just really encouraging story sure is.

Let's talk about college are to go. This is obviously a major expense. The parents are facing. How do we save for and pay for college. In some cases they decide they want to save a certain amount because they have the ability to do so, and perhaps pay for some or all of it. In other cases they're saying to their son and our daughter, listen, you need to find a way to pay for school. Perhaps you need to be working hard and applying for scholarships and getting grants and maybe financial aid. Any number of scenarios.

What are the big ideas you would share with our audience today as they think about approaching this major expense of college never way to go at the pain for collect.

The key is that you're trying to graduate without any debt. Make sure that your student your child has no debt upon graduation last thing you want to do it. Have to walk across the stage get that that piece of paper and then start paying on a $30,000 dollar loan so it starts with the school that you collect and I talked about this in the my talents working.com reasons why you don't want to go to school me that bad that motivation for refusing to go to a specific school.

One is that the prestigious expense school has the reputation that makes you want to go you and you think about getting a degree that cool that it's going to open up doors for you that would not have been opened up otherwise and in the reality of high tuition distantly does not equate to excellent education. Now the school may provide excellent education, but also some other really good school. Much more affordable schools that also provide good education also going to school because it's your favorite sports team. If you cannot do right for going to going to school and also going to school just get us what everybody else is going you want to make sure that you're going to school you and what you want out of a college and also the school that you can actually afford and I would be careful with making sure that you are focusing on net cost when you're looking at what it cost actually go to school, and here's what I mean by that. You can have a school that looks a is the tuition and imported really at $50,000 per year is pretty expensive school and you get a letter in the mail that says congratulations may become for the congratulations. You have a $20,000 scholarship out $20,000 that that's a lot of money and that is something to celebrate, but let's not forget that the $60,000 a year school that you're still on the hook $40,000 per year. So yes $20,000 is a lot of money, but focus on the net cost. So what it cost after you. You take out all of your scholarships. All of your grant, what you actually on the hook work focus on that number more than anything else you great information.

Thank you, Highland Beach, Florida, Linda. We appreciate your patience.

Give a tip for us or something that works for you and your kids are when my children will have you know every quarter by can be quite expensive in my three college at one time that we pay for their buck.

Their side jobs that they were holding Lally to challenge every you getting your core mom and dad money and Carol at that time there were hard hardcover book. They could make some extra actually put the loss to Linda but I think your point is well taken and certainly you know we need to be creative. We need to encourage the right choices, especially when it comes to the high cost of college, and art. My wife actually heard single parents. Her mom said, very early on. I go to school, you need to pay for it and she took that seriously. She applied for hundreds of scholarships ended up going to school. Having everything paid for, so you know so much of it is the work you're willing to put in in terms of grades and activities but also the effort you put in in terms of scholarships and grants are.

We have just about a minute left. This is been so good.

We covered a lot of ground you in your book. The money challenge for teens you lay out a challenge for these teenagers and those who are willing to accept it. What should they expect well they are going to find itself on attorney to develop typically financially healthy patterns for their life that they will carry with hopefully until will will be on retirement and God has a plan God has a design for them and their money and Dave money transfer teens unpack that and very easy to understand way. I want to encourage parents to get the book through it with him and encourage them to make sound financial decisions because it will repair them for their future.

So glad you did. This book project, targets can help a lot of teens can help a lot of parents and by the way art blogs regularly on this topic. Check it out@ourrayner.com are.

Thanks for joining us today. Thanks so much again. The title of the money challenge for teens prepare for college run from debt and live generously art Greener.com to find the book. There are greener.com will be right. Here's a great deal more about our money than most of us imagine Jesus is more about our use of money and possessions and about anything else, including both heaven and hell in managing God's money.

Author Randy L breaks it all down in a simple, easy to follow format that makes it the perfect reference tool if you're interested in gaining a solid biblical understanding of money, possessions and eternity managing God's money is available in the store moneywise live.org hi I'm very tired. I'm here to help you understand the urgency and how much fun it is to share your faith in the eyes of a layman. The church is under attack more pre-were martyred for their faith last year than any previous year in human history, the church is worshiper persecutions the greatest morsels receiving Jesus Christ as our Lord and Savior today are doing so knowing you could cost them their lives.

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He realized right away that he made a mistake so my question is what do we do now.

Yeah, you know I wouldn't be terribly concerned about this, Bonnie. You can read about this scam on the FTC's website the Federal Trade Commission. It's called the yes-man scam and it works like this. The phone rings, you pick it up. The courses can you hear me this is typically what works you answer yes and the concern is that your voice is been recorded saying that word which could then be used to make purchases on your credit card over the phone that the challenges security experts typically will say that it takes a lot more than a recording of your voice to steal your identity and thieves would need more of your personal information to use it like a credit card number and by the way if it was a credit card that was compromised. You'd only be liable for $50 if of fraudulent charges. If you reported timely and in some cases zero and and so you wouldn't even have to pay that so I wouldn't be concerned, Bonnie.

I think this is just a good reminder to be vigilant to stay up to date with your making sure you're not clicking on links in emails making sure you're changing your passwords regularly.

I use a password keeper software that actually generates my password so it's a long string of characters not you know Steve Moore is the best or something like that over and over again. It's a random string of characters and that way it's, it's, you know much more difficult to be compromised.

Is this the big idea there so that the end of the day. I wouldn't be concerned about your husband saying yes on the phone to this person is probably not go anywhere, Bonnie. Where did it go last night after he said yes. Was it and it and actually generated luck thing I did something wrong.

So we appreciate your advice so much money. Thanks Bonnie by the password in the past. Steve Moore is the best. Let me know whatever you guess, that my password is my dogs name knowing Fido it's it's it's always been Fido Fido was a Fido to Norwalk, Ojai, Norwalk, Ohio hi Robert, what's cooking.

Well, you know, looking at all the stuff that's going on.

Let me say we are the beneficiaries of Larry Burket and Howard Dayton and all that they taught over the years and we were able to pay off our mortgage for years before I retired and that was a great blessing to have that those funds available put into the IRA were concerned about our daughter and her and her husband. If there's a major collapse in the economy, like we've never seen. I guess that quick qualifies Larry Burket's storm clouds on the horizon and they were not able to pay their mortgage, they could lose their home and were exploring the implications of paying off their mortgage, eliminating the commercial lender, and then they pay us their monthly premium. Now, that way they would not lose their house if if they could make payments but here's the problem we in order to do this we would have to take out about one third from my IRA and that would incur an $8000 income tax on that distribution now in our minds that kind of a showstopper right there, but I'm wondering if you guys in your vast knowledge can can see some advantage that could come if there you know that income were receiving from the mortgage payments or some interest on that and whatever else but can you see there you know Robert, first of all thank you for mentioning Larry and Howard.

We would echo those comments to giants of the faith and those men of that profound impacts on our lives. Steve and myself. Secondly, I appreciate so much you wanting to walk alongside your kids and your daughter and I recognize that you know any number of scenarios could play out, but I really wouldn't encourage you to go down this road for a couple reasons. Number one, as you said, if the economy were to take a serious downturn. Well, certainly nobody knows what the future holds. Could the economy ever take a serious downturn sure. Do I believe there's a collapse coming in some reasonably short period of time. No I don't. I think even though we are taking on tremendous amounts of debt as a nation, and I wish during the seasons of plenty that we experience of the last decade we've been paying down their debt running budget surpluses, not deficits. Despite that, I think what's happening right now is necessary to really stimulate the economy and keep the money supply flowing. We have a very strong consumer. We have a very healthy economy and that's why there's nothing here that systemic in my view, it really is event driven. And that's why I think the market is bounce back so quickly, and I think the economy will follow suit. With that said, could something happen down the road sure, but I don't think you incurring this major tax liability pulling out of the IRA to prepare for the that scenario, which I think this is very unlikely anytime soon. This is probably the right move. Not to mention the fact it's completely changes the relationship between you and your daughter.

You're the lender.

She's the borrower. Borrower says the Bible says the borrowers. The lender slave know if she were to be unable to pay even as gracious as you want to be in terms of helping her through that it would create all kinds of just emotions even on her part. Perhaps knowing that you've stepped in you she's not able to pay you in those kinds of issues. I just don't think you want. I think in that scenario if we were to have a major economic event, just like we saw earlier this year there will be all kinds of concessions made there could be deferments and if she's following biblical principles, not buying too much house making sure there's a healthy down payment not getting overextended, having an emergency fund of six months she should be able to weather that storm and at the very least, you could step in and provide some assistance of that's the direction the Lord deleted. In the event that that happened, but again were talking about scenarios that are pretty hypothetical and I wouldn't say very likely to happen. So all that to say. I certainly appreciate where you're coming from. I just wouldn't encourage you to pursue this approach if you understand what I'm saying Robert, thank you very much and thank you for your kind comments quickly. Melbourne, Florida hi Laura, what you question for Rob. I got a high yes, well, you're one of the things that I would check out Laura as you do. This investigation would be a Christian healthcare ministries may keep in mind this is not insurance. It's really a healthcare cost solution that allows Christians to share one another's medical bills. It's in all 50 states and around the world and they have literally shared billions over the years there a nonprofit ministry and it is very budget friendly, which just simply means you know with what you're experiencing with true insurance and the considerable rising costs you're going to see a fraction of that being paid for a Christian healthcare ministries which would perhaps allow you to then take a portion of what you had been paying for insurance and set it aside. So you've got to the ability to cover more of the incidentals.

The routine expenses which you would be covering a self-pay but it's something you ought to take a look at again. It's biblical it's budget friendly and I think it's really simple to understand. If you just go to CH ministries.org CH ministries.org you can read all about it and I think it's at least one option for you to consider. Laura, thank you very much appreciate that where you squeeze in one more. I'm not sure about this Melody we need you to ask your question in 30 seconds. In order for us to make this happen. Okay no Rob West talking about 20 One dollar.shall act now to nonprofit station that I didn't catch the whole conversation explained that will fix Melody absolutely and and I think you've got the majority of it, but this goes back to the carriers which was added this year because of coded and what it is is it's a new above the line deduction which is simply means you don't have to itemize in order to get it. You can take the deduction right off the top whether you itemize or not it's available in 2020. In future years for up to $300 of cash contributions to a qualified charitable organization. So, a not-for-profit and it's in addition to the standard deduction just to encourage giving and generosity during the season when so many ministries and nonprofits are doing great work during difficult times. So even if you don't itemize you can take advantage of it and it's $300 up to that up to $300 not 100 and so I would absolutely be looking to take it manage of that this year Melody, we are glad you got your question in and were glad that you asked it because it's an interesting one and I'm sure there were more than a few people out there that wanted to know the details on that would be the best place to get additional details. Rupp would be IRS.gov. You certainly could see, but there's just so many great websites out there now married well within the Vesta PD. So many of you just Google the cares $300 deduction. You'll find more articles and could possibly great. Thanks so much moneywise live is a partnership between woody radio and moneywise media.

Thanks also to our technical crew today. Aaron, Amy, Judy, and of course none other than Jim Henry Rob West, I'm Steve Moore. Drive safely where you mask and join us again tomorrow