MoneyWise Live


Common Budget Questions

December 27, 2018

Budgeting or setting up a spending plan really isn’t difficult but still if you’ve never done it, questions come to mind.  And those questions are what we’ll try to answer on this show called MoneyWise - not because we’re wise…but because God is.  

On this MoneyWise Live, Rob West answers these Common Budget Questions:

  • How many categories should I have in my budget?
  • Do I have to have an emergency fund?
  • Is a debit card preferable to using cash or a credit card?
  • If you get paid on commission, so how do I budget?
  • What if you're self employed, how do you budget?

Next, Rob and Steve answer these questions at 800-525-7000 or via email at Questions@MoneyWiseLive.org:

  • If you've paid your first mortgage but still have a second mortgage of about $40,000, should you consider refinancing that with a 10 year loan at 4.3%?
  • Has crypto currency has been somewhat stabilized recently, what is the future of crypto currency and what is the advantage of using it opposed to the US dollar?
  • Does a parent's credit score affect children's score?
  • What is a self-directed IRA?
  • If you're interested in buying a car soon and want to keep your money in liquid savings and are looking at Ally One Bank who's offering 2.0% APY FDIC insured, is this OK?
  • If you have a 401(k), a Roth IRA and a pension and are about to retire, should you roll all of these funds into one and if so, which?
  • If you recently bought a house that needs a little more work, is it wise to borrow from your 401(k)?
  • If you were a federal employee that's recently retired, what's a good place to do some investing now that you've lost your benefit resource?
  • If you feel that you're in a comfortable position financially, is it Biblically wrong to look for further investment gains?

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