Budgeting for Beginners

You've heard it before, everyone talks about the weather, but nobody does anything about it of money. No doubt lightly say the same thing about budgeting your share about a budget, but never really got try and fail your check some tweaking. So first up financial planner and teacher Rob West talks us through the basics that your balls on anything financial at 800-525-7000 would love to hear from 800-525-7000 nine Steve Moore budgeting for others.

That's nice right here moneywise live around. We really do talk a lot about the need for a budget on this program but we often don't have time to go through the entire process of creating one step-by-step so I thought it would be great that we try to do this today. Well, I couldn't agree more Steve. So let me just say to you new listeners out there. No matter how much or how little you have everybody needs a budget, there's no other way to stay on top of your spending get out of dad to give to your maximum potential and plan for the future okay and will go over how to create a budget and some detail, but we should also mention that we we have a trained group of volunteer coaches all over the country who can also help you with this thing exactly so. Just go to moneywise live.org. Click on find a coach if you'd like to find a little bit more help. After today's broadcast and they can get more specific with you and why do we have to call the budget.

Sometimes I think it's it's that word that throws your fear and what you want to call it today spending less. Call the spending plan. Okay I'm done with that waffle fries waffle fries.

They do might be a tad confusing. Will call it a spending plan. By the way, I will tell you about our brand-new app that will help you do all of this in an automated fashion in a few minutes, but Steve, let's get started.

Step one is list your monthly income. That means your after-tax income.

If you have a regular job and your employer withholds taxes. It's the amount on your paycheck. If you have other income where taxes are withheld. Well you should only really count about 70% of dad and put the rest in savings for tax time. Okay great start. Now we have a number are actual after-tax income. Now where the last step two is to list all of your fixed expenses.

The things you pay the same amount on every month. These would include your renter, your mortgage payment, auto loans and insurance credit card minimum payments will talk about debt reduction beyond the minimum payment later but get the minimums in their and student loans. I consider those as priorities because if you don't pay them on time you get hit with late charges and include your giving in this step because that's certainly a needed expense determine the percentage for your giving and do your best to stick to it. If you try to put that in the end of this process, there won't be anything left to do it upfront are a good idea. I we take our income number and subtract fixed expenses. Now we have a smaller number to work with. What's next, yes.

Step three is to list your variable expenses.

These are things that vary from month to month. If you're not on a budget, billing, plan your utilities would go here other variable expenses would be groceries, household items and gas for the car you'll never have to go over your bank and credit card statements or you will have to in order to get this right try to look back three months or so you'll have to come up with an estimate, but you'll be able to adjust this figure in the months ahead. In fact, plan on adjusting it. Nobody gets estimated variable expenses right the first time that's for sure. Okay, we subtract our variable expenses. Now we have an even smaller number now what we do. While step four is to budget some money for your wants. We've already identified your needs now. Give yourself a little spending money for a few things that make life a little easier and perhaps more enjoyable. This could be an occasional dinner out or some other favorite activity maybe a hobby that uses the these as a reward for staying on budget, and here will give you a percentage. Try to keep your wants 25% of your take-home pay a 10% the very most, because you'll need every penny for that next category sounds ominous. What's the next category that step five minutes to start paying off your debt were moving beyond the minimum payments. Here you need to determine the amount of your remaining discretionary income you can put toward debt that is above those minimum payments. Let's shoot for another 5 to 10% of income 10% of courses better.

Okay that's five steps but something is missing. Well, that's right it.

Step six, which is start saving them for the purpose of this exercise will assume you don't have an emergency fund so you want to start one. Put some amount from every paycheck in the liquid savings you can get to it easily for unplanned expenses and will tackle the rest. We will and will come back with some encouragement as well hundred 525-7000 money and life run on the same track on unfortunately sometimes it seems like your money is heading in a different direction from your goal never enough three keys to financial contentment.

Author Ron blue helps you to break down all your financial options to a basic floor and then shows you how to keep it all chugging along in the right direction on the same track never enough three keys to financial contentment available when you click the store button@moneywiselive.org. If you're investing for retirement or any other goal you may be wondering if it's possible to enjoy both profit and peace of mind, no matter what's happening in the market. Sound mind investing is a short video webinar on that topic.

Sound mind investing.org SMI has helped tens of thousands of Christians learn to be wise and faithful stewards in the area of investing profit and peace of mind matter what's happening in the market. Sound mind investing.org renewed today. Billy Graham. There is no doubt that we as a people are in serious trouble today. There was ever a time that we needed to be on our knees in prayer, asking God to save but it is now.

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If can 800-525-7000.

We've begun today's program talking a bit about how to actually put together a budget a.k.a. a spending plan, and while we were kinda closing in on the very end. I think we talked a bit about building your emergency fund and we don't have too much money left as we reviewed all the categories. Any in the last steps are reminders for us here.

Yeah, let me just run through these quickly. So step one.

List your monthly income. Step two you want to start with your fixed expenses. Step three is your variable expenses those things that change month to month, then for try to put some money in for your wants. We recommended not going over 10% of your take-home pay for things like eating out your hobbies things that are funded are necessary in a spending plan, but you want to make sure you keep enough available for these next few steps which are key to driving toward your goals. Step five is paying off debt above minimum payments. He can really try to get these balances coming down if not paid off quickly. Step six is to start saving. This is where you will start putting money away for emergency fund are beyond that, even for something like a down payment on a home.now we get to step seven.

Steve, the last of the two remaining steps here.

Seven is to look for ways to cut spending. Can you raise or lower the thermostat to trim your utility bills. Perhaps I cut back on the grocery budget you may have run out of money before reaching the end of step six, and this is really how you make sure you have enough money for all of them again.

Everything should be on the table and do a hard look at what unnecessary spending is occurring and this is where some tracking may help over a couple months because there may be some spending.

You don't even realize it's happening and then you want identify that so you can trim it if possible and then finally step eight and this is where our new app can really help us step is to set up a system for tracking your expenses as you go forward. This is really essential to know whether you're on track with your spending plan. Now we think the best way to do that is our brand-new moneywise at bar development team and I do mean team of the three full-time developers are working on this for eight months and it is amazing. It's available now on the Apple and the Google play store if you just google moneywise app moneywise biblical finance what you find there is one of the core components of our brand-new app other than the community where you can engage the rest of the moneywise community and questions and answers and comments and I even jump in there and provide some comments periodically and replays as well as the live stream for the broadcast hearing. Each afternoon on Moody radio. In addition to that really the core piece is our digital envelope system and it's all the features I've ever wanted in a nap. I worked closely with the team to make sure everything was in there so you can connect to 11,000 institutions. You can download your transactions automatically.

It automatically categorizes it's a true envelope system so it's always staying in sync with a real-time balance from your funding accounts. Checking and/or savings accounts. It's all there, and I think it really supports our methodology for how you should conduct a spending plan and track it on a monthly basis and you can use it on your smart phone or your tablet. There's even a web app to go with it as well, so where you go to get that will just go to app.moneywise.org or go to your app store and type in your search for moneywise biblical finance app.moneywise.org there you have a date steps and Rob through excuse me, I'm going to throw in a step nine way back before one if you don't mind.

That's very good. I know I'm confused as well because you said you can save money by raising or lowering your thermostat will which is you save money regardless of race this season depends on the season this summer, you need to raise it winter or lower it.

Seeing a sweatshirt.

That's why you're the host and where was I going all you buy-in if you're married, it's important that you have mutual by a budget or spending plan will not work if only one partner is willing to live bilateral work on it. You really need buy-in.

And if you're struggling with that that we recommend that you really pray about this together. Kind of hard to fight about things when you're praying about it together and if that takes you a week or a month or year. That's okay do that because your budget just won't work in the long term and it won't cement your relationship the way a spending plan ought to under God's headship. All right here is her phone number 800-525-7000 Palm Beach Heidi, thank you for holding and what your situation, how can we help we are looking really thinking I shall arrange for a conventional know where considering I think where hoping to see you have any leather leash at a later league ticket manager Iraq break at least get the lease shall not permit. We are trying it out there I think would help purchase home or it might be better at 80, taking my country had clearly got right now I exceptional credit okay, so they just make sure I understand your Heidi and we appreciate so much a question today, when you're talking about this bank statement loan for a mortgage. Are you saying you'd be taking out a mortgage on a home that's currently paid off. Is that right now.

We held her account that we would be taking near market. Okay, so you're going to be buying the home moving out of the lease property to go out search for home and you're looking for financing for that home is a right back okay and have you decided how much you think you want to spend and do you have roughly 20% as a down payment. We have roughly 20 where looking at where we are in a country where where looking at height 400 500 okay well so and I realize that real estate there in South Florida is skyrocketed. The challenging thing is that, obviously with what you're calling a bank statement loan. This is where instead of requiring a tax return and W-2's and pay stubs and employer verification. You're basically just to rely on personal or in your case probably business accounts to prove income and cash flow because you're you own your own business and so obviously if you have inconsistent cash flow, or you can't get income documentation from an employer because you don't have one year in business for yourself, then you may not qualify for a conventional or FHA loan. Just based on that information alone and so obviously that's beneficial. The downside is you can have potentially higher interest rate. A larger down payment may be required. Not every lender will even offer the so have you gone as far as to see based on what you can show in the way of documented assets and business assets and income out what your potential interest rate would be and what required down payment.

You might have actually are. Our rate would be somewhere under and well just yet. Unfortunately that's considerably higher than where rates are right now. You know, with 30 year rates being you have good credit and good verified income should be south of 3%. You know were looking at 2.8. In some cases right now without even buying that rate down so obviously in exchange for the ability to get a loan you're having to pay higher rates so I would definitely shop that around, but I think I cut you off. What else would you reconsider 20 were very conservative. Eric at where both Legion and waiting and waiting and waiting and waiting for a crisis Kid Rock County, Florida anything to be going the way right now were comfortably affording. I have to believe that we don't feel better now.

Why he makes money and lead faculty from 20 to 20 oh so were looking at either taking lack right off no when we do our only direct taxes where we have we been black great accounting to get the courtesy of letting us know what we can write where I emailed we don't want to collect all held incompletely which later with more income to earth is clearly my neck high multiline caloric diet, but on the other challenge of making life income which they qualify for lack right edge. We go back full circle because of living right yes no I totally get that.

And I think that's obviously one of the challenges as long as you're within the law. In terms of what you're taking is a deduction that I would encourage you to do that. You certainly shouldn't pay more than you would be expected to based on the law, but I realize an unintended consequence, especially for somebody in your line of work. Farming is you have a lot of write-offs but it can show less income. So I think the key is you know if you've been at this for at least a couple years sounds like you have. You can show steady income, even if it's less than you might have been the winter might be looking for.

If you have other assets, and good credit, then you should be able to qualify for traditional loan, but if in fact you fall outside of the ratios. One way around that is to ask to put more money down as a part of this process, so that might be something to consider.

There, but at the end of the day if you have to go with this loan you can always refinance later. Just make sure the principal, interest, taxes and insurance is no more than 25% take-home pay to call the Guthrie today. Thank you very much for your patience as well. Do you know if you have enough money of 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 to create a long-term financial plan and how to get out of debt.

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Master your money by Ron blue available when you click the start button moneywise law.org.was the one who broke right next to S1 to 20 concern is concerned to live real real because the father is the patriarch, Isaac, and Jacob. Here is less concern belief system will work out fine… Glory plan to control our minds.this point what we we betray dear because of God.

You've been listening to more experience, more than one the financial wealth you leave behind could be the best thing that ever happened to your loved ones or the worst in splitting hairs, giving your money and things to your children without ruining their lives. Ron blue explains why it's important to make these decisions now, instead of forcing your heirs to do it later. Splitting hairs will foster a real appreciation for the precious resources that God has entrusted to you, and it's available. Click the start button moneywise law. I.org today, the question is a call right now 805 five 7000. A lot of people have suggested to me, off air that is sometimes a funny little scary. Rob an average of 20 people out there have no interest in talking.

I don't know why you've heard that all we back to your early dating years boy yet, but that's behind you and your swell guy and he's good-looking to this. If this were television you would if I'm lost nowhere did we want to live on. We wanted to.

I list as we had an incredible week last Wednesday through Saturday was our fall share here at radio and God's people responded in ways that were just kind of mind blowing.

To be honest with you I mean, they responded so generously we were able to to meet our goals and we were giving our listeners the thanks of course forgiving God all the things as well but it's right it was so much fun to hear from so many of you who were faithful moneywise. I listeners calling in talking about the program and mentioning that you you been a guest on the program at some point in the past and so yeah just want to say on behalf of our entire team here at moneywise meeting and Moody radio thank you thank you thank you for being so faithful to participate in what God is doing it touching and changing lives through the this radio program and so many up and down the programming day right here on Moody radio so thanks again for your participation. Amen. Thank you.

Already let's go to Illinois, Kewaunee, Illinois, and Marlena have to ask where was Kewaunee, Illinois and okay sounds almost like it needs to be in Honolulu or something in Hawaii where the rather exotic. Well Marlene, thanks for calling today and what you show where over 100 mile and you break our mount. You know, and I be 987 all expense that would be so 8704 by I'm not like you car you should Marlene perhaps is 1/3 option and that would be. We do the brakes and the amounts, if they're necessary, but you shop around and see if you can pick a little bit less.

That sounds a bit expensive about Steve's the car guys will get him to weigh in just a moment.

Here's my general rule of thumb is, I'd like for you to drive this car just as long as you can. We talked about the fact that we just turned in our minivan. A newer car recently and it had 235,000 miles on it. I like the idea of buying them, paying them off as quick as you can. If not buying for cash and then driving them as long as you can. Obviously if you have a car, even though they should run north of 200,000 miles without extensive repairs. The weather made these days.

If you have a car where the repairs are just continuing to mount and certainly if if repairs or even recent repairs begin to exceed half of the cars value, then it would be as a good rule of thumb time to think about getting a new or perhaps used car. But the fact that it would need brakes and mounts doesn't scare me.

That's a pretty routine expense.

I think the question is are yet the right mechanic. Have you shopped around and are there other bigger issues going on, Steve, anything to add here before we head to the break Marlene just a couple seconds and then will be back. Are you afraid to drive this car. Okay, let's go back and talk about more right after this brief break listening to moneywise live from West were talking about a few saber hear what you do. Investing is more than just return it's an expression of who you are and what you value is the way you invest your money like your identity as a Christian at eventide. We design investments for performance and a better world so you can invest with the confidence to reach your financial goals while remaining true to your Christian values and commitments.

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Find it all. Master your money by Ron blue available when you click the start button moneywise son John Scott, Pres. Robbins tweeted he will be leaving the Walter Reed Medical Center this evening around 6:30 PM Eastern. Mr. Trumbull return to the White House, the president tweeted that he felt better than he had in 20 years earlier day. Press secretary Kaylee McInerney tested positive for the coronavirus New York Gov. Andrew Cuomo says he's ordering schools in certain New York City neighborhoods close within a day to attempt to halt a flare up of the coronavirus. The restrictions I mostly it neighborhoods home to the city's large Orthodox Jewish community. Tropical storm Delta has formed and is expected to become a hurricane before hitting Cuba on a path that could eventually reach the US Gulf Coast talks closing rightly hired David out jumped 465 points. The NASDAQ was up 257.

This is SRA news moneywise live with less times more just before the break. Speaking Marlene who has a 2000 Buick saber. She's gotten an estimate on a repair bill for her brakes around $900 was that I'm thinking Marlene that was probably at a dealer that sounds a little little high.

Think you could probably do better than $900 but if you need all shoes and discs is going to be up there little bit because it's a kind of a big combination job now.

I asked you if you are afraid to drive the car if if you're if it concerns you to drive the car long distance, let's say to another state to visit friends or relatives or something like that if it really concerns you, then yes, maybe it's time to trade that in over or sell it and get something new.

But if all it needs her brakes and your basic upkeep has been there all along that I think you can get a few more miles out of it than 165,000. How do you feel about that mount body mount solution is that mean the car was rusted and sponsors in the cars rested in spots. I body mount are under the_body mount under the engine to on the side and three out of four are gone. Engine mounts the amounts yeah yeah and they been rusted today need to be replaced and obviously depends a bit on the cost but if you guys are really concerned about it and you might want to be concerned about it, then maybe it's a good time to get rid of the car at this point time but again it's it's his stuff starts costing you more than half of what the car is worth. As Rob mentioned, that's a great rule of thumb, so that would be a reasonable expectation and recommendation okay okay yes you thanks so much Steve, there's a little bit more here so that Jim is doing research today said Kelly blue book value on that for private party sales only around 1600, so obviously binding to have is is not going to take much, but that doesn't mean you shouldn't get a second or third quote perhaps call your church and see if they have a recommended resource goes to the church is known that they could check it out with and see if there might be another option. Yeah, I love I love this suggestion. Rob, thanks very much.

Let's see we have another color that we weren't able to get on the air, Rob, and I'm having trouble finding his call so maybe we can come back to that.

Well, what was it was Dave. He had to hang up and we mention the new moneywise app. A few moments ago and he called and asked if we would just verbalize his question here is as does the budget budgeting feature of the new app allow you to break down costs into different categories, as in itemizing a total from a receipt from like Amazon or Walmart and the good news is absolutely the team just added a new feature in the last two weeks were we can split the transactions and so Walmart would be great example you have a bill coming from our spending at Walmart, but it goes into three different envelopes you can just split that out and whatever those envelopes are, and that the team is adding new features all the time but that is one that's there.

So if you want to download moneywise app do that in your app store today. Just search for moneywise biblical finance yeah Dave, great question. I trust you are there to hear it answered. Thank you very much again.

Our phone number. We have open lines at 800-525-7000 Long Island New York dog you're a senior in college you're wanting to borrower thinking about borrowing some money would've the specifics are I think you might call my last year of college and I need to get alone for about $8000 or so, not too crazy in the past I have had a cosigner with this loan and now I want to get alone by myself with no cosigner. The difference between then and now the reason why didn't try to apply for a loan without it because I didn't have a credit credit score. Now I've had a credit card for probably about six months or so and I worked myself up to a pretty decent score and about mid 700 so my question to you guys. What do you think it is worth applying for this loan and potentially having it being my credit score.

Or should I just try to go back with a cosigner again, so I'm assuming you don't qualify for any federal loans at this point is that right I don't believe so now. Yeah okay so just for the definitive everyone listening to that unit with a federal loan you would qualify and parents would not be included in that or another cosigner with a parent plus loan they would be taking full responsibility for it and then with a private loan. Often there is a cosigner and most often a parent. I'm not a big fan of that, primarily because we look at Scripture we just see clear warnings that are very plain about the idea of cosigning the Bible is very clear that we shouldn't do it.

I would just add unless you're willing to assume responsibility for it, you're ready, willing and able to step in and not damage the relationship but often times people go in with the best of intentions.

For instance, in your case Doug. You might go in thinking yeah I fully plan to pay this back in a graduate I have plans to get a job, something doesn't happen the way you want. And now you've got this cosigner who's taken legal responsibility and in the event you can't make the payments they have the choice to either assume those payments so they don't damage all parties credit or you know to go and start paying at themselves and that often results in collateral damage relationally. Just because even though you had the best of intentions of taking care of it.

Now your unable and they have to either assume it until you're able to or have resulting bad credit and that just creates real problems, and by the way, the Federal Trade Commission tells us that half the time somebody cosines that's in fact the way it plays out. So for those reasons, I'd rather you not take a cosigner in their I'd obviously rather you not even take the loan in the first place, but it's always you're not borrowing too much and it sounds like you're right on the tail end of your college experience. Hopefully you would be borrowing a whole lot.

And you'd come out with an expectation that you have a job that would be able to support the amount your borrowing so you could get a payback in a relatively quick period of time.

So this thing doesn't hang over you for quite a while. So, bottom line, I would absolutely go into this look without a cosigner absolutely need the low order to finish her schooling doesn't make sense.

I would much rather all by myself with no cosigner.

It really just boils down to whether or not the company. Getting a loan that I don't have to apply for this loan to get denied?

I see you apply. I do yeah. Given what you're telling me I mean it's it's obviously difficult for college students, but not impossible. And in fact there are several lenders that specialize in loans without a cosigner. So I would check on nerd wallet as one option. You can also look at student loan hero.

Just do a Google search and you're looking for lenders that would give you the greatest likelihood I wouldn't worry about any temporary impact your credit score is a result of you shopping for this loan and keep in mind any inquiries that you have within a 14 day period for the same loan type organ to be considered one and you know I temporary decline of 20 or 30 points is not a big deal. So if this is the direction you're headed. I would absolutely go ahead and start shopping okay and were glad that you called Doug and we wish you the very best as you work through your final year in college there.

Thanks so much you listening to moneywise. Life is her phone number and we have so which is not often the case at this stage in the program is a great time for you to get through 800-525-7000 805 five 7000 check us out online. I moneywise she hears 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 on the radio and breaks it all down in a simple, easy to follow format that makes it the perfect reference to look 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.

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I don't know that there's a reason to do that just creates in my mind and take another safety concern.

So I probably would take something beyond that number and go and put it on deposit at your bank not saying that that should be the amount of your emergency savings weeks worth of money just a liquid dollar cash on hand, yet clearly different than emergency savings which I would keep an FDIC insured high-yield savings account and for that you'd want 3 to 6 months expenses but yet Arlene Starley's talk about your specifically cash on hand at home Arley were sorry to hear about your husband's passing.

We wish you the best with that and hope that information helps you today. Thank you out to Wyoming and Carla what you question for Rob this matter. I inherited money from my parents and I was wondering what would be the best place for that money. Sure, Carla. Give me a sense of what you're planning. With this money. Do you plan to reduce death are you looking to invest it.

Do you just want to keep it liquid for a period of time as a reserve account where you think I wanted to give my children I have three children and you know a couple of them are struggling because of the coalbed. So I would give them some of it and then I wanted to keep some of it liquid and invest in them only for probably living for 20 maybe 30 okay well here's what I would do the first place. I would put it is in an FDIC insured savings account probably get it out of your checking account. Just so you have some separation between that in your daily funding account where your living expenses are coming out up.

So if you don't have a savings account like that you can open up one at your current financial institution where you have your checking or if it's money you plan to keep in there for some period of time.

I like the idea of opening an online savings account with an online bank looking at a high-yield savings high-yield is relative. Right now it's probably less than 1%, but .8% is better than .0005% or whatever you're getting at your brick-and-mortar bank so I would look at Ally Bank or capital one 360 or Marcus. One of those. You can even looking at the American Express high-yield to personal savings. All of those would be great, and you can link them to your checking account. So be safe and protected with FDIC insurance that you can access the funds through checking with just a quick electronic transfer that would probably take 2 to 3 days at the most. So it's accessible but not too accessible then you want to go and determine how you want to allocated breakthrough that decide how much you might want to give out of that, and then with any amount that you want to give to the kids. I just keep in mind the best way to go about that is to follow the annual exclusion that you have for gifting purposes, which this year is 15,000 per person. You could go over that it would just eat away at your lifetime exemption which right now is north of 11 million don't probably need to worry about it. But if you stay within the annual gift exclusion than you know. You don't even touch the lifetime exclusion and then you'd want to make those transfers as the Lord leads, and then with any investment dollars, depending on how much it has or how much you have left you could either do that yourself with something like the Schwab intelligent portfolios or betterment, which is a kind of an automated Robo advisor approach to setting up a diversified low-cost ETF portfolio and that's just basically where you take an indexed approach to investing. You could get some more information at on investing from our friends@soundmindinvesting.org and you find a wealth of resources there and if it's money that's north of probably 100,000 a Carla that you want to invest I connect with a certified kingdom advisor there in Wyoming.

Just go to our website moneywise live.org and click on find a CK Carla, thank you very much.

We wish you the best. Let's see if we can get to one more today, Lena, Illinois. He and Jessica, you have a question about tithing wandering reporting your on your part, are playing right now yeah Jessica, I think it's a great thing to do. In fact, as long as you're getting for the right reason why we want to give out of a cheerful heart want to give as an act of worship is an extension of returning to God.

A portion of what he's entrusted to us recognizing it's all his to begin with, and I love the idea that you're a systematic giver to the local church. I think that should be the starting place for all of us. Now if the government is going to recognize that and say based on your giving to a 501(c)(3) not-for-profit were going to allow you if you itemize to deduct that from your taxes that I would say take full advantage of every opportunity given to you by the government to reduce the tax liability we should certainly render unto Caesar what is Caesar's. I would even go as far as to say we should do it with a thankful heart because taxes paid are symptomatic of income or provision from the Lord but I don't think that in any way discounts the idea that if a discount artist gives me a deduction is available to us that we shouldn't take it.

I think we should and I think that would apply to any giving to a nonprofit, including your local church for your time. So the reason they give you that statement is for the reason that you're describing here, which is deductibility on your tax return and so I would take full advantage of it. Jessica, thank you very much great question and arrived with just a little bit of time left.

It's been kind of a crazy weekend with the coalbed and lots of headlines that were not quite sure of these days when it comes to the news in the upcoming election and Nicole Virden all the rest thoughts, anything that the Lord's been saying to you over the last three or four days that there might help him lesser listings of their work through this themselves. You know Steve, I think it's it's a season where we need to be leaning into God's word and we should always be doing that but I guess here's the thing that I've been thinking about lately is perhaps for some of us, this is a time that we should turn down the noise of this world and turn up God's voice and that's always a good thing to do.

But if you find yourself getting maybe concerned or frightened may be fearful as it relates to your money or anything else I may be overly anxious. I would just make sure you're spending time in God's word and perhaps years and need to turn down some of the other voices and inputs into your life as a relates to your money. I think we always need to start with this idea that God owns it all and we are his manager see your manager of the resources of the King of Kings and the question is what is God want you to do with his money and make sure that the story being told with how you're allocating his money reflects what's really important to you and if it doesn't make a change and perhaps that would be starting with dialing up your giving and dialing back your lifestyle. I don't know what it looks like for you, but I would just always be prayerful and asked that question. Lord, what would you have me to do with your money, so those are just a couple of random thoughts, but hopefully that's helpful thing is very helpful.

I mean, there's a very good chance that to those of us alive and living in listening today that this this covert situation may be unique to us in a once-in-a-lifetime situation and so would be a shame to miss what God has for you during this difficult time. Obviously there is growth involved whenever we face difficult time. So pray about that and were glad that you listen today and am glad that you tell a friend about the program as well because moneywise live as a partnership between Moody radio and moneywise media. We would love for you to tell a friend so that they can tune in and listen as well. My thanks to Aaron and Amy and Jim. Jim, of course, in charge of all biblical and automotive research. I remember that this month all car sales are final. They come with a free set of moneywise formats and cash mounted deodorizer. Thanks. Join us again