The Boy Who Cried Wolf

We've all heard the story of the boy who cried Wolf after the second or third time with no wolf to be seen. Believing him. Rob West boy has nothing on some of the financial alarmists crying wolf today about the economy is our banking system on the brink of collapse. Are we headed for hyperinflation. Talk about that today with economist Jerry Boyer is on your calls and it is hundred 525-7000 800-525-7000. This is moneywise live wisdom for your financial decisions moneywise contributor Jerry Boyer financial editor@townhall.com and author of the maker versus the takers what Jesus really said about social justice and economics Jerry great to have you with us again Rob it's always a pleasure to be with you. I really look forward to these conversations. I do as well in Jerry as you know, last time we talked about the national debt crisis. And while that's certainly something to be concerned about.

You helped us put things in perspective as you always do and certainly with the biblical underpinning today were going to take a look at the state of the US banking system, among other things, there some fear mongering going on out there.

If you watch the financial shows and certainly among the Christian community as well. Related to this topic so Jerry is the boy who cried Wolf a good analogy for some of the economic forecasts were seen today.

Yeah, I think it really is. I mean, I like this table of the boy who cried Wolf.

It's from Aesop about the way Mike, my friend Rabbi Daniel Lapin makes a pretty good argument that Aesop was a Jewish slave, John, Joseph, Aesop, Joseph, who had been captured and so yet reflecting kind of a biblical wisdom like the book of Proverbs which has stories about animals as well. And Jesus actually quotes Aesop later when he talks about wolf in sheep's clothing. So I think I think it's a great analogy, but I think one of the things you have to realize about it is it's kind of about two things like the way Christ Wolf. There's no wolf but he gets attention, so he likes that happens again he gets attention and he likes that come in Aesop's version, the wolf comes but he's not believed and the wolf eats the flock in the later versions that we learned as children it's changed so that the wolf eats the boy and I think there's an important point here, which is we think of this as a warning story to the boy but it's mainly originally a warning story to the village is how it is not just saying to the boy. Hey don't live which is certainly true. It's also saying to the village. If you have a liar he might lie a will lie and he'll be wrong, but sometimes he'll be right and you need the discernment to know when he's right, and when he hasn't wow I love that distinction because I think that really puts it into perspective as to how we should approach this as we apply this fable to what were describing today and as you point out, Jerry.

The other side is true as well.

There are folks who can ignore real warning signs and I take it that you're somewhere in the middle on this particular topic is a right yeah I am so there are a lot of false warnings about banking collapses.

There been a lot of false warnings about hyperinflation, especially in our community. The evangelical Christian community. They been wafting the gun back used to talk about things that happen next week. There videos that went around from Porter Stansberry and I are normal people you know her advisor has and what we save all the stuff there was a blood moon scare this stuff just keeps going on and on. And so what that means is, there have been people crying wolf and it didn't happen. And then what happens is the village gets hardened so that it's like all that again. Yet you told me to be hyperinflation before me there. So what I found as last year I started talking to you about inflation is arising restless. A lot of people just didn't want to hear that because there had been so many false predictions that they just kinda got used to saying what the boy is a liar, we can trust him when the point isn't the boy.

The point is, the wolf, yes it is busy there. What is the something on the horizon. What is it is. Maybe it's a puppy.

So how can we develop the discernment to see that there really are terrible things that happen there collapses you much in my book earlier. I'm very convinced that Jesus was arguing about the destruction of Jerusalem, which came about partly because of the debt crisis but there have been a lot of other people who said the worlds about the end of the world about the end of Jerusalem's about to be destroyed and it wasn't so. I think we have to kinda be in the middle to recognize genuine risks, but not be running around like chickens with her head cut off all the time. Always in a constant state of fear and all and making false predictions that people believe and then get jaded about. That's very helpful and I think the key word you said is discernment. Wealth will continue to unpack this the banking system, inflation, and much more. Would Jerry Boyer stay with us the were delighted to have you with us in moneywise live joining us today are contributor resident economist Jerry Boyer, Jerry's financial editor, Townhall.com and were talking about. Perhaps some financial alarmists that are paying the US banking system is on the brink of collapse.

What about the banking system and inflation obviously is creeped up on us.

What is that mean moving forward in his hyperinflation in our future.

Jerry you set the stage really well before the break. Let's dive a bit deeper into this beginning with the US banking system. How should we view it and those who are saying, perhaps we should exit the banking system altogether because it's a house of cards. What would you say to those folks exit to where right.

I mean you have an exodus from Egypt is the promised land to go to. What's the promised land. I think that when people are driven by a fear response. They're not always thinking rationally about how to deal with that fear. So let's say that were going to have a bank collapse and hyperinflation. For some reason I'm hearing people say what I really need to do that is take all my money out of the bank and then just hold it is cash well wait I mean if you're worried about hyperinflation holding cash is a guaranteed way to lose purchasing power so you coming. Maybe your scenarios right. Maybe this is the big one is Fred Sanford would say, you know, maybe it's coming in the hyperinflation area earthquake, but then you hoarding cash would not be the rational response to that.

So I think people have to kinda think maybe a little bit more strategically about this. So what about banking collapses. We do periodically have banking collapses in US history. And that's because we have a system called fractional reserve banking. I want to get too technical, but what that means is when you put money in the bank.

They don't keep most of it most of it. They turn around and lend out so there's more lending out.

Then there are reserves. You know in their vault to cover it. So when everybody comes and says I want to take my money out.

That's called a bank run and then they can't cover all that member in the wonderful life you know that there wasn't enough money because it's over and martinis house right so banks can be subject to bank run so there's always that vulnerability in our system.

But when we've had bank runs in the past we've had very little reserves.

Banks haven't had much in the vault. I just look at the data before coming on the show today and we actually have pretty high reserves. The banks are very well reserved after 2008, the government said we don't be stuck this way again. We want you to over over over reserve so it doesn't seem to me unless we get some kind of weird new regulation or the globe's treasuries and the banks have treasuries in their vault and so you know they would go down in value. It doesn't seem like a banking collapse is most likely are a highly likely scenario in the short run. Given that I'm denying they happen, but I don't see the preconditions that caused them to happen in the past yes and Jerry to your earlier point where do you turn because as we talked about before. In 2008 2009 when there were real systemic problems in the financial markets. As a result of the housing collapse. We actually saw the dollar rally because the question is where do you turn what other economy.

What other reserve currency.

Would you look to the US. That's a real question to ask is, yes it is. So you have to if you're selling something, then you're buying something right.

I'm in a transaction has two sides to it.

So if you don't want the dollar than what do you want do you want while China is under enormous pressure because the going kinda crazy with nationalizing businesses and cracking down on markets is a real fascist kind of you side coming out with China, Japan sells more adult diapers and baby diapers. It's really hard to imagine the end is a good long-term bet. So where do people go one thing but gold prices are high, but that's your traditional hedge against the dollar collapse. You can go to TIPS which is a kind of treasury that protects against inflation.

But the prices of those have gone up a lot because we've had inflation so you know that you might be your kind of richly valued know what's happening with a lot of people is there going to crypto currencies like bitcoin and you know I think what that reflects this kind of imagine that you're in a big room is a dance going on this, an auditorium, and there is someone says fire but there's no fire and then someone else's fire, but there's no fire. Then later in the evening, you smell a little smoke and then you go to an exit door and you don't know what that exit door goes to, but your spirit.

You're scared enough that you're going to go through that exit door even though you not quite sure what's on the other side and that's what I see with what's going on on crypto currencies.

I'm not making a recommendation to buy them, nor recommendation not to separate topic. All I'm saying is the run-up in bitcoin and other crypto currencies reflects people's desire to take an exit door to something they don't fully understand because of the fear about the dollar so that's another. So how do you hedge against dollar you buy foreign like emerging markets tend to do well and when the dollars inflationary commodities tend to do well when the dollars inflationary particular goal, but really all the commodity complex inflation protected bonds like TIPS tend to do well and it looks like crypto currencies also are hedge but be careful you really are highly volatile and middle people might put up 1% or something like that in don't think of crypto's is like a real investment strategy.

Well, perhaps part of the attraction to crypto's is the lack of those central bank oversight. Jerry, let's talk about the Fed do they have their thumb on the scales and they run out of tools says they've open the spigots on monetary policy. I don't think they ever run out of tools in the sense that they have an infinitely expandable balance sheet. There is no mathematical or logical limit on how much money they can create so what disciplines the central bank well supposed to be politically disciplined. The supposed to follow rules. It's perfectly clear that they're not following rules there just following the rule of don't make anyone mad. By taking away the punch bowl when the parties going so then what tends to happen then is the rule is imposed by outside so eventually people say I don't trust the dollar anymore central bank. You know, we just want your dollars. We don't trust you and that's the scenario, the people are running that is a reasonable scenario of us having a currency crisis and that crisis, but from my lights yelled you, Lord, give me wisdom to discern.

I don't see that kind of collapse or hyperinflation in the near term. I do see it as an actual risk to be managed for the first time in my life I'm saying now this is real and we ought to be thinking about how to managing it be managing up but that's entirely different than the whole dollars to collapse the banking systems in the collapse you put it all in the freeze-dried food you know food and shotguns are buried in the yard is a kind of panicking. This about hyperinflation right now that I think is maybe out ahead of the actual risk level. Jerry just about a minute left, we could talk all day about this.

Let's end today by allowing you to re-center us on where our trust ultimately should be placed well II learn something interesting about Aramaic grammar recently was Aramaic was the language that Jesus spoke and here's what I learned there's a word called Mammon and we tend to think that Mammon means money, but Mammon it's very close to another Aramaic word amen.

It's a amen plus and M in front of it. The word Mammon is based on the word amen. So what is that mean Mammon isn't money. Mammon is money we say amen to when we say and be a man, we say only amen to God. Only he is to be trusted. That's what amen means this can be trusted. So when we turn when we put when you say amen to money, we turn it into an idol called Mammon. We need to place her trust in the Lord. Jerry, thank you for giving us a biblical perspective.

Today all of this, God bless you my friend.

God bless you stay with us moneywise live will be right back to hear from others 800-525-7000 800-525-7000 just a moment will begin to take your calls and questions on anything financial you want to follow up on something Jerry said perhaps it's how you should approach and concerns you have about the financial system. Maybe it's investing or saving for the future.

Maybe it's paying down debt or credit scores. Whatever it might be. We love to hear from you today again. Lines are open 800-525-7000 give us a call right now know I was appreciate our time with Jerry Bowyer good friend because he re-centers this year. He's an economist but is also a student of the Scriptures and really understands and takes to blend his history. His understanding of God's word with really the data from today as an economist. What we see on the horizon he provides is often the data means gift and data is a gift. It can tell us things about what might be coming. Ultimately, our trust is in the Lord.

We only have to know that he's in control, but we also will be wise stewards of God's money, and I appreciate him recalibrating us around biblical truth and up-to-date information about what we're facing here in our economy and the stock markets could be a challenging year. Well certainly could put our trust is in the Lord at the end of the day what I believe we need to recognize is there's God's part in our part, we need to leave to the Lord what he is ultimately responsible for but for us what passes through our hands as stewards of God's money. Well, that's our part. What are we doing to make sure were living within our means were avoiding the use of debt unless it's necessary that where you have some margin in our financial life. There's some surplus there that we can use to fund our goals that we have set long-term goals and that ultimately were giving generously.

If we do those five things we put ourselves in a position to experience God's best, doesn't mean there won't be challenging times, but it means we've done our part we trust the Lord for the rest pilot said to the folks today 800-525-7000 were to begin all the way out in Washington. Serena, thank you for your call today. How can I help you. I'm wondering if it's a good idea to invest in gold right now like at the dollar value day by day and I had cash and I could not get handiwork anything you know I would not be investing in gold per se.

If you thinking about overweighting. I think the sound approach of really focusing on 5% allocation at the most, 10%, but I would say for most works 5% is really the right approach. You know, gold is a hedge against a falling stock market falling economy.

It's a store of value. It is uncorrelated, meaning it should move in the opposite direction. Most in most cases of the stock market of the challenge is that your Serena just historically speaking. It has been more volatile and there has been less return that you would achieve from the precious metals and that's just if you're buying like a tracking exchange traded fund the tracking the price of the metal itself you know if you're to buy physical gold or take physical possession.

Then there's other challenges which is how we store and safely secure the precious metal when we buy and sell. Oh what about the markups for the dealer that we might be buying or selling through and then how do we use it if there really if it's there because were concerned about what Jerry was talking about a moment ago and that is a banking collapse will how do you convert that into a means of exchange in a way that's practical, so I think for those reasons I would avoid really moving into gold is a long term plan overweighting there just because I don't think it will perform as well.

Over the long haul as a properly diversified stock and bond portfolio that's appropriate for your age and risk tolerance. There obviously would be many folks that we disagree with that.

That's just my approach would tell me your thoughts. I understand and agree on how would you go about using now the gold and the situation of our whole economy in the bank collapsing. Now I understand what you're saying I I'm gonna look and in the Navy now doing some other thing that I don't like. I'm not a risk taker. I don't want the money that God give to that you not have called himself.

I appreciate your time and thank you very much well and happy. Serena, thank you for listening: today we appreciated the Linda's in Chicago. Linda how can I help you today. Good afternoon. I am so glad and thank you for taking my call. I have a question about my long-term health insurance on my rate was increased in November and it will be doing it for at least the next three years and it just really taken a toll on me and I'm wondering if it's worth it for me to continue with it. I don't have any great savings. I am retired and would like to buy.

Yes, well, you know the challenge with long-term care insurance is that yes, it's a great product in the sense that that's likely your biggest risk this season of life. Given the rising cost of healthcare and how expensive it is for the various types of care be at nursing home care or assisted living or even in-home care and so it can erode assets and hurry the challenges the insurance is only as good as your ability to continue to fund it as a part of your spending plan long-term and what you're experiencing has been what others have experienced as well in that is that because of the rising cost of healthcare, even though they have to do it across the board.

They can't do it based on an individual policy across the board folks have been experiencing these increases in the cost of the premium related to these policies and that is, in some cases pushed it out of their reach. So I think the key is I would talk to an insurance agent just to say is there anything that can be done but long-term. You need to make sure that you can continue to afford it otherwise. If you have to drop it at some point it's of no value to you and your boss that premium so I would look into that. To see whether it is sustainable hopefully experience the bulk of the increases that it will level off and you can carry that in your budget. I think it's a good thing, though, if you can afford it, to make sure that you got something to protect against that significant potential costs that 70% of Americans over the age of 65 will have to pay for between two and three years. Linda, thank you for your call moneywise. I'll be right back moneywise thanks for joining us today. This is biblical wisdom for your financial decisions taking your calls and questions on anything financially. Here's the number 800-525-7000 800-525-7000 got slides open. We'd love to hear from you. Have you downloaded the moneywise app. Well it's available.

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My family and I use it I think you should check it out.

You can do so were you download your apps to search for moneywise biblical finance and you can download it today for you back to the phone's mistaken email question. This one comes to us from Shirley and she says I got a call from someone who said they were from Social Security. Yet my correct name and ZIP Code. He told me that there issuing new cards needed to verify my number over the phone. I did not give it to him. Did I do the right thing, and surely you absolutely did the right thing. Here's what you can be sure of the Social Security Administration will never ever call you and ask for your Social Security number. They won't ask you to pay anything they won't threaten your benefits either. If any of those happen, you will know that it's a fake call. You should hang up right away. Could they call you sure if you opted into that but they would typically contact you through the mail first, but they will not ask you to pay for anything and certainly it won't be with a gift card you can know for sure that they will never threaten you and they will not ask for your Social Security number so Shirley, good job on spotting that there are so many scams out there these days that we need to be on our guard.

If you're suspicious, hang up and call whoever it is directly and make sure you get the number directly from them and you can do that on their website don't Google and click the link to get to the site of the vendor company are trying to reach go directly to their site you put in the address go to their site and then find the customer service number and call them directly if you're suspicious don't respond to somebody who's contacting you, especially over the phone or by text if you're asking for your sensitive information. We appreciate your email, Shirley.

If you have a question you can send it to his questions@moneywise.org we try to answer a few each week on the air by let's go back to the falls. We got slides open today are moneywise live 800-525-7000. We'd love to hear from you. Lynn is in Illinois, Lynn, how can I help you taking my final question out then left on my 30 year mortgage. But I'm down to 15 year and the current. The current interest rate is 6.25% and I was wondering the credit score is going to like them 880 call just to check and I could get 3.25% interest rate.

At this time, with $5100 clothing, however, there should I did send me five or should I get you nothing at this time and just continue with the 6.25% and just pay off the remaining 15 years since. Are you planning just to send the scheduled monthly payment Lynn are you accelerating the payoff of this I want to follow right okay very good. I like the idea of refinancing assume interest rates were higher when you got this 15 years ago, or you had a lower credit score, or both. Nevertheless, here's the key zones you plan to stay in this home and you get a new mortgage and I would encourage you to get a new mortgage at no more than 15 years so I be looking at a new 15 year mortgage than what you've done is you've matched the remaining term you're not extending it and you lower the interest rate but given how significantly the interest rate is going to come down three percentage points over the next 15 years will absolutely pay off the money that you will save in interest will more than make up the cost of the refi that you would be experiencing now the only thing that gives me pause is what you said about the closing costs. I believe you said somewhere between five and $6000. That's high for $65,000 mortgage. I would love for you to try to target paying no more than 3% of the mortgage value for the total closing costs and expenses.

That's around $2000, not five or six, so I would get at least a couple of other offers. I would check with your local bank but I get at least two from online lenders. I would look@bankrate.com. We want at least three offers and I would be looking for a rate at or below 3% with a 15 year mortgage with a credit score of 800.

I do looking for closing costs of no more than 3% of the mortgage value and I would absolutely make sure you don't go with a term longer than 15 years is all make sense.

What I am part of a conventional or sure yet what I wanted the benefits you have with converting to a conventional is you won't have to have the private mortgage insurance because you have far more equity then the value of the mortgage and conventional mortgages only require the PMI. If you have less than 80% of the equity whereas the FHA will require it with more than that. So you'll save on that and converting to a conventional I think will do just fine. So that essentially this new conventional mortgage, the proceeds will go to pay off the existing FHA mortgage and replace it with the new mortgage banking how much okay Lynn, thank you for calling.

God bless you.

We appreciated 800-525-7000 is an article whatever's on your mind today, financially speaking, is it savings or giving. Perhaps its lifestyle putting a spending plan in place are paying down debt. Whatever it is will apply God's principles to which you're dealing with in your financial life today.

We'd love to hear from you again.

Lines are open 800-525-7000. Joanne is in Aurora, Illinois, Joanne, how can I help you wow world ruler based on your earning what makes you feel comfortable and is there certain 2800.

Yes. Well, I think the idea is a couple of things number one for your emergency fund. Most folks would recommend as a rule of thumb, and I would certainly agree that you should have 3 to 6 months expenses. No, that's not cash on hand at home that's I would have that in an FDIC insured savings account. I would recommend using an online savings accounts he can get 1/2 a percentage point worth of interest each year with no fees for that savings account and then I would link it electronically to your checking account so that it's only an ACH transfer away 2 to 3 days at the most. If you need it for an unexpected expense in terms of cash around the house.

You know most folks recommend you set aside about $1000 unit would be the conventional wisdom that you will see is a common rule of the idea is that you would want that in a safe place. But if there was a disruption of some kind, whether it's in natural disaster or something that caused you to not be able to access some cash that you be able to go cover your expenses for your 3 to 5 days and that's where that $500 $2000 in a safe would be a really good thing that could include a glitch in the banking system so that would be my best advice is that make sense all right thank you very much for your call. We appreciated much more on moneywise live after this short break, don't go anywhere we do get some lines open 800-525-7000. If you're looking for an advisor that shares your values.

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Let's take as many calls as we can between now and the end of the program. Leona's in Fort Lauderdale, Leona, how can I help you prioritize right now here who are under the age of Pontiac by their college, our parents are not capturing something I wanted. Yes, guilty of the leave my favorite tool Leone for saving for college is the 529 savings plan that out there in the state of Florida. You have two options you have the prepaid plan, or you have the 529 college savings.

I prefer the college savings. I think I even though college tuition inflation has been significant think the ability to save through the tax free growth of the investments inside the 529 even though you don't get a deduction you get the tax-free growth so long as you use it for qualified educational expenses is a real effective tool. So essentially what you would do is you open up a 529 account and then you could decide how much you want to put in whether that's a lump sum that you been saving for a specific amount you want automatically deposited every month and you can change that. Anytime once the money goes into the 529 then you would select among the investments inside the plan and then you would just continue to dollar cost average into the market as it grows again. That money would be available for qualified educational expenses, and if they get scholarship or grant you be able to take the money out on a pro rata basis so you don't have to worry about that and if it's not all used you could transfer it to another child for their use. The best website to determine which states 529 is best for you is called saving for college.com saving for college.com when you go through the questions and answers they will recommend based on very recent ratings of all the 529's across the country. Which one is the very best plan for you. You can open one for each child and you can start funding it with as little as you want to get going and then add to it over time specific sense. Okay Leone thank you for thinking about those sweet nephews of yours I'm sure they'll be incredibly grateful down the road when you're there to help them provide some funding for college. We appreciate your call to swear to stay in Florida where Eileen is and how can I help you open solo 401(k) okay when you say the most economical way to me what you're thinking about their company and so far it looks like the company charging gallery shall dollars a year after that. Think a lot of pant paperwork regarding tax okay yes well so a soul okay were solo 401(k) is a great opportunity for somebody who wants to put away more than they can put away in an IRA and they don't have a 401(k) available at work because they're self-employed.

They also are less onerous in terms of the administration and the ongoing cost of it. Most of the online brokers do offer solo case so I think you're going to have a number of options to consider.

And so I would just look around. There's not one in particular that I would recommend but you know a lot of the big names come to mind in terms of who is focused on low-cost offerings. Charles Schwab would be one of fidelity would be another.

You could also go to investor Pedia.com I know they rank the solo 401(k) companies. For instance, their most recent ranking of 2022 and investor Pedia.com has fidelity as the best overall in Schwab for the lowest fees Charles Schwab so those would be two names that I think you couldn't go wrong with, but to read up more on that I would do some research and again investor Pedia has a brand-new ranking of the six best solo 401(k) companies all right, all right. Eileen, thanks for your call today.

God bless you.

Let's stay in Florida, North Miami Beach can. Thank you for your patience today. How can I help you. I was wondering if you would be able to mortgage lender or people with good credit. Yet mortgage lenders you know many lenders who will give a mortgage to someone with low or poor credit bill issue government-backed FHA loans and VA loans if you qualify to borrowers with this credit scores as low as 580 that's where often the FHA loans are used. Some even started 504 FHA loans.

Although these lenders are harder to find what is your credit score both my husband and I are hundred hundred and 620 okay so the credit score above 600 your options open up even more conventional mortgages generally require a 620. To qualify, so it would just depend on whether they're requiring your income as well. If so, your 600 you know may create a bit of a challenge. What you get up to 680 or higher, you can apply for just about any home loan, but I would check bank rate.com K and that's my favorite website for finding who has the best loan programs and you'll be able to put your credit score in. So the results they give you on recommended lenders will factor in the credit score that you're providing. So you may have to go with an FHA, you're right on the border for qualifying for a conventional so I do your homework, especially given your low credit score. The other thing you may want to consider is delaying this because if you can focus on keeping your payments on time getting your debt to income ratios down getting your credit utilization down, which is the amount you owe versus what's available to you, but soon credit cards and if your credit score is rising and you can both get above that 620 mark your which is not far away, then you may be happier with a conventional mortgage which if you got 20% equity in the home will ensure that you don't have private mortgage insurance is all that makes sense. Thank you so much I appreciate it okay God bless you. Can we appreciate your call today to finish in the Florida lots of calls from Florida to Gary thank you for your patience. I can help you in selling covered calls a good strategy for retired hilly can be if you know what you're doing and it's a popular option strategy and it's about generating income.

You might think of it is renting out your stocks.

So if you only expect a minor increase or decrease in the underlying stock for the life of the option when you execute covered call. That's generally were folks use it you would hold a long position in the asset and then you sell or write the call options on that same asset to generate additional income. Now it may be called away from you and so you could lose it, which would create a taxable event. So you have to understand that, of the risks are know the real risk of losing money is if the stock price declines below the breakeven point or the opportunity risk of not participating in a large stock price rise because you lose it, but if your focus is income and you understand what you're doing.

I'm certainly not opposed to it and have your back when we used to manage money for lots of folks we used a covered call strategies all the time but do you have to understand the implications of it, and what you're doing, but it can be a way to generate some additional income. So I'm certainly not opposed to a Gary thank you okay God bless you, sir. We appreciate your call.

Folks that's good about to adversely see if I can sneak in one quick email here just so we can get one more in today before we finish this comes from Roxanne and I just glancing at her message and I promise I didn't set her up for this rocks camera. It's I want to go on a budget think they need a push and some encouragement. I have a smart phone and listen for a long time. Where do I start and that's a perfect set up because the money was, that would be a great tool but let me start with the encouragement you know Roxanne, it is critical as a steward of God's money that you have a plan for your money that you have guardrails that say of what God has entrusted to us the income that we have here so were going to live. Here's the plants we can give first and we can cover our fixed and discretionary expenses and we can live below our means. We have margin to save and to add to our giving as the Lord leads, and to pursue whatever goals he's given to us. You can't do that without a spending plan and it really requires the Java system to control the flow of money in and out, and that's why I like using your smart phone to manage that are money that is resistive and the money was that was flexible. It will give you everything you need, you can download it when you download your apps just download the app called moneywise biblical finance Roxanne. We appreciate your email access you to do it for us today. Moneywise I was a partnership between Moody radio and moneywise media want to say thank you to Deb Solomon, Amy Rios and Jim Henry thank you for being here as well join us tomorrow look for you –