MoneyWise Live | January 2, 2019

A Matter of Trust

Show Notes

Whom do you trust?  Your spouse?  Your friends?  Your employer?  Our currency is inscribed with the words, “In God We Trust,” but do we?  When it comes to trusting in something or someone, are we willing … to put it to the test?

There’s a lot of confusion over the difference between believing something... and trusting in it.  Here are some points to remember:

  • Actual believing is at the heart of our salvation.  True believing happens when you accept that God and God alone -- through Jesus Christ -- is the one responsible for your salvation.
  • "For by grace you have been saved through faith.  And this is not your own doing; it is the gift of God, not a result of works, so that no one may boast..." - Ephesians 2:8 & 9
  • Most people would probably prefer to do the work of salvation for themselves but scripture says that's just not possible, we are not capable without trusting in God for His salvation.
  • The trust part comes in when we accept God's gift and put all our hope on that gift because we realize it’s the only way to have eternal life with God.

Next, they answer your questions at (800) 525-7000 and questions@moneywise.org about the following:

  • If you're in your 70's and in good health, should you continue to pay long term health insurance?
  • With $200000 in the bank, if you don't know anything about the Stock Market, should you avoid investing?
  • Once you've paid off a credit card, is there any credit score advantage to leaving the account open?
  • Is a family of 5, with an annual household income of $50000, 15 years on a $1200/month mortgage, $30000 retirement, $14000 savings and no appreciable debt on the right track?
  • How do Mutual Funds work?  Is there a minimum to invest in them?
  • With a 30 year mortgage at 7% and 17 years left, should you consider refinancing that loan considering the current rates?
  • With $150000 in student loan debt and 15 years before retirement, what's the best way to dig out of debt?

Rob referenced these Bible passages.  Here they are for your reference:

  • Mark 6:8 - "He charged them to take nothing for their journey except a staff — no bread, no bag, no money in their belts."  Jesus wanted them to understand that everything would be provided for them.
  • Luke 12 - "And do not seek what you are to eat and what you are to drink, nor be worried.  For all the nations of the world seek after these things, and your Father knows that you need them.  Instead, seek His kingdom, and these things will be added to you.  Fear not, little flock, for it is your Father's good pleasure to give you the kingdom. Sell your possessions, and give to the needy. Provide yourselves with moneybags that do not grow old, with a treasure in the heavens that does not fail, where no thief approaches and no moth destroys. For where your treasure is, there will your heart be also..."
  • Ephesians 2:8 & 2:9 - "For by grace you have been saved through faith. And this is not your own doing; it is the gift of God, not a result of works, so that no one may boast..."

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