Coronavirus and Economic Realities

Analysts used three letters to describe bear market. Looks like lying. You don't have to be a Wall Street Rd. to understand them. There is the V and then the dreaded L so which letter describes the current market downturn.

The coronavirus outbreak plays itself out as well from West economist Jerry Bowyer to find that out much more than we think.

Because later on in 805 five 7800 5574 economic reality today right here on my rug. Jerry Bowyer is economist advised financial and today he shares his perspective on the market and economic trends that were seeing right now and likely to see in the next week or so. That's exactly right Stephen.

He does that, from a viewpoint he calls principled reasoning, which is always rooted in biblical wisdom.

Jerry, my friend. Great to have you back with us. Rob always great to be with you you to Steve.

Thanks Jerry want to get your analysis of the current economic realities. If that's possible, and those realities are as a result of the covert, 19 crisis. But let's start with an explanation of those three letters. Steve mentioned at the top of the program and how they describe bear markets what RV you and the one no one wants to see the well. Just picture the letters in your mind and think of the you know if he goes down sharply and then it comes up sharply and the V-shaped cycle would be we go down quickly and we got that part right.

We definitely got that's we got the left we we have mastered the left part of the V in recent weeks of the week goes down sharply and then hits a sharp bottom and then comes up and you neck and neck refer to markets a decorative for the economy you're asking about that as the economy so the you goes down very sharply hangs around the bottom a little bit and then comes back up very sharply and then the Alec goes down sharply and then it stays down, and so that the people usually describe those as those are the kind of the options with economies and I you know sometimes there's checkmarks you can just see what that means or get all of the square root symbol which I think is maybe a little closer to what were to savor the countertop out a little bit and then maybe another outbreak. I don't know about that. This the epidemiology of listening outbreak of fear or concern with W yell goes down comes up goes down comes up which no one sees the lambda when she knows her talking about that except for those people who went to seminary and had to take Greek so you can Google that one down, then flat, then down again really badly, so I'm just kind of a way of picturing what different economic cycles might look like nephew asking what I'm thinking I'm thinking something more like a you or like the square root symbol so you feel like you in essence what we're dealing with now is going to be here for a bit, but we will ultimately recover. It just may not be as quickly as we got into the situation.

Yet that's right so you can see a you know a two all say one or two quarter really bad GDP print it over just we see some of the worst numbers we ever seen and and I know that really terrifies people and I think that's why on the media use you like. They like to say worst or best. You know they like that they like superlative words worst day in the history of Wall Street or best day in the history of Wall Street because they're playing to a motion at but you know a sharp fall and a sharp recovery is in some ways a lot better than a long stagnation because you get back to normal. You're not out of work for two years, you're out of work for three months, which is a lot less debilitating and a lot less painful and you how to get back to normal pretty quickly. So when you have these bees when you have like a quick purging of the economy talk about conventional recession about the weird thing we have now you know some of the businesses that maybe should've gone bankrupt. Here's your opportunity to go bankrupt and people going work for businesses that have better long-term outlooks. Recessions are actually I know this might sound insensitive, but recessions can be a good thing. Just like tough times in life can be a good thing.

That's right, Jerry results in almost as you set a purging I want to dig into that and talk about.

Perhaps after the break. What changes we might see in the economy that are here to stay. That and much more. Right around the corner are yesterday's Jerry Bowyer is a good friend. He is a professional economist and he doesn't charge us anything to join us in the program you want to continue to listen as we discussed where were headed in our economy. As Christian people, how long, when will it get back to normal. All that with Jerry Bowyer right after Romans 13 for all joint trust microbrews financial hands-on study show 4 inches of financial wisdom help my power of God's word right now. Financial support lies not a gift of $25 or more money lines.

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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 info to learn how Christian credit counselors can help you visit Christian credit counselors.org Christian credit counselors.or call 800-557-1985 two. Money was your post is more also joining us today is economist Jerry Bowyer. Oh, we always like to get Jerry with this every few weeks or so to get his perspective on market and economic trends and were certainly in the middle of a trend right now. We sure are Jerry just before the break you were talking about this purging of the economy that were witnessing that was brought on by this event. This was not a policy driven recession it was not a structural problem that was inherent in our economy. It was event driven and yet Jerry I think, as we've talked about before. This may accelerate some of the trends that were already taking place in our economy. How do you evaluate that in light of perhaps what changes might be here to stay.

As a result of covert, 19 yeah, I think that what hard times do is they test institutions. Hebrews says that there's a shaking so that the things that can't be shaken will remain so institutions that are economically kind of shaky that were under pressure. They tend to fall you when you have a building is not up to code.

It doesn't just necessarily fall down one day when there's an earthquake. It falls right so all you know all the problems in the structure show up when bad things happen so after the housing crisis in the housing bubble popped people said what the next bubble and I said higher education I think higher education was in some ways economically unsustainable and in some ways and bubble territory and is gotten more so, especially the physical plant aspect of higher education. Well, I didn't pop on its own. When bubbles pop, whether it's the tech bubble or the housing bubble, or now when I would argue was a higher education bubble probably and oil shale bubble as well. This bubbles usually don't pop on their own. The usually pop when bad economic times come, and then there shaken and then they fall so those are the institutions that don't view their way back up bricks and mortar retail. I don't think will be of the higher education.

I don't think will be of the I don't think Shell Oil is going to be of the because the things had gotten unsustainable to begin with, but the most part, the higher education is not a big part of the economy. The whole entertainment economy.

I look at the data. Here we look at gross output as opposed to just GDS GDP you will you and I talked about this bunch. GDP is the final stage of consumption.

Gross output is everything that happens before you add up restaurants, theaters, concerts, sports, amusement parks, all that stuff. That whole thing yeah that up. It is 1% of gross output. So I guess my point here is some of the things if they're not a V we can live with that because they're not the big economic output items.

Big economic output is manufacturing's big economic output. Item finance is a big economic output item so the stuff that is going to be under more pressure for more time has a lot of low-wage employees working in it so it is a social tragedy but it doesn't have a lot of microeconomic input in it and maybe some of those people are going to go back to working at the amusement park or whatever.

Maybe they're going to work for fulfillment centers for e-commerce ghetto which is growing like gangbusters. So I get e-commerce is another one bricks and mortar retail were under pressure. In some ways the old model of the mall was, you stop being replaced by something more like Amazon, especially well that's all accelerated now because that's what trauma and trial does.

It accelerates things so Jerry then if we go back to that analogy of the letter as a representation of how our economy is going to recover and you use the U meaning we may be in the straw for a little while. What we deal with therapeutics and ultimately wait for a vaccine and look for the other solutions to COBIT.

19. Really, what gives you confidence in the right side of the U is the fact that what you just said gross output for those sectors that will be most hard-hit are relatively small and the overall health of the economy going into it isn't that simple. Yeah it's that simple.

Were not an economy that runs on sports events and on movie theaters there are big part of our culture. They make for scary video on the evening news and empty stadium, but we can reopen all lot of the economy were a whole lot of you know, the vast majority of the economic punch is and maybe take our time a little bit with the NBA and raves and nightclubs and you know a lot of stuff. The people are indoors packed together political rallies, etc. some of that stuff can be put off and you can still have a whole lot of recovery even without those things. Jerry and I we could spend multiple programs talking about this one topic but I know it's on the heart and minds of so many of our listeners. So I want you just to give us your high level thoughts on the debt situation. Obviously, we've had incredible fiscal stimulus and open-ended monetary policy that has resulted in injecting huge amounts of money into our economy, and for good reason. The challenges during the time of the greatest economic expansion we've ever seen in the years leading up to this we were still running budget deficits.

So what does that mean for us today and what are your prospects moving forward. Given these unprecedented debt levels were now facing.

That's the thing that frightens me the most. I'm obviously concerned about the covert and concerned about economic conditions, but this is a self-imposed lockdown.

Therefore, it can be a self-imposed unlocking right we can get back to normal pretty quickly. So this we can handle question is can we handle the thing that comes from what we did to get through this we spent and borrowed and printed our way through this crisis and it worked look in all markets have generally never responded to that. But every crisis that we've had in recent times was a result of what we did to get out of the last crisis so we had a tech bubble and Matt burst and what'd we do, we went to 1% interest rates for years and what'd that do that created the housing bubble and then we had the housing bubble burst and then we have quantitative easing, one quantitative easing to quantitative easing. We created these huge bubbles and tech stocks and I think we really accelerated the higher education bubble in those circumstances I think we probably build a natural gas a shale oil bubble with all that easy money going around and the desire to be energy independent is a political goal etc. so we built those bubbles but we never spent down we never took the money back out that we created to get through the jam is like to go through a tough time in your doctor says I think you need to be on an antidepressant matting you get on the antidepressant med and then you get addicted to it right, you never get off when times are good, and then you just what higher and higher and higher doses so you know, we bailed out the housing bubble basely with government bills out the government right because the blood the federal budget is bailed out by the federal bank you know that that which buys that dad what the what bails them out in the world big enough to bail that out. So I'm very concerned about the long-term. Even the midterm effect of the step yeah well Jerry ever said we could talk about this all day and I really appreciate your thoughts. Is it fair to say to put a bow on this that we can handle the current debt levels, but we have to get serious about this in the future yet so far.

The world is been willing to fund our deficits and by dollars and hold them but if we don't get our act together. After this, and if we go too far with all of this now then will come a time when we won't be able to handle the levels of debt in the world will not buy Linda's Jerry, my friend, always great to have you with us. Unless Jerry Boyer, chief economist invited financial be right back to your calls at 1-800-525-7000 800-525-7000.

I'm Steve Moore. Moore moneywise live's many people are experiencing financial challenges such as credit card downsizing that in jobs, savings, more than half of all divorces are the result of financial pressures at home, but there's hope in your money counts biblical financial expert Howard shows that the Bible is a veritable managing your finances will discover the profound relationship with God, your money counts is available when you click the start button moneywise will I gotta work do you know the seven things not to do with your money and uncertain times, and would you like to know the ways to trim your budget amid the current pandemic you get those answers and much more.

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Call 805 five 7805 five 7000. Also our Facebook question of the day is what are you doing with your stimulus check will even take your calls on that one. If you'd like to join in. In fact, here's an example. Leslie says online.

We purchased a new grill her old 1 Was Way behind its years and were working with our pastor to get the majority of our stimulus to families in our community who are desperately impacted by not being allowed to work and that's being generous with your roof and practical very practical with your stimulus check that's exactly right. Yeah, you know, we need to think about how we use these resources do we want to pay down debt. Perhaps were in a really good spot. We want to do some additional giving. Maybe it's to shore up your emergency fund because they've cut back your hours.

Perhaps you lost a job, this is a time to preserve cash and stretch those dollars. As far as you can. Whatever it is it's a decision you could should consider with a great deal of prayer and as a person who coach 25 chicken wings in the last couple of days. The grill is important as well. So your wings you it was there. It was Mother's Day thing okay my my kids love when I grilled chicken wings and we did that. That is well so go inside scoop.

Maybe they call it something 800-525-7000. Yet if you'd like to tell us what you doing with your check.

I give us a call and will move briskly through a few of those calls but let's go to Lancaster, Pennsylvania hi Paul, nice to have you there sir, what's on your mind for taking my call. Sure I I've been blessed to have extra money each month about my budget expenses that I have and I recently a friend of mine suggested that I buy a program to help me know how to manage that extra money and the budgeting program that helps manage your budget and tell you where it put your extra money and his idea was that banks use similar software programs to maximize their cash for the best they can get.

So what when we plugged in my information, my current loan payoff would be about 18 years and this would make it look like it would probably be under five year payoff were eradicating all my my lungs but you know I see it is bringing some more awareness and discipline to my situation but I wondered what your thoughts were on spending that $3900 for such a program yeah yeah the entry cost is steep and I'm I'm not a big fan of that meeting. Works on paper, in the sense that basically what most of these will do is it will involve a line of credit where all available dollars are paid against the loan of the mortgage that you as your Princeton's income is paid to you. You reduce the line, thereby not paying interest on it for those number of days that you don't owe the money then you borrow it back out to pay your bills and you gonna repeat that cycle and there's a function by which through doing that you can actually pay things off quicker by leveraging debt you think that's similar to what they're recommending yeah that's exactly they're saying it. It will follow my available lines of credit, loans and so forth together and helps me know where to transfer money back and forth between the different account yeah yeah and so the reason I don't like is a couple reasons.

Number one is very expensive on the front end to get ahead of Intuit, you having to buy kind of their intelligence, so to speak through this software package which is very pricey. Number two and involves this line of credit which is good. Have a variable interest rate right now in a very low interest rate environment that's okay. But if rates were to move up, down the road that could work against you. It also requires a lot of discipline and you have to stay on top of things Joseph to have good cash flow and if you had a disruption in your income. Something happened you know you could get caught in a really tough spot so you know when things are complicated and complex of I can explain them to somebody else. I tend to stay away. And so what I would rather see you do is not spend all that money up front. I rather you go with a traditional fixed interest rate mortgage locking in at the perhaps the rate Yorty have or refinancing to some rate lower than that if you can save at least a point on that and then take that margin, which is a powerful force force, if you will Paul be financial margin is your income minus your expenses each month and if you spend less than you make.

Which you clearly are not. Margin is a powerful force for accomplishing your God-given goals and once you have adequate reserves paying down debt without margin or increasing your giving are both phenomenal uses of those dollars so I think taking that margin and redirecting it assuming it fits with your overall financial plan towards eradicating debt systematically as opposed to with a large upfront investment with some of the risks that come with the home equity loan with some of the complexity involved in this type of plan rather than that just go the more conventional approach would be very disciplined that as to paying down that debt just as quick as you can.

Even though you may not on paper due as well. I don't think you're opening yourselves up yourself up to as much risk in the event that something unexpected happens. That doesn't make sense though yeah I think that's very helpful. Okay, very good.

Paul hey listen, we appreciate your listening and going today, middle, or bushes, or publicize Paul appreciated and will continue to take your calls were going to have to have breaker momentarily. This is moneywise with Rob last time Steve Moore. Our phone number is 800-525-7000 were also wondering what are you doing with your stimulus check.

We had a number of people leave comments on her Facebook page today. Charlotte says we gave our ties off of it and now it's just hanging in savings didn't really need it.

I confess I was a little irritated when we got it because our government doesn't have any money to give away any thoughts on that right.

How should we feel about getting this money, particularly if we don't need it. Oh well, there's a lot there and obviously Jerry an earlier segment tackled this and he has concerns as do I about the incredible amount of money that were printing right now and essentially borrowing against the future. The same principles that apply to individuals apply to nations and unfortunately during times of plenty in this country we still lived with deficits as opposed to surpluses and now are adding to it so I think we need to be very careful in the future we need to have policy and spending with restraint so we can get on top of this, but at the bottom line is this is very necessary. What were doing. Given the current environment we find ourselves in again if you'd like to share with us briefly.

What you're doing with your stimulus check. Give us a call. Get in line 805 7000 investing is more than just returns.

It's an expression of who you are and what you value is the way you invest your money reflect your identity as a Christian and eventide design investments for performance and a better world so you can invest with the confidence to reach your financial goals while remaining true to your Christian values and commitments. We call this investing that makes the world rejoice more is available. Best eventide.com invest eventide.com 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 hi, I'm Caleb from Moody radio Moody Bible Institute first of the week is found in Isaiah 35, 334 strengthen weekends and make firm. The feeble knees say to those who have an anxious heart strong fear. Now, behold, your God will come with vengeance.

The recompense of God will come and save.

That's Isaiah 35, 334 Moody Bible and student source stating prophecies in the Old Testament is greatly can be confusing. Co-authors came from different cultures and different time and use different styles, I teamed up with my good friend Ed to bring you the Moody handbook of messianic prophecy covers explained in context virtually every messianic addiction at all points, you sure Jesus the Messiah. Get your copy@publishers.com. Here's a great deal more about our money than most of us imagine Jesus is more about our use of money and possessions and about anything else, including both heaven and hell in managing God's money. Author Randy L breaks it all down in a simple, easy to follow format that makes it the perfect reference tool if you're interested in gaining a solid biblical understanding of money, possessions and eternity managing God's money is available when you click the start button moneywise.org use on drums, Dr. Anthony Rajeev, the nation's top infectious disease expert is warning Congress ambulation of what he calls really serious consequences of suffering, death, and deeper economic damage of state and local officials lift stay at home orders to quickly shut out on Broadway has been extended again.

At least until early September. Although an exact date for performances to resume has yet to be determined.

Broadway producers are now offering refunds and exchanges were tickets purchased for shows through September 6. Consumer prices well 810s% of April with the declines led by a huge drop in gasoline prices and instructors most affected by shutdowns and afternoon slump on Wall Street gained momentum in the last hour of trading Vidal Phelps 457 points today. The NASDAQ was down 189.

This is SRN use this 800-525-7000 moneywise love Buffalo, New York. Hello then. Thanks for your patience.

What you question my call. My favorite driver training child away go all day still not great. I have five children and I believe that that also encompasses financial training as well. Any resources available that are suitable for young children between them being good stewards of God's monthly yeah I appreciate you asking this question because I wholeheartedly agree.

You know. So often students are leaving assist students with children that are students that are going on to college. They leave the home ill prepared not only in financial literacy, which is the mechanics of how does debt work and the importance of having a spending plan. Understanding what it takes to actually live in how insurance works and oh by the way, what is it mean to invest in is that a good thing. All of these really key financial literacy pieces that need to be a place but also for the Bible believing family for those Christians out there so often these children are leaving the home without a proper understanding of God's perspective of handling money. Beginning with God owns it all. And money is a tool and we're a steward and oh by the way there's 2300 verses in God's word that speaks to money and possessions and net worth and how we should handle our resources and by the way, giving breaks the power of money in all of these things need to be communicated early and often and I would say resources are graded on the dimension one specifically but probably Paul us usually been the most powerful tool in preparing your children is you, you know, just the conversations you're going to be having around the dinner table and you know when they want to buy something communicating this idea of give save spent especially for the young ones. Having your three jar system and I would recommend you have a clear charm is like a Mason jar where they can see the money in there as they get money whether you do chores or they have the ability to make some money or just birthdays and Christmas that they start to get comfortable with putting money into a save jar and to give jar and a spending jargon for those things. They're saving for. I love the idea of even having them print out a picture of what it is they're saving for and taped it right on the jar so they know what they're saving for, and that begins to acquaint them with this idea that money is limited to limited resource that we need to plan that we don't just react out of emotion and spend whatever we get, but we have a system by which we operate, and that we should be systematic givers and that's really key. I think the other piece of it is just the conversations that you'll have no as they want things or they want to go out to dinner you'll can't we go do this dad and to be at the ability to say not just we can afford it but we operate based on a plan in this family we use of the budget and we have limited resources we want to honor God with what he's given us.

So here's how that works on and begin to talk through the trade-offs that are there and have some of those really honest and practical conversations. That's really critical. I had even one dad to call Lisa, Rob, I cashed my paycheck literally in cash and I put it on the dining room table and I began to allocated out for all of the various things that it takes to run our family over a 30 day period and the kids saw how quickly it was gone and that communicated a valuable lesson for us in our family. One one month. We gave the kids control of the eating out portion of our budget.

We said you all alone at this month so you before you need to get together and develop a plan for where we can eat and how much is that going to cost and if we want to go out to lunch after church. Well, maybe we can go out for pizza Friday night and you know they were wrestling through it and it was a great lesson because they they realize that there were trade-offs about so I think the power of you and having regular conversations is really critical now getting back to your original question, what about resources. There are some great ones, and what I like to do is send you a copy of a book called the ABCs of handling money that Howard Deighton put together years ago will send you a copy. As is our gift to you, and I think this will be a great tool for you to use with the kids. But does that help pull away my kids are very on right now 752 and three weeks so good in your hand but I really think that you making them moneywise if you know very on a thing Adele. You know, of course, we made two mistakes in our life. Of course like everybody had but feel are really trying to learn from them and I like children. They have to go through any of that state that they don't have to. I couldn't agree more. I think you're on the right track. And here's the thing. Not only will they appreciated down the road. Their spouse will be grateful for this. Well then, thank you for going today. God bless you sir, thanks so much. I keep your eye on the mail and I will get the book right out or however books are being favored these days… Let's try to take one more quick on here Palm Beach Gardens, Florida hi Phil, what you question for Rob what I Gardens is going to quick question on 72 years old, currently have no debt but I do have few life insurance policies that are paid up.

The dividends are panda premiums and logical staff due to a certain age you don't need life insurance and very blessed. We have no dad, we have liquidity and I just got a good idea to keep his insurance policy. We have everything paid up for in computers and cash available to get your opinion on that. You know, still I stand is not caring insurance beyond its needed period of time, just because those premiums are going to continue to rise, likely, and even though you've built up the cash value which means that that cash values being used to fund those premiums and it's not coming out of pocket.

That's money that you could recapture in and out put into circulation for whatever God has for you right now so I think that's the thing to wrestle through is is there a functional purpose for you. Looking at this as a part of the inheritance that you will someday leave behind or is there a reason to say you know it because we been diligent savers.

We limited our lifestyle we are out of debt.

We got liquidity and all the margin we need.

We no longer need this policies were going to take that cash in working to give it away or working to do some something else with it.

This more productive than just paying this premium for money that you know will ultimately pay out at your death, but it's not needed to really offset a risk right now where somebody is depending upon you for income or something like that would have a hardship in the event of your passing. So I think that's really what you need to wrestle through right now.

Okay I appreciate your guidance thank you so much. All right, Phil, God bless you sir thanks Phil, we appreciate that listening to moneywise. You can reach us at 800-525-7000 Facebook question of the day were asking folks what are you doing with your stimulus check. Some people are left left this email is also taking your calls on this 800-525-7000. Tony says I'm encouraging those who got who got want to start by getting $300 to their church for care ministries. Connie says I paid off my iPhone and I'm saving the rest for emergency travel if needed, to out-of-state relatives. Joshua says we lost tuition reimbursement. So adding this to the cash flow for the wife's Masters degree in nursing, says my money has gone straight to savings. Mike says we are paying bills, so not sure what you want to check print not be generous and thoughtful pause for this is where I'm a car guy here to help you understand God's purpose for you like the eyes of a layman is setting to share your faith every moment of every day. You should Google rewards in heaven are simply resting and I did.

You're going to have it. For surprise status and have it be determined by what you're doing today. When you stand before the judgment seat of Christ. You will be rewarded for what you how you spent your time and what's been your motivation you later treasures on earth or in heaven focused and on the wood hay and stubble of this world consumed by fire or that which abides forever in heaven. The souls of those you the Lord, when that day comes, nothing else will matter your job is to guide revival outside the walls of your church by moving everyone here with today closer to Jesus. If you want to know how easy that is go tomorrow. TW gone hi Rob last year. Stories can be a powerful way to motivate people if you been helped by listening to moneywise live sharing your story will encourage others to follow God's financial principles and help freedom to serve the Lord more fully ask you to consider leaving a testimony after the program by calling 800-525-7000 800-525-7000 thanks and God bless you. Do you know if you have enough money of house. Do you know how much is enough.

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The church is having a form of godliness but denying its power.

Every day we hear about horrific acts perpetrated by brutal people with no self-control here seems to be no respect for human life recognition of human dignity. The treacherous killing of the unborn goes on underneath the surface of our conscious awareness. May God have mercy on us.

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It's moneywise live and Rob, let's go back to our phones, Montgomery, Illinois Linda what you question from all I are the payouts to function. My understanding is how your being made. So if the IRS has your direct deposit information because you're receiving.

For instance, entitlements like Social Security or you get a refund or you did last year and so they had that direct deposit information that's going to expedite how you get your payment. We certainly haven't heard that that's our last. It's more likely that you're not getting the electronic refund and I know many folks are getting the paper check for a variety of reasons.

Either they had to pay in something or the information is just not on file or they don't make enough to pay taxes and so that information is not there, whatever that might be those paper checks are often lagging just a bit so that's most likely the situation here, but he should be eligible for the check and so I imagine you'll be getting that groupers Linda we hope that helps. God bless you both. Thank you very much. Spokane, Washington hi John, what are you doing with your stimulus checks are the major. My question actually right you may have answered you may have answered the question. While I was waiting when you address your answer to Linda and I didn't get. But I heard on the radio which is radio news and I don't think it was a candy I Spokane Moody's affiliate that people that have a record of paying their taxes throughout our else in our Social Security recipients if they have received whatever monies coming they have to contact the IRS by tomorrow and I thought you not remember that I should call the fellows and find out it's exactly right. There is a deadline that's been said, the IRS said it. It's noon May 13 which is tomorrow to submit a direct deposit information to avoid waiting for a mailed stimulus check so you're going to want to do that again by noon tomorrow and the irises set up a portal for you to get your payments and if you just Google that IRS get my payment you'll be taken to the economic income impact statement website where you can provide your information.

Now, you would only need to do that if they don't already have it, but that is the way by which you provide that information to the IRS to ensure that you will in fact get that on an expedited basis which means the electronic form is always going to be faster, and so yeah if that's you go ahead and check that out by tomorrow noon John.

We appreciate telephone call yeah got the go-ahead and Sgt., it wasn't. We didn't care when or really the money came but having heard that it is coming and it won't come at any time unless we submitted more information by tomorrow.

That's what got our attention were not very okay know you if you didn't submitted by tomorrow you will still get it, you just get the paper version of it which could take a little bit longer but if you qualify, you will get another could always be problem along the way but for the vast majority of people, by far, you're going to get it one where the other. It's either to be electronic or in the mail and the mail is always going to be the slower version of house so let me get this straight, Rob. Essentially, the IRS is said to meet us on the street at high noon mean is that sounds, and I didn't realize I didn't read it that way, you have the money on the lab by noon tomorrow okay thanks very much, John lamented, Illinois hello Beth, how can we help you right there on out on my gutter heart that many market underlying you want to have many technical when we look at Harlequin yes well you know I'm a stand of online savings accounts. I think you can get the FDIC insurance depending upon what type of account you have. But these days yeah there's plenty of options out there. You even in this very low interest rate environment. Many of these online savings are still paying 1.5% and I realize the key for you is not the return on your money, but it's the return of your money so you want to make sure it's safe.

You want that FDIC insurance you wanted that readily accessible and I'm a fan of you putting that in an online savings account linking that to your checking you could use outlier capital 136 dear Marcus or American Express high-yield savings any of those you're really not in this environment you do any better with a money market account.

I would probably just keep it right there in savings again to expedite the transfer link it up electronically with your checking account. So when you need it just with the click of a button. That money will be moved over, usually with about two days that make sense Beth okay thanks for going back up.

Thanks, Beth S. Let's see if we can squeeze in Nathaniel now calling from music city USA also known as Nashville, Tennessee you what's on your mind. The guy I tried to claim that I will year. I'm only 21 I have been going through financial struggle.

I learned everything financially in my parent who are not very good with money. I have two small children and my girlfriend and I actually just moved to Virginia and as I'm here in Nashville. I'm trying to get more of April foundation that I can take care of them but I have such trouble with the plan and and and keeping money. I make it ended or if I have enough in it on something not very. I just can't. I don't have any discipline, hereby resources that I could you actually start procedure called Danielle your couple things. Number one is are you connected to a good Bible believing church there. Nashville, not at the moment actually something I've been online searching for a while. Search search but not okay. And honestly that's a challenge in this environment really nobody is once those restrictions begin to lift and things begin to turn back more normal later this summer when people are able to gather in groups had love for you to really connect into a local church there in Nashville are some great ones. Churches that preach the word of God, that you could get into some community and begin to grow and in your relationship with the Lord and fellowship with other believers. I think that's really key. If there's never been a time where you've trusted Christ to be the Lord of your life.

I'd love to talk to you about that are fair and share with you more about how you can know for sure that Jesus is your Lord and Savior and pursue a relationship with him.

You know, in terms of discipline. This is something we we all can struggle with in times in our lives and in different areas and so much of the way we handle money has to do with how we were raised, how money was handled.

How we watched being handled by our parents, but that doesn't mean that despite whether that was really a positive experience or not so much we can't begin to grow in our understanding of God's way of handling money because really when we understand that God owns it all, including the financial resources we have and where his money managers. Or you could use the word steward to describe that it begins to change everything Nathaniel about how you prioritize the use of God's money for the goals and objectives he's given you to take care of yourself and others to be generous to meet your needs, but also the same for your goals and I think going through a process of really praying and saying, Lord, what are those things you want me to use your money for obviously taking care of the bills on a day-to-day basis are key, but beyond that, the ability to live well within your means, which means making some hard decisions, but not just for the sake of having more money but you want to create margin so you can pursue what God is calling you to saving for future goals. Being able to do more in the way of giving and being more generous.

Being able to meet the needs of others. If you have a child being able to take care and and provide for your children is obviously very biblical in fact were commanded to do that to provide for those so all that is done in the context of prayer, goal setting, a plan living within your means and then ultimately having a budget or spending plan that takes everything I just said and and really breaks it down into a monthly plan since here's some can allocate my money.

Not just because we want to try to be really restrictive and how you handle God's money, but you're never to be able to realize your goals unless you live by that plan.

And you gotta create some flexibility inside that plan so you can do the things that God is called you to do so. I want to do two things. Number one I want you to hold the line when were done here and I want to send you a copy of Howard Dayton's book, your money counts and I want you to commit to reading that over the next couple weeks and just allow God to renew your mind as you read these biblical principles of handling money. The second thing I want you to do is go to our website moneywise live.org and I want you to connect with the coach somebody can provide some accountability to you, help you flesh out those goals help you get set up on a spending plan and then walk with you over the next several weeks as you implement will be praying for you.

Reset your call may the Lord bless you. We do thank you very much Nathaniel so it was not just enough to try harder and want to do it harder but equip yourself with some tools and ask God to help you.

Glad you called in today and we wish you the best I thanks to our technical crew, Aaron, Judy, Courtney and Jim for Rob last time Steve Moore have a great day