__You’ve probably heard it said that “anything worth doing is worth doing *well*.” Working hard at something can pay big dividends— spiritually and financially.__

Talk to any successful person, and they’ll probably tell you that success requires *work*. Former U-S Secretary of State, General Colin Powell said, “There is no secret to success. It is the result of preparation, hard work, and learning from failure.”

In other words, when you want to succeed in your finances, at your job, at school, or in relationships…you can’t just sit around thinking about it.  You have to take action.  Success in any area requires *discipline*.

Athletes know this. The more reps you do in the gym, or the more miles you put in, the better you do on competition day. No pain, no gain, right? In the area of education, a good student understands discipline: Study a little bit each day, take good notes, do your homework, and you’re in a better position to ace that test!

It’s the same with your finances. Practice discipline with your saving, spending, and giving, and you’re more likely to reach your financial goals. Unfortunately, if athletes, or students, or you and I, *fail* to practice discipline, the results won’t be as positive, because without the pain of discipline now, we’re likely to face the pain of regret later on.

__Here’s what Hebrews 12:11 says about discipline:__

*__No discipline seems pleasant at the time, but painful.  Later on, however, it produces a harvest of righteousness and peace for those who have been trained by it.__*

The Bible confirms that discipline is an important part of a Christian’s life—for spiritual as well as practical reasons.  We can’t grow as disciples of Christ if we’re sitting around like sanctified couch potatoes!  And while discipline is hard, it can also be a source of joy.

Let’s look at a few examples of financial disciplines, and the benefits of staying the course. Maybe you’re working hard at one or more of these.

Perhaps you’re determined to save a little money from your paycheck every week.  That certainly requires discipline, but the benefit of consistent saving is that you feel a lot less stressed about future financial needs.

Another example of financial discipline is *giving* faithfully to the Lord.  When you do, you have the satisfaction of participating in His Kingdom work, and the joy of helping others.

Or how about this one: It takes discipline to *pay down your debts*, but the benefit is, you’re making progress towards financial freedom. Think of the joy you’ll experience when you’re finally debt-free!

Finally, it takes discipline to stick to a financial plan, but when you do, you’ll reap the rewards of financial peace and confidence.  Knowing where each dollar is coming from and where it’s going is a key to financial stability and success. By the way, if you’re not exercising the discipline of a spending plan, we can help with that.  Download the __[FaithFi app](https://www.faithfi.com/manage)__, and we’ll show you how to start your own personalized spending plan.

The point is that it takes discipline to be a good manager of the resources God’s given you. It might be painful to endure the disciplines of saving, giving, paying off debt, and sticking to a plan, but the pain has a higher purpose.

__The verse from Hebrews that we quoted earlier tells us something we already know—discipline hurts—But discipline can also be a source of *joy*. Here’s why:__

First, the results of discipline are positive.  In the realm of finances, we can rejoice when our nest egg grows, when we see progress in paying off our loans, and when we see the fruits of our planning and generosity.  These happy outcomes make the hard work… of saving, paying down debt, planning, and giving…worthwhile.

Also, when we follow God’s blueprint for stewardship and integrity in money matters, we experience *peace* in our financial life.

When you compare the *lack* of financial discipline to the discipline of careful stewardship, it’s easy to see which one is more joyful. It’s much better to have all your ducks in a row, than to be constantly chasing them around the pond!

Finally, as hard as we try, none of us will make the right financial choices every time.  So, whether you blew your budget or missed a loan payment, it’s not the end of the world.  Acknowledge your mistakes.  Get help if you need it, submit your plans to the Lord, and get back on track.

__God has set before you certain resources to manage and when you *exercise disciplin*e with your money, *and* your spiritual life, you’ll experience a harvest of righteousness and peace, which is success in anyone’s book!__

You can also __[listen](https://www.faithfi.com/search?q=Financial%20Discipline%20Brings%20Joy&videos=true&articles=true&podcasts=true&posts=true&groups=true&events=true&support=true)__ to the related podcast on this topic.

FaithFi

Articles

Managing your resources with discipline can result in experiencing an abundant harvest in several ways.

Financial Discipline Brings Joy

__All of your relationships with your spouse, family and friends are important, but temporary. Your only *eternal* relationship is with *God.*__

We need the bonds of family and friends to help us thrive in this world, but they pale to the significance of your relationship with the Lord. You may be thinking, “True, but what’s that have to do with finances?"

For Christians, faith *and* our finances have everything to do with our relationship with God and the Bible gives us three principles to connect the dots.

__First— God created everything and therefore He owns everything.__

Colossians 1:16 reads, *“For by him all things were created, in heaven and on earth, visible and invisible, whether thrones or dominions or rulers or authorities—all things were created through him and for him.”*

__Second— God gave us everything we possess.__

James 1:17 tells us, *“Every good gift and every perfect gift is from above, coming down from the Father of lights, with whom there is no variation or shadow due to change.”* So God owns everything … but He’s given us resources to use temporarily as his stewards.

__Last— God is not distant and detached.__

He wants a close relationship with you. James 4:8 reads, *“Draw near to God, and he will draw near to you.”*

We draw near to God by obediently following His law. With over 2300 verses in Scripture about money and possessions, God has made his desire quite clear. He wants us to manage money according to His principles.

Our friend Howard Dayton points out that wisely managing money and the other resources God has blessed us with deepens our fellowship with Christ. Having a close relationship with Jesus is another way to describe what the Bible calls “true riches.”

In Luke 16:11, Jesus indicates that God uses money as a test. He says, *“If then you have not been faithful in the unrighteous wealth, who will entrust to you the true riches?”*

__Jesus is saying that how you handle money affects your *spiritual* life. If you manage it well, according to biblical principles, you’ll naturally grow closer to Christ. If not, your fellowship with the Lord suffers.__

Biblical money management is a very *practical* way to improve your *spiritual* life, but sometimes things get in the way. Two kinds of disobedience keep us from handling money God’s way and growing closer to Him.

__The first is passive.__ It’s just plain laziness. Some people don’t want to take the time to organize their finances, make a budget, and track their spending. Doing those things might only take a few hours a month. Still, it’s just too much to bother with.

Worse, that same person will spend more time than that watching TV every night. As a result, intimacy with God suffers.

Another person has a different obstacle to growing closer to God. It’s an active or *willful* disobedience. For that person, money and possessions compete with Christ.

Jesus tells us clearly how that will turn out. In Matthew 6:24 He says,  *“No one can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve God and money.”*

There are also people who think they can surrender every part of their lives to Christ *except* money. They might be quite good at making money, paying their bills on time, saving and investing, but they refuse to give Christ lordship over their finances and to follow all of the Bible’s teachings.

They may stumble over tithing or other giving to God’s Kingdom in other ways. They have the resources, but they don’t want to give. Again, their intimacy with Christ suffers.

__Finally, there’s the person who’s not following biblical financial principles but thinks his relationship with the Lord is just fine.__ To him we might say, “What you don’t know *will* hurt you.  What are you missing out on? You might *think* finances aren’t interfering with your relationship with God, but how would you know?

If that’s you, commit to the Lord in earnest prayer and then follow through managing your money and possessions His way. You’ll find what you need to get started by downloading the free [FaithFi app](https://app.faithfi.com/login). It will not only give you three ways to set up your budget based on the envelope system— It also has the best Christian financial content you’ll find anywhere to help you grow closer to God by following His principles.

__Here’s a challenge: Do that for three months and see if your relationship with the Lord is more intimate, if you feel His presence more fully in your life and affairs, then [let us know](https://www.faithfi.com/contact). We’d love to hear how it’s working for you!__

You can also __[listen](https://www.faithfi.com/search?q=Drawing%20Closer%20To%20God&videos=true&articles=true&podcasts=true&posts=true&groups=true&events=true&support=true)__ to a related podcast on this topic.

Faith & finances have everything to do with our relationship with God & the Bible gives us 3 principles to follow.

Drawing Closer To God

__When you plan to start your home-buying journey, it may seem like there are a lot of steps you have to take to achieve homeownership. Things like finding a good realtor, getting preapproved, making an offer and even hiring an inspector. Plus, one step that’s commonly forgotten about, closing costs!__

But before all these steps overwhelm you, don’t worry! Your Movement is here to help you every step of the way, starting with this blog! So, let’s talk closing costs.

__What are closing costs?__

Outside of saving for a down payment, closing costs might cause some extra stress when buying a home. But the good news is that if you're thinking about closing costs, you're in the home stretch!

When you "close" on a home, the title of the property you're buying officially transfers from the seller to you, the buyer. This signals the end of what can sometimes be a nerve-racking process. The costs associated with closing on a home consist of fees accrued throughout the entire process and can include*:

- Paying a title company to handle all paperwork
- Paying local government offices for deed recording
- Attorney fees
- Courier charges, if any
- Fees for property surveyors

Buying a new home can be a significant purchase in your life. Considering how much money you're putting up, paying closing costs should give you the peace of mind that everything's being handled expertly and efficiently.
*Additional costs and fees may apply.

__How much money are we talking about?__

In the USA, homebuyers typically pay 2-5% of the purchase price of their home in the closing process. According to real estate data firm ClosingCorp, the average total for closing costs on single-family homes in 2024 was [$6,905](https://www.bankrate.com/real-estate/average-closing-costs-by-state/). For you, that number may be lower or higher, depending on the price of your home. Just keep in mind that the final amount will be determined by:

- How much money you actually end up borrowing (after subtracting the down payment)
- The type of mortgage you decided to go with
- The type of property
- The city, county or state the property is in

When you complete your loan application, your lender will give you a loan estimate. This will provide you with a ballpark figure of closing costs for your particular situation. Here's what to expect:

- __Origination Fee__: A fee charged by the lender for processing the loan application, typically ranging from 0.5% to 1% of the loan amount.
- __Credit Report Fee__: A fee for pulling your credit score and complete credit report.
- __Appraisal Fee__: The cost of having the property appraised to determine its market value.
- __Building Inspector__: Fees for a professional home inspection to assess the condition of the property.
- __Property Survey__: A fee for surveying the property to determine its boundaries and ensure there are no encroachments.
- __Legal Fees__: Fees paid to attorneys for legal services related to the home purchase.
- __Title Search__: Fees for conducting a search of public records to confirm the property's legal ownership and check for any liens or claims.
- __Title Insurance__: Insurance that protects against losses due to defects in the title, with the cost usually based on the home's purchase price.
- __Private Mortgage Insurance (PMI)__: Insurance required if the down payment is less than 20% of the purchase price or if PMI isn’t required for certain loan types.
- __Prepaid Interest__: Interest that accrues on the loan from the closing day until the end of the first month as a homeowner.
- __Homeowner's Insurance__: Insurance that covers potential damages to the home and protects against certain risks.
- __Points__: Fees paid directly to the lender at closing in exchange for a reduced interest rate; one point equals 1% of the loan amount.
- __Escrow/Closing Fees__: Fees charged by the title company, escrow company, or attorney for conducting the closing process.
- __Recording Fees__: Fees charged by the local government for recording the sale of the property in public records.

Want to keep costs down as much as possible? Try to schedule your closing towards the end of the month. This can help minimize overall expenses since interest is based on the remaining days in the month.

__Can closing costs be negotiated?__

Yes and no. Some closing costs — like attorney fees and commission rates — can be negotiable. But most are set in stone. Let's dig in.

__NEGOTIABLE__

- __Homeowner's insurance:__ Lenders also require that you take out a home insurance policy before buying. Depending on the age and location of your home, this can get expensive. But homeowners insurance policies are available everywhere, so you can shop around. You might even be able to get a discount if you bundle it with your car insurance. But don’t be afraid to look into other discounts; some even offer ones to non-smokers!
- __Title insurance:__ This type of insurance — which can be costly — protects the lender if it's later discovered that there is a lien against the property. This is why a title search is done: to make sure the property is clear. You can shop around for less expensive insurance — title insurance rates can vary from provider to provider — and you can definitely try and negotiate these rates.

__NON-NEGOTIABLE__

- __Appraisals:__ Before a lender loans you money, you'll need to pay for a home appraisal. The costs will vary according to your home's size and location. Your loan officer puts in the order for the appraisal, so you can't really shop around — or ask for a discount here.
- __Lender fees:__ These costs — which can include underwriting fees, application fees, document preparation fees and processing fees — can not be negotiated down. If a lender charges one customer $2000 in total lender fees, they have to charge you the same.
- __State taxes:__ No matter how much you try, unfortunately, you can't get out of paying state transfer and recording fees. However, they can vary from state and sometimes from county to county.

__Who pays closing costs?__

The homebuyer covers the majority of closing costs. Buyers can negotiate with the seller to pay some fees, but if it's a seller's market, it’s less likely that’ll happen.

However, you can avoid closing fees as out-of-pocket costs by including them in your mortgage. If you go this route, know that you will incur interest charges on these fees, but at least you won't have to worry about coming up with the extra money on top of your down payment and moving expenses!

__Ready to close?__

Whether you're getting ready to close or just starting to research the home-buying process, understanding the costs associated with closing will save you from a headache when it comes time to finalize the deal.

__But remember, you aren’t alone in this process! Reach out to a [Movement loan officer near you](https://movement.com/search/) to ask any questions and receive any help you may need to achieve your homeownership goals!__

Outside of saving for a down payment, closing costs might cause some extra stress when buying a home.

Closing costs: What you can expect to pay

__“The end times are at hand and you want me to set up a *plan*?”__

Years ago, we sent out several thousand letters to Christians who we thought might have an interest in a resource such as SMI, one that could help them set up a personalized financial plan based on biblical principles. To many, this was welcome news — we added about a hundred new subscribers.

To others, such as the man who returned our order card with the above message (written with a bold red marker for emphasis!), it was an unnecessary distraction. His comment was a vivid reminder there are many Christians who are so focused on the reality of Christ’s return that planning, saving, and investing for the future seem pointless.

I would like nothing better than to see their expectation of Jesus’ imminent return come to pass! World events, and the extensive evidence of God’s Spirit moving in new ways around the globe gathering millions into the Body of Christ, suggest that possibility. But until the Lord *does* return, we are not given an either/or choice. Should we be living in anticipation as we “eagerly wait for our Lord Jesus Christ to be revealed” ([1 Corinthians 1:7b](https://biblia.com/bible/niv/1%20Cor%201.7b))? Yes. Should we have plans that will enable us to “be rich in good deeds, and be generous and willing to share” ([1 Timothy 6:18](https://biblia.com/bible/niv/1%20Tim%206.18))? Yes.

__The Bible leaves no doubt that God expects us to plan:__

- “The plans of the diligent lead to profit as surely as haste leads to poverty” ([Proverbs 21:5](https://biblia.com/bible/niv/Prov%2021.5)).
- “A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences” ([Proverbs 22:3](https://biblia.com/bible/niv/Prov%2022.3) LB).

__But it also makes clear that we’re to ask the Lord to guide us in the process and trust Him with the results:__

- “Commit to the Lord whatever you do, and he will establish your plans” ([Proverbs 16:3](https://biblia.com/bible/niv/Prov%2016.3)).
- “Many are the plans in a person’s heart, but it is the Lord’s purpose that prevails” ([Proverbs 19:21](https://biblia.com/bible/niv/Prov%2019.21)).

__Planning is an essential ingredient in managing your finances well. In his book *The Second Coming*, pastor and author John MacArthur discusses the lessons of the Parable of the Talents in these terms:__

- __The responsibility we receive.__
The servants are professing believers. The talents represent a wide range of spiritual opportunities, privileges, and resources, including natural abilities, spiritual gifts, material things, ministry responsibilities, and other blessings God has given us as stewards. Their duty was to *manage* the master’s wealth, not merely hold it for him until he returned.
- __The reaction we have.__
Two were faithful, embracing the responsibility they had been given. These two represent genuine believers whose supreme desire is to serve God. The trading done by these servants involved investment of the master’s resources. The verb tenses used in the parable suggest they were trading the whole time of the master’s absence; they did not merely make one successful trade and then sit idle the rest of the time.
- __The reckoning we will face.__
Upon the master’s sudden and unexpected return, all three stewards were summoned to give account. The unfaithful servant, by hiding his master’s talent in the ground, guaranteed that those resources would never earn a return. His behavior was “wicked” and “lazy” ([Matthew 25:26](https://biblia.com/bible/niv/Matt%2025.26)). Because the two faithful servants’ had made the most of an opportunity to serve him, the master rewarded them with *more *opportunity to serve, and this new opportunity was of the most joyous kind: “Come and share your master’s happiness” ([Matthew 25:21](https://biblia.com/bible/niv/Matt%2025.21),[23](https://biblia.com/bible/niv/Matthew%2025.23)).

The good steward *looks forward to the return of the Master*, but also *follows His instructions to “Put this money to work until I come back”* ([Luke 19:13](https://biblia.com/bible/niv/Luke%2019.13)). The Scriptures tell us to plan, save, invest, and give generously, and as we do, God has promised “to make all grace abound to you, so that in all things at all times, having all that you need, you will abound in every good work”__ __([2 Corinthians 9:8](https://biblia.com/bible/niv/2%20Cor%209.8)).

__So, yes, may the church pray *“Maranatha!* Come, Lord Jesus!” ([1 Corinthians 16:22](https://biblia.com/bible/niv/1%20Cor%2016.22), [Revelation 22:20](https://biblia.com/bible/niv/Rev%2022.20)). But in 2024, while we may wait and long for His appearing, ([2 Timothy 4:8](https://biblia.com/bible/niv/2%20Tim%204.8)), “let us not become weary in doing good, for at the proper time we will reap a harvest if we do not give up” ([Galatians 6:9](https://biblia.com/bible/niv/Gal%206.9)).__

__[Image](https://soundmindinvesting.com/articles/watching-waiting-planning-working)__ used with permission

Since 1990, do-it-yourself Christian investors have relied on SMI for proven strategies and trustworthy guidance.

Sound Mind Investing

Faith and Finance

While we may wait and long for His appearing, "let us not become weary in doing good..."

Watching, Waiting, Planning, Working

__Christians often fall into the trap of thinking that work is punishment, but that is a worldly view and not biblical. While work does involve toil and can be unpleasant, that was only brought about because of the Fall.__

Everything was idyllic in the Garden of Eden, but after being removed from Eden, life became more difficult for mankind as a natural consequence of sin. Genesis 3:19 tells us, *“By the sweat of your face you shall eat bread, till you return to the ground, for out of it you were taken; for you are dust, and to dust you shall return.”*

__How should Christians view work, then?__ We must remember that God ordained work and declared it good when He created the universe and everything in it. Genesis 1:31 reads, *“And God saw everything that he had made, and behold, it was very good.”*

We must put to rest the misconception that work is punishment for the fall. We know that’s not true. Genesis 2:15 shows that God gave Adam specific instructions for his labor in the Garden. It says, *“Then the Lord God took the man and put him into the garden of Eden to cultivate it and keep it.”*

A few verses later, God created Eve from Adam’s rib so she could be his partner and co-laborer with him in the Garden. This was *before* the Fall, so it’s correct to say that work itself is not a punishment.

The Apostle Paul often includes work when writing about the proper behavior of believers, teaching that God is our true Master and that we should work diligently with a positive attitude because it will point others to Christ.

Colossians 3:23-24 reads, *“Whatever you do, work heartily, as for the Lord and not for men, knowing that from the Lord you will receive the inheritance as your reward. You are serving the Lord Christ.”*

Paul reminds us that our real boss is God and that we should exemplify Christ, whom we represent on the job site. Ephesians 6:7 states, *“With good will render service, as to the Lord, and not to men.”*

Paul expands on this in 1 Thessalonians 4:11-12, “…*make it your ambition to lead a quiet life and attend to your own business and work with your hands … so that you will behave properly toward outsiders and not be in any need.”*

Work plays a crucial role in enabling us to fulfill our ultimate purpose, which is to glorify God. How we treat our work can glorify God or present a bad witness. It’s vital to remember that God owns everything and that everything we have comes from Him so that we remain grateful for His provision.

We must realize that our resumes or practiced video interviews do not ultimately land us a job. Those opportunities come from God, and we must use them to glorify Him.

Scripture helps us remain grateful and willing to serve in ways that glorify God. Deuteronomy 8:18 reads, *“You shall remember the Lord your God, for it is he who gives you power to get wealth, that he may confirm his covenant that he swore to your fathers, as it is this day.”*

God also gives us direction for our work in Genesis 1:28, *“Be fruitful and multiply and fill the earth and subdue it, and have dominion over the fish of the sea and over the birds of the heavens and over every living thing that moves on the earth.”*

We may think of stewardship as passive, marked by what we can leave untouched. While we must care for creation, we are also to use God’s creation to make the world a better place.

God expects us to use the natural resources He provides and transform them into more valuable, useful commodities that bless peoples’ lives. Converting [sand into silicon](https://www.makeuseof.com/how-intel-processor-is-made-from-sand-silicon/) computer processors is one example, [and using mold](https://www.saturdayeveningpost.com/2017/03/youre-probably-alive-moldy-cantaloupe-peoria/) found on a cantaloupe to produce life-saving antibiotic penicillin is another. Ephesians 2:10 reads, *“For we are his workmanship, created in Christ Jesus for good works, which God prepared beforehand, that we should walk in them.”*

By applying God’s Word on the subject of work, we can make a tremendous positive difference in our lives and the lives of others.

However, at some point, age or health may prevent us from working. __How does the Christian work ethic relate to the concept of retirement?__

We often have to remind *Faith and Finance* listeners that the word “retirement” isn’t found in the Bible. The concept of retirement is only mentioned in connection with the Levitical priests in Numbers 8:23-25, *“And the Lord spoke to Moses, saying, “This applies to the Levites: from twenty-five years old and upward they[[a](https://www.biblegateway.com/passage/?search=numbers+8%3A23-26&version=ESV#fen-ESV-3964a)] shall come to do duty in the service of the tent of meeting. And from the age of fifty years they shall withdraw from the duty of the service and serve no more.”*

For the rest of us, retirement as a life of leisure is a modern and unbiblical idea. We should plan and save for the day when we can no longer work, and that’s undoubtedly prudent.

However, we must also plan for what we might do when we’re no longer working for a paycheck. Although we may take an extended time of sabbatical rest, our calling from the Lord doesn’t have an expiration date. The retirement season is the time in life when we have the most experience and wisdom to share with others. The idea is to retire not just *from something* but *to* something. We can use our time, God-given skills, and experience to bring glory to the Lord and love others until the Lord calls us home.

__The Christian view of work is much different than the world’s, and we can also thank the Lord for that!__

Christians often fall into the trap of thinking that work is punishment, but that is a worldly view and not biblical.

A Christian View of Work

__Sinking funds are savings  set aside for specific future expenses, ensuring you're prepared for  financial obligations as they arise. Here are eight benefits of  incorporating sinking funds into your financial planning:__

__1. Budgeting precision.__

Sinking funds enhance your ability to  budget with precision. By allocating money regularly towards expected  expenses like car repairs, vacations, or even holiday gifts, you avoid  the stress of large, unexpected bills disrupting your budget. This  proactive approach allows you to maintain financial stability throughout  the year, knowing you've already set aside funds for upcoming needs.

__2. Avoiding debt.__

One of the most significant benefits of  sinking funds is their role in preventing debt. By saving in advance for  expenses, you can take care of the expenses with cash, avoiding debt.  Sinking funds can also help prevent you from going into debt should an  unexpected expense arise. This not only saves you money on interest  payments but also protects your generosity..

__3. Financial preparedness.__

Sinking funds provide a sense of financial  preparedness. Whether it's a medical emergency, home repair, or  replacing a major appliance, having funds set aside means you're ready  to handle these situations without derailing your overall financial  plan. This preparedness fosters peace of mind and reduces the anxiety  often associated with financial uncertainty.

__4. Long-term goal achievement.__

Beyond immediate expenses, sinking funds  can help you achieve long-term financial goals. Whether it's saving for a  down payment on a house, funding your children's education, or  preparing for retirement, regularly contributing to sinking funds builds  disciplined saving habits that can be applied to larger financial  aspirations.

__5. Reduced stress.__

Financial stress is a common burden for  many individuals and families. Sinking funds alleviate this stress by  providing a financial cushion for expected expenses. Knowing you have  money set aside for car maintenance or annual insurance premiums allows  you to focus on enjoying life without worrying about how to cover these  costs.

__6. Flexibility and adaptability.__

Life is unpredictable, and financial needs  can change unexpectedly. Sinking funds offer flexibility by allowing you  to adjust your savings priorities based on changing circumstances.  Whether you need to increase savings for a forthcoming expense or  temporarily redirect funds to address an urgent need, sinking funds  allow you to adapt without compromising your financial stability.

__7. Increased confidence and control.__

Ultimately, sinking funds empower you to  take control of your finances. Instead of reacting to financial  challenges as they arise, you proactively plan and prepare for them.  This shift from reactive to proactive financial management instills a  sense of control over your financial future, increasing confidence in  your ability to navigate both expected and unexpected expenses.

__8. Generosity protection.__

Finally, sinking funds protect your ability  to be generous. When you have funds allocated for regular expenses,  you're less likely to dip into savings earmarked for giving to your  church or helping others in need. This financial stability allows you to  live and give more generously.

__Sinking funds are a powerful financial tool  that offers numerous benefits, from enhanced budgeting precision and  debt prevention to long-term goal achievement and reduced stress. By  incorporating sinking funds into your financial plan, you not only  strengthen your financial stability but also become proactive with your  finances. Whether you're saving for short-term expenses or building  towards the next Money Milestone, consider using sinking funds.__

__[Image](https://www.christianmoneysolutions.com/blog/8-amazing-benefits-of-sinking-funds)__ used with permission

You were meant for more. Your money was meant for more. You and your money are meant for an exciting, adventurous, and satisfying purpose. You were designed to live and give generously. And deep inside you know this and want this.

Christian Money Solutions

Savings

Sinking funds are savings set aside for specific future expenses, ensuring you're prepared for financial obligations.

8 Amazing Benefits of Sinking Funds

__Here's what happened to an 88-year-old relative a few weeks ago. She answered her phone, even though she didn't recognize the number. (Mistake #1.) The caller said he worked with Medicare and had been reviewing her account. He had good news! He said she could get expanded benefits by answering a few questions and giving her consent. She did just that. (Mistake #2.)__

As it turned out, the caller was not a Medicare employee — as my relative had assumed — but an unscrupulous insurance agent selling Medicare-related policies. The line about "improving her benefits" wasn't false, per se, but the information was selectively presented. My relative never realized she was consenting to significant changes in her coverage.

Here's what happened. The agent moved her out of traditional Medicare (which she'd had for 23 years) and into Medicare Advantage, effectively terminating her full-featured "Medigap F" plan and her stand-alone Part D prescription coverage.

As SMI noted in a recent article, Medicare Advantage is a [good choice for many seniors](https://soundmindinvesting.com/articles/bridging-the-gap-covering-what-medicare-doesnt-pay). Such plans typically offer broader benefits than traditional Medicare with Medigap. However, an Advantage plan — particularly an HMO plan, which the agent enrolled her in — is wholly inappropriate for an 88-year-old with existing health conditions. (HMO plans often require referrals to specialists, including the type of specialists my relative has been seeing for years.)

### "Marketing misrepresentation"

What happened to my relative has a name: "marketing misrepresentation." The practice violates Medicare's rules, yet marketing violations occur with some frequency, according to a 2022 [report](https://www.finance.senate.gov/imo/media/doc/Deceptive%20Marketing%20Practices%20Flourish%20in%20Medicare%20Advantage.pdf) (PDF) issued by the Senate Finance Committee. (The Finance Committee has jurisdiction over "health programs financed by a specific tax," which Medicare is.)

"Of particular concern to the Committee were reports...of agents changing vulnerable seniors'...health plans without their [genuine informed] consent," the report stated.

Although Medicare is a federal program, private brokers and agents are empowered to help seniors navigate the complex and confusing Medicare landscape and assist with enrollment. Such brokers and agents [earn money from Medicare](https://ritterim.com/blog/how-much-can-insurance-agents-make-selling-medicare/#med-supp) for each person enrolled.

Because that creates a financial incentive that could work against a senior's best interest, brokers and agents "are subject to rigorous oversight by their contracted health or drug plans," [according](https://www.cms.gov/medicare/health-drug-plans/managed-care-marketing/medicare-marketing-guidelines/agent-broker-compensation) to the federal Centers for Medicare and Medicare Services. Those who don't comply with the marketing and enrollment guidelines face "termination with their contracted health or drug plans."

Even so, some brokers and agents skirt the rules, and it may be weeks before a senior realizes what has happened. By then, previous coverage has been terminated and replaced with a plan that may have more out-of-pocket costs and not cover the same doctors or facilities.

### Undoing the damage

Unwinding changes resulting from marketing misrepresentation can require hours on the phone, trying to disenroll from a new plan and re-establish previous coverage. (In some cases, reversing the changes may not be possible.)

Fortunately for my relative, the unwanted changeover was discovered quickly, and thanks to the helpful efforts of one of the insurance companies involved, her previous Medicare arrangement is back in place now.

However, she had to postpone at least one medical appointment because of uncertain coverage, and she may be required to pay out of pocket for two early June physical therapy visits that normally would have been covered. That's bothersome, but the financial damage and inconvenience could have been much worse.

### Protect yourself and learn more

The Centers for Medicare and Medicaid Services stresses that *Medicare employees do not make unsolicited calls to seniors about their benefits*.

Brokers and agents are not supposed to make unsolicited calls, either. They're also prohibited from leaving leaflets or flyers at a residence unless the senior has set up an appointment.

The Senior Medicare Patrol National Resource Center (funded by U.S. taxpayers) has more information about common [Medicare Marketing Violations and Misleading Marketing](https://smpresource.org/medicare-fraud/fraud-schemes/medicare-marketing-violations-and-misleading-marketing/).

__If you think you've been a victim of misrepresentation and other Medicare-related fraud, [report it](https://smpresource.org/you-can-help/report-fraud/) to the Senior Medicare Patrol in your state.__

__[Image](https://soundmindinvesting.com/articles/medicare-marketing-misrepresentation-another-scam-targeting-seniors)__ used by permission.

Retirement

Medicare allows private brokers to market Medicare-related plans. But when brokers skirt the rules, seniors get hurt.

Medicare "Marketing Misrepresentation": Another Scam Targeting Seniors

__1 John 2:15 contains a command and a warning for Christians. “*Do not love the world or the things in the world. If anyone loves the world, the love of the Father is not in him.”*__

You have a choice—to be worldly or Kingdom-minded with your finances but beware, God’s way is definitely *counter-cultural*.

Most people like fitting in, following the crowd, and keeping up with the Joneses. If you’re a Christian, however, God calls you to live with a different set of values than the world. This kind of counter-cultural thinking is just what Jesus demonstrated during his ministry and it applies to every part of your life— *including money*.

The question is this: Do your actions and attitudes around money reflect the world’s values or God’s?

The list below compares the world’s messages about money and possessions to what God’s Word says about the same issues. The two mindsets are like night and day:

__The World__

- God is dead, and nothing—including what you do with your money—really matters.
- *Keeping* things brings blessing (Luke 12:19).
- The “DIY” philosophy: Do it all yourself because you’re on your own, and there’s no accountability.
- The goal of life is to *get more*—more money, more influence, more security.
- Wealth or success justifies pride (1 Timothy 6:17-19).
- If someone cheats you or steals from you, it’s okay to take revenge.
- You can own things.
- It’s okay to love money, even if you’re a Christian.

__God’s Word__

- Our God is living (Matthew 16:16), He is love (1 John 4:16), and you are His workmanship (Ephesians 2:10). What you do *does* matter.
- G*iving* produces blessing (Proverbs 22:9, Acts 20:35).
- The Creator of heaven and earth is always with us (Psalm 23:4), and *he* is our best source of help (Psalm 121:2).
- Those things will eventually disappear. What has eternal value is knowing and loving God (Jeremiah 9:23-24). Seek God first, and everything else falls into place (Matthew 6:33).
- Pride leads to destruction (Proverbs 16:18), and humility is a source of victory (1 Peter 5:5).
- *“Do not repay evil with evil or insult with insult. On the contrary, repay evil with blessing… so that you may inherit a blessing.”* (1 Peter 3:9).
- *Things always end up owning you*. What sets people free is not having possessions but knowing Christ (John 8:32).
- It’s impossible to love God and money at the same time (Matthew 6:24) because you can’t serve two masters at once.

As Christians, we’re *supposed* to be different because we have a different Lord than the world does. As James 4:4 says, *"Friendship* *with the world is enmity with God*.” Does that mean we find a bunker somewhere and avoid all contact with anything or anyone who isn’t Christian? Far from it!

Consider how Jesus did things. During his earthly ministry, he served the people around him, demonstrating a kind of love that changed lives. He also had a knack for challenging cultural attitudes about relationships and possessions. He was a revolutionary, both in his time and ours.

So, if we’re going to be followers of Christ, we have to learn from his example. We’ll do things differently than the secular culture might expect. That means replacing greed with generosity, exchanging disrespect for love, and being a counter-cultural giver of our time, care, and resources.

In light of all this, your financial choices are critical. First, your attitude about money reveals a lot about your heart. Second, how you handle money can be an example to others. They’ll see the blessings that come from honesty, faithfulness, and generosity.

__The apostle Peter calls us “*sojourners and exiles*” for a reason (1 Peter 2:11). We’re on our way home, but we have a job to do in the meantime. We should love and serve others counter-culturally, as Jesus did—and God gets the glory.__

You can also __[listen](https://www.faithfi.com/search?q=Counter-Cultural%20Finances&videos=true&articles=true&podcasts=true&posts=true&groups=true&events=true&support=true)__ to the related podcast on this topic.

You have a choice to be worldly or Kingdom-minded with your finances. But, God’s way is definitely counter-cultural.

Counter-Cultural Finances

<p>You’ve probably heard it said that <i>“anything worth doing is worth doing well.”</i></p><p>Today, we’ll find out why working hard at something can pay big dividends—spiritually and financially.</p><h3>The Secret to Success: Discipline in Every Area of Life</h3><p>What does it take to succeed? If you ask any successful person, they’ll likely tell you that success doesn’t happen by accident—it requires hard work, preparation, and the ability to learn from failure. As former U.S. Secretary of State General Colin Powell once said, <i>“There is no secret to success. It is the result of preparation, hard work, and learning from failure.”</i></p><p>Success demands more than wishful thinking, whether in finances, job, school, or relationships. It requires action and, most importantly, discipline.</p><h3>The Importance of Discipline</h3><p>Athletes understand this concept well: the more reps you do in the gym or the more miles you run, the better you perform on competition day. The principle of “no pain, no gain” is universally recognized. Similarly, students who study consistently, take good notes, and complete their homework are better prepared to ace their exams.</p><p>The same is true for your finances. Practicing discipline in saving, spending, and giving significantly increases your chances of achieving your financial goals. On the flip side, neglecting discipline now often leads to the pain of regret later. Hebrews 12:11 puts it this way:</p><p><i>“No discipline seems pleasant at the time, but painful. Later on, however, it produces a harvest of righteousness and peace for those who have been trained by it.”</i></p><h3>Financial Disciplines and Their Benefits</h3><p>The Bible emphasizes the importance of discipline in the life of a Christian, both spiritually and practically. Growing as a disciple of Christ requires more than passive observation; it requires active engagement and discipline. While discipline may be challenging, it can also be a source of great joy. Let’s explore a few examples of financial discipline and its benefits.</p><ul><li><strong>Consistent Saving:</strong> Perhaps you’ve committed to saving a portion of your paycheck every week. This discipline requires effort, but the benefit is the reduced stress about future financial needs. Regular saving builds a financial cushion, giving you peace of mind.</li><li><strong>Faithful Giving: </strong>Giving faithfully to the Lord requires discipline, but it comes with the joy of participating in God’s Kingdom work and the satisfaction of helping others. Generosity enriches your life in ways that money cannot.</li><li><strong>Paying Down Debt: </strong>It takes discipline to chip away at your debts, but the benefit is progress toward financial freedom. Imagine the joy and relief you’ll feel when you’re finally debt-free!</li><li><strong>Sticking to a Financial Plan:</strong> Adhering to a financial plan demands discipline, but it rewards you with peace and confidence. Knowing where each dollar comes from and where it’s going is essential for financial stability and success. If you’re not currently practicing the discipline of a spending plan, we can help. Download the <a href="https://www.faithfi.com/manage">FaithFi app</a> or visit us online at <a href="http://faithfi.com">FaithFi.com</a> to create your personalized spending plan.</li></ul><h3>The Joy of Discipline</h3><p>Being a good steward of the resources God has entrusted to you requires discipline. While the disciplines of saving, giving, paying off debt, and sticking to a plan may be challenging, they serve a higher purpose.</p><p>As we read earlier in Hebrews, discipline can be painful, but it also brings joy. Here’s why:</p><ul><li><strong>Positive Results: </strong>Discipline yields positive outcomes. In the realm of finances, you can rejoice when your savings grow, when you make progress in paying off debt, and when you see the fruits of your planning and generosity. These successes make the hard work worthwhile.</li><li><strong>Peace in Financial Stewardship:</strong> Following God’s principles of stewardship and integrity in money matters brings peace to your financial life. There’s a deep sense of satisfaction in knowing you’re managing your resources wisely.</li><li><strong>The Joy of Order:</strong> When you compare the chaos of financial mismanagement with the peace of careful stewardship, it’s easy to see which is more joyful. It’s far better to have all your financial “ducks” in a row than to be constantly chasing them.</li></ul><h3>Overcoming Setbacks</h3><p>Even with the best intentions, none of us make the right financial choices every time. Whether you overspend your budget or miss a loan payment, it’s not the end of the world. Acknowledge your mistakes, seek help if necessary, submit your plans to the Lord, and get back on track. God has entrusted you with specific resources to manage, and when you exercise discipline with your money—and your spiritual life—you’ll experience a harvest of righteousness and peace. That’s true success in anyone’s book!</p><h3>On Today’s Program, Rob Answers Listener Questions:</h3><ul><li>I recently inherited a retirement account from my deceased husband. I want to convert the money into a down payment for a house, and I would like to know if you have any advice on the least painful way to do that.</li><li>I'm 46, and I have a traditional IRA that I am strongly considering converting to a Roth. What are your thoughts on that decision? </li><li>My 19-year-old is attending junior college and receiving free tuition from the Tennessee Promise. However, he also wants to invest and hopes to purchase a duplex by age 21. So, we don't want to mess with his FAFSA and mess him up to the point where he would not be able to receive that free money for a Tennessee student attending junior college. So, what could we do for his benefit?</li><li>I have about $100,000 in a tax-deferred account that's growing little because it's in a guaranteed term. Now that I'm retiring, I want to move it somewhere to maximize my earnings. How would you recommend going about that?</li></ul><h3>Resources Mentioned:</h3><ul><li><a href="https://www.amazon.com/Wise-Women-Managing-Money-Budgeting/dp/0802424260/ref=sr_1_2?crid=2RVCSL50YDYJN&amp;dib=eyJ2IjoiMSJ9.IF0XLB6GQ1-7pAmA_MSGzbM7YKysFFF9cs2XVg7QlU5j3LFXNEYdIJ2lf5i1ZavJA7k7srxftLpBxjMUe7q_MRdcAmiNLzkifcGJqAGRUMbN111hNGp1jfTUW2AKNdP1Bosf5x2YBqApc9DU1IrIcDsiSD7v-Pd74YtIp1FsWG_m8BcgSlfDgQNliWSXdQrUwV2n5R-LxZsOk2jxPYbuDA.Xcx63IVLttqYvXpPeKF1K3-LBq1L7zrEiaFVGyk1-sc&amp;dib_tag=se&amp;keywords=miriam+neff&amp;qid=1725052970&amp;sprefix=miriam+nef%2Caps%2C120&amp;sr=8-2">Wise Women Managing Money: Expert Advice on Debt, Wealth, Budgeting, and More by Miriam Neff and Valerie Neff Hogan, JD. </a></li><li><a href="https://www.faithfi.com/rtg">Rich Toward God: A Study on the Parable of the Rich Fool</a></li><li><a href="https://www.faithfi.com/find">Find a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)</a></li><li><a href="https://www.faithfi.com/manage">FaithFi App</a></li></ul>
<p><p>Remember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the <a href="https://www.moodyradio.org/programs/faith-and-finance/">Moody Radio Network </a>and <a href="https://afr.net/podcasts/faith-finance/">American Family Radio</a>. Visit our website at <a href="https://www.faithfi.com/">FaithFi.com </a>where you can join the FaithFi Community <a href="https://www.faithfi.com/give">and give </a>as we expand our outreach.</p></p>

Faith & Finance is a daily radio ministry hosted by Rob West. The program offers a practical, biblical and good-natured approach to managing your time, talents and resources.

Faith & Finance with Rob West

You’ve probably heard it said that “anything worth doing is worth doing well.”

Today, we’ll find out why working hard at something can pay big dividends—spiritually and financially.

Where timeless biblical wisdom meets today's financial decisions.

Become Wise With Money

Our trusted partner, Christian Credit Counselors, offers a debt management program that can get you out of credit card debt 80% faster while honoring your debt in full.

Struggling with credit card debt but don’t know where to start?

Our debt management program helps people avoid bankruptcy, debt settlement scams, and quick fixes that ruin credit.

Christian Credit Counselors

Silence is not an option. Your boldness can set people free.

Talking about money is challenging and uncomfortable.

We teach church leaders the biblical perspective on finances.

Christian Stewardship Network

Compass helps people worldwide to know Christ more intimately in one of the most personal arenas of life, finances. We teach what the Bible says about money, nothing less, & encourage people to discover God’s truth & experience life change.

Learn, Apply, and Multiply What the Bible Says About Money and Possessions

Compass helps people worldwide to know Christ more intimately in one of the most personal arenas of life, finances.

Compass Financial

Discover the secret of "winning by not losing".

Profit & Peace of Mind - No Matter What's Happening in the Market

Financial health is just a means to a greater end. I want to see you in a place where you are living and giving generously, advancing God's Kingdom, without the hindrance of debt or any other financial barrier.

Give generously. Save wisely. Live appropriately.

Investing can be more than just returns

Eventide

Every Investment Has An Impact

Join a movement of investors, fund managers and leaders who believe that God owns it all and he cares deeply about why and how we steward his investments.

Faith Driven Investor

God is raising up an army of Gospel Patrons who will partner to build the church, bless the world, and finish the Great Commission.

Join the Movement

Behind every great movement of God are generous leaders who partner with those who proclaim the gospel. We call them Gospel Patrons.

Gospel Patrons

Do you have a giving strategy? We would love to help you explore all the opportunities to make the most of what God has given you.

Do you have a Giving Strategy?

NCF helps people create a giving strategy based on biblical principles, so they can be wise stewards of all they have and experience the joy of greater generosity.

National Christian Foundation

Most conversations about giving end with an ask for money. Generous Giving hosts free events that help explore Jesus-like generosity without asking for anything in return. This leads to stronger families and deeper relationships with God.

Explore the Joy of Generosity

We exist to spread the message of biblical generosity in order to grow generous givers especially among those entrusted with much.

Generous Giving

Are you ready to lay down anything in your life preventing you from following Jesus?

Find Joy and Freedom in a Life of Surrender

The Ron Blue Institute seeks to be a thought leader with great influence committed to changing the way Christians think, act, and communicate about financial stewardship, empowering the church, and changing the world.

Ron Blue Institute

We’re glad to share the financial and spiritual advantages that CHM offers, and they look forward to helping you discover if this is the right healthcare solution for you.

Want more information on CHM’s budget-friendly, biblical and compassionate healthcare solution?

We’re not insurance—we’re the better, biblical solution to taking care of your medical costs. Through our biblical community, brothers and sisters in Christ are here to meet the need of eligible medical bills while lifting you spiritually

Christian Healthcare Ministries

We believe you can make a positive difference when your investment decisions are motivated by your faith and values.Investing together, impacting the world.

INVEST IN PRAXIS MUTUAL FUNDS

Praxis Mutual Funds has a rich history as a leading faith-based family of mutual funds designed to help people integrate their finances with their values. With Praxis,your investments can make a difference for you, and the world around you.

Praxis Mutual Funds

FatihFi App

We are a Bible-believing, Christ-centered nonprofit organization teaching Biblical principles and reaching people in need.

Eternal Perspective Ministries

Eternal Perspective Ministries, founded and directed by author Randy Alcorn, is focused on investing in what lasts for eternity, and helping others to do the same.

Explore our articles, podcast, and courses.

Educational resources for Biblically faithful investing

Inspiring an authentically Christian practice of modern investing.

Eventide Center for Faith & Investing

But it doesn’t have to be. Join a Faith Driven Entrepreneur Group today.

Entrepreneurship is a lonely journey.

Faith Driven Entrepreneur is a movement dedicated to gathering one million Christ-following entrepreneurs and equipping them, so they can fulfill their call to create and transform the world around them.

Faith Driven Entrepreneur

After nearly 20,000 meetings with people just like you, helping them grow in wisdom, confidence and joy, and coaching millions more over radio, television and digital media, we'd love to help you, too!

Money’s not bad, but it’s also not easy.

God is too good and life is too special to let money hold you back.  Get hope-filled coaching so you can steward wisely and live faithfully.

Smarter Stewardship

<p>You’ve saved up your downpayment and found the perfect house to buy. But have you considered closing costs?</p><p>They’re really the first big expense you’ll have with home ownership. Which can you negotiate, and which are set in stone?</p><h3>The Hidden Costs of Homebuying: What You Need to Know About Closing Costs</h3><p>Buying a home is an exciting milestone, but amidst the thrill of owning your first house, it’s easy to overlook the long list of closing costs that come with it. Many people think that because these costs are often rolled into the mortgage, they don’t need to worry about them. However, understanding and negotiating these costs can save you a significant amount of money in the long run.</p><p>For a typical mortgage, closing costs usually range between 3% to 6% of the mortgage amount. Let’s break it down with an example. Suppose you borrow $250,000 at 6.5% interest on a 30-year loan. Your monthly payment would be around $1,580. If your closing costs are on the higher end—say $15,000—and you roll them into your mortgage, you’re now borrowing $265,000 instead of $250,000. This increases your monthly payment by $95, leading to an additional cost of over $34,000 over the life of the loan.</p><p>In short, closing costs matter. Being aware of them and negotiating where possible is crucial.</p><h3>Negotiable Closing Costs</h3><p>Some closing costs come with wiggle room, meaning you can negotiate them down. Here are a few:</p><ul><li><strong>Homeowners Insurance:</strong> Your lender requires this, but you can shop around for the best rates. Don’t assume the insurer suggested by your lender or agent is the best option.</li><li><strong>Origination Fee:</strong> This fee typically covers the cost of underwriting the loan and is usually about 1% of the loan amount. Always ask to have it waived or lowered; you might not succeed, but asking costs nothing.</li><li><strong>Underwriting Fee:</strong> Some lenders charge this fee in addition to or instead of the origination fee. Again, you can negotiate this.</li><li><strong>Loan Application Fee:</strong> This one-time fee for processing your loan can also be a candidate for negotiation, especially if you’re already paying an origination or underwriting fee.</li><li><strong>Real Estate Commissions:</strong> Traditionally, sellers have paid the commissions for both the seller’s and buyer’s agents. However, recent changes in the real estate industry mean buyers may now be asked to contribute. It’s another area to negotiate.</li><li><strong>Title Insurance:</strong> You’ll need to buy lender’s title insurance, which only protects the lender. You can shop around for better rates and suggest a different insurer to your lender. Don’t forget to purchase owner’s title insurance to protect your ownership.</li></ul><h3>Non-Negotiable Closing Costs</h3><p>While some closing costs can be negotiated, others are fixed. These include the appraisal fee, credit check fee, government fees (such as title transfers or recording costs), and property taxes. You should be prepared to pay these costs without expecting any leeway.</p><h3>The Importance of Integrity in Your Mortgage Company</h3><p>With so much money on the line, it's essential to work with a mortgage company that operates with transparency and integrity. <a href="https://movement.com/faith?_branch_match_id=1354437665083707365&amp;utm_medium=faithfi&amp;_branch_referrer=H4sIAAAAAAAAA8soKSkottLXL8ozMsnWSywo0MvJzMvWz80vS81NzSsBABiC5QAfAAAA">Movement Mortgage</a> is a Christian mortgage company founded during the 2008 housing crisis. Its mission is to help homebuyers while glorifying God by positively impacting communities within the U.S. and abroad.</p><p><a href="https://movement.com/faith?_branch_match_id=1354437665083707365&amp;utm_medium=faithfi&amp;_branch_referrer=H4sIAAAAAAAAA8soKSkottLXL8ozMsnWSywo0MvJzMvWz80vS81NzSsBABiC5QAfAAAA">Movement Mortgage</a> offers competitive rates and the opportunity to be part of a global movement of change. The company has donated $377 million to community projects both locally and internationally. With locations in all 50 states, <a href="https://movement.com/faith?_branch_match_id=1354437665083707365&amp;utm_medium=faithfi&amp;_branch_referrer=H4sIAAAAAAAAA8soKSkottLXL8ozMsnWSywo0MvJzMvWz80vS81NzSsBABiC5QAfAAAA">Movement Mortgage</a> is a lender you can trust to guide you through the home-buying process with integrity.</p><p>For more information, you can visit<a href="https://faithfi.com/movement"> FaithFi.com/Movement</a>.</p><h3>On Today’s Program, Rob Answers Listener Questions:</h3><ul><li>Are permanent endowments biblical in a Christian context? I'm thinking of a Christian university, nonprofit, or other Christian organization with a permanent endowment where the original gift can never be touched and only the income can be used. What are your thoughts on the biblical perspective of this?</li><li>I had a TIAA account that my husband took out as an adjunct professor at the local community college. It's just a small amount, and because I'm 76, I've been required to take a certain amount out each year. I want to give this to my son so those amounts can stay there and start accruing interest. Can I do that?</li><li>I'm trying to mitigate the taxes on the sale of a rental house. Can I use the proceeds to satisfy my required minimum distribution (RMD), or does the RMD have to come from an IRA? Also, my husband has had a whole life insurance policy since he was 20. Is there ever a time when whole life insurance is beneficial?</li></ul><h3>Resources Mentioned:</h3><ul><li><a href="https://movement.com/faith?_branch_match_id=1354437665083707365&amp;utm_medium=faithfi&amp;_branch_referrer=H4sIAAAAAAAAA8soKSkottLXL8ozMsnWSywo0MvJzMvWz80vS81NzSsBABiC5QAfAAAA">Movement Mortgage</a></li><li><a href="https://www.epm.org/resources/2024/Feb/26/rewarded-leaving-money/">Will We Be Rewarded for Leaving Money to Christian Ministries in Our Wills? (Article by Randy Alcorn)</a></li><li><a href="https://www.faithfi.com/rtg">Rich Toward God: A Study on the Parable of the Rich Fool</a></li><li><a href="https://www.faithfi.com/find">Find a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)</a></li><li><a href="https://www.faithfi.com/manage">FaithFi App</a></li></ul>
<p><p>Remember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the <a href="https://www.moodyradio.org/programs/faith-and-finance/">Moody Radio Network </a>and <a href="https://afr.net/podcasts/faith-finance/">American Family Radio</a>. Visit our website at <a href="https://www.faithfi.com/">FaithFi.com </a>where you can join the FaithFi Community <a href="https://www.faithfi.com/give">and give </a>as we expand our outreach.</p></p>

You’ve saved up your downpayment and found the perfect house to buy. But have you considered closing costs?

They’re really the first big expense you’ll have with home ownership. Which can you negotiate, and which are set in stone?

Know Your Closing Costs

<p>A <a href="https://thestatement.bokf.com/articles/2023/10/teaching-kids-about-money-can-be-routine-activity">recent survey</a> shows that most parents think they should teach their kids financial literacy; the good news is that many are actually doing it.</p><p>Still, other parents may not know how to teach their kids financial responsibility. Ron Blue joins us today to discuss how he and his wife, Judy, did it.</p><p>Ron Blue is the co-founder of <a href="https://kingdomadvisors.com/">Kingdom Advisors</a> and the author of many books on biblical finance, including <a href="https://www.amazon.com/Your-Kids-Master-Their-Money/dp/1589971914/ref=sr_1_6?crid=26YZ0MV4EM4TI&amp;dib=eyJ2IjoiMSJ9.Yo8VELhdcDg8vIoMv5NLkVYDHOXcYZUCZf9WladGnrfWbGJN8v9lZZ_bboz8z6gHX2LsGFvOW6Zl3sP82z8HtYdynvS29YJoI_XdjDNV1X7BOMAkpoVx0HYsGDES48Op29s6VZGChQ5pXhZkNZ2yd_kyKpyUtWcUD3IpU-l_ZhahquOjb6s9IFZ-5j4oVOUcUGjdvdPSkDCm0n_lF4qEqjOkysqkWQnNBPv4o-TNmac.0rZCBURPFjfKMQ5Kz2q8t1F5WeSsUCe7Ajj2-SNXadM&amp;dib_tag=se&amp;keywords=Ron+Blue&amp;qid=1724450396&amp;s=books&amp;sprefix=ron+blu%2Cstripbooks%2C88&amp;sr=1-6">“<i>Your Kids Can Master Their Money: Fun Ways to Help Them Learn How.”</i></a></p><h3>The Importance of Financial Education at Home</h3><p>A <a href="https://thestatement.bokf.com/articles/2023/10/teaching-kids-about-money-can-be-routine-activity">recent survey</a> by the Bank of Oklahoma Financial reveals that 85% of parents believe they should teach their kids about financial responsibility, with many acknowledging that this should also be a part of school curricula. However, a significant portion of parents, about one-third, feel that schools aren't sufficiently addressing this topic. Encouragingly, 65% of parents are actively teaching their children about money management.</p><p>Children learn best by observing their parents’ financial habits. The old adage "more is caught than taught" rings true—kids learn to manage money by seeing how their parents handle it. However, teaching financial responsibility has become more challenging with the rise of credit cards and digital transactions.</p><h3>Age-Appropriate Lessons For Children</h3><p>For younger children, Ron Blue and his wife Judy used a simple yet effective method: the envelope system. Starting at age eight, their children received envelopes designated for different purposes: giving, saving, spending, gifts for the family, and clothing. This hands-on approach taught the kids about budgeting, prioritizing, and the importance of giving.</p><p>As their children entered high school, they introduced them to more advanced financial tools, such as credit cards, while educating them about responsible usage. This early exposure helped their children understand the implications of credit and the importance of managing money in a digital society.</p><p>Today, parents have even more resources at their disposal. Ron Blue suggests using debit cards and budgeting apps, such as the <a href="https://www.faithfi.com/manage">FaithFi app</a>, to help children manage their finances. By teaching children about money early on, parents can equip them with the skills and wisdom needed to navigate the financial challenges of life.</p><h3>On Today’s Program, Rob Answers Listener Questions:</h3><ul><li>I had a stroke and had to retire early, and now the only thing I have is my home. I received a letter about a reverse mortgage, and I was wondering if that could help me.</li><li>I was just curious about your thoughts on Fisher Investments and whether 1.25% is too much to pay for the management of my funds.</li><li>I'm on disability, and I'm eligible for Social Security, but I can't draw both at the same time. My Social Security is substantially higher than what my wife would be. Can she draw mine?</li><li>I have a mortgage on a new home and want to refinance due to the high interest rate, but I'm unsure if I should wait, recast the loan, or put money towards the principal. What are the advantages of those options?</li></ul><h3>Resources Mentioned:</h3><ul><li><a href="http://ssa.gov">SSA.gov (Social Security Administration)</a></li><li><a href="http://zillow.com">Zillow.com</a></li><li><a href="https://www.faithfi.com/rtg">Rich Toward God: A Study on the Parable of the Rich Fool</a></li><li><a href="https://www.faithfi.com/find">Find a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)</a></li><li><a href="https://www.faithfi.com/manage">FaithFi App</a></li></ul>
<p><p>Remember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the <a href="https://www.moodyradio.org/programs/faith-and-finance/">Moody Radio Network </a>and <a href="https://afr.net/podcasts/faith-finance/">American Family Radio</a>. Visit our website at <a href="https://www.faithfi.com/">FaithFi.com </a>where you can join the FaithFi Community <a href="https://www.faithfi.com/give">and give </a>as we expand our outreach.</p></p>

A recent survey shows that most parents think they should teach their kids financial literacy; the good news is that many are actually doing it.

Still, other parents may not know how to teach their kids financial responsibility. Ron Blue joins us today to discuss how he and his wife, Judy, did it.

Ron Blue is the co-founder of Kingdom Advisors and the author of many books on biblical finance, including “Your Kids Can Master Their Money: Fun Ways to Help Them Learn How.”

Preparing Kids for Financial Responsibility with Ron Blue

<p><i>“We know that our old self was crucified with him in order that the body of sin might be brought to nothing, so that we would no longer be enslaved to sin.” -</i> Romans 6:6</p><p>Being born again in Christ changes a person. We’re given a new nature that fights against our old, corrupt nature. Sometimes, the evidence of this is in the area of finances. Straight ahead—a journey to faithful stewardship.</p><h3>Bobby’s Testimony</h3><p>It's always a great privilege to connect with people, answer their financial questions, and offer help whenever possible. Recently, we spoke with Bobby from Nebraska, whose story is a powerful testament to the transformative power of faith and determination.</p><p>Bobby was in a tough spot. He had accumulated significant debt, including a car repossession, delinquent medical and credit card debt, and unpaid overdraft loans sent to collections. But despite his financial struggles, Bobby was committed to turning his life around. When asked if anything had changed in his life since accumulating that debt, Bobby shared his story.</p><p>In his own words, Bobby explained, <i>“Back then, I was big into partying and addicted to drugs. I sold drugs and went to prison for it. Well, now I'm clean and sober. I don't do any of that anymore. I actually have money in my bank account. September 10th, 2021, was the biggest start of it. That’s when I gave my life to Jesus Christ. And now I'm just trying to get everything back in line and where it needs to be.”</i></p><p>Hearing how Bobby’s life has changed since inviting Christ in as his Savior was truly inspiring. His commitment to sobriety and financial stewardship is a powerful example of God’s redemptive power.</p><h3>Steps Toward Financial Freedom</h3><p>A few weeks ago, we advised Bobby to take several steps to get his finances in order. First, we recommended that he pull copies of his credit reports from <a href="https://www.experian.com/">Experian</a>, <a href="https://www.equifax.com/">Equifax</a>, and <a href="https://www.transunion.com/?atvy=%7B%22202422%22%3A%22Experience+A%22%7D">TransUnion</a> to identify all his debts. Then, we suggested he contact <a href="https://christiancreditcounselors.org/FaithFi/?%24web_only=true&amp;_branch_match_id=1354437665083707365&amp;utm_medium=moneywise&amp;_branch_referrer=H4sIAAAAAAAAAwXBwQkAIAgAwI0SolfbiAlJYqK2f3e7ynMChPVxGro3FTvAQDskS9AoeEnRfZasN%2FIDr264rTIAAAA%3D">Christian Credit Counselors</a> to help manage his credit card debt through a debt management plan, which would consolidate his payments and help him pay off his debt faster.</p><p>We also offered to connect Bobby with one of our <a href="https://www.faithfi.com/findcertcfc?topics=Budgeting">Certified Christian Financial Counselors (CertCFC)</a> at no charge. This counselor would work with him one-on-one to develop a budget and create a plan for paying off his old debts. Finally, we took a moment to pray with Bobby, thanking God for His miraculous intervention and the gift of eternal life that Bobby had received.</p><h3>Biblical Principles Guiding Bobby's Transformation</h3><p>Bobby’s journey highlights several biblical principles that are now guiding his life:</p><ul><li><strong>The Body as a Temple:</strong> Bobby’s decision to give up drugs aligns with 1 Corinthians 6:19, which reminds us that our bodies are temples of the Holy Spirit. Recognizing that we are not our own but belong to God is a powerful motivator for making healthy choices.</li><li><strong>Humility:</strong> Bobby’s willingness to seek help, even on a public platform, reflects the humility described in Proverbs 22:4: <i>“The reward for humility and fear of the Lord is riches and honor and life.”</i></li><li><strong>Honesty:</strong> Bobby’s commitment to owning up to his debt is a reflection of the biblical principle of honesty. Exodus 20:16 and Colossians 3:9 teach us the importance of living truthfully, especially as followers of Christ.</li><li><strong>Repaying Debts:</strong> The Bible emphasizes the importance of repaying what we owe. Psalm 37:21 says, <i>“The wicked borrows but does not pay back, but the righteous is generous and gives.”</i> Bobby’s desire to pay off his debt is a step toward fulfilling this principle.</li><li><strong>Stewardship:</strong> Perhaps the most significant principle guiding Bobby now is stewardship. He wants to manage his finances faithfully, in line with 1 Corinthians 4:2: <i>“It is required of stewards that they be found faithful.”</i></li></ul><p>We were grateful to help Bobby on his journey to faithful stewardship, and we want to extend that same help to you. If you’re struggling with your finances, need help creating a budget, or want to develop a plan to pay down debt and start saving, please reach out to us. We’re here to help you take the next step toward financial freedom and faithful stewardship.</p><p>Bobby’s story is a powerful reminder that with God’s help, it’s never too late to turn your life around and get back on track. If you’re ready to take that step, we’re here to walk alongside you.</p><h3>On Today’s Program, Rob Answers Listener Questions:</h3><ul><li>I'm 70 and have a lot saved in my retirement accounts. I want to help my daughter and son-in-law, who are in their 20s, buy their first home. What's the best way for me to gift them money from my 401(k) without creating tax issues?</li><li>I renovated a duplex and am having trouble renting it out. Should I sell the property to avoid capital gains taxes or keep trying to find tenants?</li><li>I rent out a 3-unit apartment building. Would applying for an LLC benefit this rental property?</li></ul><h3>Resources Mentioned:</h3><ul><li><a href="https://www.faithfi.com/rtg">Rich Toward God: A Study on the Parable of the Rich Fool</a></li><li><a href="https://www.faithfi.com/find">Find a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)</a></li><li><a href="https://www.faithfi.com/manage">FaithFi App</a></li></ul>
<p><p>Remember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the <a href="https://www.moodyradio.org/programs/faith-and-finance/">Moody Radio Network </a>and <a href="https://afr.net/podcasts/faith-finance/">American Family Radio</a>. Visit our website at <a href="https://www.faithfi.com/">FaithFi.com </a>where you can join the FaithFi Community <a href="https://www.faithfi.com/give">and give </a>as we expand our outreach.</p></p>

“We know that our old self was crucified with him in order that the body of sin might be brought to nothing, so that we would no longer be enslaved to sin.” - Romans 6:6

Being born again in Christ changes a person. We’re given a new nature that fights against our old, corrupt nature. Sometimes, the evidence of this is in the area of finances. Straight ahead—a journey to faithful stewardship.

A Journey To Faithful Stewardship

CHM member Matthew Smith of Colorado Springs, along with his climbing partner, Tommy, spent two nerve-wracking and potentially deadly nights trapped by a blizzard on Mount of the Holy Cross in Colorado. From getting lost in the wilderness to experiencing frostbite to a dramatic helicopter rescue, Matthew recounts how God sustained him on the mountain and orchestrated the events that saved his life and the role CHM members played in sharing his medical bills.

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Mount of the Holy Cross Journey - Matthew Smith Testimony

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From getting lost in the wilderness to experiencing frostbite to a dramatic helicopter rescue, God met his needs.

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