MoneyWise with Rob West and Steve Moore on Bott Radio

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Christian talk radio with Rob West and Steve Moore

MoneyWise is a daily radio outreach, a non-profit ministry that teaches people of all ages how to handle money based on the principles of the Bible. Steve Moore and Rob West host this daily program. MoneyWise features listener interaction and expert guests, helping people manage their finances in a way that pleases God. To be a part of the broadcast, call 1 (800) 525-7000.

Recent Episodes

Dec 10

Signs of Debt Stress

Consumer debt in the US reached $13 trillion last year and continues to grow, an unfortunate side-effect of a strong economy. People feel safe in their jobs so they borrow instead of saving for the inevitable rainy day. As Americans carry more debt that'll have to be repaid with hard-earned dollars, there may be another cost as well. Debt can take an emotional toll! Today our host, financial planner and teacher Rob West, goes over the signs of debt-related stress. One of the components of consumer debt is personal loans - the fastest growing. One-quarter of personal loans are taken out for debt consolidation. Another 10% of people took out these loans to merely refinance existing debt! So many people are living beyond their means and are going deeper into debt. Depression, anxiety, irritability, and even memory and concentration problems are possible signs of debt-related stress in our lives. How does someone know when the stress of carrying too much debt is beginning to really have an impact? Lost productivity, poor work quality, and not keeping up with household chores are tell-tale signs of stress. Stressing over debt can also cause behavioral changes. Avoiding people (screening your calls in case it's a bill collector) or dreading going to the mailbox for fear you've received late notices are a couple of behavioral changes. No wonder Proverbs 22:7 reminds us, "The borrower is slave to the lender." Debt takes away your freedoms and options. In today's show we also answer your questions: -Can I use an HSA account for tax savings? -My husband and I have many retirement plans available to us. Between us we have a SEP account, an employee stock ownership plan, an IRA rollover, and a 401(k). What's the best one to be contributing to immediately? -I've been scammed! It was for $8,000. The scammer lured me into buying gift cards. Do I owe this amount? -I have a 401(k) with a previous employer. I now have a new job and that employer also offers a 401(k) plan that I've been contributing to. What should I do with that previous 401(k)? To ask your questions, call (800) 525-7000 or email them at questions@moneywise.org. Also, visit our website, moneywise.org, where you can connect with a MoneyWise Coach, purchase books, and even download free, helpful resources. Like and Follow us on Facebook at MoneyWise Media for videos and the very latest discussion! Help us continue our outreach by clicking the Donate tab at the top of the page.

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You can come by money in many different ways: hard work, maybe through an inheritance, and certainly investing. But is all investing for profit created equal? Not according to the Bible. The Bible says there are two kinds of profit, ill-gotten versus well-gotten gain. How can you tell the difference? Host Rob West talks with investing expert Jason Myhre today to find out. Together, Rob and Jason speak about Christians in the investing world and how to invest with a faith perspective. They also look at a passage in Proverbs on the subject. In today's show we also answer your questions: -What is the best way and best order to pay off my debts? -I have an annuity that is being surrendered. I've been given a few options on how to handle this, how do I decide? You can find out more about faith-based investing at EventideFunds.com. To ask your questions, call (800) 525-7000 or email them at questions@moneywise.org. Also, visit our website, moneywise.org, where you can connect with a MoneyWise Coach, purchase books, and even download free, helpful resources. Like and Follow us on Facebook at MoneyWise Media for videos and the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. You can help us continue this outreach by clicking the Donate tab at the top of the page.

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There are two kinds of people in this world - those who budget and those who don't! One may seem like they're having more fun, but which one sleeps better at night? MoneyWise host and Kingdom Advisors president Rob West discusses the serious topic of budgeting and how to get control of your finances. In this episode we also answer your questions: -My wife and I have an exceedingly high amount of diverse debt. We can sell a home to eradicate all of this crippling debt but it means leaving everything we know and love behind as we move to another town. Is this a good idea? -I'm 56 years old. Is it wise to purchase a home this late in life instead of renting? Is it worth it to pay off my home mortgage early or should I use that money to invest elsewhere like retirement? To ask your questions, call (800) 525-7000 or email them at questions@moneywise.org. Also, visit our website, moneywise.org, where you can connect with a MoneyWise Coach, purchase books, and even download free, helpful resources. Like and Follow us on Facebook at MoneyWise Media for videos and the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. You can help us continue this outreach by clicking the Donate tab at the top of the page.

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For most of us in the northern hemisphere this time of year means one thing for certain - higher heating bills. It's great football weather but that's little comfort if you're trying to stay warm watching the game on TV. The good news is that experts are predicting a slightly warmer winter this year. But there's more you can do to cut your heating bills. Today on MoneyWise, Kingdom Advisors President Rob West has some tips! -Nearly half of US households heat with natural gas. The US Energy Information Administration says the average household using gas will spend $580 this winter which doesn't sound too bad. This is down about 1% from last winter. -Heating oil prices are expected to be slightly lower this winter. -Better to hope for the best and plan for the worst - predictions aren't perfect! -Consider a home energy audit. Many utility companies offer this at little to no cost. -Install a programmable thermostat. For every degree you lower your thermostat for 8 hours you cut 1% on your heating bill. -Change your furnace filter monthly during the winter. -Run your ceiling fans in reverse to draw down the warmer air. -Learn how to reduce drafts under exterior doors. -Turn down your water heater temperature. -Use the budget billing program from your utility company. In today's show we also answer your questions: -I have a hospital bill I've been paying on (I had two forms of insurance) but they still may send me to collections. What do I do? -What advice do you have on paying off my mortgage more quickly? -Should I try to consolidate my loans or transfer them to another account? What do you think about personal loans for this? -I have some extra money I want to save. Should I consider a money market account or a capital market account? What's the difference between these two? To ask your questions, call (800) 525-7000 or email them at questions@moneywise.org. Also, visit our website, moneywise.org, where you can connect with a MoneyWise Coach, purchase books, and even download free, helpful resources. Like and Follow us on Facebook at MoneyWise Media for videos and the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. You can help us continue this outreach by clicking the Donate tab at the top of the page.

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Given the option of Pay now or pay later, too many of us choose the latter. You might call it Have now, pay later. Everyone knows the financial risk that comes with debt, but that's just the half of it! God's Word warns of the spiritual dangers whenever you pull out your credit card or sign a loan agreement. Host Rob West talks about that with Kingdom Advisors co-founder Ron Blue. -Debt may not be a sin, but some of the things that motivate the debt could be sin. -There are emotional, psychological, and even spiritual dangers of debt. -Money can be blamed for an awful lot of marital issues. -Debt can increase our stress levels. -In the book of James we're warned against the presumption upon the future, which is at the very core of the nature of debt. -A lot of times debt can deny God the opportunity for Him to provide for us. -God can provide what we need when we need it. We need to trust in Him, not in debt. Ron Blues book is "Never Enough?: 3 Keys to Financial Contentment." In today's show we also answer your questions: -I have a home equity line that I've used for home upkeep. Is there something better out there into which I can move this home equity balance to pay it off more quickly? -Is tithing still for today? To ask your questions, call (800) 525-7000 or email them at questions@moneywise.org. Also, visit our website, moneywise.org, where you can connect with a MoneyWise Coach, purchase books, and even download free, helpful resources. Like and Follow us on Facebook at MoneyWise Media for videos and the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. You can help us continue this outreach by clicking the Donate tab at the top of the page.

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