__The prospect of buying a new home can be exciting. But for many, the process seems complex and overwhelming. They are not sure what steps they are to take and when. As stewards of God’s resources (Matthew 25:14-30), we are compelled to make wise purchase decisions. And given that a home purchase is often the largest purchase a person will make, it is important that they have a good understanding of the process to go about it wisely. To simplify the homebuying process, here are six steps for buying a home that you need to know:__

#### Step 1: Determine your budget and get a pre-approved.

Before you start searching for a home, you must determine how much you can afford. Skipping this important step can result in purchasing a home that is too expensive, resulting in increased financial stress, decreased financial flexibility, and decreases generosity. As a rule of thumb, it is recommended that you are able to make a 20% down payment on the home and have a mortgage payment of no greater than 30% of your monthly income.

Once you have determined your budget, you will need to get a preapproval letter from a lender. This lets sellers know that you can access the funds needed for the purchase. But be careful with the approval amount. The amount approved is the maximum amount the lender is willing to lend, not the amount you should spend. More often than not, the amount you should spend is lower than the approved amount.

#### Step 2: Determine your must-haves.

Identify your wants and needs in a home. Your needs may include the number of bedrooms and bathrooms, a certain location, and a yard. Wants may include a certain kitchen décor, a specific neighborhood, and desired square feet. List your want and your needs and prioritize both lists. This will help you filter homes  and reduce your search time.

#### Step 3: Start house hunting.

To get started, you can use online tools like Zillow and Redfin to search for homes based on location, price range, and other criteria. You can also set up alerts to be notified when new homes are listed that meet your search criteria. You can also drive through neighborhoods that interest you and get an overall feel for the area to which you are moving.

However, you will eventually want to work with a real estate agent. Real estate agents help you find homes that match your must-haves and provide guidance throughout the home buying process. They usually have a good knowledge of the local market and the homes for sale. They also help you navigate the negotiations and paperwork involved in buying a new home.

Be patient when house hunting. Finding a home that meets you needs at a price you can afford typically takes time. Rushing to make a purchase can either leave you with a home you don’t like or a debt burden that is too large. Of course, it is possible that you don’t find the perfect home and must compromise on some wants.


![](https://static.wixstatic.com/media/978a5c_49219d3e8984470a9c89648c46267ea7~mv2.jpg/v1/fill/w_1108,h_738,al_c,q_85,usm_0.66_1.00_0.01,enc_auto/978a5c_49219d3e8984470a9c89648c46267ea7~mv2.jpg)


#### Step 4: Make an offer.

Once you have found a home that you would like to purchase, you must make an offer to the seller. If you have a real estate agent, they will help you determine a good offer amount and submit the offer for you. The seller may accept the offer, reject the offer, or provide a counteroffer. If both parties are able to come to an agreement, the home becomes under contract.

#### Step 5: Get a home inspection.

As part of a typical contract, several contingencies are included to protect the buyer and the seller. A home inspector will examine your home for any issues that you need to be aware of. The inspector will check the roof, electrical, plumbing, HVAC, appliances, and other parts of the home. Once the inspector has examined the house, he or she will present you with the findings. If they determine that costly repairs or replacements are needed, you can make the covering the expenses as part of the negotiation with buyer. As “as is” offer skips this part of the homebuying process. Such an offer puts the buyer at risk and is usually not recommended.

#### Step 6: Get an appraisal.

An appraisal determines the value of the home. If you are using a lender for the home’s purchase, they will likely require an appraisal. The lender wants to make sure that they are not lending more than the home is worth and that the loan-to-value is accurate. If the value of the home is lower than expected, you will either need to renegotiate the purchase price or bring more money to the table for the purchase.
#### 
#### Step 7: Close the sale.

There are other contingencies in the contract, like a clean title and ensuring that funding is in place. Once everything checks out, the buyer can close on the house. Often, the buyer’s real estate agent and an attorney are present at the closing. There also may be others present. The closing agent ensures that all documents are signed and recorded, that any fees are properly distributed. Once everything is complete, keys are given to the house's new owners.

*[Images](https://static.wixstatic.com/media/978a5c_49219d3e8984470a9c89648c46267ea7~mv2.jpg/v1/fill/w_1108,h_738,al_c,q_85,usm_0.66_1.00_0.01,enc_auto/978a5c_49219d3e8984470a9c89648c46267ea7~mv2.jpg) 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

Debt

To simplify the homebuying process, here are six steps for buying a home that you need to know.

7 Steps for Buying a Home

__Tax season here in the U.S. is over (unless you've filing for an extension).__

According to USA TODAY, 90 million out of the 168 million individual returns the IRS anticipates this year have already been filed.

The deadline to file is April 18. (If you file for an extension, the deadline is October 16.)

Filing taxes has had more importance to me since joining my first Compass financial discipleship Bible study back in 2020. So, in the spirit of Tax Day, I want to share a few biblical principles I learned to consider when filing my taxes. Whether you’re one of the 90 million who’s already filed, these principles may also help you become a better financial disciple…

__Principle #1: Give Unto Caesar What Is Caesar’s__

This is what Jesus told the Pharisees about the imperial tax when they tried to trap him with His words (__[Matthew 22:21](https://www.biblegateway.com/passage/?search=Matthew+22%3A15-22&version=NIV)__). Obviously, that didn’t work out so well for them!

__[Romans 13:7](https://www.biblegateway.com/passage/?search=Romans+13%3A7&version=NIV) __says, *“Give to everyone what you owe them: If you owe taxes, pay taxes; if revenue, then revenue; if respect, then respect; if honor, then honor.” *

Like many other taxpayers, I’ve had my fair share of moments where I notice “there’s a tax for that.” And I see the difference it would make in my finances if there were less taxes or none at all. But I’ve learned that it’s not my job to suggest what I think the tax code should be. It’s just my job to be obedient. Which brings me to the next principle…

__Principle #2: Listen to Authority__

I’ve also had my fair share of moments where I thought certain laws should be different or someone else would be better for the job in office. But again, I’ve learned that my difference in opinion doesn’t give me an excuse to disregard authority. It’s not about being political, it’s about following what is biblical.

The Bible tells us to be subject to authority. The authority in place has been allowed by God (__[Romans 13:1-5](https://www.biblegateway.com/passage/?search=Romans+13%3A1-5&version=NIV)__). And while I don’t think that means we should blindly follow—like when King Nebuchadnezzar ordered everyone to worship a statue (__[Daniel 3:8-27](https://www.biblegateway.com/passage/?search=Daniel+3%3A8-27&version=NIV)__)—I do think that our respect for authority is an act of service to God.

__Principle #3: Be Honest & Genuine__

Now, being honest is important in everything we do, not just when filing our taxes. But I think it’s easy to compromise our integrity with some things.

For example, if I have a tax professional do my taxes for me and they tell me about shady loopholes that could help me, the right thing to do would be to decline their offer and possibly find someone else who will follow the rules. Yes, that costs me more money, but God rewards those who are obedient.

Being genuine is also important in everything we do, because God knows our heart.

If there is anything you do because of the tax benefit, I want to encourage you to search your heart.

I’m not saying there’s anything wrong with accepting favorable tax deductions. It is in your right to do so in accordance with the tax codes. What I am saying is, that should never be the motivation.

If you tithe to your church and donate to charity, do it because your heart tells you to, not because it is something to write off.

In 1 Corinthians 13, it says the things we do should be done with love, or else we might as well not do them at all. That includes giving (__[1 Corinthians 13:3](https://www.biblegateway.com/passage/?search=1+Corinthians+13%3A3&version=NIV)__).

If we are faithful to the Lord, He will be faithful to us. I have seen it time and time again. In the lives of others, yes; but in my life, as well.

When I first started tithing, I was tithing off of what I made after taxes. But a couple years later, a friend explained that tithing is based on income earned *before* taxes (__[Proverbs 3:9](https://www.biblegateway.com/passage/?search=Proverbs+3%3A9&version=NIV)__; __[Exodus 34:26](https://www.biblegateway.com/passage/?search=Exodus+34%3A26&version=NIV)__). Out of greed and fear, I still chose to keep tithing the way I was until I was convicted a year later to change my ways.

Well, just a few months before I was supposed to be getting married, I still felt that, even though I eventually came around to tithing accordingly, I consciously robbed God for a year by choosing to tithe “my way.”

So, out of faith, I went back and calculated how much I should’ve been tithing and added a fifth to it as restitution (__[Leviticus 6:2-5](https://www.biblegateway.com/passage/?search=Leviticus+6%3A2–5&version=NIV)__). Then, I gave it to my church… during a time when I was saving for a wedding.

It was scary, and I was tempted not to do it. But God…

God gave me and my then fiancé (we’re married now) so much favor. The only explanation I could come up with was that it was because of my obedience.

I know this story has nothing to do with taxes. But it has everything to do with who God is…

When you choose to do what is right, even when it costs you something, God will reward you. And probably in the way you least expect.

So, when it comes to doing your taxes, or anything at all, be genuine and always try to do what is right. Because God takes care of His own (__[Matthew 6:25-33](https://www.biblegateway.com/passage/?search=Matthew+6%3A25-33&version=NIV)__). He will never fail you.

With gratitude,

Melody Stampley

Managing Editor

__AUTHOR BIO__

Melody is the founder of financial coaching business Centsible Finance LLC. She earned a bachelor’s in public relations from the University of Florida in 2014, and a master’s in global strategic communications from Florida International University in 2017; but she discovered her passion in personal finance and writing, as well as a closer relationship with the Lord, after joining a Compass – finances God’s way study in 2020. She now serves as a volunteer on the Compass Florida board, is the editor for the Compass blog, and a facilitator and trainer for financial discipleship studies. Melody and her husband, Nate, have one son, Isaiah, and live in South Florida.

*[Image](https://compass1.org/wp-content/uploads/2023/04/Compass-Blog-Cover-1.png) used with permission. *

Equipping people worldwide to faithfully apply God’s financial principles so they may know Christ more intimately.

Compass Financial

Money Topics

Whether you’re one of the 90 million who’s already filed, these principles may also help you become a better disciple.

3 Principles for Financial Disciples Filing Taxes

### When it comes to being an adult, there are very few financial decisions that are at the same level as buying a house. Where you decide to plant roots can determine who your friends and neighbors are, where you go to church, where you work, and more.

So, when it comes to buying a home, how can one know if they’re ready? Art Rainer has an amazing [article](https://www.artrainer.com/post/should-you-really-buy-a-house) that covers a lot of different questions that one must ask themselves before doing so.

Owning a home is a huge blessing and comes with its perks. However, if a home is bought when the homeowner’s finances are not in order, it can be a recipe for disaster.

Take my situation for example. I bought a home when I was twenty-three years old with the lowest down payment allowed by the bank. We started the loan application process, connected with a realtor, and before we knew it, we were touring homes.

When we began the pre-approval process, we started hearing about various fees that one needed to pay in the beginning stages of buying a home. Before we knew it, we had paid thousands of dollars in fees before we even moved in. We discovered that with closing costs, appraisal fees, credit report fees, home inspection fees, earnest money, title search fees, and origination fees, the [price](https://www.creditkarma.com/home-loans/i/fees-when-buying-home) to get into a home can be costly if one isn’t prepared for it.

Of course, there are common arguments that I get from people who don’t want to postpone homeownership. Here are a few of them and my responses.

#### 1. “I’m tired of my money paying a landlord instead of it being invested in a property I own.”

For starters, the entirety of the monthly payment does not go toward principal. Your payment is usually split up into 4-5 different parts: principal, interest, private mortgage insurance (if you have less than 20% equity in the home), home insurance, and property taxes. In some cases, you can also add HOA (Homeowner’s Association) fees to that if you live in a neighborhood that has such an organization.

If you have an escrow account, these amounts are put together into one payment to make things simplistic. When I started my mortgage on my home, I didn’t realize until a few months later that only 1/9 of my payment was going to principal. When I looked at our payment schedule and amortization table, I saw we would only pay off 20% of the home in the first 10 years of the mortgage.

> You’re not any less of an adult for renting. Stop comparing yourself to others. Every person has different budgets, different financial histories, and different financial responsibilities.

The specific percentage for each mortgage will vary and is dependent on factors like interest rate, down payment, and loan amount. However, it’s important to review your amortization table to see how making extra payments can eliminate future interest.

Looking at those numbers, it would’ve made more sense for me to stay in my much cheaper apartment and save the difference toward a down payment. This isn’t to say that 30-year mortgages are bad, but that they aren’t designed to pay off your house quickly.

For those who are tired of paying the landlord instead of paying into a home, realize that it’s only a small portion of your payment that is going towards the house. Often, I find this decision is not financially justifiable for those who have a much cheaper rate in a rental. They can make much more headway towards a home if they save the difference that they would make in payments towards a down payment.

#### 2. “If I wait too long, I won’t be able to ever buy a home.”

This by far is the most popular response I hear from people who don’t want to wait to buy a home. Because the market generally moves upward, people feel that if they wait too long, they will not be able to afford as nice of a home, or for that matter, a home at all.

While I sympathize with this frustration, I equally want to encourage people not to let the market dictate their decisions. Whether it’s the investment market, car market, or even the home market, we should never allow the market to dictate whether we’re ready to move forward or not. Sure, the market can certainly affect certain elements of our decision-making, but it should never be the deciding factor.

When you’re looking at a home, be careful with the “dream home” or “forever home” mentality. The average home buyer only stays in their first home for about 8 years. Whether it’s moving closer to loved ones, getting a bigger home to fulfill a growing family’s needs, or a new job, there are a variety of reasons why one can expect to eventually move. Allow yourself to release the pressure of selecting the perfect home.


![](https://static.wixstatic.com/media/11062b_55fdf1f84f7847749c39ec86212351d6~mv2.jpg/v1/fill/w_1108,h_738,al_c,q_85,usm_0.66_1.00_0.01,enc_auto/11062b_55fdf1f84f7847749c39ec86212351d6~mv2.jpg)


#### 3. “I’m tired of my monthly payment increasing every time I renew my lease.”

While my wife and I lived in an apartment for a few years, we always were weary of our lease end date. We recognized that rent was most likely going up, the increase would determine whether we were staying there or not. However, a common misunderstanding with home buying is that your payment doesn’t ever change, and this is demonstrably false.

While it is true that your principal and interest don’t change during your loan (unless you have an adjustable-rate mortgage), other elements of your payment are likely to increase over time. Property taxes go up when your home increases in value. So, while it’s exciting to watch your equity grow, it often means a small increase in your monthly payment will follow. Of course, there are ways to minimize how much your taxes can increase due to something called a [homestead exemption](https://www.investopedia.com/terms/h/homestead-exemption.asp), but that amount d epends on the state you reside. While it can’t prevent your taxes from going up, it’s a good idea to apply for one of these to prevent taxes from rising too quickly between years.

Your home insurance policy and HOA fees are also likely to increase over time. So, while I understand the frustration of having to deal with a rising monthly payment, you don’t necessarily escape this problem by owning a home.

#### 4. “Maintaining a home can’t be that expensive.”

Homeowners are on the hook for all property repairs and maintenance. When you’re a renter, that responsibility completely falls on the landlord. These expenses are sometimes unpredictable. Renting can provide you needed stability as you pay off debt, build up an emergency fund, and save for a down payment.

Even for new homes, this can be true. I can’t tell you how many times I’ve even seen people who have brand new homes with frustrating repair costs. Here are some general house cost repairs that we need to consider should you be interested on what these services typically on average [cost](https://www.sofi.com/learn/content/most-common-home-repair-costs/) :

- Foundation Repair: $2,000 - $7500; up to $25,000
- Electrical Issues: $100-$400 for minor work; $2,500 for electrical panel replacement
- Roof Repair: $950; $8,000 for a full roof replacement
- Water Heater: $600 to $1,700 to replace
- Water Damage: $2,600
- Pipe Repair: $600 - $1,600 per fixture; $5,000 for a new sewer line.
- A/C and Heating: $350 for AC repair; $4,500 for furnace installation.
- Termite Damage: $575 for treatment; $3,000 for repair damage
- Mold Removal: $2,350

Home warranties often have their limitations and will not completely protect you from unforeseen expenses. And homeowner’s insurance policies still have deductibles that must be met before insurance kicks in. Those deductibles can be a few thousand dollars, depending on your policy.

#### Don’t be ashamed of renting.

Because I didn’t know what I was doing in the home buying process, my wife and I found ourselves struggling financially for years as we looked to dig ourselves out of the trench that was our mortgage. We were paying 44% of our income, leaving us completely strapped for anything we wanted to do for the house. If anything broke in the house, we wouldn’t have been able to afford it. In fact, I needed a second job just to make sure we could pay basic bills.

Take it from me, you don’t want to get into a house before you’re ready. The term “house poor” is very real. Don’t make the same mistake I did. By the grace of God, my wife and I are not in that situation anymore financially, but it certainly left a mark on how we make these decisions in the future.

As you consider these points, I hope you’ll begin to feel more peace about the decision to rent. Let’s destroy this notion that renting means one is less successful or less of an adult. Renting is a viable option for those who are looking to better their financial situation, while making sure that they are sufficiently prepared for any emergency or expense that comes their way.

There is nothing wrong with recognizing that renting is better for you. While the goal of home ownership is to free up future cash flow, some people’s financial situations don’t permit them the ability to do this.
And that’s okay.

You’re not any less of an adult for renting. Stop comparing yourself to others. Every person has different budgets, different financial histories, and different financial responsibilities.

Homeownership is a wonderful blessing. However, let’s make sure we handle this in a responsible way so that it can stay the blessing that it was designed to be.

*[Image](https://static.wixstatic.com/media/11062b_55fdf1f84f7847749c39ec86212351d6~mv2.jpg/v1/fill/w_1108,h_738,al_c,q_85,usm_0.66_1.00_0.01,enc_auto/11062b_55fdf1f84f7847749c39ec86212351d6~mv2.jpg) used with permission. *

You’re not any less of an adult for renting. Stop comparing yourself to others. Every person has different circumstances

Why You Shouldn't Be Ashamed of Renting

### Prior to becoming a parent, I thought I understood love. Then, I became a dad.
### 
### When I held my firstborn son for the very first time in the delivery room, I quickly realized that my capacity to love someone was deeper and richer than I ever realized. It was a moment that gave me a taste of God’s deep love for us. Though I cannot fully understand God’s love, I understood it better.

If you are a parent, you have been there before. The love for your children is deep. And out of the deep love we have for our children flows a desire for them to experience good things. We want what is best for our kids.

But sometimes this good desire leads us down the path of poor financial decision-making. We spend money that we don’t have on our children and find ourselves sinking in an ocean of debt.

We find ourselves asking, “How did we get here? How did we become a living proof that the personal debt statistics we hear are actually true?”

How do parents get there? Consider these five common causes:

#### 1. Keeping up with the Joneses.

You have probably heard this phrase before. “Keeping up with the Joneses” is simply trying to maintain the lifestyle of those around you. Your neighbor or coworker dresses their children in high-end children’s clothing so you want to do the same. Or your neighbor sends their children to private school, so you decide to follow suit, even though you really can’t afford the cost.

The Joneses are a frustrating crew to chase because they are always shifting the standard. As soon as you feel that you have arrived, they move it slightly out of reach again. So we need to be careful. There will always be other parents who spend more on their children. And who knows, they, like you, may be using debt to finance their expenditures. You could be chasing a façade.

#### 2. Spending too much time on social media.

Mentally, you know that the images you see on Facebook, Instagram, and Twitter are simply the filtered versions of those you follow. You know this because you do the same things, only posting what you want everyone else to see, the images that makes your life seem perfect.

But the constant barrage of great vacations (They are going to Disney again?), child accolades (Does their son ever make a B?), and perfect family moments (I hate that I love their smiles.), can make you feel like a bad parent. You can easily create unrealistic expectations, and try to buy your way to feeling better about yourself.

#### 3. Thinking that your kids will not succeed in life if they don’t have it all.

Extracurricular activities have entered a whole new realm. Travel leagues, academic and athletic camps, and private tutoring and athletic training have become commonplace. You want your child to succeed in life. And you are afraid that if you do not provide your child with these opportunities, they will fall behind. So you try to provide it all.

Unfortunately, there is a cost to all these activities and experiences. Not only do they leave little margin in you and your child’s schedule (including time at church), they eat up the margin in your budget. Are extracurriculars good? Absolutely. But are they worth going into debt? Absolutely not.


![](https://static.wixstatic.com/media/978a5c_6755e7c2d5c540b194ca0383328c3e99~mv2.jpg/v1/fill/w_1108,h_738,al_c,q_85,usm_0.66_1.00_0.01,enc_auto/978a5c_6755e7c2d5c540b194ca0383328c3e99~mv2.jpg)


#### 4. Caring more about our child’s future career than their future character.

This could certainly be a subpoint of the above point. Often, the focus of our parenting is centered on getting our child into a good school or setting them up to have good career. While school and career are not unimportant, they are not the most important. The most important part of parenting, shepherding our children’s hearts, is difficult and time-consuming. But it is also less costly.

#### 5. Wanting to give them what you did not have growing up.

You can probably remember a time when, as a child, you did not get something you wanted. Maybe it was a new bike. Maybe, as a teenager, it was a certain car. You or your parents could not afford it. And you remember how you felt.

Now that you are a parent, you want to ensure that your child doesn’t experience those same feelings. You don’t want them to feel lacking. So when they ask, they get. Even if the purchase requires the swipe of a credit card.
#### 
#### 6. Not considering how lacking helped you as a kid.

You remember what it feet like a child who wanted something but could not get it. But do you also remember what resulted from not being able to get that item? You may have resorted to more creative play. If you were a teenager, you may have resorted to getting a job. These moments in your childhood assisted you in your growth as a individual.

Now consider who you may be now if everything you wanted, you received. For most of us, it’s a scary thought. Lacking was not necessarily bad for you. In fact, lacking may have resulted in more good than bad for you. And it is the same for your child. It is okay for your child not to have everything they want. It may be best. And it is okay to say “no” when a purchase hurts the budget.

Your financial health matters to your children. This is especially true in the future, when your children turn into adults. Frequently, the consequence of poor financial decision-making of parents ends up falling on the shoulders of their adult children. Worry about your financial health now so that your children do not have to worry about your financial health in the future.

Love your children well. Teach them to love God, not stuff. Teach them to give, not get. Teach them that financial resources are meant to advance God’s Kingdom, not their own.

*[Image](https://static.wixstatic.com/media/978a5c_6755e7c2d5c540b194ca0383328c3e99~mv2.jpg/v1/fill/w_1108,h_738,al_c,q_85,usm_0.66_1.00_0.01,enc_auto/978a5c_6755e7c2d5c540b194ca0383328c3e99~mv2.jpg) used with permission. *

Marriage and Family

We want what is best for our kids, but this good desire leads us down the path of poor financial decision-making.

6 Things That Can Lead Loving Parents Into Debt

If you’re carrying a balance on a credit card, do you know how much you’re paying in interest? Here’s a hint: It’s a lot more than last year. The Federal Reserve’s effort to curb inflation by raising interest rates is hitting credit card holders in a big way. We’ll talk with Neile Simon about that on this Faith and Finance. Neile Simon is a Certified Credit Counselor with <a href="https://www.christiancreditcounselors.org/">Christian Credit Counselors</a>, an underwriter of this program. <ul><li>The average APR for all credit card accounts in the first quarter of 2023 was just over 20%. That’s a 4-point increase in the last 6 months. That’s the biggest increase since the Fed began tracking credit card interest rates nearly 30 years ago.</li><li>So, given the current economic outlook and interest rate environment, it’s more important than ever to save money by paying down high-interest debt.</li><li>HOW CAN PEOPLE NOW CARRYING A BALANCE GET STARTED? </li><li>Get informed. Look at your monthly statements and find out what your current interest rates are. Many people are not aware of the increases if they have their accounts on autopay.</li><li>Then you need to make a budget to determine how much disposable income your family has. You have to spend less than you make and be intentional with your spending. The more extras you cut out, the more you have to pay down your credit card balance.</li><li>You have a better chance of doing that if you get everyone in the family on board by opening up lines of communication, setting family goals, and working together to achieve them.</li><li>WHAT ARE THE SIGNS THE CREDIT CARDS ARE OUT OF CONTROL? </li><li>-  Trouble making minimum payments</li><li>-  More than $4,000 in cc debt</li><li>-  Can’t seem to resist using the card</li><li>HOW CCC CAN HELP</li><li>When you contact Christian Credit Counselors, they help you to: </li><li>-  Help set up a budget</li><li>-  Create a God-honoring and ethical debt management plan</li><li>-  Lower your interest rates</li><li>-  Pay off your debt up to 80% faster</li><li>To learn more visit <a href="http://chrstiancreditcounselors.org">ChrstianCreditCounselors.org</a>.</li></ul>On this program, Rob also answers listener questions: <ul><li>How can a 9-year-old go about investing her first $100? </li><li>Are universal life insurance policies a wise investment? </li><li>What are the rules about withdrawing the assets of an elderly parent on Medicaid? </li><li>What is the best way to build a positive credit history? </li></ul>Remember, you can call in to ask your questions most days at (800) 525-7000. Also, visit our website at <a href="https://www.faithfi.com/">FaithFi.com</a> where you can join the FaithFi Community, <a href="https://faithfi.netviewshop.com/donate2">and give </a>as we expand our outreach.

FaithFi

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

If you’re carrying a balance on a credit card, do you know how much you’re paying in interest? Here’s a hint: It’s a lot more than last year. The Federal Reserve’s effort to curb inflation by raising interest rates is hitting credit card holders in a big way. We’ll talk with Neile Simon about that on this Faith and Finance.

Rising Credit Card Interest Rates With Neile Simon

“The wicked borrow and do not repay, but the righteous give generously.” Psalm 37:21. As Christians, we know that paying our debts is important. We serve a just and righteous God who hates dishonesty. But what if someone owes you money? What recourse do you have? Rob West discusses this in today's Faith and Finance.
- God’s Word contains dozens of verses about repaying debt, but usually from the perspective of owing it to others. Another example of this is Ecclesiastes 5:5. It reads, “It is better that you should not vow than that you should vow and not pay.”
- We have to dig a little deeper to discern God’s will for us when someone owes us money, but one thing is very clear - the Lord expects us to act differently than the world.
- For one thing, if the one who owes you is a fellow believer, you should never sue to recover that money. Paul says this in no uncertain terms. In 1 Corinthians 6:6-7 he writes, “But brother goes to law against brother, and that before unbelievers? To have lawsuits at all with one another is already a defeat for you. Why not rather suffer wrong? Why not rather be defrauded?”
- Of course, this applies only if the person owing you money is a fellow believer. The Bible doesn’t say that you can’t sue someone outside the church. If you own a business, you may someday be forced to take someone to court for non-payment, simply to keep your business going.
- That’s not to say you have no recourse within the church. If someone rightfully owes you money and doesn’t pay, there’s a four-step process for reconciling the issue.
- First is to put the matter into perspective. You shouldn’t be surprised if another believer attempts to defraud you. Romans 3:23 reads, “For all have sinned and fall short of the glory of God.”
- With that in mind, consider how Jesus treated sinners, with kindness and patience. Avoid confrontation. A good way to do that is by praying for the one who owes you money. You might say to God: “Heavenly Father, I lift this person up to you and put this situation in your hands. Please give me wisdom. Please bless this person financially so they will never feel the need to borrow in the future. Your ways are not our ways. Please use this situation to give glory to You and guide my steps. Help me act as Christ would, showing mercy, that others might see and be drawn to you In Jesus’ name, Amen.”
- The next step is to meet with the person who owes you money. In Matthew 18:15 Jesus says, “If your brother sins against you, go and tell him his fault, between you and him alone. If they listen to you, you have won them over.” That means keeping the matter private for now. Don’t grouse about it to your spouse or friends and certainly not on social media.
- The idea is to show respect for the other person so their heart might be softened. The real goal is reconciliation. Getting what you’re owed is secondary. Be willing from the outset to forgo payment if need be.
- If meeting privately with the person doesn’t work, step three is to take other Christians with you for another meeting. Jesus goes on to say in verses 16 and 17: “If they will not listen, take one or two others along, so that “every matter may be established by the testimony of two or three witnesses.” If they still refuse to listen, tell it to the church; and if they refuse to listen even to the church, treat them as you would a pagan or a tax collector.
- Now, that seems pretty drastic, but we’re entering the realm of church discipline. It’s important to understand that this isn’t to punish the individual, but to help him or her see the error of their ways, repent, and make good.
- If this person rightfully owes you money and refuses to pay, it’s a sin and the Church needs to deal with it. Just as with adultery or any other type of public sin, the Church must exercise proper discipline or it ceases to honor God. If the offender refuses to repent, Jesus Himself says they should be treated as an unbeliever.
- And finally, step four. You must continue to show humility, respect and love for the offender. You must remember that you represent Christ and that you trust Him for the outcome.
- People are  watching you. Think of the situation not as a win/lose proposition, but as an opportunity to express the love of Christ in a difficult situation. As believers, we should be better than the world at resolving conflict.
- Pray that the Holy Spirit will show His power through this process, that God’s will should be accomplished through you, whether you’re paid or not. Either way, you must forgive that person, as Christ has forgiven you.
- Mark 11:25 reads, “And whenever you stand praying, forgive, if you have anything against anyone, so that your Father also who is in heaven may forgive your trespasses.”
Next, Rob answers these questions at __800-525-7000__ or via email at [askrob@FaithFi.com](mailto:askrob@faithfi.com?subject=Faith%20and%20Finance%20Listener%20Question&%20Finance%20Listener%20Question):
- Should you stay in a 40-60 stock to bond allocation if your IRA is down about 13% since the beginning of 2022, you are age 70 are now claiming your maximized Social Security benefit and therefore don't need to draw on your portfolio?
- Will there be a decline in housing prices over the next few years and how should you navigate a home purchase with an FHA loan?
- If you are age 70 and retiring this year, should you reallocate your $300,000 Thrift Savings Plan from the C and S Funds into the fixed rate G Fund if you won't need to rely on the account for income? (Rob referred the caller to faithfi.com and the Find a CKA link).
- Is it better to pay your Home Equity Line of Credit down monthly or to make additional payments every month now that the interest rate has increased?
Be sure to check out the rest of [FaithFi.com](https://www.faithfi.com/) to access our books and our many free helpful resources. You can also find us on [Facebook Faith and Finance (Live)](https://www.facebook.com/faithfiofficial) and join the conversation. Thanks for your prayerful and financial support that helps keep Faith and Finance (Live) on the air. And if you'd like to help, just click the [Give](https://moneywise.netviewshop.com/nov22web) button.

“The wicked borrow and do not repay, but the righteous give generously.”  Psalm 37:21. As Christians, we know that payin

When Someone Owes You Money

Credit card debt fell sharply during the COVID shutdowns. Unfortunately, it’s becoming a big problem again. Folks cut spending and used stimulus money to pay down credit card debt during the pandemic. But what a difference a year makes. Rob talks about it with Neile Simon first and how you can get help with your credit card debt. Neile Simon is a Certified Credit Counselor with Christian Credit Counselors, an underwriter of this program. Get more information at <a href="https://www.christiancreditcounselors.org/">ChristianCreditCounselors.org</a><ul><li>One of the few positive outcomes of the COVID crisis was that people paid down credit card debt. But I guess you’re here to report that was short-lived?</li><li>We’re also seeing sharp increases in home foreclosures, up 115% in 2022 and delinquent auto loans, up more than 25%. But credit card debt is one area where folks CAN make real progress, relatively quickly. Tell us about that.</li><li>This isn’t just a quick fix; the benefits of setting up a debt management plan with Christian Credit Counselors have a lasting effect, wouldn’t you agree?</li><li>Why is this a biblical approach to ending credit card debt?</li></ul>On-Air Mention:<ul><li>Our featured scripture verse this week is from Roman 13:7 which says, “Give to everyone what you owe them: If you owe taxes, pay taxes; if revenue, then revenue; if respect, then respect; if honor, then honor.” That’s good news from God’s Word today. We feature a different scripture passage each week in our Weekly Wisdom email, and it’s a free subscription. Join the thousands of others who are receiving it by going to faithfi.com and click “Sign Up” to register.</li></ul>Next, Rob answers these questions at <a href="tel:8005257000">800-525-7000</a>
or via email at <a href="mailto:askrob@faithfi.com?subject=Faith%20and%20Finance%20Listener%20Question&amp;%20Finance%20Listener%20Question">askrob@FaithFi.com</a>:<ul><li>If you have a life-long goal to give away as much as you can but also realize this instills a problem with pride in that, how should you deal with this?</li><li>How do balance your concerns of your finances with the growth of you faith?</li><li>If you can purchase a new construction home through a VA loan and get a interest rate around 5%, then rent it out as an AirBnB, how can you determine if this is a good idea?</li><li>If you realize you're getting "on in your years" and wish to give your grandson your home, should you put his name on the deed to avoid probate?</li><li>Lewis called to tell us he had brain surgery that nearly bankrupted him but by following the principles learned in the MoneyWise/Faith&amp;Finance program, The Lord enabled him to pay all his debts and slowly increased his credit rate where he now has a perfect credit rating and a surplus of money in his account.</li><li>Regarding the student loan forgiveness, how do we apply that principle to the PPP loans that were abused so much?</li></ul>&lt;-- Jerry Bowyer – Market Analysis --&gt;<ul><li>We see many testimonies about God's faithfulness as our provider, that's the way God designed, not only our lives to work, but also nations, right?</li><li>How do we apply that Biblical world view to apply to look at what's going on in the United States?</li><li>We're about to head into a time when a lot of shareholder meeting occur, and you spend time in those meetings, give us a preview of what is heading our way?</li></ul>Be sure to check out the rest of <a href="https://www.faithfi.com/">FaithFi.com</a> to access our books and our many free helpful resources. You can also find us on <a href="https://www.facebook.com/faithfiofficial">Facebook Faith and Finance (Live)</a> and join the conversation. Thanks for your prayerful and financial support that helps keep Faith and Finance (Live) on the air. And if you'd like to help, just click the <a href="https://moneywise.netviewshop.com/nov22web">Give</a> button.

Listen to MoneyWise Live each weekday at 4pm EST on Moody Radio.

MoneyWise Live

Credit card debt fell sharply during the COVID shutdowns. Unfortunately, it’s becoming a big problem again. Folks cut spending and used stimulus money to pay down credit card debt during the pandemic. But what a difference a year makes.

Help For Credit Card Debt With Neile Simon

We're called to be good stewards of God's resources, but being financially faithful amid the business of modern life isn't easy. Today we'll tell you how to remain faithful in managing your money.<ul><li>It's easy to feel overwhelmed these days and be tempted to take the path of least resistance with money. Maybe it's easier to grab a cup of coffee on the way to work than to make it yourself. Or to hit a fast food drive-thru rather than making dinner for the family.</li><li>But those expenses add up quickly, and before you know it, there isn't quite enough money left over at the end of the month to meet your obligations and you're charged a late fee. It doesn't have to be that way. With preparation, you can avoid it.</li><li>TIPS TO REMAIN FAITHFUL WITH MONEY</li><li>First, carve out some time each week for prayer. Ask God for wisdom in managing your money. James 1:5 tells us, "If any of you lacks wisdom, let him ask God, who gives generously to all without reproach, and it will be given him."</li><li>Next, you need a spending plan. It's essential for managing your money faithfully. If you're not living on a budget, download the free FaithFi app at your app store. It has three different ways to set up a budget with step-by-step instructions. The FaithFi app will also track your expenses so you stay on budget.</li><li>Developing your budget will show clearly whether you have enough income to meet your expenses. If you don't, there are really only two options. You can either cut your expenses or look for ways to increase your income.</li><li>Trimming the budget may be easier so look at the categories where you spend a lot of money first. You may not be able to do much right away with your rent or mortgage … but what about food?</li><li>Groceries and eating out can gobble up a big chunk of your budget. But planning can save you a lot of money. Limit getting carryout to 1 or 2 times a month. Instead, draw a menu plan for the week. Make a list of the items you'll need to prepare those meals before you go to the store.</li><li>Actually, shopping online for groceries can save you money because you're not tempted by impulse buying and you see the running tab of the items you choose. That will help you stay on budget by not overspending in your food category. Most of the bigger chains offer online shopping now, often at no charge.</li><li>Then, look for other ways to trim your spending. Are you still subscribing to streaming services you're not using? Can you form a babysitting pool with other parents? Or maybe look for free activities in your community? Every little bit helps.</li><li>Once your budget is balanced, ideally you have something left over. This is also essential. Unless you can learn to live below your means, you'll be running up debt every month. More on that in a bit.</li><li>Now, the next step in staying financially faithful is to take that leftover money, even if it's only a little, and begin saving up your emergency fund. You absolutely must have a reserve of cash to meet unexpected expenses … things outside your budget such as a furnace needing repair or a medical bill.</li><li>Start with a goal of $1.500. Then keep going, adding bit by bit. You want to eventually save 3 to 6 month's living expenses in your emergency fund. It may take a long time and you'll have setbacks along the way, but the peace of mind you'll get once you have your emergency fund in place will be worth the effort.</li><li>Okay, I mentioned debt earlier. If you have it, you know first hand that Proverbs 22:7 is true, "...the borrower is slave to the lender." Make a plan to get out of debt. You can split your leftover money, applying some to saving up your emergency fund and the rest to paying down consumer debt.</li><li>Use the snowball method to speed this up. Pay all of your minimum payments, but more on the account with the smallest balance. When that's paid off, put your extra money on the next smallest balance. Rinse and repeat until the debt is gone.</li><li>If you're having trouble meeting those minimum monthly payments, contact our friends at Consumer Credit Counselors to get on a debt management plan. They can get your interest rates reduced so that you pay off your debt 80% faster.</li><li>Once your consumer debt is paid off, you can turn to retirement savings. Strive to save 10-15% of your income in a tax-advantaged plan like an IRA or 401k. If your employer offers matching contributions to a 401k, you want to do this as quickly as possibly to take full advantage of that benefit. It's free money.</li><li>All of these things are important, but perhaps the best way to be financially faithful is to remain generous. Strive to be a percentage giver to your local church, no matter what's going on in your life. And trust that God will provide. Jesus says in Matthew 6:33, "Seek first the kingdom of God … and all these things will be added to you."</li><li>Those are the ways you can remain financially faithful in the busiest of times.</li></ul>On this program, Rob also answers listener questions: <ul><li>When taking money out of a TSP, is it taxed as income?</li><li>How do you determine if now is a good time for you to buy a home?</li><li>How can you help preserve wealth for an elderly parent? </li></ul>Remember, you can call in to ask your questions most days at (800) 525-7000. Also, visit our website at <a href="https://www.faithfi.com/">FaithFi.com </a>where you can join the FaithFi Community, and even download the free FaithFi app.

Politics by its very nature is controversial perhaps none more so than the administration’s move to forgive student loan

Student Loan Forgiveness With Jerry Bowyer

Despite normal test results, missionary and author Kimberly Rae Thigpen struggled with debilitating health issues. When her health problems required her and her family to return to the United States after serving as missionaries in Uganda, Kosovo and Indonesia, all she could see was lifelong disability and an overwhelming stack of prescriptions. After an MRI, doctors finally discovered the source of her medical difficulties.

God used her circumstances to build her faith. He also opened the door for her to be mere hours away from one of the few doctors who could treat her rare condition—and because of her Gold level membership with Christian Healthcare Ministries, Kimberly was able to get the care she needed.

Want to learn more about health cost sharing and CHM?

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Christian Healthcare Ministries (CHM) is a budget-friendly, biblical, and compassionate healthcare cost solution for Christians in all 50 states and around the world.

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Videos

God used her circumstances to build her faith and provide for her financial needs during treatment.

Author Suffers Mysterious Illness - Kimberly Rae Thigpen

How does God's Word address the topic of debt? Ron Blue shares his insight based on his years of teaching experience.

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

What is a biblical view of debt?

See how God provides in a miraculous way for a widow in debt and how he can provide for you too.

Watch how God provides in a miraculous way for a widow in debt and how he can provide for you too.

A Debt Story - Five-Minute Finances

With a spiritual framework on God's ownership, Ron Blue gives his perspective on making this financial decision.