1 00:00:08,520 --> 00:00:12,039 S1: Staying on budget doesn't have to be complicated. Sometimes all 2 00:00:12,039 --> 00:00:15,440 S1: it takes is five intentional minutes each week. Hi, I'm 3 00:00:15,440 --> 00:00:18,720 S1: Rob West. A budget isn't a set it and forget 4 00:00:18,720 --> 00:00:22,120 S1: it tool. It's something we revisit so our spending lines 5 00:00:22,120 --> 00:00:25,160 S1: up with our values. Today, Crystal Payne joins us to 6 00:00:25,200 --> 00:00:28,400 S1: share a simple weekly rhythm that can help you stay 7 00:00:28,400 --> 00:00:30,640 S1: on track. And then it's on to your calls at 8 00:00:30,640 --> 00:00:38,000 S1: 800 525 7000. That's 800 525 7000. This is faith 9 00:00:38,000 --> 00:00:45,960 S1: and finance. Live biblical wisdom for your financial decisions. Well, 10 00:00:45,960 --> 00:00:48,400 S1: our guest today is Crystal Payne, a longtime friend of 11 00:00:48,400 --> 00:00:52,360 S1: this program and the creator of Money Saving Moms. She 12 00:00:52,360 --> 00:00:55,160 S1: also has a wonderful article in the latest issue of 13 00:00:55,160 --> 00:00:59,600 S1: Faithful Steward on how to stay on budget this season. Crystal, 14 00:00:59,600 --> 00:01:01,280 S1: we're delighted to have you back with us. 15 00:01:01,280 --> 00:01:02,720 S2: Thank you so much for having me. 16 00:01:03,240 --> 00:01:07,240 S1: You narrow this down to six simple questions we can 17 00:01:07,240 --> 00:01:10,039 S1: ask ourselves each week. So I want to walk through 18 00:01:10,040 --> 00:01:13,880 S1: them one by one. And the first is what worked 19 00:01:13,920 --> 00:01:17,080 S1: this week. Help us understand why that's so important. 20 00:01:17,560 --> 00:01:20,360 S2: I think it's so important to start by noticing positive 21 00:01:20,360 --> 00:01:23,560 S2: habits and small wins, to look at anything that went 22 00:01:23,560 --> 00:01:26,800 S2: better than you expected in your spending, and really celebrate 23 00:01:26,800 --> 00:01:29,320 S2: that even if it feels small, and then build that 24 00:01:29,319 --> 00:01:32,400 S2: motivation by naming what's working right now. 25 00:01:32,600 --> 00:01:35,600 S1: Yeah, absolutely. And that makes so much sense. And then 26 00:01:35,600 --> 00:01:38,319 S1: the next question is the obvious follow on to that, 27 00:01:38,319 --> 00:01:41,000 S1: which is okay. If I looked at what worked this week, 28 00:01:41,000 --> 00:01:43,880 S1: now I need to ask what didn't work this week. 29 00:01:43,920 --> 00:01:46,760 S1: And we should be paying attention to that as well, right? 30 00:01:46,800 --> 00:01:49,000 S2: Yes. You know, starting with the positive, because then you're 31 00:01:49,000 --> 00:01:51,960 S2: going to have to confront the negative and identify the 32 00:01:51,960 --> 00:01:55,040 S2: areas where spending got off track and really look for 33 00:01:55,040 --> 00:01:59,350 S2: patterns like, are you overspending in certain areas like meals 34 00:01:59,350 --> 00:02:02,790 S2: out or impulse buys. I want you to remove the shame. 35 00:02:02,790 --> 00:02:06,870 S2: This isn't about feeling guilty about this. It's just about 36 00:02:06,870 --> 00:02:10,230 S2: the awareness and then using that awareness to help you 37 00:02:10,230 --> 00:02:12,070 S2: adjust your plan moving forward. 38 00:02:12,070 --> 00:02:14,430 S1: That's great. Now next up is what do I want 39 00:02:14,470 --> 00:02:16,750 S1: to change? So what are we getting at there. 40 00:02:17,190 --> 00:02:20,230 S2: Really to pinpoint a practical next step. What's going to 41 00:02:20,270 --> 00:02:23,430 S2: make next week smoother? I want you to decide whether 42 00:02:23,430 --> 00:02:27,350 S2: your budget categories maybe need a refresh, and maybe just 43 00:02:27,350 --> 00:02:30,950 S2: having some reminders or better tracking habits and really adjusting 44 00:02:30,950 --> 00:02:35,150 S2: your expectations. Maybe your budget doesn't reflect your real life. 45 00:02:35,150 --> 00:02:38,109 S2: So what's one small change that can increase that confidence 46 00:02:38,110 --> 00:02:39,150 S2: for the next week? 47 00:02:39,389 --> 00:02:42,350 S1: Yeah, that makes sense. Now I love this next question 48 00:02:42,350 --> 00:02:45,350 S1: and that is what surprised me. So what kinds of 49 00:02:45,350 --> 00:02:46,389 S1: things are we listening for? 50 00:02:46,430 --> 00:02:50,829 S2: There really are there some unexpected expenses, large or small? 51 00:02:50,870 --> 00:02:54,790 S2: Were bills higher or lower than usual? Sure. Were there 52 00:02:54,790 --> 00:02:57,750 S2: refunds or credits that you forgot about? And this can 53 00:02:57,750 --> 00:03:00,989 S2: just give you some new insights into your spending rhythm. 54 00:03:01,190 --> 00:03:03,630 S1: Yeah. That's great. And then you tell us to ask. 55 00:03:03,630 --> 00:03:06,830 S1: And no surprise here was I over budget anywhere. Now, 56 00:03:06,830 --> 00:03:10,829 S1: if we spot something that's over budget, what's our next step. 57 00:03:11,150 --> 00:03:13,870 S2: Really to think okay, was this a one time issue 58 00:03:13,870 --> 00:03:16,910 S2: or is this a recurring pattern? So often things can 59 00:03:16,950 --> 00:03:20,549 S2: kind of be sneaky. You know, you didn't expect that 60 00:03:20,590 --> 00:03:22,710 S2: this was going to be in your budget. But it is. 61 00:03:22,750 --> 00:03:25,550 S2: And so adjust the category. If the real life spending 62 00:03:25,550 --> 00:03:29,150 S2: is consistently higher. Look for opportunities to trim in other 63 00:03:29,150 --> 00:03:31,669 S2: areas and really think of your budget like a GPS. 64 00:03:31,830 --> 00:03:34,150 S2: Just recalculate and keep going. 65 00:03:34,590 --> 00:03:37,190 S1: I like that a lot. And then finally, the sixth 66 00:03:37,190 --> 00:03:41,030 S1: question we should ask ourselves each week any aha moment. 67 00:03:41,030 --> 00:03:44,870 S1: So what kinds of insights do people usually uncover here? 68 00:03:45,350 --> 00:03:49,070 S2: Well, I think realizing how planning ahead really can reduce 69 00:03:49,070 --> 00:03:52,750 S2: stress and that can give you motivation to continue doing that. Also, 70 00:03:52,750 --> 00:03:57,150 S2: seeing connections between habits and emotions, noticing where your values 71 00:03:57,270 --> 00:04:00,430 S2: and spending align, or maybe where they don't, and you 72 00:04:00,430 --> 00:04:03,230 S2: need to tweak something. And that can really just give 73 00:04:03,230 --> 00:04:06,670 S2: you insight into long term patterns and discover maybe some 74 00:04:06,670 --> 00:04:09,350 S2: small mindset shifts that can make a big impact. 75 00:04:09,510 --> 00:04:12,390 S1: Crystal at the heart of this is really just intentionality, 76 00:04:12,390 --> 00:04:15,790 S1: isn't it? It's really with a thoughtful approach, revisiting your 77 00:04:15,790 --> 00:04:18,390 S1: budget on a weekly basis. That's a game changer, right? 78 00:04:18,630 --> 00:04:21,070 S2: Yes. I think it's just that having it in front 79 00:04:21,070 --> 00:04:24,590 S2: of you consistently makes such a difference to help you 80 00:04:24,589 --> 00:04:25,830 S2: to stick with it. 81 00:04:25,870 --> 00:04:28,350 S1: Yeah, we've got just about 30s left. Let's talk to 82 00:04:28,390 --> 00:04:32,110 S1: the married couples out there. Should they do this exercise together? 83 00:04:32,430 --> 00:04:35,109 S2: I would highly recommend it. As long as you can 84 00:04:35,110 --> 00:04:38,230 S2: come with this attitude of being willing to listen to 85 00:04:38,230 --> 00:04:40,950 S2: your spouse. This is not about, you know, hitting them 86 00:04:40,950 --> 00:04:43,190 S2: over the head and telling them what they've done wrong. 87 00:04:43,190 --> 00:04:46,990 S2: This is really about communicating together so that you can 88 00:04:46,990 --> 00:04:48,870 S2: move your priorities forward. 89 00:04:48,910 --> 00:04:52,109 S1: That is well said, folks. A simple weekly review. Just 90 00:04:52,110 --> 00:04:55,430 S1: six questions can turn your budget from something you react 91 00:04:55,430 --> 00:04:59,219 S1: to into something that actually works for you. Crystal. So 92 00:04:59,220 --> 00:05:01,300 S1: helpful as always, thanks for being with us. 93 00:05:01,300 --> 00:05:02,659 S2: Thanks so much for having me. 94 00:05:02,700 --> 00:05:05,539 S1: Crystal pain has been our guest today. She's a good friend. 95 00:05:05,540 --> 00:05:09,100 S1: She's the creator of Money Saving Moms and also the 96 00:05:09,100 --> 00:05:12,540 S1: author of How can I Keep my Budget on Track? 97 00:05:12,580 --> 00:05:17,100 S1: Check out Money Saving Moms today. You'll be glad you did. 98 00:05:17,140 --> 00:05:22,020 S1: We'll be back with your questions after this. 800 525 7000. 99 00:05:22,060 --> 00:05:22,740 S1: Stick around. 100 00:05:31,820 --> 00:05:34,660 S3: The opinions offered during this program represent the personal or 101 00:05:34,660 --> 00:05:38,779 S3: professional opinions of the participants, given for informational purposes only. 102 00:05:38,940 --> 00:05:42,220 S3: Any information provided is not intended to replace advice from 103 00:05:42,220 --> 00:05:46,060 S3: a financial, medical, legal, or other professional who understands your 104 00:05:46,060 --> 00:05:47,500 S3: specific situation. 105 00:05:56,140 --> 00:05:57,859 S1: Well. Glad to have you with us today on Faith 106 00:05:57,860 --> 00:06:00,900 S1: and finance live, I'm Rob West. Looking forward to taking 107 00:06:00,900 --> 00:06:04,260 S1: your calls and questions today on anything financial as we 108 00:06:04,300 --> 00:06:07,220 S1: dive into those topics here in just a moment. Now's 109 00:06:07,220 --> 00:06:11,460 S1: a great time for you to call 800 525 7000. Again, 110 00:06:11,460 --> 00:06:15,860 S1: that number is 800 525 7000. We've got some lines 111 00:06:15,860 --> 00:06:18,420 S1: open at the moment, and we will begin taking your 112 00:06:18,420 --> 00:06:22,460 S1: calls here on any financial topic. Uh, just around the corner, uh, 113 00:06:22,460 --> 00:06:25,739 S1: in the news today, Medicare's new payment experience called team 114 00:06:25,740 --> 00:06:32,140 S1: that stands for Transforming Episode Accountability Model, could significantly affect patients, 115 00:06:32,140 --> 00:06:37,500 S1: family caregivers, and post-acute providers. Uh team aims to improve 116 00:06:37,500 --> 00:06:41,420 S1: the quality of care after hospital discharge. They do this 117 00:06:41,420 --> 00:06:46,140 S1: by holding hospitals financially responsible for all Medicare costs for 118 00:06:46,140 --> 00:06:50,780 S1: 30 days. So in theory, this could encourage better coordination 119 00:06:50,779 --> 00:06:53,700 S1: in a fragmented system, and the goal is to improve 120 00:06:53,700 --> 00:06:58,780 S1: communications with families as well, but the model also carries risks. 121 00:06:58,980 --> 00:07:03,740 S1: Financial pressure could lead hospitals and partner providers, such as 122 00:07:03,740 --> 00:07:08,020 S1: home health agencies or skilled nursing facilities, to cut costs 123 00:07:08,020 --> 00:07:11,300 S1: in ways that reduce care quality. It may also shift 124 00:07:11,300 --> 00:07:17,860 S1: more caregiving responsibilities to already strained families as hospitals discharge 125 00:07:17,860 --> 00:07:23,020 S1: more patients directly. Home team applies bundled payments to five 126 00:07:23,060 --> 00:07:28,380 S1: common surgeries across more than 740 hospitals. If spending exceeds 127 00:07:28,420 --> 00:07:33,220 S1: a government benchmark, hospitals pay Medicare. If it's lower, they 128 00:07:33,220 --> 00:07:37,700 S1: share savings. Some institutions may innovate and thrive under the 129 00:07:37,700 --> 00:07:41,780 S1: new model, while others may struggle, leaving families to cope 130 00:07:41,780 --> 00:07:46,580 S1: with uneven results. Ultimately, team success will be measured by 131 00:07:46,620 --> 00:07:50,460 S1: whether patients receive better, more coordinated care, not just lower 132 00:07:50,460 --> 00:07:52,620 S1: costs will certainly keep an eye on this, but we 133 00:07:52,620 --> 00:07:55,660 S1: recognize that this could affect many of you in the 134 00:07:55,660 --> 00:07:58,740 S1: listening audience, and so we'll keep tabs on it for sure. 135 00:07:59,180 --> 00:08:01,220 S1: All right. Let's dive into your questions today. We've got 136 00:08:01,220 --> 00:08:03,300 S1: some lines open. Now's a great time to call. If 137 00:08:03,300 --> 00:08:06,220 S1: you have a question on anything financial, whether you're thinking 138 00:08:06,220 --> 00:08:10,860 S1: about investing or paying down debt, maybe you're considering, uh, 139 00:08:10,860 --> 00:08:13,980 S1: you know, how you, uh, give wisely, uh, or get 140 00:08:13,980 --> 00:08:16,460 S1: that credit score going in the right direction? Whatever you're 141 00:08:16,460 --> 00:08:22,260 S1: thinking about today, now's the time to call 800 525 7000. Uh, 142 00:08:22,260 --> 00:08:24,660 S1: let's start in Kansas today, Jose. Go right ahead. 143 00:08:24,700 --> 00:08:26,380 S4: Hi there, everybody. Thank you for having me on. I 144 00:08:26,380 --> 00:08:27,540 S4: appreciate it, of course. 145 00:08:27,580 --> 00:08:28,220 S1: Absolutely. 146 00:08:28,260 --> 00:08:30,900 S4: All right, so, uh, the thing is, I've got a 147 00:08:30,900 --> 00:08:33,460 S4: friend who lives in a neighboring state, and he's been 148 00:08:33,500 --> 00:08:35,860 S4: having a tough time for a bit of a while. Uh, 149 00:08:35,900 --> 00:08:38,580 S4: hasn't had a job. I've been helping him out since 150 00:08:38,620 --> 00:08:43,620 S4: about late September, early October. He's been looking for work tenaciously. 151 00:08:43,620 --> 00:08:47,140 S4: I'm hoping, praying, you know, and I've been able to 152 00:08:47,140 --> 00:08:49,420 S4: help him out as much as I can. Only it's 153 00:08:49,420 --> 00:08:51,740 S4: starting to take its toll at this point. And I've 154 00:08:51,740 --> 00:08:54,610 S4: been asking him, hey man, get some financial literacy, get some, 155 00:08:54,650 --> 00:08:57,130 S4: get some credit going. I asked him, hey, I asked 156 00:08:57,130 --> 00:08:58,449 S4: him if you could take out a loan or anything. 157 00:08:58,450 --> 00:09:00,010 S4: He said he ain't even got credit to work with. 158 00:09:00,050 --> 00:09:02,970 S4: I'm like, whoa. And what I wanted to ask is 159 00:09:03,130 --> 00:09:05,290 S4: what would be a way or strategy he might be 160 00:09:05,290 --> 00:09:07,850 S4: able to use to help himself out or set himself 161 00:09:07,850 --> 00:09:10,730 S4: up for some success? Yeah. And then even for myself, 162 00:09:10,770 --> 00:09:13,450 S4: to not end up putting my own self in a problem, 163 00:09:13,450 --> 00:09:13,770 S4: you know? 164 00:09:13,809 --> 00:09:16,090 S1: Yeah, I think that's wise, because we've got to strike 165 00:09:16,090 --> 00:09:20,010 S1: a balance between your desire to help. And that's admirable, admirable, 166 00:09:20,250 --> 00:09:23,690 S1: and putting your own finances at risk. And even beyond that, 167 00:09:24,130 --> 00:09:28,610 S1: continuing to allow him to perpetuate the same financial habits 168 00:09:28,610 --> 00:09:30,770 S1: that are not going to allow him to kind of 169 00:09:30,809 --> 00:09:34,890 S1: get into a stronger financial footing. So your assistance without, 170 00:09:34,929 --> 00:09:38,530 S1: you know, his own effort and gratitude toward what you're doing, 171 00:09:38,530 --> 00:09:41,330 S1: but also a willingness to, you know, work hard and 172 00:09:41,330 --> 00:09:44,850 S1: make tough decisions, is is not really going to get 173 00:09:44,850 --> 00:09:47,970 S1: him to a place where, you know, he's better off. 174 00:09:48,250 --> 00:09:52,050 S1: And so you could inadvertently be encouraging this kind of 175 00:09:52,050 --> 00:09:55,370 S1: behavior to continue. So, you know, I think you can 176 00:09:55,370 --> 00:09:58,730 S1: help a lot without putting your own finances at risk. 177 00:09:58,730 --> 00:10:03,330 S1: And that's going to be requiring two things. First, boundaries 178 00:10:03,330 --> 00:10:07,809 S1: and structure. And then second, connecting him with the the 179 00:10:07,850 --> 00:10:12,610 S1: right resources. Um, so in terms of setting a sustainable 180 00:10:12,610 --> 00:10:15,569 S1: health plan, you know, I think, uh, first question is, 181 00:10:15,570 --> 00:10:18,410 S1: do you have the ability to help? And, you know, 182 00:10:18,450 --> 00:10:21,010 S1: you've really got to look, uh, you know, long and 183 00:10:21,010 --> 00:10:24,770 S1: hard at at what you have available and make sure 184 00:10:24,809 --> 00:10:28,250 S1: whatever assistance you're offering, if any, is a part of 185 00:10:28,250 --> 00:10:30,650 S1: your plan. So take a look at your budget and 186 00:10:30,650 --> 00:10:34,050 S1: just see, do I have the capacity to provide assistance? 187 00:10:34,050 --> 00:10:37,050 S1: You may come to the conclusion that, you know, based 188 00:10:37,050 --> 00:10:39,730 S1: on what you've already done, you're kind of tapped out. 189 00:10:39,929 --> 00:10:42,569 S1: And so you need to, you know, come alongside him, 190 00:10:42,570 --> 00:10:46,090 S1: encourage him, you know, pray for him, connect him or 191 00:10:46,130 --> 00:10:49,890 S1: point him to other resources. But your time to continue 192 00:10:49,890 --> 00:10:53,610 S1: to provide financially may have come to an end. And 193 00:10:53,610 --> 00:10:55,810 S1: if that's the case, I think you just need to 194 00:10:55,809 --> 00:11:00,490 S1: be clear about that reality. Um, I think beyond that, um, 195 00:11:00,610 --> 00:11:03,290 S1: you know, maybe if you do have the ability to help, 196 00:11:03,290 --> 00:11:06,730 S1: you're providing direct help over cash. So you're offering a 197 00:11:06,770 --> 00:11:09,850 S1: gift card for gas or groceries or help with a 198 00:11:09,850 --> 00:11:12,890 S1: job search or, you know, paying a bill directly. You're 199 00:11:12,890 --> 00:11:16,650 S1: not just handing over cash. Um, you know, I think 200 00:11:16,690 --> 00:11:20,209 S1: also encouraging him to look for local options so he 201 00:11:20,210 --> 00:11:23,410 S1: could call or text 211 to find out if there's 202 00:11:23,410 --> 00:11:27,130 S1: local resources for rent or housing help or utilities or, 203 00:11:27,290 --> 00:11:30,810 S1: or food. There's you know, obviously the Snap programs, there's 204 00:11:30,809 --> 00:11:34,729 S1: unemployment benefits. I mean, there's a whole host of options 205 00:11:34,730 --> 00:11:38,050 S1: there that he should explore. The last thing I will 206 00:11:38,050 --> 00:11:40,089 S1: say is, you know, we would be happy to be 207 00:11:40,090 --> 00:11:42,650 S1: part of the solution if he's in a place where 208 00:11:42,650 --> 00:11:46,089 S1: he's ready to get serious about, you know, what needs 209 00:11:46,090 --> 00:11:49,449 S1: to change and making the hard choices. And we could 210 00:11:49,450 --> 00:11:53,920 S1: do that by providing a certified Christian financial counselor. Um, 211 00:11:54,040 --> 00:11:56,240 S1: that we would cover the cost for. But it would 212 00:11:56,240 --> 00:11:58,800 S1: be somebody that is not you. And that's probably a 213 00:11:58,800 --> 00:12:04,719 S1: good thing that could come alongside him to provide objective insight, accountability, 214 00:12:04,760 --> 00:12:08,480 S1: help him set up a budget, prioritize his spending, those 215 00:12:08,480 --> 00:12:11,280 S1: kinds of things. Now, I'll ask you to use your 216 00:12:11,280 --> 00:12:13,680 S1: discernment as to whether or not he's in a place 217 00:12:13,679 --> 00:12:16,960 S1: where that would be productive. If so, we'd be happy 218 00:12:16,960 --> 00:12:19,920 S1: to provide it. If you think no, I think maybe 219 00:12:19,960 --> 00:12:22,880 S1: he needs to experience some tough love and and maybe 220 00:12:22,880 --> 00:12:26,120 S1: some of the consequences of his actions without you stepping 221 00:12:26,120 --> 00:12:28,720 S1: in and rescuing him for a season. Well, we'll trust 222 00:12:28,720 --> 00:12:30,559 S1: your judgment in that. Does that make sense? 223 00:12:30,600 --> 00:12:32,520 S4: Yes, sir. It does. I appreciate the help. 224 00:12:33,000 --> 00:12:34,680 S1: All right, so, listen, I'm going to have you stay 225 00:12:34,679 --> 00:12:37,360 S1: on the line if you do want the information. Um, 226 00:12:37,400 --> 00:12:40,160 S1: you know, our team will get your contact info and 227 00:12:40,160 --> 00:12:43,120 S1: and get a certified Christian financial counselor and touch with you. 228 00:12:43,120 --> 00:12:45,160 S1: If you feel like the time is not right, then 229 00:12:45,160 --> 00:12:48,160 S1: you could decline that. Call us back when you think, uh, 230 00:12:48,160 --> 00:12:51,360 S1: when you think it's right. But listen, I appreciate what 231 00:12:51,360 --> 00:12:53,839 S1: you're trying to do here, and I think you know 232 00:12:53,880 --> 00:12:58,559 S1: your support relationally and practically, and pointing him toward community 233 00:12:58,600 --> 00:13:02,960 S1: based aid or national ministries is probably the right move. 234 00:13:03,280 --> 00:13:05,959 S1: And this is probably a time for you to create 235 00:13:05,960 --> 00:13:10,480 S1: some boundaries for your own participation in financial help. Hey Jose, 236 00:13:10,480 --> 00:13:12,240 S1: thanks for calling. Hang on the line and our team 237 00:13:12,240 --> 00:13:14,520 S1: will chat with you a bit further and if we 238 00:13:14,520 --> 00:13:18,240 S1: can help further along the way, don't hesitate to reach out. Well, folks, uh, 239 00:13:18,240 --> 00:13:20,640 S1: we're just getting started here today, and we're going to 240 00:13:20,640 --> 00:13:22,600 S1: head up into a break here in just a second. 241 00:13:22,600 --> 00:13:24,840 S1: When we come back, we'll head to Cleveland and talk 242 00:13:24,840 --> 00:13:27,920 S1: to Cathy. And, uh, we've got some other calls coming in. Now, 243 00:13:27,920 --> 00:13:30,480 S1: we do still have some lines available, so if you've 244 00:13:30,480 --> 00:13:32,319 S1: got a question today, you want to get in on 245 00:13:32,320 --> 00:13:38,400 S1: the broadcast. Uh, anything financial today? Call 800 525 7000. 246 00:13:38,440 --> 00:13:42,800 S1: That's 800 525 7000. Coming up in our final segment today, 247 00:13:42,800 --> 00:13:45,720 S1: Bob Dole stops by. We'll look forward to hearing from 248 00:13:45,720 --> 00:13:49,120 S1: Bob on a roller coaster day in the markets, this, uh, 249 00:13:49,240 --> 00:13:55,520 S1: stoking of a possible global trade war, uh, over Greenland and, uh, 250 00:13:55,520 --> 00:13:59,800 S1: and Europe, uh, from President Trump has caused the Dow 251 00:13:59,840 --> 00:14:04,240 S1: to slide nearly 900 points today, the S&P 500 down 252 00:14:04,240 --> 00:14:08,960 S1: 143 points. That's off 2%. That's the worst day since October. 253 00:14:08,960 --> 00:14:12,119 S1: We'll get, uh, Bob's take on whether this is temporary 254 00:14:12,120 --> 00:14:14,839 S1: or there could be something more to this. This is 255 00:14:14,840 --> 00:14:25,200 S1: faith in finance. Live. We'll be right back. Hey, thanks 256 00:14:25,200 --> 00:14:28,160 S1: for joining us today on Faith and Finance Live. We've 257 00:14:28,160 --> 00:14:30,880 S1: got just a few lines open room for you if 258 00:14:30,920 --> 00:14:34,200 S1: you've got a question today, but they probably won't stay 259 00:14:34,200 --> 00:14:38,480 S1: open long. 800 525 7000. Let's head to Ohio. Hi, Mary. 260 00:14:38,520 --> 00:14:39,080 S1: Go ahead. 261 00:14:39,240 --> 00:14:44,920 S5: Hi. Yes, um, my husband died about six years ago, and, um, 262 00:14:44,960 --> 00:14:49,150 S5: I had, uh, taken Taking care of his estate between 263 00:14:49,150 --> 00:14:54,430 S5: myself and my three adult sons. And recently, um, just 264 00:14:54,430 --> 00:14:56,670 S5: over the holidays, we were looking through some of his 265 00:14:56,670 --> 00:15:00,670 S5: stuff and realized that he had all these containers of coins, 266 00:15:01,230 --> 00:15:04,990 S5: and my my one son was looking into it, and 267 00:15:04,990 --> 00:15:07,910 S5: they might be worth like quite a bit of money 268 00:15:08,110 --> 00:15:12,070 S5: for the silver that's in them and didn't realize that. Um, 269 00:15:12,510 --> 00:15:15,390 S5: so now we're thinking we should probably go ahead and 270 00:15:15,390 --> 00:15:21,750 S5: cash those in. Um, so I'm wondering about taxes and, um, um, 271 00:15:22,190 --> 00:15:24,870 S5: how to do that. Exactly. And then like the it 272 00:15:24,870 --> 00:15:28,270 S5: would inherited and I didn't list that as part of 273 00:15:28,310 --> 00:15:32,350 S5: the assets because I didn't even think about them. Um, yeah. 274 00:15:32,350 --> 00:15:34,150 S5: So just don't know where to go from there. 275 00:15:34,550 --> 00:15:38,870 S1: Okay. Very good. Uh, yeah. So it really requires that 276 00:15:38,870 --> 00:15:42,190 S1: you clarify who owns the coins now because this will 277 00:15:42,470 --> 00:15:46,390 S1: matter for taxes. So you said you divided did everything 278 00:15:46,430 --> 00:15:50,910 S1: among your children. That usually means the children now own 279 00:15:50,950 --> 00:15:54,350 S1: the coins, not her. And then each child would be 280 00:15:54,510 --> 00:15:59,790 S1: responsible for deciding when to sell and reporting any taxes due. 281 00:16:00,230 --> 00:16:04,230 S1: If you still legally own them, the tax treatment changes. 282 00:16:05,190 --> 00:16:08,110 S1: But most often in these cases, the kids would be 283 00:16:08,110 --> 00:16:10,510 S1: the sellers, which means, you know, they would have been 284 00:16:10,510 --> 00:16:16,710 S1: inherited with a stepped up basis to their fair market value. Um, 285 00:16:16,710 --> 00:16:19,630 S1: do you know kind of how that went down? 286 00:16:20,830 --> 00:16:24,310 S5: Um, well, I mean, um, what do you mean, how 287 00:16:24,310 --> 00:16:24,830 S5: that went down? 288 00:16:24,870 --> 00:16:27,990 S1: Well, are they a marital asset, or were they owned 289 00:16:27,990 --> 00:16:32,470 S1: solely by your husband? And, um, at his passing, you know, 290 00:16:32,510 --> 00:16:34,550 S1: you said they were not a part of the estate. 291 00:16:34,550 --> 00:16:35,390 S1: Is that right? 292 00:16:35,870 --> 00:16:38,710 S5: Well, I just we're married and everything, and they were 293 00:16:38,710 --> 00:16:41,110 S5: just sitting in the house, and I didn't really even 294 00:16:41,150 --> 00:16:45,190 S5: think about those as being worth anything. Um, and I 295 00:16:45,270 --> 00:16:48,430 S5: didn't even think about including them. They were just coins 296 00:16:48,430 --> 00:16:52,470 S5: that he had, you know, collected and actually got, I think, 297 00:16:52,470 --> 00:16:55,670 S5: from his uncle years ago when he had died and 298 00:16:55,670 --> 00:16:59,230 S5: never did anything with them. And, uh, yeah. So, I mean, 299 00:16:59,230 --> 00:17:03,550 S5: my three sons, um, so they would have to take those, 300 00:17:03,590 --> 00:17:06,070 S5: I guess, to an appraiser and get them appraised and 301 00:17:06,070 --> 00:17:09,790 S5: see how much they're worth, and then go back until 302 00:17:09,950 --> 00:17:13,310 S5: the date when my husband actually died. And then the 303 00:17:13,310 --> 00:17:15,910 S5: appreciation from then till now would be what they would 304 00:17:15,910 --> 00:17:19,590 S5: pay the inherited taxes on. Would that the capital gains 305 00:17:19,630 --> 00:17:20,310 S5: on that? 306 00:17:20,430 --> 00:17:22,990 S1: You would want to check with a CPA on that 307 00:17:22,990 --> 00:17:26,149 S1: and an estate attorney? I mean, because Ohio is a 308 00:17:26,150 --> 00:17:30,109 S1: community law or common law property state, uh, not a 309 00:17:30,109 --> 00:17:34,629 S1: community property state. It probably means that at at his death, 310 00:17:34,950 --> 00:17:39,750 S1: his share passed through his estate, uh, to you. And 311 00:17:39,750 --> 00:17:43,510 S1: so now you're the 100% owner of the coins. And 312 00:17:43,510 --> 00:17:47,790 S1: then if your intention is to ultimately gift them to 313 00:17:47,830 --> 00:17:51,229 S1: the children at your death, they wouldn't own them today. 314 00:17:51,230 --> 00:17:55,109 S1: You would. And and so you would just have to determine, 315 00:17:55,270 --> 00:17:58,310 S1: you know what? Whether 100% of these I mean, it 316 00:17:58,310 --> 00:18:00,790 S1: could be that his portion was stepped up and your 317 00:18:00,790 --> 00:18:03,389 S1: portion isn't. That's where you'd need to get some some 318 00:18:03,430 --> 00:18:07,510 S1: tax advice. Um, but your plan, I assume, is because 319 00:18:07,510 --> 00:18:09,790 S1: everything that was in, you know, that belonged to your 320 00:18:09,790 --> 00:18:13,670 S1: husband is now yours. Uh, so therefore, they don't belong 321 00:18:13,710 --> 00:18:16,270 S1: to the kids until you pass away. And I'm assuming 322 00:18:16,270 --> 00:18:18,669 S1: your will or trust says that they would go to 323 00:18:18,710 --> 00:18:20,469 S1: the kids at that point. Is that right? 324 00:18:20,510 --> 00:18:24,630 S5: Well, but see, my husband in his will, he had 325 00:18:24,630 --> 00:18:29,150 S5: everything go to the kids. And so, um, everything went 326 00:18:29,150 --> 00:18:34,430 S5: to my sons. Our sons. But, um, my sons, there 327 00:18:34,430 --> 00:18:37,189 S5: was an issue with my husband and myself. Um, we 328 00:18:37,190 --> 00:18:40,230 S5: didn't get along, so he really just had everything going 329 00:18:40,270 --> 00:18:43,899 S5: to the boys. But the boys share it with me. 330 00:18:43,900 --> 00:18:46,300 S5: So they didn't feel like that. You know, so when 331 00:18:46,300 --> 00:18:49,820 S5: we did all the assets, my my son's got everything, 332 00:18:50,180 --> 00:18:55,540 S5: but they divided it with me on their own. So, um, 333 00:18:55,859 --> 00:18:57,900 S5: I would assume then the coins would go to them, 334 00:18:57,900 --> 00:19:01,060 S5: they would cash them in, and then they would give me, like, 335 00:19:01,060 --> 00:19:03,860 S5: they would divide that up and give me portion of 336 00:19:03,900 --> 00:19:07,060 S5: that as part of being in the family. We kind 337 00:19:07,100 --> 00:19:08,820 S5: of kept everything just that way. 338 00:19:08,940 --> 00:19:12,780 S1: Um, okay. Well, so yeah, again, this is where you're 339 00:19:12,780 --> 00:19:15,460 S1: going to need some guidance here. And I'm just talking 340 00:19:15,460 --> 00:19:19,939 S1: through this with you. But, uh, given what you're describing here, um, 341 00:19:20,180 --> 00:19:23,020 S1: you know, in a marriage, many of the assets are marital, 342 00:19:23,060 --> 00:19:26,540 S1: but that doesn't mean, you know, the deceased owned 100%. 343 00:19:26,540 --> 00:19:30,140 S1: So even if his will said everything goes to the kids, 344 00:19:30,460 --> 00:19:33,379 S1: he could only give his half of the marital assets. 345 00:19:33,380 --> 00:19:37,740 S1: Your half was already yours and, you know, didn't pass 346 00:19:37,859 --> 00:19:41,780 S1: through the will, potentially. And if that's the case, um, 347 00:19:41,780 --> 00:19:45,340 S1: if it was a marital asset, then you know his 50% 348 00:19:45,340 --> 00:19:47,939 S1: would have passed to the children. Your 50% would have 349 00:19:47,940 --> 00:19:52,179 S1: remained yours. Uh, that's likely the way it is. Uh, 350 00:19:52,180 --> 00:19:55,419 S1: because it's a common law state. And then his the 351 00:19:55,420 --> 00:19:57,780 S1: portion that went to the kids, they would have received 352 00:19:57,900 --> 00:20:01,340 S1: the stepped up basis. Um, but again, that's where you're 353 00:20:01,340 --> 00:20:03,580 S1: going to need to sort it out in terms of 354 00:20:03,580 --> 00:20:06,340 S1: where you go from here on. Uh, you know, how 355 00:20:06,340 --> 00:20:09,540 S1: you liquidate it, regardless of how the the tax portion 356 00:20:09,540 --> 00:20:13,020 S1: gets sorted out based on, you know, the, the, you know, 357 00:20:13,020 --> 00:20:17,420 S1: the estate, um, and how that was handled through probate. Um, 358 00:20:17,740 --> 00:20:20,620 S1: you really want to think about these, you know, these 359 00:20:20,619 --> 00:20:24,699 S1: are going to be, uh, in terms of best practices. 360 00:20:24,859 --> 00:20:27,980 S1: You're going to want to have a good inventory of 361 00:20:28,180 --> 00:20:31,100 S1: everything you've got. So you'd list each coin, the type, 362 00:20:31,100 --> 00:20:34,419 S1: the quantity. You're going to want to get multiple valuations. 363 00:20:34,420 --> 00:20:36,180 S1: So you never want to sell to the first buyer. 364 00:20:36,180 --> 00:20:37,900 S1: You're going to want to probably get 2 to 3 365 00:20:37,900 --> 00:20:44,859 S1: quotes from reputable local coin dealers or well-known national dealers. Um, 366 00:20:44,859 --> 00:20:46,940 S1: you want to avoid shops that, you know, say we 367 00:20:46,940 --> 00:20:50,060 S1: buy gold or something like that and read a lot 368 00:20:50,100 --> 00:20:53,860 S1: of reviews, and then you want to kind of match 369 00:20:53,859 --> 00:20:57,139 S1: the selling method to the coin type. So, you know, 370 00:20:57,180 --> 00:21:01,060 S1: if it's, uh, rare or collectible coin, an auction house 371 00:21:01,060 --> 00:21:04,859 S1: may get more, um, you know, than, uh, you know, 372 00:21:04,900 --> 00:21:07,940 S1: another like a, just a dealer. And you may want 373 00:21:07,980 --> 00:21:10,980 S1: to sell gradually if needed. You don't have to sell 374 00:21:10,980 --> 00:21:14,340 S1: it all at once, especially given what you uncover about 375 00:21:14,340 --> 00:21:17,340 S1: the tax implications. So I think you want to talk 376 00:21:17,340 --> 00:21:20,060 S1: to your CPA and try to sort out now the 377 00:21:20,060 --> 00:21:23,820 S1: ownership structure and then the potential taxes so that doesn't 378 00:21:23,820 --> 00:21:28,379 S1: catch you by surprise. And then start doing some research on, 379 00:21:28,500 --> 00:21:32,620 S1: you know, local, uh, coin dealers or auction houses that 380 00:21:32,619 --> 00:21:36,220 S1: get good reviews that could potentially help you liquidate these. 381 00:21:36,260 --> 00:21:38,700 S1: And I think those are the next steps from here. Mary. 382 00:21:38,700 --> 00:21:40,890 S1: I hope that helps. Thanks for calling. We'll be right 383 00:21:40,890 --> 00:21:49,490 S1: back on faith and finance live. Great to have you 384 00:21:49,490 --> 00:21:51,570 S1: with us today on Faith and Finance Live. Coming up 385 00:21:51,570 --> 00:21:54,170 S1: in the next segment, Bob Dole stops by. The market's 386 00:21:54,170 --> 00:21:57,689 S1: down pretty big today. Nearly 900 points on the Dow. 387 00:21:58,090 --> 00:22:03,250 S1: That's 1.75% down the S&P 500 off about 150 points. 388 00:22:03,250 --> 00:22:06,530 S1: That's over 2% lower than Nasdaq. Even more than that 389 00:22:06,530 --> 00:22:10,370 S1: percentage wise. All of this on the heels of President 390 00:22:10,410 --> 00:22:15,210 S1: Trump stoking the possibility of a global trade war over 391 00:22:15,250 --> 00:22:19,610 S1: Greenland and the threat of more European Union tariffs, we'll 392 00:22:19,609 --> 00:22:22,290 S1: get Bob's take on that. And whether there's something here 393 00:22:22,290 --> 00:22:26,610 S1: that could result in a sell America trade that would 394 00:22:26,609 --> 00:22:30,610 S1: affect the US dollar, treasuries, gold prices and a host 395 00:22:30,609 --> 00:22:33,490 S1: of other things. Uh, we'll get more information on that 396 00:22:33,490 --> 00:22:35,970 S1: straight ahead. In the meantime, we're taking your calls and 397 00:22:35,970 --> 00:22:41,570 S1: questions 800 525 7000. Let's go to Rome, Georgia. Pat. 398 00:22:41,570 --> 00:22:42,129 S1: Go ahead. 399 00:22:42,609 --> 00:22:46,090 S6: Yes. Um, I have a daughter who's been granddaughter. I'm sorry, 400 00:22:46,130 --> 00:22:49,410 S6: who's been accepted into medical school will be starting this 401 00:22:49,410 --> 00:22:55,770 S6: coming summer. And the, um, tuition cap now for student 402 00:22:55,770 --> 00:22:59,850 S6: loans is at $50,000. I understand her tuition is going 403 00:22:59,850 --> 00:23:02,570 S6: to be somewhere in the low 40s. And that will 404 00:23:02,570 --> 00:23:07,730 S6: not leave her enough money to live on their requested 405 00:23:07,730 --> 00:23:12,730 S6: not to work a job during this time. And she. 406 00:23:12,770 --> 00:23:15,850 S6: I have bought her a house that's paid for, and 407 00:23:15,850 --> 00:23:19,410 S6: I'm wondering if it if it would be a decent 408 00:23:19,410 --> 00:23:23,649 S6: idea to get a HELOC on that house to help 409 00:23:23,650 --> 00:23:29,050 S6: her with tuition. Um, and the house is rented and 410 00:23:29,050 --> 00:23:33,370 S6: let the rent from the house pay for the payment 411 00:23:33,369 --> 00:23:37,450 S6: on that HELOC to help her with her tuition, and 412 00:23:37,450 --> 00:23:39,410 S6: so that she won't be in so much debt when 413 00:23:39,410 --> 00:23:41,409 S6: she's out and won't have to go to private loans. 414 00:23:41,450 --> 00:23:44,250 S6: What's your opinion? Am I missing something that would be 415 00:23:44,250 --> 00:23:45,850 S6: detrimental to either of us? 416 00:23:46,369 --> 00:23:49,490 S1: Hmm. Yeah, yeah. You just want to be careful with 417 00:23:49,490 --> 00:23:53,290 S1: a HELOC. Um. And what, uh, what would you use, uh, 418 00:23:53,290 --> 00:23:57,410 S1: to to cover that? Um, would the rental income be 419 00:23:57,410 --> 00:23:59,130 S1: enough to service that debt? 420 00:23:59,650 --> 00:24:03,170 S6: If it doesn't, I could, um, I could help with 421 00:24:03,170 --> 00:24:05,770 S6: a few hundred dollars a month, but not with a 422 00:24:05,770 --> 00:24:08,250 S6: great deal. We were hoping that we could get, uh, 423 00:24:08,250 --> 00:24:11,409 S6: that the rent would cover the payment on that. 424 00:24:11,450 --> 00:24:14,689 S1: Yeah, yeah, the problem is, if they. It stays fully 425 00:24:14,690 --> 00:24:18,370 S1: rented and everything's working according to plan, then everything's okay. 426 00:24:18,369 --> 00:24:21,050 S1: It's just the. We've got to think about the unexpected. 427 00:24:21,050 --> 00:24:23,730 S1: So let's say the economy were to take a dip. 428 00:24:23,730 --> 00:24:27,010 S1: Let's say that your renter unexpectedly moves out and you 429 00:24:27,010 --> 00:24:29,770 S1: have trouble filling it. You know, I wouldn't want to 430 00:24:29,770 --> 00:24:33,250 S1: put the home in jeopardy because she has no income 431 00:24:33,250 --> 00:24:36,410 S1: for sure. And, you know, you can supplement it, but 432 00:24:36,410 --> 00:24:38,840 S1: you taking it on for an extended period of time 433 00:24:38,840 --> 00:24:41,560 S1: would really harm you financially, right? 434 00:24:43,160 --> 00:24:46,960 S6: I could take it on. I would rather not. But, 435 00:24:47,320 --> 00:24:50,000 S6: you know, rather than lose it, I could do that. 436 00:24:50,320 --> 00:24:54,120 S1: Yeah. Okay. Yeah. I mean, there are new, uh, starting 437 00:24:54,119 --> 00:24:58,919 S1: July 1st of this year, new, uh, annual and lifetime caps. Um, 438 00:24:59,480 --> 00:25:03,520 S1: my understanding is that the professional programs like medical school 439 00:25:03,520 --> 00:25:07,760 S1: have an annual cap of 50,000, but the total lifetime 440 00:25:07,760 --> 00:25:13,080 S1: cap is about 200,000. Um, and that's for direct loans. 441 00:25:13,080 --> 00:25:16,080 S1: So it depends on the degree type and the and 442 00:25:16,080 --> 00:25:18,920 S1: any prior borrowing. But would that change things if that 443 00:25:18,920 --> 00:25:21,040 S1: 50,000 was annual only? 444 00:25:22,320 --> 00:25:24,879 S6: Um, I just don't think she's going to be able 445 00:25:24,880 --> 00:25:28,120 S6: to live on that 50,000 annually. 446 00:25:28,640 --> 00:25:32,160 S1: Yeah, yeah. Okay. Because the other option is rather than, 447 00:25:32,240 --> 00:25:35,240 S1: you know, if she could get enough to cover school. 448 00:25:35,240 --> 00:25:37,760 S1: And I realized we don't we don't love to borrow. But, 449 00:25:38,400 --> 00:25:40,480 S1: you know, hopefully there's a job waiting on the other 450 00:25:40,480 --> 00:25:42,159 S1: end that would allow her to repay this in a 451 00:25:42,160 --> 00:25:45,720 S1: reasonable period of time. But if that rental income that's 452 00:25:45,720 --> 00:25:48,800 S1: being thrown off, that because you don't take out any 453 00:25:48,800 --> 00:25:52,080 S1: kind of loan against it is enough to cover her, 454 00:25:52,359 --> 00:25:55,520 S1: you know, basic needs. And we could fund, you know, 455 00:25:55,560 --> 00:25:59,280 S1: her the cost of, uh, of tuition, you know, room 456 00:25:59,280 --> 00:26:02,760 S1: and board through loans. And she has the ability to 457 00:26:02,800 --> 00:26:05,600 S1: do 50,000 a year. You know, that might be a 458 00:26:05,600 --> 00:26:09,000 S1: better option, because now 100% of that money coming off 459 00:26:09,000 --> 00:26:12,160 S1: of the, uh, the rental property, plus whatever you might 460 00:26:12,160 --> 00:26:14,600 S1: be able to add to it, might allow her to 461 00:26:14,800 --> 00:26:17,360 S1: kind of make all of this work, uh, to not 462 00:26:17,359 --> 00:26:21,120 S1: only cover the tuition, but also her living expenses alongside that. 463 00:26:21,640 --> 00:26:23,320 S6: Yeah. And that's what we were getting at was to 464 00:26:23,320 --> 00:26:25,440 S6: be able to cover her living expenses. 465 00:26:25,840 --> 00:26:29,240 S1: Yeah. Yeah. What what is that, uh, rental home throwing 466 00:26:29,240 --> 00:26:32,720 S1: off each month after you service the property taxes and 467 00:26:32,720 --> 00:26:35,840 S1: insurance and any kind of maintenance or reserves you need 468 00:26:35,840 --> 00:26:41,399 S1: to set aside about $1,000. Okay. And what are her needs? 469 00:26:41,440 --> 00:26:45,359 S1: I mean, does the does her tuition cover room and board, 470 00:26:45,359 --> 00:26:47,040 S1: or would she be living at home or what is 471 00:26:47,040 --> 00:26:47,560 S1: she doing? 472 00:26:48,320 --> 00:26:52,480 S6: No. She will. She will be living, um, on her 473 00:26:52,520 --> 00:26:56,440 S6: own in an apartment in the area. She'll be living there. 474 00:26:56,840 --> 00:26:59,560 S1: Got it. Yeah. Uh, and what is the. 475 00:26:59,600 --> 00:27:04,080 S6: The tuition appears to be about $1,200 a month. We've 476 00:27:04,080 --> 00:27:07,200 S6: checked in to just, you know, what was available. And 477 00:27:07,200 --> 00:27:10,200 S6: it looks like the rent, $1,200 a month would be 478 00:27:10,200 --> 00:27:14,920 S6: an average, uh, rental property there. And her tuition will 479 00:27:14,920 --> 00:27:17,200 S6: be a little over 40,000 a year. 480 00:27:17,760 --> 00:27:21,480 S1: Okay. Yeah. So, perhaps, you know, if she were able 481 00:27:21,480 --> 00:27:24,120 S1: to borrow up to 50, that would fund, you know, 482 00:27:24,160 --> 00:27:27,639 S1: not only tuition and fees, but perhaps, you know, could 483 00:27:27,640 --> 00:27:30,639 S1: provide a little bit extra there. And, you know, if 484 00:27:30,640 --> 00:27:32,399 S1: she could throw off a thousand a month if you 485 00:27:32,400 --> 00:27:35,480 S1: were going to supplement it anyway to cover the the 486 00:27:35,520 --> 00:27:37,919 S1: home equity line of credit. Maybe you supplement it just 487 00:27:37,920 --> 00:27:41,080 S1: to help her cover her expenses. You know, maybe she 488 00:27:41,080 --> 00:27:43,359 S1: gets a job in the summer or she's, you know, 489 00:27:43,400 --> 00:27:45,840 S1: getting some part time work on campus. I realize that's 490 00:27:45,840 --> 00:27:48,800 S1: not ideal when she's in medical school, but I, I 491 00:27:48,840 --> 00:27:50,960 S1: think if we could do this without debt, that would 492 00:27:50,960 --> 00:27:54,960 S1: be better at least debt on that, that property. And, um, 493 00:27:55,000 --> 00:27:58,080 S1: you know, that that could be a better solution because 494 00:27:58,080 --> 00:28:02,080 S1: then we don't have a good bit of that going, uh, toward, uh, 495 00:28:02,080 --> 00:28:05,040 S1: interest every month. And we're able, you know, once we 496 00:28:05,040 --> 00:28:07,240 S1: pay the taxes on it, if there are any. And 497 00:28:07,240 --> 00:28:11,200 S1: she can offset expenses against that. Um, you know, then 498 00:28:11,200 --> 00:28:14,439 S1: we get 100% of what's left, uh, plus whatever you 499 00:28:14,440 --> 00:28:16,680 S1: might be able to help and add to it, uh, 500 00:28:16,680 --> 00:28:18,760 S1: to be able to have her, you know, cover her 501 00:28:18,760 --> 00:28:22,639 S1: bare expenses and just really stay focused on school. And 502 00:28:22,640 --> 00:28:25,520 S1: if she could get loans to cover each year of 503 00:28:25,560 --> 00:28:28,639 S1: the whatever it is, maybe three years more. Um, you know, 504 00:28:28,680 --> 00:28:31,800 S1: it seems like the, the lifetime limits would allow her 505 00:28:31,920 --> 00:28:34,830 S1: to get what she needs, which might be more like 506 00:28:35,030 --> 00:28:36,670 S1: 150,000 or so. 507 00:28:37,230 --> 00:28:40,070 S6: Okay. All right, all right. Thank you so much. I 508 00:28:40,070 --> 00:28:41,230 S6: appreciate your help. 509 00:28:41,390 --> 00:28:43,470 S1: You're welcome. I think the next step is to build 510 00:28:43,470 --> 00:28:45,670 S1: a budget. And if you need some help with that, 511 00:28:45,670 --> 00:28:48,590 S1: we'd be happy to provide a certified Christian financial counselor 512 00:28:48,590 --> 00:28:50,430 S1: just to kind of walk through the numbers with you. 513 00:28:50,430 --> 00:28:52,550 S1: And maybe the three of you work together to put 514 00:28:52,550 --> 00:28:53,950 S1: a plan. Would that be helpful? 515 00:28:54,510 --> 00:28:55,270 S6: It might be. 516 00:28:55,790 --> 00:28:57,950 S1: Okay, let's do this. Pat, you stay on the line. 517 00:28:57,950 --> 00:28:59,790 S1: My team will get your information. There's not going to 518 00:28:59,790 --> 00:29:02,070 S1: be any charge for this. Just our gift to you. 519 00:29:02,110 --> 00:29:05,110 S1: We'll get a certified Christian financial counselor in touch with you. 520 00:29:05,110 --> 00:29:07,270 S1: And I think the three of you working together could 521 00:29:07,310 --> 00:29:09,310 S1: maybe come up with a budget and feel a whole 522 00:29:09,310 --> 00:29:11,910 S1: lot better that you've got a plan that will ultimately work. 523 00:29:11,910 --> 00:29:14,790 S1: So stay on the line and we'll we'll be happy 524 00:29:14,790 --> 00:29:18,030 S1: to help. Thanks for calling. Atlanta, Georgia. Amber. Go ahead. 525 00:29:18,270 --> 00:29:23,630 S7: Hi. Um, I am trying to, uh, build my or 526 00:29:23,630 --> 00:29:29,270 S7: improve my credit score without accumulating credit card debt. Um, 527 00:29:29,310 --> 00:29:32,350 S7: a few years ago, I had really good credit score. 528 00:29:32,390 --> 00:29:35,390 S7: My husband had a had to have a surgery that 529 00:29:35,390 --> 00:29:40,110 S7: was couldn't plan for, and I had to let go 530 00:29:40,110 --> 00:29:43,110 S7: of some credit cards. I'm paying on them, like through 531 00:29:43,110 --> 00:29:47,590 S7: a hardship. But because of that it my credit score 532 00:29:47,590 --> 00:29:51,310 S7: went down. And you know, if you go shopping for 533 00:29:51,310 --> 00:29:55,270 S7: car insurance or they look at your credit score. So 534 00:29:55,310 --> 00:29:59,110 S7: I didn't know what other options instead of trying to go, 535 00:29:59,310 --> 00:30:02,150 S7: you know, back into debt, which I don't want to do. 536 00:30:03,030 --> 00:30:05,950 S1: Yeah, I think the question is whether you just want to, 537 00:30:06,150 --> 00:30:09,430 S1: you know, make sure you're concerned that if you have 538 00:30:09,430 --> 00:30:11,390 S1: access to it, you might use it for the wrong 539 00:30:11,390 --> 00:30:15,630 S1: purposes versus, you know, you making sure that you're only 540 00:30:15,630 --> 00:30:18,310 S1: using it for budgeted items. I mean, the quickest way 541 00:30:18,310 --> 00:30:21,030 S1: to rebuild that is to have a credit card, even 542 00:30:21,030 --> 00:30:23,830 S1: a secured credit card, and just put a budget at 543 00:30:23,830 --> 00:30:26,230 S1: item even 12 or $15 a month and then pay 544 00:30:26,230 --> 00:30:28,590 S1: it off. Let's do this. I've got to take a break. 545 00:30:28,590 --> 00:30:30,630 S1: We'll talk about a strategy right on the other side. 546 00:30:30,630 --> 00:30:38,310 S1: Stay right there. Great to have you with us today 547 00:30:38,310 --> 00:30:40,310 S1: on faith and finance. Live in just a moment. Bob 548 00:30:40,350 --> 00:30:42,790 S1: Dole is here. We'll get his take on these roller 549 00:30:42,790 --> 00:30:46,270 S1: coaster markets today. But first, Amber is in Atlanta. She's 550 00:30:46,270 --> 00:30:49,510 S1: looking to build her credit score if possible, without using 551 00:30:49,510 --> 00:30:52,150 S1: credit cards. They she and her husband had gotten into 552 00:30:52,190 --> 00:30:55,750 S1: a tough spot using credit cards in the past. And 553 00:30:55,750 --> 00:30:58,750 S1: what I would say is, Amber, it is possible to 554 00:30:58,790 --> 00:31:01,070 S1: build your credit score and even get one up into 555 00:31:01,070 --> 00:31:04,430 S1: the 700 seconds without a credit card, but that credit 556 00:31:04,430 --> 00:31:07,510 S1: growth is going to be slower, and you don't need 557 00:31:07,510 --> 00:31:11,190 S1: an 800 plus score to live well and qualify even 558 00:31:11,190 --> 00:31:14,390 S1: for the best rates and terms. I mean, the the 559 00:31:14,390 --> 00:31:16,510 S1: easiest and quickest way to do it would be to 560 00:31:16,550 --> 00:31:20,710 S1: get either a secured or unsecured credit card secured, meaning 561 00:31:20,710 --> 00:31:23,190 S1: you put a certain amount on deposit and then you 562 00:31:23,230 --> 00:31:26,190 S1: borrow against it. But there's no risk there for the 563 00:31:26,230 --> 00:31:29,989 S1: bank or you to overspend, because the only what you 564 00:31:29,990 --> 00:31:32,660 S1: can borrow is limited by what's on deposit, and if 565 00:31:32,700 --> 00:31:34,979 S1: you ever didn't pay it back, they would just grab 566 00:31:34,980 --> 00:31:36,820 S1: the money out of the account and it'd be paid 567 00:31:36,820 --> 00:31:39,380 S1: in full. The key is you could use it each 568 00:31:39,380 --> 00:31:41,940 S1: month for a budgeted item. Let's say you had a 569 00:31:41,940 --> 00:31:46,060 S1: subscription or just a small recurring charge. That was something 570 00:31:46,060 --> 00:31:48,940 S1: you were planning for. It hits that account. It gets 571 00:31:48,940 --> 00:31:51,740 S1: reported to the credit bureau. You pay it off in full. 572 00:31:51,740 --> 00:31:54,460 S1: You don't pay a dime of interest, whether it's secured 573 00:31:54,460 --> 00:31:58,140 S1: or unsecured. And, you know, now you're you're having this 574 00:31:58,140 --> 00:32:02,140 S1: monthly recurring activity of a revolving account. You know, that's 575 00:32:02,140 --> 00:32:05,940 S1: really helpful. But if you just from a conviction standpoint, 576 00:32:05,940 --> 00:32:08,940 S1: want to stay away from credit cards altogether, then the 577 00:32:08,940 --> 00:32:11,340 S1: other options would be, you know, if you have a mortgage, 578 00:32:11,380 --> 00:32:14,580 S1: obviously that's being reported. If you're renting, you could look 579 00:32:14,580 --> 00:32:19,940 S1: at one of the services that reports rental activity to 580 00:32:19,980 --> 00:32:23,140 S1: your credit bureau. Um, you know, so that would be 581 00:32:23,140 --> 00:32:27,540 S1: something like Experian Boost, which is a new program from Experian, 582 00:32:27,540 --> 00:32:30,860 S1: one of the three major credit bureaus would probably be 583 00:32:30,860 --> 00:32:35,220 S1: the easiest. It's free. And through bank account verification, they 584 00:32:35,220 --> 00:32:38,660 S1: would automatically report your rent. You could look at something 585 00:32:38,660 --> 00:32:42,340 S1: called a credit builder loan, which is offered typically by 586 00:32:42,340 --> 00:32:45,580 S1: credit unions. But essentially you take out a loan of 587 00:32:45,580 --> 00:32:49,580 S1: 500 to $1000. The payments are reported monthly. And then 588 00:32:49,580 --> 00:32:52,940 S1: after the, uh, you know, you get the money after 589 00:32:52,940 --> 00:32:55,980 S1: the loan is paid off. But it's essentially a very 590 00:32:55,980 --> 00:33:01,780 S1: effective strategy solely for the purpose of building payment history. And, 591 00:33:01,820 --> 00:33:05,700 S1: you know, building your credit file without the temptation to overspend. 592 00:33:05,740 --> 00:33:07,980 S1: But give me your thoughts on those ideas. 593 00:33:08,500 --> 00:33:13,260 S7: Uh, yeah. Well, our our home is paid off. Okay. Um, 594 00:33:13,260 --> 00:33:17,660 S7: so could I would it be a bad idea to actually, um, 595 00:33:18,540 --> 00:33:22,820 S7: borrow a little bit, like, maybe 10,000 or. I don't 596 00:33:22,820 --> 00:33:25,660 S7: even want to go that high, like 5000 against it. 597 00:33:26,100 --> 00:33:29,580 S1: I wouldn't do that. No. Just because that would involve 598 00:33:29,620 --> 00:33:31,500 S1: a cost to you. I mean, there would be the 599 00:33:31,500 --> 00:33:34,820 S1: cost of the loan itself, first of all. Second of all, 600 00:33:35,020 --> 00:33:36,900 S1: you know, when it comes to home equity, nobody wants 601 00:33:36,900 --> 00:33:40,340 S1: to lend 5000. They want to lend 50 or 100,000. 602 00:33:40,660 --> 00:33:44,020 S1: And and then you are paying real interest. Whereas with 603 00:33:44,020 --> 00:33:47,260 S1: a credit builder loan, it's for the purpose of building 604 00:33:47,260 --> 00:33:51,340 S1: your credit. It's not collateralized by your house, but you 605 00:33:51,340 --> 00:33:54,540 S1: get all the money back in the end essentially. So 606 00:33:54,580 --> 00:33:58,500 S1: I would prefer that as a first option. Second option 607 00:33:58,500 --> 00:34:01,780 S1: would be maybe a secured credit card, where again you're 608 00:34:01,780 --> 00:34:04,459 S1: taking out a credit card. You're using it for a 609 00:34:04,460 --> 00:34:07,460 S1: recurring budgeted item every month. You're paying it in full. 610 00:34:07,700 --> 00:34:10,780 S1: Therefore you're not paying any interest. And there's no risk 611 00:34:10,780 --> 00:34:13,620 S1: of you all going into debt. Because, again, even in 612 00:34:13,620 --> 00:34:15,940 S1: the worst case scenario where you didn't have the money 613 00:34:16,020 --> 00:34:19,140 S1: to pay the the small recurring charge, the money's already 614 00:34:19,140 --> 00:34:23,820 S1: on deposit. But what you're looking for is current and 615 00:34:23,820 --> 00:34:28,140 S1: active on time payments being reported to your credit file. 616 00:34:28,140 --> 00:34:31,649 S1: That's going to improve your score the quickest. It's the 617 00:34:31,650 --> 00:34:33,850 S1: lack of credit that's going to hurt you at this 618 00:34:33,850 --> 00:34:36,049 S1: point because you don't have a mortgage. That's good, but 619 00:34:36,050 --> 00:34:38,690 S1: it just doesn't help your credit. And the fact that 620 00:34:38,690 --> 00:34:41,730 S1: you don't have any other accounts open, your lack of 621 00:34:41,730 --> 00:34:43,930 S1: credit is really what's going to work against you. 622 00:34:43,969 --> 00:34:46,850 S7: Okay. All right. So the credit builder loan, is that 623 00:34:46,850 --> 00:34:52,370 S7: through a, um, um, a credit union or to get that. Yeah. 624 00:34:52,770 --> 00:34:56,170 S1: Typically, I mean, you could do a, just a search 625 00:34:56,330 --> 00:34:58,529 S1: for credit builder loan. And what you're going to find 626 00:34:58,570 --> 00:35:02,129 S1: is a lot of credit unions are offering these loans, 627 00:35:02,330 --> 00:35:04,410 S1: and you could read about them, you could even do a, 628 00:35:04,450 --> 00:35:07,569 S1: you know, some research on bank rate or NerdWallet. Find 629 00:35:07,570 --> 00:35:10,090 S1: out which is the best one for you. But yes, 630 00:35:10,090 --> 00:35:13,730 S1: generally they're offered by credit unions. And then the second 631 00:35:13,730 --> 00:35:16,770 S1: option would be, uh, you could go to NerdWallet or 632 00:35:16,770 --> 00:35:20,489 S1: Bankrate and just compare all of the, uh, you know, 633 00:35:20,530 --> 00:35:24,170 S1: what are called secured credit cards, which, again, is a 634 00:35:24,170 --> 00:35:27,210 S1: form of a credit card, but it's not unsecured where 635 00:35:27,210 --> 00:35:31,009 S1: they give you a line of credit. Um, it's secured 636 00:35:31,010 --> 00:35:34,850 S1: by a certain amount you put on deposit with a bank. Uh, 637 00:35:34,850 --> 00:35:38,130 S1: bank of America offers them capital one, offers them us 638 00:35:38,130 --> 00:35:42,089 S1: bank offers them all the big bureaus offer them. But 639 00:35:42,090 --> 00:35:45,970 S1: there's no risk to you or them, because whatever limit 640 00:35:45,969 --> 00:35:49,530 S1: is available on the card is backed by an amount 641 00:35:49,530 --> 00:35:52,890 S1: on deposit. So again, you can use it every month. 642 00:35:52,930 --> 00:35:56,890 S1: Pay it off. There's no risk to you. And now 643 00:35:56,890 --> 00:35:59,089 S1: you're building your credit because it's being reported to your 644 00:35:59,090 --> 00:35:59,890 S1: credit file. 645 00:35:59,930 --> 00:36:03,890 S7: Okay. All right. I think that that way sounds good. 646 00:36:03,890 --> 00:36:05,210 S7: I really appreciate it. 647 00:36:05,210 --> 00:36:07,890 S1: Absolutely. Thanks for your call today. Lord bless you. Well, 648 00:36:07,930 --> 00:36:10,330 S1: Bob Dole is here. And in our final segment, uh, 649 00:36:10,330 --> 00:36:12,330 S1: he's going to weigh in on these markets. Well, Bob, 650 00:36:12,370 --> 00:36:15,210 S1: a pretty big sell off today. The Dow off, uh, 651 00:36:15,410 --> 00:36:18,930 S1: nearly 900 points. S&P down more than 2%. So it 652 00:36:18,930 --> 00:36:22,770 S1: sounds like we accelerated into the close. Give us an 653 00:36:22,770 --> 00:36:26,770 S1: update on where things stand with this sell America trade. 654 00:36:27,330 --> 00:36:30,529 S8: Yes. We closed basically at the lows for all the averages. 655 00:36:30,530 --> 00:36:35,170 S8: Rob is. Uh uh uh uh, spit out all they 656 00:36:35,170 --> 00:36:37,770 S8: could when it comes to, uh, their holdings in the, 657 00:36:37,810 --> 00:36:41,170 S8: in the US. The sell America trade you referred to 658 00:36:41,210 --> 00:36:46,089 S8: has everything to do with, uh, international investors, non-U.S. investors 659 00:36:46,090 --> 00:36:47,650 S8: saying I don't want anything to do with the US. 660 00:36:47,690 --> 00:36:51,370 S8: They're playing hardball when it comes to to Greenland. Uh, 661 00:36:51,370 --> 00:36:55,090 S8: what's that going to mean for the European Union? And therefore, 662 00:36:55,090 --> 00:36:57,009 S8: I'm going to sell some stocks. I'm going to sell 663 00:36:57,010 --> 00:37:00,330 S8: some bonds, I'm going to sell the dollar. And so 664 00:37:00,370 --> 00:37:02,730 S8: everything went down. That's, uh, us today. 665 00:37:02,770 --> 00:37:05,569 S1: Yeah. No doubt about it. Uh, Bob, are there long 666 00:37:05,610 --> 00:37:08,489 S1: term implications to this? I mean, you know, we saw 667 00:37:08,489 --> 00:37:11,210 S1: some saber rattling when the tariffs came and then everybody 668 00:37:11,210 --> 00:37:13,569 S1: made nice. And we ended up with a pretty good 669 00:37:13,570 --> 00:37:17,410 S1: deal out of Europe. Is this time different as they 670 00:37:17,770 --> 00:37:20,569 S1: perhaps start to think, wait a minute, I thought we 671 00:37:20,570 --> 00:37:22,650 S1: had a deal. And if this happens every time the 672 00:37:22,650 --> 00:37:25,330 S1: US wants something, maybe we do need to forge some 673 00:37:25,330 --> 00:37:26,290 S1: other paths. 674 00:37:26,330 --> 00:37:29,370 S8: Yeah, that's the risk here. You can't, uh, can't keep 675 00:37:29,410 --> 00:37:34,529 S8: crying wolf and then expect everybody to operate as normal. Um, 676 00:37:34,850 --> 00:37:37,690 S8: the cooler minds would hope that this is going to 677 00:37:37,690 --> 00:37:41,570 S8: go away. That is that the president, uh, stops, um, 678 00:37:41,770 --> 00:37:46,930 S8: threatening either, uh, God forbid, military action or some other 679 00:37:46,930 --> 00:37:51,770 S8: way to jawbone to to to get Greenland. Greenland's basically 680 00:37:51,770 --> 00:37:53,810 S8: giving us a red carpet and saying, if you want 681 00:37:53,810 --> 00:37:56,650 S8: more bases here, as you had in the past, just 682 00:37:56,650 --> 00:37:59,969 S8: come and build them. We'll we'll make that work. Uh, 683 00:37:59,969 --> 00:38:03,129 S8: we're hoping cooler heads will lead to that solution, and 684 00:38:03,130 --> 00:38:06,690 S8: we won't have these long term concerns about what the 685 00:38:06,730 --> 00:38:09,890 S8: US really thinking if that happens. Rob. Uh, there's more 686 00:38:09,890 --> 00:38:10,690 S8: selling to come. 687 00:38:10,730 --> 00:38:13,529 S1: Yeah, no doubt about it, Bob. What about just the 688 00:38:13,530 --> 00:38:16,649 S1: rest of the overall economy? Are you pleased with how 689 00:38:16,650 --> 00:38:17,650 S1: we're starting the year? 690 00:38:18,570 --> 00:38:20,850 S8: Yeah, it's still early, so not a lot of statistics, 691 00:38:20,850 --> 00:38:23,850 S8: but what we've seen is good. Uh, earnings by and 692 00:38:23,850 --> 00:38:26,920 S8: large for the fourth quarter are good outlooks for the 693 00:38:27,080 --> 00:38:29,920 S8: the new year and most importantly for the economy is 694 00:38:29,920 --> 00:38:34,400 S8: the one big beautiful bill started essentially on January 1st. 695 00:38:34,400 --> 00:38:37,280 S8: And that's going to lead to a lower tax rates, 696 00:38:37,280 --> 00:38:41,799 S8: bigger refunds, and that should provide some firepower for consumption 697 00:38:41,800 --> 00:38:42,719 S8: for consumers. 698 00:38:43,080 --> 00:38:45,480 S1: Yeah. And when will we start getting the first read 699 00:38:45,480 --> 00:38:46,880 S1: on corporate earnings. 700 00:38:47,840 --> 00:38:52,200 S8: We're already already there. We're probably a little less than 10% 701 00:38:52,200 --> 00:38:54,719 S8: of the way through earnings. The banks have reported they 702 00:38:54,719 --> 00:38:57,560 S8: were generally good earnings. We're starting to see some of 703 00:38:57,560 --> 00:39:01,360 S8: the industrial companies report and by and large good news. 704 00:39:01,360 --> 00:39:05,560 S8: The expectations were not ridiculously high. So meeting them or 705 00:39:05,560 --> 00:39:08,640 S8: exceeding them is proving to be doable. 706 00:39:09,040 --> 00:39:12,279 S1: Yeah. Uh, Bob, we're set to hear any time now, 707 00:39:12,280 --> 00:39:15,080 S1: I guess, uh, what the Supreme Court will say about 708 00:39:15,080 --> 00:39:17,719 S1: the tariffs. How much of a risk is that in 709 00:39:17,719 --> 00:39:20,640 S1: terms of a disruption to not only the global markets, 710 00:39:20,640 --> 00:39:21,920 S1: but here in the United States? 711 00:39:22,360 --> 00:39:25,359 S8: Yeah. Great question. Given the skittishness of the markets, it 712 00:39:25,360 --> 00:39:28,000 S8: probably would not be good news if the Supreme Court 713 00:39:28,000 --> 00:39:31,000 S8: said that no, you can't do this. Having said that, 714 00:39:31,000 --> 00:39:34,120 S8: Secretary Bessen and others have said there are other ways 715 00:39:34,120 --> 00:39:37,359 S8: to handle this. So should the Supreme Court say no way, 716 00:39:37,360 --> 00:39:40,719 S8: no how? There are other mechanisms whereby most of these 717 00:39:40,719 --> 00:39:41,960 S8: tariffs can continue. 718 00:39:42,000 --> 00:39:45,040 S1: All right. And then finally, Bob, you know, gold up 719 00:39:45,040 --> 00:39:47,439 S1: again today. Where do you think gold heads this year 720 00:39:47,440 --> 00:39:49,440 S1: after that record year last year. 721 00:39:49,480 --> 00:39:52,839 S8: Yeah. Good question. Most likely at least for now higher. 722 00:39:53,320 --> 00:39:57,439 S8: When you get these flag pole moves on almost anything 723 00:39:57,480 --> 00:40:01,080 S8: you get more volatility in both directions. We saw, as 724 00:40:01,080 --> 00:40:04,960 S8: you recall up six, eight, ten weeks ago pretty nasty 725 00:40:05,000 --> 00:40:07,520 S8: correction in gold. But then it came right on back. 726 00:40:07,560 --> 00:40:09,279 S8: I think we'll have some more of those sell offs. 727 00:40:09,280 --> 00:40:11,120 S8: But I don't think we've seen the high yet either. 728 00:40:11,600 --> 00:40:13,960 S1: All right my friend we appreciate your time as always. 729 00:40:13,960 --> 00:40:14,800 S8: Have a good week. 730 00:40:15,160 --> 00:40:18,680 S1: All right. That's Bob Dole. He's chief investment officer at 731 00:40:18,680 --> 00:40:22,680 S1: Crossmark Global Investments. He also serves as CEO there if 732 00:40:22,719 --> 00:40:26,359 S1: you'd like to check out Crossmark global, perhaps sign up 733 00:40:26,360 --> 00:40:30,640 S1: to receive his weekly investment commentary dolls deliberations, just head 734 00:40:30,640 --> 00:40:36,600 S1: over to Crossmark Global.com. That's Crossmark global. Well, folks, delighted 735 00:40:36,600 --> 00:40:39,440 S1: to have you along today. We covered a lot of ground, uh, 736 00:40:39,440 --> 00:40:41,480 S1: dealt with a lot of great topics. You know, at 737 00:40:41,480 --> 00:40:43,080 S1: the end of the day, what we want to do 738 00:40:43,080 --> 00:40:46,000 S1: is help you live as a wise and faithful steward. 739 00:40:46,239 --> 00:40:51,160 S1: That means we understand, really, the foundations to managing money 740 00:40:51,200 --> 00:40:54,439 S1: God's way. It's around generosity. We see that in first 741 00:40:54,440 --> 00:40:58,040 S1: Timothy six. It's around contentment. We see that in Hebrews 742 00:40:58,040 --> 00:41:01,319 S1: 13 and also in first Timothy, that we should be 743 00:41:01,320 --> 00:41:05,640 S1: content with what we have. Understanding God is our ultimate treasure. Uh, 744 00:41:05,640 --> 00:41:09,080 S1: we should live with gratitude. You know, gratitude is really, 745 00:41:09,239 --> 00:41:12,440 S1: I think, essential, uh, to that of a steward. And really, 746 00:41:12,440 --> 00:41:16,320 S1: that mindset of stewardship is the fourth cornerstone, if you will, 747 00:41:16,320 --> 00:41:20,240 S1: recognizing God owns it all. And therefore we are stewards 748 00:41:20,480 --> 00:41:23,589 S1: of what God has entrusted to us. And when we 749 00:41:23,590 --> 00:41:26,950 S1: live those out, we're generous, we're content. We live with 750 00:41:26,950 --> 00:41:30,950 S1: grateful hearts and we're stewards. Understanding God is the owner 751 00:41:30,950 --> 00:41:33,630 S1: of everything and therefore we have a high calling. I 752 00:41:33,630 --> 00:41:37,670 S1: think it puts us in a posture to really be 753 00:41:37,670 --> 00:41:40,630 S1: that faithful steward that God has called us to be. Well, 754 00:41:40,630 --> 00:41:42,710 S1: our hope each day on this program is we can 755 00:41:42,710 --> 00:41:46,069 S1: help you do just that. Really see money through the 756 00:41:46,070 --> 00:41:49,270 S1: lens of God's Word, and then also help you tackle 757 00:41:49,270 --> 00:41:52,790 S1: those very practical questions that come up along the way. 758 00:41:52,989 --> 00:41:54,670 S1: Let me say a big thanks to my team today, 759 00:41:54,670 --> 00:42:00,029 S1: the amazing folks that make this possible today Josh, Tara, Taylor, Omar, 760 00:42:00,350 --> 00:42:02,950 S1: and everybody here at Faith by Faith and Finance Live 761 00:42:02,950 --> 00:42:05,830 S1: is a partnership between Moody Radio and Faith five. You 762 00:42:05,830 --> 00:42:08,509 S1: want to learn more? Head to Faith comm. While you're there, 763 00:42:08,510 --> 00:42:11,270 S1: check out the app, the brand new version coming in 764 00:42:11,270 --> 00:42:13,989 S1: the next two weeks. It is incredible. And if you 765 00:42:13,989 --> 00:42:16,989 S1: want to support our work, go to Faith B-complex give. 766 00:42:17,030 --> 00:42:17,830 S1: We'll see you tomorrow.