Christian New Year’s Resolutions

Hello and happy new year. It's the first day of 20, 21, and will begin with the question what's the one thing most New Year's resolutions have in common about that.

Most of them don't make it Groundhog Day. But that doesn't stop most of us from making new resolutions every year. Hoping this time will be different financial planner and future Rob West has some ways to help you achieve those goals. This time I know today's program is prerecorded, so don't call in, but we do have some listener questions already lined up and will get to those shortly Steve more Christian New Year's resolutions.

That's first today moneywise to Rob.

First of all, happy you choose the things you think so many people make New Year's resolutions, and so few of them are kept to a great question.

I think the reason we make them is Hope we hope we can make our lives better by making these improvements and the failure rate is high because even though many of these resolution sounds simple like lose weight. They require fundamental changes in lifestyle surveys show that the majority of us still make New Year's resolutions, but less than 10% of us actually achieve those goals. Are you looking at me strangely and not at all. I was okay. I will order what are the top New Year's resolutions. Well, there really aren't any surprises here. A survey of 2000 people showed that going on a diet is still number 171%, followed by well more exercise at 65% surprise money did make it somewhere in the top well actually it wasn't far behind. Save more or spend less came in fourth.

That 32% after that came learn a new skill quit smoking find another job and spend more time with family and friends. So pretty much what you'd expect.

Okay. And all of those seem like worthy resolutions to me. But are we saying that Christians shouldn't make those no, not at all. Those are good things to strive for in life, and it's fine for believers who want to make those improvements. However, there are other resolutions that Christian should make that will help them achieve greater success in all of them in these Christian New Year's resolutions should focus on God. In fulfilling this will not our own for resolution honors him. For example, he's more likely to empower you to achieve that. In my view of these Christian resolutions as were labeling them might come first or be in addition to things like quitting smoking will order what are some examples are far great place to start. Steve is by asking for guidance on what resolutions God would like you to make James 15 clearly says if any of you lacks wisdom, you should ask God, who gives generously to all without finding fault and it will be given to you then resolved to pray daily for wisdom and strength to keep the resolutions you feel God is leading you to make it. We know that God works through people so result to be accountable to another person for sticking to your resolutions. That of course can be a two-way street with you helping to keep the other person accountable to now if you keep the resolutions we talked about so far, seeking God's will. Praying for wisdom and strength in making yourself accountable. You'll probably start to see success fairly quickly and you might start feeling pretty good about yourself. Well, that's where our next Christian New Year's resolution comes in. And that is resolve not to take the credit for that success. Let's go back to God's word. Philippians 4 verse 13 I can do all things through Christ who gives me strength to keep in mind that it's God empowering you to achieve success with your resolutions and you'll still experience setbacks along the way. But knowing that God is with you will make it much easier to get back on track whereabouts mother New Year's resolutions are Christians might make things like I may be reading the entire Bible. Over the year were up to pray more to church more often. Those are good hunting. Clearly we should all want to achieve them. But maybe sometimes we fall short because were making these spiritual resolutions if you will for the wrong reasons maybe to make ourselves look good.

Instead, be sure that your motivation is to in fact honor God or a desire to grow closer to him or to become more Christlike and I like that you know. I will admit here if you don't mind Rob that every year. One of my resolutions spiritual resolutions is to spend more time in God's word and also to spend more time trying to memorize God's Word. I have my good seasons in my not so good seasons and I know it's hard to believe. Just by looking at me but I have not memorized the entire Steve I believe you can you ease Rob last time Steve Moore, today's program is prerecorded, so don't call then. But we do have some calls lined up this 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 live.org you have money in a retirement account for just a general investing. You know, the stock market sometimes be possible to enjoy both profit and peace of mind and investing no matter what's happening and you can see a short video webinar on sound mind investing.org since 1990 sound mind investing is on offer financial wisdom for living well sound mind investing.RG you feel stuck. I get tired of going to the motions of faith you want to make real progress in your life and not know where to start, how to grow as a book to help you grow spiritually and help others grow as well.

The gospel is a starting point of the Christian life rather than the main point of all how to grow book by Darrell – available@moodypublishers.org that Moody publishers.O RG 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. Do you know if you have enough enough money and of house. Do you know how much is enough if not Ron blue can help his book, master your money a step-by-step plan for experiencing financial contentment. Learn how to save and invest and give wisely create a long-term financial plan and how to get out of debt. Find it all in master your money by Ron blue available when you click the start button moneywise live.org back with you on moneywise. Live your host is Rob last names more and we do our very best year ever day to remember that we are not owners were managers were stewards and that God really owns it all and help you with that.

Well that's why were here today, so let's help Kathleen calling from Des Plaines, Illinois, and thanks for holding What's on your mind work like any kind to get into that, but I'm 60 and my husband is 67. Here, he started to collect security light employed and working full time collecting about but I know that I can't take full sense that II do qualify for it. Like if I started taking it 62, and I think I can. I'm entitled to like Or whatever he might mount right spousal benefits. That's true. You don't have your own Social Security benefits that I thought I waited able to take either the amount you are and so you would want to compare your reduced benefit amount to 50% of his did he wait till full retirement age. Kathleen my did he wait until full retirement age to begin collecting okay percent of his benefits would be higher than yours is what you thinking on a reduced basis by taking it you yeah so if you take it 62 you're going to take depending on what your full retirement age is somewhere between 25 and 30% less than if you wait until full retirement age to begin collecting your own now if you take your spousal benefit you're not going to get a reduced portion, you'll be entitled to the full 50% of whatever his higher amount was that he has is now collecting based on his full retirement age benefits. All okay. I that's correct yes to me that did.

There are some factors that go into evidence. I would probably call as the Social Security ministration or go to SSA.gov, but the maximum amount you can claim is 50% of your spouse's full benefit which is both full benefit is what he's receiving right now and see you would just have to see whether that is in fact the case for you, it probably is.

And so then you would compare that to your own benefits on a reduced basis at age 62 and determine which is the higher amount which would be what you're entitled to collect like right if you based on your benefits if you delay. Yes, you would be entitled to the higher amount based on you. Waiting until reaching full retirement age is for your own benefits you can move over to collecting your own benefits at that point and click on it like it all just stated you do get the the full amount. I think the key is when you start collecting so let me just be clear here. If were talking about you waiting until you reach full retirement age, that's where you get the full 50% benefit if you're going to start claiming your spousal benefits at 62. Then you would take a reduction based on collecting early, so it could end up being 32 1/2% or 33% or something like that. That's where you need to look at what is his benefit. What age are you going to begin collecting and then based on that age. What is the amount you're entitled to as a spouse.

What is the amount you're entitled to. As someone who has their own benefits that you are entitled to and which is the higher amount and then you can proceed from there. At that point where you perhaps wait until collecting your own benefits you may be able to switch to a higher benefit when you reach full retirement age. It would just be up to you as to the time to begin collecting.

So I think based on all these moving pieces. That's where it's really helpful for you actually sit down with somebody and Social Security look at the all of the factors look at what you're entitled to look at his benefit. Talk about waiting versus getting in early and see where the map is going to come out better in your favor. Kathleen, I've never found a more helpful government office to spend some time in than the local Social Security office. They were really helpful. They took it to the extra mile for my wife and myself. And again I came away really understanding. Lots of things I didn't know going in so that would be our best recommendation for you. We wish you the best. Thank you very much Fort Smith, Arkansas hello Judy what your question in your on Holly tree yeah there is actually a couple of great resources.

One is from our friend Dave Ramsey actually Dave wrote a great actually article that you will find on his website call held called how to pay for college without student loans and I found that to be a great resource.

You can also look at you on the web at any number of options saving for college.com is another one of my favorites, they have some great resources there.

Of course you could go to Amazon if you'd rather buy a book in and do I just a regular search there, but I would probably start with a number of these free resources, including the one that I mentioned from Dave Ramsey and you find that a Dave Ramsey.com and I think that would be really a great place to begin.

As you start to think about getting through college and if he can do it without taking on student loans that's going to be key I think.

Also, Judy really explored this the.

The scholarship option. The other some wonderful resources out there now, we actually did a program on this recently, and you could revisit that on our website@moneywiselive.org on college scholarship opportunities that we give a lot of links to a lot of the repositories of various scholarships that you'd want to understand and then let me throw out one last one.

It's called launch. This is actually a book you'll find it on Amazon and its subtitle is how to get your kids through college debt-free and into jobs they love afterward and it's by an author with the last name Borowsky Jeannie so I would check those out and if you need anything else give us a call back. That's right, of course, we always want to encourage the community college option.

These going to community college for the first couple of years and then transferring to the college of your choice. Also, like, just consider it done, that the student will work part-time job, particularly after the first year scholarships and grants start early, saving in high school work that you called Judy this is moneywise live, your host is Rob last time Steve Moore and will be back with more right after this 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 at moneywise live out of work.

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 that info to learn how Christian credit counselors can help you visit Christian credit counselors.org Christian credit counselors.or call 800-557-1985 team Yahweh's people died in the Old Testament, the Hebrew people was right there God who is the Lord of hosts were looking at that word on the very front of the people were tedious and not for more sleep for the people.

I think Army troops have been rightly called definitions if I could and we fell apart.

At least we can get it down today. Powers thing controlling was preparing controlling and listening to this reminder, today's program is ported calls coming up sister around. We all might learn. Let's go up to Ottawa Tennessee and Trevor. We appreciate your patience, my friend, what your question Marco private fitting and her cash where one how to do that will be where my income. Maybe $1200 for the year that only if you attend on what should we yeah it's good question.

If you get over $600 in income you would want to treat that as taxable income in your are required to report that on your tax return.

Now if you don't receive a 1099. This happens periodically could be because it was lost.

It was never issued. It was issued late. Whatever the reason, it's really not a problem unless you don't have your own records and you don't know how much income to report. It's not like a W-2 where you need to include it with your tax return you would you would not to include the 1099 form itself. So I think the key is just keep track of that yourself on your end and when you do go to file just mention that to your tax preparer or to prepare your tax return yourself you just include that income so you your covering your part. Even though perhaps it isn't being reported because a 1099, perhaps wasn't issued by the person who's providing the payment, but at least you've done your part to make sure your rendering unto Caesar what is Caesar's and following the IRS rules and regulations. Does that make sense of Trevor. Yes sir, we appreciate you, but you thanks Trevor know we haven't done in a while. I've got a stack of emails here. It's like like a stack a lot of rules blueberry everything here. It's a mess, actually, but I have some emails or what he said we do a couple of I think I'd rather have the waffles but that's okay. This is from Lucy. She says dear Robin, Steve, is it okay for Christians to give to non-Christian charities. That's a great question. You know we want to be givers. We look to the Council of Scripture, the old and the New Testament we see clearly giving is on the heart of God.

Here's the thing we were created in God's image and he's the ultimate giver right he gave us his son to pay the penalty for our sins that we might be reconciled to the father and so when we give.

I like to say where most like him now.

Where should we get well we should give first and foremost to the local church. The storehouse I like applying the principle of the tide at the very least, systematic, proportionate giving to the local church where you are planted, then beyond that, I like giving to ministries that are on the heart of God. And when I look at the Scriptures. I see the ministry of God's word, evangelism, preaching, teaching and discipleship. I see the ministry of God's mercy is a place we should give to the poor and needy, food, clothing and shelter, healing and recovery, even prisoners and in the ministry of God's justice widows and orphans, the oppressed, helpless victims. So how do we allocate God's resources among those things and then is there something else that you're passionate about. Would you like to give to a local charity that said you're doing something, perhaps, not necessarily in the name of Jesus, but meeting a real need or is it an alma mater, a school that you like to help out. There's nothing wrong with that. I would just say lease for me. I like to prioritize those places for my giving that I know are going to be reaching out to people in the name of Jesus.

Does that mean we have to exclude anything else.

No, not by any means, but I think we should make that our priority okay like that.

Think around see our next one is from Arnie he says dear Rob is it okay for my wife to keep all of our financial records. She's better at it that I by all means.

Here's the thing. God puts the two become one right, but invariably one of us is a spender ones a saver and we have different backgrounds with money that we bring to the table, most notably how her parents handled money that informs how we then make financial decisions and different temperaments and skill sets, one is generally more detail oriented, which lends itself to being the bookkeeper bookkeeper. The other is perhaps a little more free-spirited and maybe not as good as organist at organization.

Bottom line is you both need to be setting the course for how you handle God's money where we going what are we doing with God's money where our values and how to those values then drive our financial decisions. Meaning what kind of lifestyle. Do we want to live in what financial goals do we have our savings goals. What are we saving for how much is enough. All of those things really need to be discussed prayerfully as husband and wife together. Now when it comes to bookkeeping, though that needs to be done by one person and I would say absolutely, it should be the person that has a greater proficiency skill set temperament for the details.

Somebody who can stay on top of things. Make sure the bills are paid on time. Make sure proper records are kept. So women tax time comes, you're not left with big pile waffles like Steve was talking about a moment ago and you're ready to pull all that together and give it, perhaps to your tax preparer and if that's the wife great. If that's the husband great. One is not better than the other. I just need think you need to find the person to take that responsibility where it's the best fit for them. But that doesn't mean Steve Moore by any means that we don't operate as one unit. Husband and wife in making decisions very well said Rob. We had a caller who couldn't hang on, but he left us with. This is name is Chad. He was calling from Ohio. He is essentially saying should I ask my children to tie on their Christmas gifts. My parents often give them very sizable gifts of cash, they are 13 and 16 typing on their Christmas gifts. Another not kids anymore that are 13 and 16. They thought that regard.

Well, here's what I would say is that your increase and I would say it is your increase and I like the idea of teaching our kids early that we are to give systematically. That means on a percentage basis, starting with the local church and then beyond that, sacrificially, to whatever other ministries causes passions are on our heart and so is a gift of Christmas gift or a birthday money that a kid would receive as a part of your increase absolutely and that's a great opportunity to teach the principal of the time I've and I would use a simple 10% as a great starting point.

Certainly not in any point, it's really just the beginning.

But let's start early and let's build in that discipline now so that Lord willing they'll continue with them throughout the rest of it. One of the interesting thing I can say this because my children are grown now. But the interesting thing about the whole giving concept within the family is that of letting them take some responsibility as opposed to you. Just forcing that gives you an opportunity to look into their spiritual hearts. You may choose to say something and not say something, but just you observing them tells you something about where they are in their walk with Christ. I think that's a great idea Stephen. We will be looking at every opportunity to shepherd our kids looking into their hearts. Certainly praying for them and seeing how we can mentor them along the way you listening to moneywise live with Rob Weston's more we have to pause that music scene will be right back. Please Christian healthcare ministries enables believers to meet their healthcare costs affordably, biblically and compassionately. It's not insurance but a voluntary cost-sharing ministry based on the biblical example of Christians sharing each other's needs and members are defined under the law for not having health Christian healthcare ministries might be your health cost solution call 800-791-6225 or visit CH ministries.org 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 at eventide.

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We got many people adopt an attitude toward marriage and finances that it'll 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 counseling by Howard Dayton will help you discover God's approach to growing your finances strengthening your relationship with your mate and cultivating godly joy, money, and marriage God's way is available and moneywise live.org Congress as liberty president from his first veto override in the final days of his administration. The GOP controls that it met during a rare New Year's Day session and more than two thirds of voted to override the president's veto of a defense bill president Rob also extending pandemic related bands on green cards and work visas to large groups of applicants through March 31 also federal appeals court has sided with him on a rule that requires new immigrants to have their own health insurance California suppressing 25,000 rotavirus deaths since the start of the pandemic and officials there to closing that three more cases involving that mutant variant of the virus have been confirmed in San Diego County health officials say they found evidence of a Florida man with the coronavirus variant. This is SRN use.

Happy new year to you, listening to moneywise live find us on the web and moneywise live.org but today we're not lives so if you hear that phone number. Please don't call to stick around. Lots of good information real pleasure to have you with us today. We do our very best to remember that God owns it all. Not just the 10%, but he really owns it all and wants to work with us to manage it well for kingdom purposes that we can help you today with your personal finances in any print any specific area. Just give us a call 800-525-7000.

That's travel north just a bit up to Minneapolis and Carol what's on your mind today. I'm sick and I have some money set aside and hurt, and I'd like to be able to when I have to take the required minimum distributions I'd like to be able to use that my time and tended to organization and you document months ago about some umbrella organization.

We could send it and then they would distribute it according to your instructions on can you give me the name of those organizations that do that. Yes, I'm so glad you're asking Carol about this because I think many people are in your situation and that is that they have money that they've saved throughout their working life. It's in perhaps a retirement account but it could it will eventually end up in an IRA and then as they approach 70 1/2. They realize they need to take required minimum distributions because the penalties for not doing so our staff but they don't need the money.

By God's grace. They've their expenses are covered that The lifestyle, well that's under control, but they want to do God's work and fund ministry and there's a great opportunity to do just that. Some I mention two things you need to know about what is the National Christian foundation and that's probably what you heard me mention you can find them it in CF giving.com in CF giving.com and they have what's called a donor advised fund there in CF they call it giving fund and you can actually put your charitable contributions into a donor advised fund and then use it almost like an online bank account were you then distribute the money at your discretion to Christian ministries and it's very simple to do. You can do it anonymously and you can do it very easily and it consolidates your giving statements.

Your contribution statements of the end of the year just to the one contribution to the donor advised fund not to each individual ministry. Now when you're talking about giving right out of the IRA. You're not looking for giving fund there because that really has to do with you personally what you're going to want to do. There is what's called a qualified charitable distribution or a cue CD and this is an opportunity for you Carol to actually make a gift directly from your IRA straight over to the eligible nonprofit or charity by bypassing yourself you're not going to be taxed on it and you're going to allow to get it's going to lie to give the full amount to the charity and that's going to count toward your required minimum distribution so I would actually check with your custodian. Wherever that IRA is being held about the cue CD. They can probably help you do the paperwork to make that qualified distribution directly to the ministry.

Again, it'll count toward your required minimum annual give the ministry the blessing of the full amount and it will be subject to tax. Is that helpful is that what you're looking for yeah and I know that when money is now they can't do that and 50 7C but so I'm planning. When I reached that age of transferring into an IRA where I can do the qualified terrible distribution. How does it matter that I contribute to about 15 different things.

No, not at all. I think you you would have to set up qualified distributions to each one. That's where if were not coming out of an IRA. It can be really helpful to use a giving fund because when you put the money in the giving fund then you can distributed to each of the ministries just like an online checking account would, but in this case where you need to do the qualified charitable distribution it be best to go right through your custodian to make those gifts right now.

I'm sure I am sick and recently got a small inheritance and I am wondering if I should start a Roth IRA working up last year that can fully fund it this year. Probably in future years. I I've been making about $2500 so that would be by beacon city in future years. Yes, I like the Ross for this purpose. As you probably know, based on what you're describing your situation. You have to have earned income and you can't contribute more than the earned income you had in any given year, up to the maximum contribution for that year.

But as long as you have that earned income.

You don't need the money. You can go ahead and make the contribution it's going to then grow tax-free. Based on how you invested and you don't have the required minimum distribution with the Roth. You can also pull out your contributions at any time without any penalty. So I think that could work out very effectively in this situation, and I like it a lot. Thanks Carol. We appreciate your phone call today right rather than take another phone call. Now, with a break coming up. I think I have an email of this one is from Rachel. She says dear Rob and Steve. I'm interested to learn more about faith-based investing.

I didn't know this was a thing until I heard a recent moneywise episode where this was referenced. Is this something I can do is an everyday investor can I access access faith-based investment options inside my 401(k). Yes I love these questions have faith-based investing is something that has really taken off and I'm excited that this whole segment of the investing universe is really growing.

Here's the thing you know as you think about being an investor you're an owner write you own companies, whether that's directly by buying shares of the stock or whether that's through mutual funds, and as you become an owner. The question is what companies do you own do they align with your values. I would quickly describe three buckets to put your faith-based investments and okay the first one is what I like to call avoid these are companies you're avoiding because they don't align with your biblical values and so you would screen them out.

The next would be embrace.

These are companies that have a kingdom impact or a social impact. Some people call this a triple bottom line where there's a financial return to spiritual return and social return and so your screening in companies that are making a difference in the world and in the third category is what we call engage.

We talked about this quite a bit with our friend Jerry Boyer where were engaging as a shareholder in expressing our values to the company management and in doing so we can have an impact on the company and how they use their corporate dollars what they support. Now, within that you have to decide which one do you want to pursue and I would really develop your own convictions around that. So where you go from here. Well, there are a growing number of mutual funds and ETF's and investment advisors that will help you implement a faith-based investing strategy. If you'd like to use an advisor. I'd recommend use of certified kingdom advisor.

Just go to our website moneywise live.org click find a CK put in your ZIP Code and ask the folks that you interview about faith-based investing. Beyond that, you can go directly to these fund companies. Great website to find them would be faith driven investor.org faith driven investor.org and when you get there you should be able to find a list of all of the mutual funds and other investment options that are offering faith-based investing. This is an exciting development in the investing covers. It sure is great question Rachel. We appreciate you sending that in.

If you have a question for Rob.

Keep it brief. It's questions@moneywise.org you're listening to moneywise live he's Rob last time Steve Moore and will be back with a bit more. You probably have a strategy for your fine your career even your retirement strategy for your getting to know Christian foundation and your family maximize your resources to learn how to moneywise.org. Would you like your life to be infused with joy.

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I get tired of going to the motions of faith you want to make real progress in your life and not know where to start is a book to help you grow spiritually grows well to the gospel as a starting point of the Christian life rather than the main point of all how to grow book by Darrell – available@moodypublishers.org that Moody publishers.O RG thanks so much for being with us today and we hope will stick out and enjoy the rest of the program. It's moneywise live he's Rob last time Steve Moore and you are at.

Well, we don't know exactly where your rat could be Spokane could be up in Maine could be Fort Lauderdale or it could be Valdosta, Georgia hi Lisa, you're on the year lease. Are you with us. We great great mom. I'm in my early eat at my own my own home. I owe around 90 now it works. I think around here 55.

Michael is my 4400, where all clear run anywhere between nine to $1100 a month benefit in any amount of $50,000 in repair and got about $3000 credit card yet. I have my monthly income is anywhere between four accountant T $800, struggle, and I think I'm struggling because of my I have a real home.

I'm sorry that I have finance owner financed the lady he dealt with bangles you pay sometimes.

Sometimes he doesn't pay $400 and that her month.

Most of the time it comes out of my income. I'll try anything. Now purchase another home or not. It ran or any other other than my home and get out small amount of credit card yet. Well, first of I'm delighted to hear about you adopting these four precious children you got a lot on your plate. Dear trying to manage it all. I suspect you're doing a great job at that.

You also got this rental property which adds to the complexity. Do you have good equity in the rental property or the rental property owner financing. Oh, thank around the mall and write $500 and keep me around when he paid I'll have a little money coming back in May. I'm going to try to pay them off like it hadn't made up my next year up a 400 a month to pay me 400 a month okay but that's you not able to count on that. Every month, and you're just being gracious never win when the funds the men well you know I think again you got a lot of moving parts here.

How imminent are these repairs is that something you can put off for a while. Nine years the finger paint some of the winded they've already started like falling apart on the bottom like that have to be done. My AC unit not working you know a lot when you barely 5 year why can't ran out. That's your shirts liner gets hot there and Valdosta as well.

That's probably challenging in the in the summer. Well I think right now, given that the situation you been in kudos to you that you don't have more in the way of debt we need to get that savings upward, right there teetering on the edge. I think part of the reason your utilities are so high and work to throw so much of that on a monthly basis is because the insulation in the window challenges that you've got. So I would probably start by looking at what you could sell this were given the condition of the home. Maybe find a realtor who specializes in your area professional could come over take a look at it in its current condition and give you an honest your understanding of what you could get for it so that you could cash out walk away from having to invest in these repairs build up your savings and do just what you said and that is focused on renting until this other property is paid in full at that point by a place that perhaps is a little bit smaller that you could buy ideally for cash so that you no longer have you know any payments or at least a small mortgage but where you you have everything a good working order.

Your knots you will send an $1100 a month for utilities you don't have all these repairs hanging over your head. Perhaps you reduce your overall debt load and I think you'll feel much better.

At that point, and certainly you'd want to do that in such a way that you have at least 3 to 6 months expenses left in your emergency fund. When you're all said and done, so I think that's the way I would go at this point, Lee. You could certainly given the fact that you got all these things going on in these wonderful children at home. You could use probably a little less stress in your life and I think by going this route emails going to cost you a bit to get out of it and sell it. I think in the end you'll end up in a much position.

So again for Lisa.

You your first step for her would be to do what round contactor realtor just understand what impact these repairs are going to have on the sale of the home. What is she actually going to walk away with realistically then run the numbers and make sure that she can get enough in the way of proceeds and then check into what the prices are to rent something that's good you meet your needs and then I would everything lines up the sale price and the cost of renting that I go in that direction until she gets this rental property paid in full. The owner financing and then perhaps look at buying something a little less expensive. At that point Lisa sound like an awfully generous person.

Were going to ask all of our listeners to remember you in their prayers that you get so some of these pieces worked out and sorted out, and in the future get back this up is anything else we can help you with. We wish you the very best. Thanks so much. Oklahoma City, Oklahoma hey Daniel what your question for Rob West. I am currently enrolled in a program and have a good feeling about it now on land that I own outright so you got a pullout program is going to like Dave Ramsey snowball payoff mode. That way, or they involved that management is a big fan of debt management. What is the what's causing you the concern about the program.

Management by paying an amount to go through each and every count and get them to agree to a lower interest rate. In order to pay off right so but I guess I don't know I'm not. Never got it so nervous. Shirts know I'm familiar with it as long as you're going through one of the reputable ones we have course here at moneywise live I recommend Christian credit counselors, a Christian credit counselors.org they do wonderful work. These are all godly people this program. Debt management is where you're getting into approved programs with each of the lenders you bring the interest rates down you pay through the debt management company and you know the statistics aren't 300,000 folks have done this through Christian credit counselors you'll pay off this debt on average 80% faster and it doesn't factor into your FICA score. Now, a lender could pull your credit report and they will. And they'll see it on there and they could choose to factor that into the decision, but it doesn't factor into the FICA score.

Fair Isaac tells us so. I'm a big fan of you getting out of debt quicker by paying through debt management and paying less in the way of interest. I would just want to make sure you're with one of the companies that we we like and and is a a reputable organization but other than that I'd stick with it. Especially if you're already enrolled Daniel would let you call today.

Thanks very much. Maria is in Fort Lauderdale. Maria, we have like 90 seconds, so give it to us real quick before now I don't want any. I got also affects the rate yeah Maria, what is the value of your home 388 sure what you owe on the first mortgage one 8001 okay very good you been paying on that quite a while and was perfect and how you know okay cannot throw all of the bill for the house to share more than how yeah and let me ask you this Maria after you pay the mortgage and all your expenses and you pay the payment to the home equity line of credit. Do you have a little bit left over. Are you struggling to make ends meet. I think it might yeah yeah okay well I don't want you to touch that first mortgage because you been paying on that a while.

I certainly wouldn't want you to extend the term on that but I don't like the line of credit for you just because you know that interest rate is likely going to continue to rise, and you know you're putting yourself at risk there with a variable rate on that home equity line of credit and so I would look at a new home equity loan that is has a fixed rate, I would do my homework. You'd want to go to bank rate.com to find a number of options there and find the one with the best rate the lowest expense but it's gonna lock you in.

Make sure that the payment fits well within the budget and if you're unsure visit with one of our moneywise live coaches@moneywiselive.org just click on connect with the coach still help you work through your budget. But I think that will give you more peace of mind, because that payments not going to change anymore.

As long as it fits into the budget. At least you'll know that you don't have to worry about that and then let's focus on trying to put as much beyond your emergency fund of 3 to 6 months was put as much on that second mortgage. As you can, Maria. We hope that helps you and we certainly appreciate your call today.

Thanks very much. Will Rob that it doesn't for this year, sort of, I mean I guess it's the end of this year the beginning of another year 2021.

What do you think Rob I mean what do you think well I think it's gonna be a great year absolutely and so we should go into it, believing that recognizing that the Lord is on the throne and can be trusted and that we are managers. Caretakers were God's resources. So here's what we want to do on this program we want to come alongside you this year.

We want to encourage you. We want to laugh with you and cry with you, but above all else you want to share God's principles of managing money is way and will do it together and amen we certainly will. Rob, thanks very much. I thanks to our production crew behind the scenes and thank you for tuning in moneywise. Live is a partnership between radio and moneywise media