Managing Loved One’s Finances After Death

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Equal housing lender not licensed in Alaska, Hawaii, Georgia, Massachusetts, North Dakota, South Dakota and Utah. People often ask if they're responsible for loved ones that's after death. In most cases the answer is no, but not always, Rob Westwood, you know how to manage a family member's accounts after death is actually quite a bit to talk about that first today that it's all your calls 800-525-7000: 24 seven. 800-525-7000. This is moneywise live biblical wisdom for your financial one of the first is to learn is that when someone passes away their credit reports aren't frozen or closed automatically. The estate's executor or personal representative will have to do that and it's very important to close credit report because the deceased could still be the victim of identity theft. It may even be more likely after death. So you need to have a death notice placed on the deceased credit reports. Often, the surviving spouse will be the executor or personal representative.

But even when that's not the case. The surviving spouse needs to work with the executor to make sure the right steps are taken to manage the deceased's accounts. First, you should know that if your loved one died with debt. The estate is responsible for it.

If the estate lacks the funds to repay it, but no one else is obligated to pay it. Usually there are a few exceptions.

For example, if you cosign a credit card or other type of credit account with the deceased.

That account is also in your name and your legally obligated to repay the debt. Also, if you had a joint credit account with the deceased, meaning it's in both your names that you are obligated to repay, but you're not obligated if you're only listed as an authorized user.

Now all of that goes out the window if you live in a community property state where you will generally be required to repay some or all of your deceased loved ones.

That's those states include Arizona, Louisiana, California, Idaho, New Mexico, Nevada, Texas, Wisconsin in Washington and one more instance where the surviving spouse might be responsible for the deceased spouse's debt where state laws require you to repay certain types of debt such as medical expenses or debts related to a jointly owned home.

Of course, if the deceased's estate has the funds to repay his or her debts. You shouldn't stand in the way of that but rather facilitated.

However you can. Proverbs 327 comes to mind do not withhold good from those to whom it is due when it is in your power to do it.

But even in cases where you're not obligated to repay a loved one's debts, you may feel responsible for it. If you feel God leading you in that direction and you have the funds to repay the debt by all means do so. After careful consideration and prayer. Also, you may be contacted by debt collectors concerning your loved ones outstanding accounts. If that happens, first confirm that the debt is actually owed and if the estate has the funds you can repay the debt. Make sure you get a receipt or you can refer to the collector to the probate court overseeing execution of the will. Either way, the estate will be responsible for the debt. If you continue to be harassed by debt collectors. You can block debt collectors from contacting you by sending a letter demanding they stop contacting you if collectors continue there in violation of federal law, you can report them to the federaltradecommission@ftc.gov. However, keep in mind that won't eliminate debt that's legitimately owed. Earlier I mentioned that credit reports are automatically closed when a person dies, the executor or personal representative.

Often, the surviving spouse has to make that happen by notifying the credit bureaus, aqua facts Trans Union and Experian. They will then seal those reports in place, a death notice on them. There are three steps to notifying a credit bureau about a loved one's death first contact the Bureau to find out what documentation you will need to submit. Generally this is the deceased's legal name, Social Security number, date of birth and death. A copy of the death certificate and perhaps other legal documents. Once you've gathered those papers submit them to the credit bureau.

Make sure to keep copies for yourself.

The Bureau will then freeze the deceased's credit and prevent anyone from opening new accounts. Also, the bureau you contact will automatically notify the other two so you only have to do this process once. Finally, you'll want to review the deceased's credit report so you're sure about all open accounts with creditors and lenders you want to do that with all three credit bureaus because they might not list every account. So now you know what's needed to manage a loved one's credit accounts after death. Your goals are next on our 24 seven line it's 800-525-7000. That's 800-525-7000. This is moneywise live biblical wisdom for your financial journey were delighted to join us today for moneywise live on Rob West taking your calls and questions on anything financial apply biblical wisdom to today's decisions and choices financially. Here's the number 800-525-7000. We have just a couple of lines remaining 800-525-7000. By the way, we just encourage you if you consider yourself a part of the moneywise live community, and you've not yet contributed to the program. We'd like to invite you to become a financial partner. We can only do what we do through your generous support. If you'd like to give beyond. Of course the giving to your local church. We encourage you to do that online simply and easily@moneywiselive.org just click the donate button and everything you give goes toward keeping this program on the air plus all of the other ministry offerings we haven't moneywise media we would certainly be grateful again moneywise live.org, click the donate button all right were to begin with our phone calls today were going to start in my hometown, Fort Lauderdale, Florida, WK ES Winston, thank you for your call today sir, how can I help you to know what you on the reverse mortgage. I think I am the son reverse mortgage but I like to hear your opinion on it. Yes, I appreciate you asking obviously can provide some extra income in the retirement season of life. If you're 62 years of age or older and have enough equity in the home. It's not my favorite tool just because generally speaking I don't like using debt to fund your lifestyle. I'd rather you stay unencumbered. Perhaps downsizing or using other means to lessen the expenses that you have on a monthly basis and get yourself in a situation where you can fund lifestyle out of other income opportunities, be it Social Security or taking an income from investments, retirement accounts, things like that. The primary downsides. Winston, in my view, other than just the notion of funding lifestyle with that is the first of all the fees are typically very high. The embedded interest rate even though you're not making a payment they're actually paying you systematically every month out of your equity. There is obviously an interest rate involved. Not to mention a good many fees that are embedded in these programs and they are higher than the prevailing rates and the fees are considerable, and so there is quite a bit of expense there. Obviously, if you want to leave home to the home to errors they have to pay off the reverse mortgage balance. So when they inherited the home and then of course you've got to stay in the home or satisfy the note and of course you got it maintain the home as well as the taxes and insurance so you know it is certainly an option.

If you find yourself in a situation where your short every month and you want to tap into that home equity to cover that it is a way to convert an asset which is what your home equity is to an income stream. I just prefer that not to be the first choice for the reasons that I mentioned is that make sense that makes a lot of sense. You know that's on the line that think it also in all that I disliked guiding 79. Right now my life is 80 we have 100% equity.

We do have some some savings, but I'm just looking down the road and making sure that knowledge about and know what my options are very good. Winston well, you sound like a somebody who is very thoughtful and clearly the Lord will honor your diligence is your careful steward of his resources. We appreciate you thinking of us and calling today.

May the Lord bless you serve on to Shorewood, Illinois Nancy, thank you for your call today.

How can I help you, I thank you for helping a better word I got money which is very my mother was on Medicaid. She passed away about a year and 1/2 and now my question is whether I should look at those credit bureau for one thing that I have not done I have not gotten any credit in her name or any year, something that I should get you the executor of the estate. Okay, yeah. Doesn't hurt.

I think being able to pull those credit reports just to see if there was anything outstanding that went unpaid is a normal part of probate process. If that was not done. I think I just giving you the added peace of mind to know that everything has been settled appropriately and taking care of would be something that would be a good idea you would want to contact the bureaus provide the necessary information and let them know that she has passed away so that the credit reports can be updated appropriately. At the same time, you'd be able to get a final report just to see if there is anything you are missing. So I think that's a great plan. Nancy and if you have any questions once you do that.

Be sure to touch base with this would be happy to weigh in. Appreciate your call. Thanks for listening to the program at the Spokane Washington candor next on the program. How can I help you sir. All will and carrying out life insurance. You know, the Allman, my wife and go. The term insurance premium unit had been growing healthy although it should I continue to carry that insurance or not worry about what is your age 69 okay and you said level term premiums have already started rising pretty dramatically while they were a lot a lot like her okay yes I what is the death benefit right at hundred okay yeah II guess the question I would have is is that life insurance necessary. You know the reason we carry insurance, life insurance is to offset a significant need or hardship that would arise as a result of your death or your spouse's death. In the event either one of you were depending upon the other for income or there would be added expense.

So typically we get a multiple of the income that's being provided 10 to 12 times the income, then we might add insignificant debts like a home mortgage college education. Things like that to come up with a death benefit the most cost-effective way to pay for it is through term insurance, but the idea is that we enter retirement, Lord willing, debt free or close to it, but also where we've accumulated enough in the way retirement assets such that if the Lord calls one of you home. The other has sufficient assets through Social Security and retirement accounts and equity built up in the home to be able to sustain their lifestyle and if the answer to that is yes, that wouldn't create an unnecessary hardship she'd be able to just continue on with the income sources she has now which means continuing to pay the mortgage and cover her bills then that life insurance is no longer needed, and could be dropped.

To alleviate that significant expense from the budget. So I guess I would ask that question. Do you see a real need for it. At this point I don't know medical emergent and cumulative. No balance at a you know that's the only reason I'm fine yeah well I would see that as an opportunity, perhaps, did not really reduce your expenses and then just start saving you one option, also would be look into a long-term care insurance policy that you could redirect that $5000 a year toward a substantial policy that would probably be the real need that you have in the season of life. So I think about it carefully.

That's a lot of money, you can reclaim the budget, especially if you have other assets to cover your needs throughout the rest of this morning, thank you for taking the time to join us for moneywise live today biblical wisdom for your financial journey unravel as taking your calls and questions today.

Perhaps you had an issue or question.

Perhaps a conundrum been rolling around in your mind for some time. You want God's wisdom as you make today's financial decisions.

In the area of saving or investing, perhaps its debt repayment or giving whatever it might be communicating with a spouse or teaching your kids biblical financial principles.

We'd love to hear from you.

We got several lines open today and we've got plenty of program remaining here is the number 800-525-7000.

That's 800-525-7000 going to go to Chicago, Illinois. Leah thank you for your call today. How can I help you. Thank you, Mike. Throughout the whole process for the certified financial planners, and I am getting ready to embark on that. Now I know you recommend going to the CTA and you mentioned going to three different one.

So my questions are are a doctor tell you what they'll all my questions are. Are they typically willing to do this kind of a premeeting right up front and should I or strike the charge for that and the other part of the question is, given that the an exploratory meeting which I bring to that meeting so they can be familiar with my situation. Bateman insert my account and, what should I expect that that preliminary meeting.

Very good, Lelia. First of all you done your homework. I can tell your regular listener to the program and it sounds like you have all of your ducks in a row.

I'm also delighted to hear you're seeking some wise counsel and you're exactly right. I like the idea that you would be looking toward interviewing several certified kingdom advisors because in addition to having perhaps a CFP as evidenced by their significant experience in the industry. They would have met further requirements set to earn the CK a regulatory review pastor reference client references a statement of faith is significant to university-based course and proctored exam around biblical financial advice, and a whole host of other issues.

So this is going to be somebody that really has the biblical worldview as their ultimate authority and that's I think really essential alongside of course competent financial advice as to your questions Leah. First of all, yes I would expect any of these advisors that you contact would absolutely be wanting to meet with you at no cost for the initial meeting to do some discovery where there in addition to telling you about themselves. Also spending a considerable amount of their time learning about you. Where is God taking you and what has he entrusted to you. And yes, there will be a list of documents that they would likely want you to either to bring order furnished in advance if you are comfortable doing that both existing investment accounts. Perhaps the tax return and in some cases and other financial information including perhaps some insurance policies. Although much of that will generally come after the first meeting, but they will just do some initial discovery and what you decide to move forward. They'll be an entire list of documents that need to be furnished based on whether they're providing you a comprehensive financial plan or asset management or both.

So I think you would just want to check with each advisor to find out which information they'd like for you to provide, either in advance or at that initial meeting in terms of what you might expect for that meeting. Again, that's a time for them to basically just interview you, there's gonna be a list of questions that have to do with a whole host of issues in terms of how you handled money and whether you have ever worked with an advisor before and what that experience was like and what you see your greatest needs are and where God is taking you. Are there any particular issues that you're concerned about and that you know through that conversation. I think you'll get a good feel for whether you have a good rapport with the advisor and they'll learn a whole lot about you that will then be the basis for whether or not it's a good working relationship for the two of you moving forward. But the thing I would be prepared to do is to really describe in detail what it is you're looking for. Why do you feel like you need an advisor at this point, have you had any experience is positive or negative in the past with investment or financial professionals and what were those I would also want you to be ready to talk about how you expect to be communicated with electronically or in person, how frequently, and I want to make sure you ask whether or not you are a good fit for this particular advisor in terms of the complexity of your situation. The assets that you have and who would be servicing your account, the person you're meeting with or somebody else in the organization that clearly are also going to want to know how they get paid and that should be something that they would readily volunteer with great transparency.

I think it'll be a great experience Leah, but tell me, do you have any other questions just based on what I've shared think you really covered it 100, think, and I cannot.

I'm thinking I should ask the same or similar questions. Love them all so I can compare but also should bear payment structures being pretty much the same or not, necessarily, not necessarily keep in mind moneywise doesn't get any part of that.

And so each of these advisors set their own fee schedules know what would be most common in the industry today is either for financial planning a flat fee that could range from one to $3000 depending upon the complexity of your situation where they'd look at all of the financial planning areas and give you a pretty detailed analysis and then for ongoing asset management, a fee based on the assets under management, a percentage that you might expect to be somewhere between three quarters of 1% and maybe 1 1/2% a year depending upon the amount of the assets that you have the more you have, actually, the lower the percentage so I would expect that for most of them, although in some cases there may be a commission generated by the sale of the product.

It really just depends on what your needs are and how the advisor's business is set up, but in all cases, they should be very transparent with you about how they get paid. Thank you. Been very helpful.

I have come back well thank you Leah that check back with as much you make a decision. Let us know how it goes.

We appreciate your call today very much to Brandon, Florida Mary, thank you for your call. How can I help you want my money. I admire and… Pardon me if I don't have anything money and I hightailed the name had no something about different account before I go meet with a financial planner sure. Very good.

Well, obviously the Lord is entrusting you with much and I love the idea that you want to be prepared. So let's do this work in a take a quick break and get ask if you would mind to beats just a bit more patient when we come back will pick up right where we left off and talking about.

Perhaps some things to think about where we go from here as you think about being a good steward of God is just.

This will be right back with us today. I moneywise live on Rob. Let's take your calls and questions. Here's the number 800-525-7000. Have you downloaded the moneywise app. It's a great way to take this program with you on the go manager spending plan. You could post questions and get answers from moneywise coaches in our moneywise community and read all of our great content of our Discover tablets on the moneywise after search for moneywise biblical finance in your app store or head over to the moneywise app on the web app.moneywise.org back to the phones Mary just before the break you were sharing that you've been listening for a while and we talked to folks who have the surplus and talk about investing you both and said well that's not my situation, and then you inherited some money. And now you want to be a good steward of that how much of you don't mind me asking, is coming your way okay that's obviously a significant sum of money. There's no question about that. Have you thought through what your priority use of these funds are for instance you want to pay off the home mortgage. Do you have any other debt are you looking to do any giving or are you thinking about investing the whole thing. Give me a sense of just where you're at financially and how you plan to proceed. Right now I only know I got 11,000 online how my parents out and out and around my how I haven't gotten all the money yet.

So I have felt trickling for now that I hide. I know a little back but I don't know.

I just felt like I should not know more basics before I go talk to somebody. I don't think that's a bad idea at all what I want to do to start with is I want to send you a book will get it out right away. A great resource called the sound mind investing handbook, and I think this will absolutely begin to help you understand some of the terminology and just a basic understanding of managing money.

God's way.

It's a step-by-step guide to managing money from a biblical perspective but focus specifically on investing and that when we're done here today Mary if you just hold on the wind by producer Amy will get your information and will get that book out to you and I think as you begin to read through that not only will it give you an understanding of investing, but you will begin to learn some of these terms. And then I wouldn't hesitate even considering yourself in this go sooner rather than later. Once you've had a chance to read through the book to go start visiting with some advisors I would absolutely sit with at least two or three if you have somebody a family member or friend that you like to be there just to ask additional questions. That's never a bad idea either.

And I think as you begin to familiar set eyes yourself with the of the various approaches to managing money. You'll be able to develop some peace of mind and some confidence well before you have to make any decisions. The good news is you've managed your finances well vis-à-vis that your virtually debt free. You will be. It sounds like soon enough and you're going to be simplifying your lifestyle as you move into your parents home. Obviously, you're gonna want to.

If you've never been a landlord before.

Do your homework on that. Make sure you have somebody that can help you with any kind of upkeep. If you plan to rent out the home that you be vacating.

Just so you can stay on top of that, keep it rented and maintained properly. But then with the investments you know it doesn't have to be something that scary. There will be plenty of folks any number of certified kingdom advisors there and Brandon that could walk alongside you and these should be folks that have a heart of the teacher where they really want to educate first and hold your hand to make sure that you have absolute peace of mind recognizing you are the steward of these funds even though they have significantly more expertise and I'm confident that as you begin to learn and read and then begin to sit with a number of advisors you will develop that piece of mind and confidence in what you need to do moving forward but you stay on the line will get that book right out to you, unless you had any other questions I okay very good. Mary will don't hesitate to check back in with us along the way. May the Lord bless you to Chicago Illinois Marriott at your next of the program. How can I help you rent.

Thank you for taking my call.

Want to know are we too high on our Social Security checks. I'm thinking of retiring in the very near future and I just wasn't sure about that slow clearly what you would be receiving from Social Security would be apportioned essentially a repayment of what you've already paid into the system and then there would be another portion that's the growth of what you paid in over time. That's ultimately going to be what is returned to you.

And there really is no way to determine which is a return of what you paid into the system versus what's actually the growth component to it. Clearly, there is an element of this that if you've been tithing your entire life and you been giving on the gross amount you would be tithing again on at least a portion of that if you tithe on your Social Security check. And yet, you know, my perspective has just been to see everything that comes through your hand as God's provision is increase in blessing in your life and because we can't out give God know. I think ultimately it's between you and the Lord we don't want to make it something that's legalistic where your tribe necessarily check a box at the same time I think you know as you demonstrate your trust and dependence on him in every season of life, including this new season that you're entering into. I believe that the Lord will honor you. Tithing even on Social Security funds and I would see it as part of God's provision, but I think at the end of the day you need to pray through that come to your own conviction and make a decision between you and the Lord again. It's not about the money, it's ultimately about our hearts and our ability to participate in the Lord's activity through our giving by returning a portion of what is entrusted to us back to him so short answer is I would say you can't out give God and therefore let's see it as his provision and tithe on it but at the end of the day. I would say it's between you and the Lord and I would want you to be comfortable with whatever decision you make and do it with a cheerful heart set make sense okay God bless America.

Tell me what you most excited about in this next season where you think God's taking. I know that I will retire from 40 or 60 hour week. However, I do want to work in some kind of part-time position may be a couple couple to three times a week and then I mostly am looking forward to volunteering time with maybe like a nursing home. Yeses that are elderly that don't get visits or not as many visits.

I just want to do that yes that's fabulous well I'm confident that whatever the Lord has for you will be able to leverage the experience, wisdom in time that you have for his glory. Keep in mind our calling doesn't have an expiration date. So you go find what God has for you in this next season of life as perhaps you have a little bit more time and I suspect you'll find your busier than ever, but we appreciate you checking in with us Marriott.

I appreciate your generous heart the desire to be found faithful was the steward of God's resources. May the Lord bless you folks a lot more to come on moneywise were to be in Coral Springs in just a moment, talking about what to do with some savings gems in Ohio wants to know what he should do about a new car should buy used or new, and then leans in Pompano Beach wanted to know about it. Testing that in your questions coming up. Here's the number that's minds open 800-525-7000.

This is moneywise live wisdom for your financial journey together, finding God's heart. His resources are managing is his stay with us joining us for moneywise live wisdom for your financial journey West. Thank you to my amazing team today answering their phones today Amy Rios producing Dan Anderson is engineering and of course Jim Henry providing research today.

I couldn't do it without them, grateful for these folks back to the phones were headed to Coral Springs, Florida, just down the road where from where I was born and Karen, thank you for your call. How can I help you opportunity. I hear a young widow but my question today is I have approximately $320,000 in my savings account and I have an income of 2400 a month but money that 328 just sitting there in my mind is retirement okay so I was calling today for guidance or how to manage this way and manage these monies in God's way.

Yes yes so this is not in a retirement account.

Karen it's and what I would call a taxable account. Is that right yeah okay I need this money is not taxable that money right not it's not growing, tax deferred inside a retirement account now okay and do you have any other retirement assets specifically or this is the extent of your retirement savings. Well I have in fact hundred and 50,000 in properties which I gained 2400 a month of income. Okay, these are rental properties trail along to an attorney is restraint, where I I received the income from the interest from the loan got it so long. Yes, okay, very good, and then are you working now okay and do you plan to work or is this really how you plan to fund your lifestyle. Moving forward I most likely to be a grandmother in Montag like to go back to work and practically threaded volunteer. I have not been in the workforce at the stay-at-home moms firstborn right and what is your age 55 okay so you're still a bit a ways from getting any kind of survivor's benefits from Social Security. Yeah, I believe they went 60 yes but you anticipate that this 2400 a month that is being paid to you because of the note you're holding that will continue for some time. Yes. Okay. And that's enough to cover your expenses yes very good. Okay, so you've got.

Obviously a lot of flexibility Karen and that's a good thing because you got your expenses covered your grandmother, you can enjoy doing that you have the ability to go back to work at some point down the road and once you start collecting Social Security that'll be just some additional funds so I think it's a great opportunity for you right now with the 320,000 or whatever portion you decide to invest for you to output a strategy in place to see this money grow so that over the next 10 years.

Maybe this 300 becomes 400 or 450,000 so that when you need to convert it to an income stream where you need it for some medical expenses that will be there and provide a significant cushion for you. So the way I would be thinking about this is I would say okay I want to carve out my emergency fund and I would set aside six months worth of expenses. So if your expenses essentially are, let's call them 30,000 a year.

I'd said take at least 15,000 somewhere between 15 and and 30,000, and I'd put it into an online savings account that you're not going to invest since liquid and available if you need it for the unexpected. And then, with the balance. Let's say somewhere between 305 and maybe 280,000 I would be looking to invest that and I would do that with an investment adviser and investment professional who you could meet with develop a rapport with talk extensively about your next season of life. Your goals and objectives your risk tolerance and then an investment strategy could be deployed there some wonderful certified kingdom advisors there in South Florida. I'd interviewed two or three and find the one that's the best fit for you and then you would have some peace of mind to know that someone with expertise and experience is managing this for you according to your objectives, but where it's not just sitting it's actually has the ability to grow and it could be done on as conservative a basis as you're comfortable with.

This is not about you taking more risk than you're comfortable with. It's just about this money being deployed in a way that allows it to seek a return even though there will be some risk involved is that'll make sense.

I understand. Yes indeed good hell where current arrow pointing where when I ran like yes I yes I would get to go to our website moneywise live.org click find a CK that stands for certified kingdom advisor. These are men and women who have significant experience as investment professionals, but they also have the added requirements of CK, which means they gone through extensive training on the biblical worldview of managing money. Pastor references client references regulatory reviews experience in the business. Statement of faith. Code of ethics.

All of those things. To give you added peace of mind to that you're with somebody who shares your worldview can give you biblically aligned professional financial advice and somebody who has significant experience in competency so just add to our website again moneywise live.org click find a CK if you have any other questions along the way let us know. To Parkman, Ohio Jim, thank you for your patience. Sure, how can I help you.

Good afternoon getting the right thing. I'm Grant 512). Part of and I lose, I was the victim of a senior scam about 10 years ago my own not thinking it through. Yes or in the interim, I have succeeded in getting my credit score to the maximum well.

Having been destroyed due to the scam and I'm now in a position where I need to get another vehicle has 200,000 miles on it because I got it when my credit was capable. I still $10,000 on it but the snow belt of Ohio so I little concerned about coming winter.

Right now I'm rambling. I should stop and say that I'm debating whether or not there to go look for a used car or a new car or leasing yes or because all the news is saying it's a terrible time to be thinking about getting a vehicle but I'm not is all talk about that Jim did tell me how much are you looking to spend regardless whether you buy new or used of you identify the target amount will I'm going about that the wrong way.

From what I understand, I was thinking more along the lines of thought what they can afford on the monthly payment.

How many times. Particularly, how much he had to put down probably around 5000.

okay, very good.

well, you're right. unfortunately, it's not a great time to buy a car, many new cars are selling above the sticker price, but the price of used vehicles has skyrocketed it all. a lot of it has to do. i guess i should say, with a constricted pipeline for news. click new cars due to the pandemic, but oddly enough that's caused used car prices to grow up dramatically use vehicles went for about 40% more in june than they did before the pandemic in february 2020 average nine-year-old car sold for $13,200 in june. according to edmonds.

that's a 30% hike over the same month in 2025-year-old vehicle run. you, on average, a staggering $24,000 so yet it's not a great time to buy a car and where i would typically be saying i'd start used for most folks because you're going to take care of some of that appreciation. it's a good time actually to look for a new car just because of what were experiencing in the used car market, so i'd be looking at both you know ii don't like to focus on the monthly payment at the same time.

i think the key is what fits in your budget. how much can you put down without getting cash-strapped and what with that resulting payment be.

that gives you a good reliable vehicle that doesn't put you in a situation where it's going to impact you great hardship financially so unfortunately i would feel it's not a great opportunity right now but you need reliable transportation and i totally get that. so i think i would be looking at both opportunities. both the used car market and the new car market.

do your homework, decide on an amount to spend understand what it would do for your budget. make sure you count the cost and then let the internet be your friend as you start shopping is all that make sense jim laid out okay listen all the best to you, hey, check back with in with us along the way and tell us what you find it. don't forget to pray about this, as the lord to just make away and make it really clear where you should head by the way, if you decide to buy used, which i'm generally a fan of apart from some of the anomalies were facing right now. make sure you get a good third-party reliable mechanic to check it out before you make a final decision that we appreciate your call today. very much, sally is holding patiently in chicago. sally, you stay on the line out of the off the air. unfortunately were at a time. today folks.

thanks return again moneywise live.

i'm so grateful for the chance to just be invited in stories to hear your questions and concerns to celebrate with you and define god's heart as you manage his money.

it's a privilege. each day is: folks, thanks for coming by. hope you'll be back with his next week, but in the meantime have a wonderful weekend moneywise live is a partnership between radio and moneywise may the lord bless you