6 Saving Blunders

There are two kinds of littleness world the fortunate ones who learn from the mistakes of others and the rest of us who have to want to others when it comes everybody have to know what the deal is not advised Pres. Rob West tells you how to learn from the saving mistakes of people manager calls at 805 five 7000 toll-free 805 five 7000. I'm Steve Morris six savings monitors next right here Rob, how hard is it to know, getting a good deal on something you buy it for less than the going rate less than it was yesterday. According to the sign and you save some money so war. What more is there to know a lot of it depends on how, when and where you buy something that determines whether it's a good deal or not.

And advertising, promotions and coupon offers can make that pretty challenging give you an example. Thinking that just because something is on sale you're getting the breast best price would be your first mistake, let's say the stores offering an item at 10% off. Well, that sounds good but how do you know it's not 20 or 30% off somewhere else these days it's pretty easy to find out there are any number of free apps that will tell you the best price for an item in your area. Obviously you want to use an app like that before buying something expensive but also for cheaper items that you may want to buy in bulk. Okay, good. Unless people are buying in bulk these days and you can go to your App Store and download one of those comparison apps. That's a kind of a no-brainer. What else well. Speaking of buying in bulk, there's a way some retailers make something look like a better deal than it really is so an ad might say $25 off if you buy 10 $50 off if you buy 2012. You do the math you quickly see that the savings percentage remains the same. So it's just a way to get you to buy more with no advantage to you. I knew I should've paid attention in the seventh grade that is that is you only think you're saving more money just don't depend on the truthfulness of those signs. What else about next is buying on the cheap. There's nothing wrong with checking out the clearance section of the store because sometimes you can get a deal there but you can also get burned in a clothing store and item could be on the clearance rack because it's missing a button or has a loose stitch in the grocery store items could be nearing their expiration dates. You got a check for that if something is flawed or about to go bad. You perhaps are not really saving money. And that's a good one. Buyer beware right. Anything else.

Well, this is a big one that millions of people fall for Steve getting a store credit card because they offer a discount on your first purchase or cash back on regular purchases and why is that well first of all, those discounts are probably less than the rewards uterine with a regular credit card. Second, unless you're incredibly disciplined you'll end up carrying a balance and store credit card interest rates are really high usually much higher than bank issued cards but there's another option if you're planning to make a big purchase at a big box store. Instead of getting their credit card see if they have any newsletter. Sometimes they'll offer a one time discount of up to 25% on nonsale items just for signing up.

In fact, I did this just the other day Steve, while I was getting an oil change.

I quickly googled the company I was using. I was able to get a text message with a coupon that I used before. I checked out man went to Galway to go and if you don't want that newsletter. You mentioned after using the discount just hit the unsubscribe button now seem to be doing and I seem to be doing a lot of that these days, that's great. Yeah, you're exactly right.

Let's get on to the next one that's loading up in your online shopping cart just to get free shipping. Sometimes the minimum order is as high as $100. That's no deal unless you really need the extra items, and always check out a few other online retailers first to compare prices and shipping rates you have, you might find a bigger discount somewhere else and you might be able to save more without free shipping. Okay any final thoughts before we wrap this up today and then open the lines for any financial calls by the way, that phone number again is 800-525-7000. Anything financial. Even if you want to tell us about your Christmas shopping or get our sizes just in case anything else. All right, one more, that would be falling for daily deals.

Savvy shoppers know not to fall for hurry up by now, but all that those daily deals really are just a pitch to get you to make the purchase, so you don't miss out.

In many cases, you'll find another stores regular price will match or beat the daily deal and again you can do that easily with a comparison apps.

So ignore daily deals sends one app you can do from her delete from your photo shoots and of course when you're shopping. Try to have budget your calls next, five, 7000. Many people are experiencing financial challenges such as credit card debt downsizing that in jobs savings. In fact, 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 Christian healthcare ministries enables believers to show love for one another by sharing each other's health costs through CHN's voluntary health cost-sharing programs members uplift each other spiritually and financially. CHN was an eligible option under the affordable care act and a Better Business Bureau accredited charity interested. Learn more by calling 800-791-6225 or online at CH ministries.more like your family to join them in unwrapping the names in this Moody publishers begins with an interactive family devotional offering five daily reflections that this week's name and include suggestions for fun filled family activities service project focus on the birth and the character of our Savior. More information about unwrapping the names of Jesus is available@moodypublishers.org retirement. What comes to mind. Yeah, that's right, but it may be that God has a greater purpose for your retirement and what you just imagine his book uncommon guide to retirement payment suggest that retirement needs to be both a Biblical and practical perspective redefine his next patient self surrender retirement away restful your copy of an uncommon guide to retirement@moodypublishers.com money and life run on the same track. Unfortunately, sometimes it seems like your money is heading in a different direction from your goal, and 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 moneywise live out of work with us today moneywise live's Rob West times Warwick on Christmas shopping. Hopefully well if you haven't started it made a list and checked twice, and if were not there. That's okay, but would love to chat with you one way or the other. So place that call 800-525-7000. Speaking of gifts, let me just say a big thank you to Chris Brock in Colorado. So Chris is the operator of a Chick-fil-A out there, became aware that we happen to frequent Chick-fil-A periodically, and fish. Not only is he a supporter of moneywise, but he sent a bunch of free chicken sandwich coupons which you know, this time a year. Any time a year frankly were always happy to receive. So a big thank you to Chris and Vicki out of Inglewood and I mean I know you don't like licking stamps but it would hurt.

Should I throw a couple in another can send him this direction away Steve Moore like in a bag and they sure love those waffle fries 805 to 7000 Rhinelander, Wisconsin. Sue nice to have you with us today. What's on your mind calling plan. And I know I moneywise that you will not forget about using social media to promote your business with people feeling like they've emerged my just going on and we we don't know we don't have a week Before we left and have all the code listings meaning may change their menu. They came to our my 49th anniversary of the person with a locking understand Sue. It's a great reminder. Especially these days it seems like everybody's hours are in flux people are adjusting and changing and moving in the times that things would have normally close there not open as long and I were expecting certain things and it doesn't necessarily pan out so yeah always a good idea to perhaps call before you go and you're exactly right you perhaps think your customers are up-to-date because you put it on social media, but in this case it didn't work out so maybe they need a little longer lead time posting these changes so it's a good thought, though, we appreciate you checking now this might be your lucky day Sue, because I don't know if you heard Rob a couple minutes ago but he has Chick-fil-A coupons I do anything what you think or if you already have that anniversary dinner. You probably have already done that what we were hoping you sweetheart God bless you and your husband hope you have a wonderful Merry Christmas is here.

All right program. Thank you. Thanks very much. All right. Let's stay right here in the state of Georgia Diana what you question for Rob West. You really enjoyed your program. I stand and brought a line almost 20 year thick out and they sent out a letter to us saying that it expired 2021, and that we have to pay maybe $1500 a month for the premium wondering when that money because we paid over $30,000. 20 years ago yeah yeah well here's the thing to keep in mind on that, Diana. When you're buying term insurance which is frankly what we recommend for most people you're buying pure insurance so you are simply paying with that premium every month. The mortality cost. What that means is there someone back there with a big calculator that's called an actuary there determining based on your age and your health status when you take out the policy in the amount of coverage what it takes to cover you in terms of what that monthly premium is based on the likelihood that your gonna live to the end of the term, and you're paying the mortality cost. The cost it's been calculated based on them, providing insurance on you for this period of time when you do that that gives you an exchange.

The peace of not mind to know that if something happens to you or something happens to your husband during that season of life where you're counting on each other for income or there would be an additional financial burden placed on one of you with the other ones passing out that that's taken care of because you get this large payout in the form of life insurance death benefits that would come your way, that then you could convert into an income stream. So there's a cost of that and you've run to the end of that now with term insurance. There's not an intention or shouldn't be to continue to pay it beyond the level term. It's going to be sky high and you wouldn't want to pay those numbers what you want to do at that point is replace it with another term policy that's going to be a little more expensive because you're obviously a good bit older, but hopefully for a shorter period of time because remember, we want to get to the place where you don't need life insurance at all because your beyond your working years. You saved you have other assets that are there to support you if of the Lord calls one of you home. The other one has what he or she needs to sustain their lifestyle and other financial means so you don't need to look at it as you been paying for something that was really important in your financial well-being to provide you stability it was a lot less expensive though than what you would call a whole life policy where there's a savings vehicle attached to it.

So even though it's a considerable sum of money it still the most cost-effective way to offset what is the largest risk for most people, and that is one of the breadwinner winners in the family dying during the working years which would create a real financial burden for the rest of the family. Diana does that make sense to understand that higher premium we build with that. Oh yes you and you. It's not a matter of I want to be clear about this, Diana. I wouldn't even if you could afford it. I wouldn't want you to pay that higher premium. When I get to the end of the term for term life insurance.

It's gonna be way too expensive so you're gonna want to now before you get to the end of the term find a life insurance agent they could go out." A new term policy for you that's going to be much more reasonable, but you are correct, you've been paying for the death benefit. The mortality expense associated with the the risk the insurance company was taking that you might die during this period, and there's a cost of that. But in exchange you have the peace of mind to know that that money is there just real quick what is the death benefit do you do you know about 100,000 okay and help for you from retirement. Okay, so what you want to do is you want to determine. Do you still need this policy or not and it could be that you don't any longer stand will I will talk a bit more often will be right back. 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 80% faster while honoring that data and phone to learn how Christian credit counselors can help you visit Christian credit counselors.org Christian credit counselors.org or call 800-557-1985. You probably have a strategy for your finance your career even your retirement strategy for your getting Christian foundation and your family maximize your resource to learn how many lines.org selects the one I want you to feel free single three time for everything to be born in a time time to plant brute time to heal.

Time to tear down and a time to build time to time to laugh time to you time to get a time to embrace and a time to refrain time to start the time to give up, sometimes to the time Mr. keep and a time to throw away time to tear and speak time to time to hate time for peace time and only love it and we love being here with you today and if we can help you with anything financial, something you been wondering about a situation or problem you have talked about it. Let's see how God's word applies 800-525-7000. That's her number and we happen to have open lines 800-525-7000 before the break were chatting with Diana. She said something once maybe twice that a lot of people feel that if they've purchased term insurance for 20 or 25 years and they put quite a bit of money into it.

They feel as though than the policy comes to an end. They might feel as though they've wasted that money, not soul, but how help us understand that and they get our feelings in line with reality.

Yeah, it's a great question. The first thing I would say Steve is the idea behind life insurance I think comes right out of scripture in that first Timothy is very clear that we need to provide for our families. So how do we provide what I think one way is offsetting to the ability we have to do it. Offsetting risk and one of the largest risks we have is during our working years.

If one of the spouses dies. In particular, a working spouse prior to saving enough for retirement, then it would create a real hardship for the family because that income is gone and now the remaining spouse, especially for small children. But even if they're not, perhaps they can't make that up, which would require a significant shift in lifestyle. So to offset that risk and provide for your family. You buy life insurance with a specific death benefit that is commensurate to the amount of income you're bringing into the household okay will the best way, the most cost-effective way to do that is with term insurance or not adding a savings vehicle to it.

You're just simply paying the mortality cost. The expense associated with the amount of coverage for the length of time based on your age and health that you get to the end and to your question Steve.

You could feel like why just throw all that money out the door because nobody died. I didn't collect anything I'm going to drop the policy and so now it's all gone now but you were paying for the peace of mind that comes to know that if something happened to one of you that that money would have been there and thank the Lord, you didn't need it. It's kind like having a car insurance you drive around knowing that you're covered and you're not upset if you don't get in an accident you're thankful right but if you do you know that you can K repair for the medical bills and you can repair the car and those kind of thing. So I think that's a shift in thinking perhaps for some of us but still very worthwhile to care for our families.

Well said well said thank you Rob are back to our phone lines Chicago, Illinois. John, thanks for holding my friend what's on your mind. Well I concern because I own three weeks of vacation time share for 30 years and they've been paid for for long time, but my concern is the maintenance fees every year I have to continue to pay maintenance fees and they continue to go up and this year 2021. My please for $2000 for three weeks now gone to some of those times year exit programs and each time that I go they want to charge anywhere from five to $7000 per week for me to get out of it and that you talk and 25, $20-$21,000 which I feel is a ripoff and think about all the vacation time share in my concern is a mono I'm 73 years old and I'm on a limited income and I don't travel as much as I used to. In the past. So my concern is what options do I yeah well John appreciate so much your call and we don't partner with any timeshare exits, organizations or companies. It's not that there may not be some good ones out there. I've just never felt terribly comfortable with with any strategy to get out from a timeshare apart from what you can do on your own, and even then it's very very difficult challenges.

There so many people who feel exactly the way you do now. Maybe there was a season of your life or you like these timeshares and if so, that's great. I been doing this while Steve's been doing a little bit longer than I haven't. Steve, have you ever gotten a call from somebody says I love my timeshare and they may be out there and it doesn't happen often and so I only say that to say just if you don't have what you think about it makes.

Are you going with your eyes wide open, but the problem John is are so many people looking to unload them that there's more inventory if you will, then there is buyer so it frankly just makes it very difficult.

So where do you go from here. Well obviously you want to call the management company see if they can help in most cases they can't because they're trying to sell their own but you might as well place the call that beyond that there is a website, a users group on the website. If you not on the web.

If you've not been there I'd check it out.

It's it tug to number two.net to UG the number two.net and tug stands for timeshare users group and there's a lot of great information about selling a timeshare. There's even a marketplace to help you do it that could be a secondary market that perhaps you could utilize to unload this but again, because there is low demand, and often a lot of supply. It makes it real challenging you can advertise it locally, you can advertise through social media you consider could consider renting it out. I don't recommend some suggest offering it to charity. But then they're responsible for the maintenance fees. So at the end of the day. We just don't have a real good solution because I don't think there is one apart from just doing the legwork and see if you can find somebody who would genuinely be interested in taking this over job. We wish the best for that. Thanks very much. Our a producer today. A gentleman who's been with us for a long long time. His name is Rich and he and his wife had a timeshare for quite a while a while they've enjoyed it rich informs me that they would never ever do it so you know beasts. Dave enjoyed the time they have had their but being thoughtful and careful before you make any long-term decisions like this probably have a quick email. This is from Kennedy.

We have an income that varies every month, making it challenging to stick to a budget. Any advice for us. We understand that yeah absolutely a variable income can make a challenging, here's what I would do.

I would look back over the last 12 months.

Kennedy and I would take the average income that you have per month and I would base your budget on that average and then the key is to have a separate savings account so that as you have the months where your income is higher than that average. You can park that in the savings switch is just an ACH transfer away a little electronic transfer away from your checking and then in the lean months you transfer it back what you want to try to live on a consistent amount if possible. The key that is making sure that budget is based on that smaller conservative average and by the way our new moneywise app can help with this. Go to your app store on Google player the Apple App Store search for moneywise biblical finance. It's a digital envelope system. The best one we've never used and you can download it today and if you have an email question from Rob make it brief, short, send it along to questions moneywise.O RG moneywise returns after investing is more than just returns.

It's an expression of who you are and what you value is the way you invest your money reflect your identity as a Christian, and even tightly designed 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. We call this investing makes the world rejoice more is available@investeventide.com investing eventide.com. 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 the topic of 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 how you reach people who call themselves Christian but don't know Jesus find out by reading the unsaved Christian Dean, and Sarah was a cultural Christian today.

He pastors a thriving church that he wrote this book to offer starting points that lead to deeper conversations you will be equipped to confront cultural Christianity and lovingly share the gospel to the cultural Christians in your life. Cultural Christianity is a huge mission field in desperate need of missionaries get your copy of the unsaved christian@moodypublishers.com feeling that it's time to make a change in the possibility of a position like number of and radio management national and not worth your time and position openings available now. You'll find jobs online jobs..org how did you feel the last time you made a not so good decision as pastor Andy Stanley points out our decisions, like the steering wheel of our life and so you get decision-making right you get life right in his new book, better decisions and fewer regrets.

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So you can feel confident you're getting it right to request your copy with any gift to moneywise of $25 or more at moneywise live.Commissioner Stephen Holmes is today's meeting of the FDA vaccine advisory panel is an important day for all of America. He says he hopes it will leave the beginning of the end of the pandemic president from announcing that Israel and Morocco will normalize relations with the latest diplomatic coup president from as he continues to seek Arab-Israeli peace residences as real and Morocco will restore diplomatic and other ties Morocco, the fourth Arab nation to recognize Israel under Pres. trumps Abraham Accords framework and consumer prices edging up to 10% in November as rising energy costs in a variety of other items offset a drop in food cost. According to the Labor Department stocks punishing mix that I lost 69 points. The NASDAQ gained 66.

This is excellent news to our technical today doing all things technical. Amy and Deb and Rich and who we mentioned earlier, and of course Gabby tea with us today is Thursday that T stands for twinkling as in your tree and in her personality Higgins Pennsylvania Alan what's on your mind's years ago, real estate investment and they told me at the five years to get 1/2% interest rate and they told me that I could add to that at any time.

So here, six, seven months ago I got some inheritance and did most of that bond problem. Now I have liquidating out collectibles and stuff. I have accumulated some more money and I wanted to put that to that. I called them up trying to arrange it and then they told me that I couldn't do that that the only way I could put in by the hole on and put it in again at 7% interest and I don't think that's right. I mean, that was put in for five years and they told me I could do it at any time, so I do about that.

This is not obviously publicly traded so is this what's called a private placement.

You know what I got it say for like 10 to 12% interest, but it would be at higher risk. They told me that this was the lowest risk level that that that would be least likely to lose what happened okay and have you been receiving percent payable monthly or quarterly or is that just accruing court" inside the fund for you in getting it just like okay you get a statement quarterly or something like that. I get a monthly statement okay well you know it's not surprising that this type of investment would be fully subscribed, and therefore you would not be able to add money to it. Often times is a stated amount of money that they're taking into the fund or the private placement. Once they fully subscribe it, then it's closed. At that point and then they might open another one there or something like that. These tend to be very liquid. There is a good bit of risk associated with them. But you know, it varies. Obviously, depending upon what is and what types of properties are inside the fund and how much debt do they have in you know is there the risk you know is this commercial real estate which you know it is obvious and not doing as well right now versus your single-family townhomes mean it's all over the map in terms of what's here, but to your point or question. I'm not surprised that it would reach a point where you would no longer be able to add money to it. So I think the questions I would ask you would be first.

Do you want to add more in the sense that you don't want to be too highly concentrated in any one investment. It sounds like you been putting a good bit of money here and I like the idea that you'd be diversified.

Perhaps away from this investment may be into another asset class altogether like stocks and bonds because of something were to happen in this particular fund that I don't want you to have so much of your money allocated here that it would create a real hardship for you so I don't know that it's a bad thing that you can add anymore, especially since you haven't been getting any payouts and it's all been accruing but where you'd want to go to really understand the details the finer points as you want to ask them for the prospectus and that will give you all the details as to how much was originally available to be subscribed in the status other than you all the inner workings of it, but at the end of the day, it's not necessarily something wrong that you can't put more in. That's typical and I think I would really question whether your properly diversified in and ask you to consider maybe moving into other asset classes even though you been enjoying this half percent return Ellen.

Perhaps I wasn't paying attention. Did you say anything about wanting to take your money out but you don't you want to take it out as outsourcing okay okay okay yeah would it would raise a red flag if you tried to take money out and you thought you could and they pushed back on that. But if that's not what they're saying that you want to pay attention to Rob. Certainly not me. I guess I've been watching too much television recently but that does happen. Ellen God bless you, thank you very much. We trust that helps you down to South Florida. Lisa welcome to moneywise what's on your heart.

I call our big repair property. No asked me how to go about it. We had started and hurricanes. We might have to replace the entire will honor property report, and that would most of our savings if not all of it Carol were thinking about that and not have anything how long is that roof on the house. Lisa okay yeah you know the challenges that I'm from South Florida and you know those asphalt shingles typically are only expected to last 10 to 12 years. If you have the higher-quality architectural shingles. Often the lifespan on those is 1520 but given that your 20 years plus, you probably doesn't make a lot of sense. Again obviously have not expected the Coleman nor would I be competent to do so. I'm just telling you got a useful life year for the average home with the type of roof that you have there and in South Florida yeah I would say you're at the end of the useful life. So you're continuing to repair it, especially with a significant repair and you're right you're thinking about hurricane season and that's a reality down there, it probably makes sense for you to go ahead and thinking thinking about replacing it. Now the question is how you go about doing that. When I hear you say use all of our savings that causes me some red flags. Depending on the stability of your income and be comfortable with you going down to a couple of months worth of income and savings, but probably not. Below that, because I would want you to be in a position where you're completely out of savings and therefore you have to really rely on credit cards or something were to come unexpected. So I think I would be careful you could use some savings, but keep some margin and that if you need to borrow to do it.

Assuming it fits in the budget.

I'd be looking at a home equity loan at that point. Okay Lisa credit card okay now I think they should know about about this being a South Florida boy you made right here in Georgia our roots to last as long because of the hot summer weather, but done in Florida. Obviously an even greater situation and then you have to be concerned about things like hurricanes.

Yeah, it's a because of that, he that's a totally different style of roof with the asphalt shingles and then the architectural shingles that are often made of other things altogether completely different than what we have here in Georgia and other parts of the country they can be expensive, that's for sure that you're listening to moneywise live will become back will speak with Sue in Indianapolis.

Her son is in his 20s. Want some advice to build credit for eventually buying a home and then Marty and Carol are after them or after her will be right back after this all wrong turn when it comes to money all and you steer clear financial potholes magazine is all about helping you make money wise decision.

High Articles to scare you right direction. You are free inspection is waiting for you.#3 I need some help. Sometimes I feel like I can't get a handle on my money. I mean where is a no go.

It sounds like you need the money might help you plan your content and track your spending three dollars you spend every morning on coffee every morning and get access to difficult financial advice sounds awesome. Let's do it. Okay, searching for moneywise is very Maguire car guy here to help me understand God's purpose for your life to the eyes of a layman, would you make a commitment to move everyone your list today closer to Jesus for your spouse to your boss to the clerk in the store. The stranger in the street in the operator and the phone you can do it without courting a single Scripture don't know your disciple by your love. You don't need any training to love 100% of the people you're with today are desperately seeking love, mostly all the wrong places.

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Sure sounded like they had a budget well we have a budget here at this ministry wrap and we know exactly how much money we have to pay the bills next year and it's vitally important that we occasionally hear from our listeners, it's exactly right and were trying to close out what has been for everyone.

A really interesting year were trying to close that out strong and you can help us do that. We still have a little ground to make up as we finish this year and prepare for all the ministry were to be able to do next year and let me just say we have some exciting things coming on a lot of fronts. I can't wait to tell you about the next couple weeks, but if you would consider a gift or as we head toward year in between now and 1231. We had a generous donor who so excited about the work of moneywise that they said I want to double every dollar that's given between now and the December 31. And so if you want to double your impact you can do that by giving to moneywise media is a couple ways to do that. First, let me encourage you to head over to our website moneywise live.org just click the donate button moneywise live.org and click the donate button or if you want to text to give. Here's what's going to happen.

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Amen to that. Thanks Rob you know I have to chuckle over the years I had more than a few people say to me you know you guys talk about money so much. I just assumed you had all you needed weekly budget. So typically we have all we need, but it's not a bottomless savings account and we need you. We need your prayers.

We need your financial support of God touches you in that way.

So thank you so much in advance and thank you for your help and support in the past as well Indianapolis so I understand you sent is in his 20s, and what kind of help or advice. Is he looking for get started on and after quite a start. I went home and that he should be feeling like that what he said look to prepare for absolutely well Sue, I'm delighted to hear your ass to this question you're walking alongside your son is he's preparing for his own financial journey as an adult couple of things number one as we were done here today want you to hold the line. Deb will get your information and want to send you a copy of Howard Dean's book your money counts and I want you to give that to them for Christmas. I want you to tell if it's from Robin Stephen put a really nice bow on the top of it, but we wanted to read that because that's good to give him God's perspective on managing money. It's can give them all the key principles, starting with the fact that God owns it all and that he's a manager or steward and money is a tool and that he should give generously and he needs a spending plan and a budget. By the way, he also needs to manage debt wisely as well. It's all in the book that with regard to credit. I think really the key for building credit and it's not unexpected that a young man starting out is to suffer from a lack of credit of the key is to start building your history as an on-time pair and one of the best ways to do that is either through a an unsecured credit card which are readily available these days as long as he's willing to commit to not to carrying a balance month-to-month of living on a spending plan if he just puts an automatic charge on their something he's paying for it. Anyway every month.

It could be just a few dollars and then he pays it off that's going to be reported to the Bureau that he's in on time payer every month and that by itself is good to begin to establish his credit if he doesn't want the unsecured card or you think is not ready for it. He could do a secured credit card as well at his bank where he put a couple hundred dollars on deposit date issue a credit card he could use it up to that amount pay it off every month and again that would be reported to the Bureau, but he would build get into debt because most he could charge a be what's on deposit at the bank but in either case that's really probably his next best step and I want to encourage them to set up a spending plan or a budget and I think our moneywise app can help with that as well. So maybe I'll check that out. So a great question. You guys sound like concerned and loving parents and will get that book right out so you can place it just so under the treaty, Austin, Texas, taking Marty how can we help you today, taking my call.

My weight for years and have 14 Wellington girl and not I have five I'm thinking I would like one.

Now why look obviously a lot going on here Marty I'm so sorry to hear about your husband's passing and I love your generous heart that you want to bless your kids with.

I guess the only thing I'm thinking is number one is in either case, I think you know, perhaps downsizing, taking some of the complexity out of your financial life would be a good thing because I can imagine managing five homes is probably taking up a good bit of your time so I think that would be one benefit here, but I think the question you have to wrestle with this would be better to just sell the homes and then start gifting money now to the kids. You can do that 15,000 a year without impacting any of the gift tax based on the current gift tax exclusions and you could start blessing them with some amount again 15,000 per child and then at some point.

Give them an inheritance. If that's the way the Lord is leading, but it would allow you to do it in a much more equitable way and in a way where you could pray through. What is the right amount for each child. Because remember, although you might want to give them the exact same amount, one of the principles Ron blue talks about in his book splitting errors is if you love your children equally.

You will treat them uniquely and what he means by that is, depending upon where they're at in their life stage and much money they're earning and whether they're married, and whether they have children and maybe one of them as a single parent and you know they may have different needs and you may not give them the same amount again. You want to do that prayerfully, but the challenge with giving them each a home is there going to very significantly in location and value in it and I just think that may be more complicated than you might want to deal with and not to mention the relational side of that, that could create some challenges as you make the decision as to who gets what. So first thing you want to do is be on your knees asking the Lord to give you wisdom. Second thing is, you probably don't have one. I'd encourage you to connect with a certified kingdom advisor who can help you wrestle through these and give you some wise counsel. But then thirdly, I might consider what it would do for you just to go ahead and sell these homes and then allow you to begin to systematically get this money to the kids over the years ultimately give them an inheritance and if you're somebody who likes to give perhaps take a portion of each home sale and put it into what we call a donor advised fund where you could have them start to give some of this money away to charity your ministry so a lot there to think about and wanted to do this once you hold the line as well and will send you a copy of that book I mentioned splitting errors and I think as you read that. Perhaps that will give me some other ideas.

Marty, thank you very much, and after the holidays. If you're still a bit confused about what to do. Feel free to give us a call back must try to squeeze in Carol West Lafayette, Indiana Carol, just a couple of minutes. What's the scenario, there were following our best people that the sale of the business that managing a real date.

Be sure I trust set up right on dealing with back then I will good question that we be asking that companies that work.

Working with the first thing you got it wrestle with Carol is just what professionals do you need as you navigate this clearly you need an investment advisor.

If you don't have one to manage any investable assets. Obviously, tax advisors, I suspect, with the complexity in your financial life you probably have those folks a godly estate planning attorney would be another one to make sure that you know where there's trust needed and so forth, that those are in place and perhaps one piece of advice you haven't thought of is giving advice that you're in West Lafayette which is about an hour. If I'm not mistaken from Indianapolis there in Indianapolis is one of the local offices of the National Christian foundation and I'd encourage you to visit with my friends at it NCF there in Indianapolis because what they might be able to do is help you think in advance about any giving you want to do out of the business which if it's done prior to the sale can really help you save it on on taxes and get a lot of money into ministry and charity, or perhaps even to your local church in a very tax efficient way. And so as you consider that I might connect with the folks it NCF there in Indy but then beyond that, I would start interviewing certified kingdom advisors there in your area. You can find those folks@moneywiselive.org just click find a CK and you're gonna want to begin asking them what competencies they have what they believe you need to be thinking about as you prepare for all of the transitions that are going on in your financial life where money is gonna be in motion. Which is where planning is required. And you're gonna want to know that they're going to ask you lots of questions about what God is doing in your life. Of course the standard stuff as well. How do they get compensated, and how much experience do they have, how you will fall into the rest of their client base, so you know, where you stand versus the other folks that they serve all of those are things that you want to be asking, but that would be the next place that I would go I'd find a CK released a couple of them to interview in your area and then I'd connect with our good friends at the National Christian foundation, either nationally or in the Indianapolis office and their website is NCF giving.com NCF giving.com yes, a wonderful wonderful organization that given away billions of dollars Carol. We appreciate your phone call today. Thanks much money wise.

Love this program is a partnership between radio and moneywise media. Thanks so much for your prayers and financial support. I hope will join us again tomorrow