Faith & Finance Podcast Por Faith & Finance arte de portada

Faith & Finance

Faith & Finance

De: Faith & Finance
Escúchala gratis

Faith & Finance is a daily radio ministry of FaithFi, hosted by Rob West, CEO of Kingdom Advisors. At FaithFi, we help you integrate your faith and financial decisions for the glory of God. Our vision is that every Christian would see God as their ultimate treasure. Join Rob and expert guests as they give biblical wisdom for your financial journey and provide practical answers to your pressing financial questions. From budgeting and debt management to investing and stewardship, Faith & Finance equips listeners with insights to handle money wisely and live generously for God's Kingdom. Listen now or ask your question live by calling 800-525-7000 each weekday from 10-11 a.m. ET on American Family Radio and 4-5 p.m. ET on Moody Radio. You can learn more at FaithFi.com.Copyright 2023-2025 FaithFi: Faith & Finance Cristianismo Economía Espiritualidad Finanzas Personales Ministerio y Evangelismo
Episodios
  • Top Credit Report Myths with Neile Simon

    Top Credit Report Myths with Neile Simon
    Mar 9 2026
    What do Bigfoot and credit reports have in common? They’re both surrounded by myths. While we may never settle the question of an eight-foot-tall creature wandering the woods, we can clear up the confusion around credit reports. On this episode of Faith & Finance, Neile Simon, a Certified Credit Counselor with Christian Credit Counselors, stops by to clear up some of the most common misconceptions about credit reports and credit scores. Understanding how credit really works can help you avoid costly mistakes and make wiser financial decisions. Myth #1: Paying Off Debt Instantly Fixes Your Credit Paying down debt is always a good step—but it doesn’t instantly produce a perfect credit score. A credit score reflects your history of borrowing and repayment. Lenders use it as a snapshot of how responsibly you’ve managed credit over time. That means improvement takes patience. The most important habit is simple: consistently pay your bills on time. Over time, that steady pattern will strengthen your credit profile. And beware of anyone claiming they can “fix your credit overnight.” Building good credit always takes time. Myth #2: Credit Counseling Ruins Your Credit Score Many people fear that seeking help will damage their credit—but that’s not true. Participating in a credit counseling program is considered a neutral mark on your credit report. What can affect your score is closing accounts, not the counseling itself. In fact, nonprofit credit counseling agencies often help people regain control of their finances through structured debt management plans. If you seek help, make sure the organization is accredited and nonprofit. That’s why Christian Credit Counselors is the only organization we recommend for credit counseling and debt management. Myth #3: Canceling Credit Cards Boosts Your Score Closing credit cards may seem responsible, but it can actually lower your credit score. Why? Because it reduces your available credit, which increases your credit utilization ratio—a key factor in credit scoring. If you have credit cards with zero balances and no annual fees, keeping them open can actually help your score. If you must close accounts, do it gradually—perhaps one every six months—to minimize the impact. Myth #4: Too Many Inquiries Hurt Your Score This myth was once more accurate than it is today. Credit bureaus now recognize that consumers shop for loans. If you’re applying for a mortgage or car loan, multiple inquiries within a short window—typically about 45 days—are counted as a single inquiry. That means you can compare offers without damaging your credit score. And when it comes to checking your own credit report, that’s considered a soft inquiry, which does not affect your score at all. In fact, it’s wise to check your credit regularly to monitor for fraud or mistakes. Myth #5: You Don’t Need to Check Your Credit If You Pay Bills on Time Even responsible borrowers should check their credit reports. Studies suggest that a large percentage of credit reports contain errors. Reviewing your report once or twice a year allows you to catch mistakes or fraudulent activity early. You can obtain free reports from all three major bureaus at AnnualCreditReport.com. Correcting errors can take time—sometimes up to 90 days—so staying proactive is important. Myth #6: All Credit Reports Are the Same There are three major credit bureaus: Equifax, Experian, and TransUnion. Each may contain slightly different information because creditors don’t always report to all three bureaus, and updates may occur at different times. Different lenders may also use different scoring models depending on the type of loan—auto, mortgage, or credit card. For the most complete picture, it’s wise to review all three reports. Myth #7: Divorce Automatically Removes Joint Debt Divorce agreements may divide debts between spouses—but they don’t change the original credit contract. If your name remains on a joint account, you’re still legally responsible for the debt. If the other person misses payments, your credit score can suffer too. That’s why it’s important to close joint accounts or refinance debts into one person’s name whenever possible. Myth #8: All Negative Marks Disappear After Seven Years Some negative items disappear after seven years—but not all. For example: Chapter 13 bankruptcy: up to 7 yearsChapter 7 bankruptcy: up to 10 yearsPositive closed accounts: can remain for 10 years The good news is that positive information usually stays longer than negative information, helping your score recover over time. Myth #9: You Can Pay Someone to “Fix” Your Credit Many companies promise fast credit repair—but most simply send dispute letters to creditors. If the information on your credit report is accurate, it cannot be removed. That means many consumers pay fees without seeing real results. The truth is, you can dispute errors yourself for free. Christian Credit ...
    Más Menos
    25 m
  • New Baby, New Budget: Your Financial Checklist for New Parents

    New Baby, New Budget: Your Financial Checklist for New Parents
    Mar 6 2026
    “Behold, children are a heritage from the Lord, the fruit of the womb a reward.” - Psalm 127:3 Children are a precious gift from God—an inheritance to cherish and steward well. Along with the joy of welcoming a new baby comes a new layer of responsibility, including financial decisions that can shape your family’s future. A thoughtful checklist can help bring clarity and peace during a season that is both beautiful and demanding. Here are several key financial steps to consider after bringing a newborn home. Add Your Baby to Health Insurance In the midst of sleepless nights and constant diaper changes, don’t forget to update your health insurance. Most plans allow about 30 days after birth to add your baby to your policy. While reviewing your coverage, confirm that pediatric care, vaccinations, and potential hospital visits are included. The birth of a child qualifies as a life event, meaning you can make necessary adjustments to your plan. Review Your Life Insurance Coverage Life insurance is essential for parents—not for the baby, but for you. A common guideline is to carry term life insurance equal to at least 10 times the primary breadwinner’s salary. Don’t overlook the caregiving spouse either. Replacing the cost of childcare, household management, and daily care would be significant, making coverage for both parents wise and necessary. Update Your Budget A new baby brings new expenses—and often quickly. Consider creating a dedicated “baby” category in your budget to account for diapers, wipes, clothing, feeding supplies, and medical needs. You may need to shift funds from other areas to stay balanced. Planning now can ease stress later and help you adjust as needs evolve. Create or Update Your Will A will is not just about distributing assets—it’s where you designate a guardian for your child. While this can feel like a difficult decision, having a plan in place is essential. After prayerful consideration, choose someone who would care for your child with wisdom and love. You can always revise your decision later. A clear will can also prevent confusion or conflict and ensure your assets pass according to your wishes. As Proverbs 13:22 reminds us, “A good man leaves an inheritance to his children’s children.” That inheritance includes not only finances but also a legacy of faith and stewardship. Strengthen Your Emergency Fund If you don’t already have an emergency fund, aim to save three to six months of living expenses. If you had one before your baby arrived, you may need to increase it to reflect higher monthly costs. Unexpected medical bills, job changes, or major purchases—such as strollers or childcare—can quickly strain finances. A strong emergency fund provides stability during uncertain moments. Update Your Taxes and Withholding With a new child, you can claim an additional dependent on your tax return, which may qualify you for a child tax credit of up to $2,200 per child. You’ll also want to update your W-4 at work so your withholding reflects your new household size. This may increase your take-home pay throughout the year. Begin Education Savings Starting early can make a significant difference. A 529 plan allows tax-free investment growth for qualified education expenses, including private K–12 schooling, vocational training, and college. You can open a plan in any state, and family members or friends can contribute to it. New options like the Trump Accounts opening up in July of 2026—are government-seeded investment accounts designed to support future education, business startup costs, or homeownership—are also expanding the ways families can plan ahead. Protect Your Child’s Identity Finally, consider placing a credit freeze on your child’s file with the major credit bureaus. This simple step can help guard against identity theft and prevent unauthorized accounts from being opened in their name. Stewarding the Gift Welcoming a child is one of life’s greatest joys—and one of its greatest responsibilities. Financial preparation won’t eliminate every uncertainty, but it can create stability and margin for what matters most: loving your child and pointing them toward Christ. As you plan, remember that the ultimate inheritance you pass on is not financial—it’s a legacy of faith, wisdom, and trust in the Lord who provides for every season. On Today’s Program, Rob Answers Listener Questions: How can I evaluate whether a ministry is a wise place to give? I’ve received appeals from the Far East Broadcasting Company about outreach into North Korea, but I don’t know how to vet them.At 70 and 75, after health and job setbacks, we want to steward about $30,000 wisely for our kids and 15 grandkids. We’re not experienced investors—what’s the best way to handle this at our stage of life?I began Social Security at full retirement age but still work full-time. My benefit hasn’t been recalculated despite higher earnings. Who ...
    Más Menos
    25 m
  • A Home for This Season with Harlan Accola

    A Home for This Season with Harlan Accola
    Mar 5 2026
    Homes hold memories. They hold family history, meaning, and for many, a lifetime of love. But as we age, the very places that once felt secure can quietly become harder—and riskier—to live in. Most homes in the U.S. were never designed for aging bodies. Yet many older adults feel emotionally and financially locked in. The result? Families delay important housing decisions until a crisis forces change. Today, we were joined by Harlan Accola, who leads the reverse mortgage team at Movement Mortgage, about a lesser-known option that may help older adults move into safer homes—without taking on new required monthly payments. The Hidden Danger: Falls at Home Falls are far more common—and costly—than most people realize. Roughly 30 million older Americans fall each year. About one in five of those falls results in serious injury, often leading to hospitalization. The direct medical costs alone total nearly $50 billion annually. But the emotional and lifestyle costs for families can be even greater. What’s sobering is where these falls happen. Not in extreme situations—but in ordinary places: StairwaysBathroomsEntrywaysNarrow hallways These everyday features become obstacles as mobility changes. Why So Many Homes Don’t Fit Aging Adults Most homes were built decades ago for young families in different stages of life. Only a small percentage include basic accessibility features such as: Step-free entriesMain-floor bedroomsMain-floor bathroomsWider doorways and hallways As a result, stairs, tubs, and tight spaces often push older adults toward assisted living or nursing homes—not because they want to move, but because their homes no longer support their safety. Why Many Families Feel “Stuck” Even when homeowners recognize their house isn’t ideal anymore, they often hesitate to move. There are two major reasons: 1. Emotional Attachment This is the home where children were raised, and milestones were celebrated. Letting go isn’t easy. 2. Financial Lock-In Many retirees either: Have very low mortgage rates (2–3%), orOwn their homes outright They worry that selling means taking on a new mortgage payment—something they might regret later in life. So they stay…often until something goes wrong. A Little-Known Option: Reverse Mortgage for Purchase Many people assume a reverse mortgage is only for accessing equity in their current home. But there’s another option: using a reverse mortgage at the point of purchase. Here’s how it can work: A homeowner sells their current home.They use the proceeds to purchase a new, safer home.A reverse mortgage helps cover the difference. For example: Sell a $300,000 home.Purchase a $500,000 home.Use a $200,000 reverse mortgage for purchase. The key distinction? No required monthly mortgage payments for as long as the homeowner lives in the home. That opens the door to: Newer constructionEnergy-efficient homesLow-maintenance propertiesBetter design for aging in place A Shift in Thinking: Prevention, Not Reaction One of the wisest principles in Scripture is found in Proverbs 27:12: “The prudent see danger and take refuge.” Housing decisions in later life should reflect that kind of prudence. Rather than waiting for: A fallA wheelchairA medical emergency Families can proactively ask: How can we use the housing wealth we’ve built to improve safety and quality of life—while we’re still healthy? When purchasing a home for the “fourth quarter” of life, it shouldn’t just be your best home—it should be your safest home. Stewarding Home Equity Wisely Interestingly, two-thirds of retirees still carry a mortgage. Even when downsizing, some may still need financing. A reverse mortgage for purchase can allow retirees to: Avoid required monthly paymentsPreserve some cash for investments or future needsMove into a safer homeMaintain flexibility Like any financial tool, it isn’t right for everyone. But for some families, it may provide a path forward they didn’t realize existed. Moving Forward Housing is more than real estate—it’s stewardship. It’s about safety, dignity, and wise preparation for the season ahead. If you’d like to learn more about whether a reverse mortgage for purchase could fit your situation, you can explore your options at Movement.com/Faith. As with any major decision, seek wise counsel, pray for clarity, and take steps not just to protect your assets—but to protect your well-being. On Today’s Program, Rob Answers Listener Questions: My grandfather set up 529 plans for my two older kids. If there’s money left after they graduate, can I transfer it to my younger daughter? And once she’s finished, could I split any remaining funds into separate accounts for each child’s future family?I often hear advice to put 10% into precious metals for retirement. What’s your take—and is there a biblical perspective on that? Also, in retirement, when we’re living off savings, how should we think about tithing? Do we ...
    Más Menos
    25 m
Todavía no hay opiniones