In the world of finance, the term margin means the difference between what an item costs you and what you sell it for. In other words, profit margin. A business doesn’t survive without it. And having margin in our lives is just as important. On this MoneyWise Live, helping you balance the resources God’s given you. MoneyWise Live host, financial teacher, speaker and President of Kingdom Advisors, Rob West discusses these topics.
- Rob defines profit margin from a business perspective.
- When it comes to profit margin, what is sufficient and how much do you need to be successful?
- How do we apply this idea of margin to daily our lives?
- So time with God isn’t something we have to do, it’s something we “get” to do, right?
- Then what does margin with our personal finances look like?
- So, if income won’t balance with the outgo, what do we do if we’re in that boat?
Next, Rob and Steve answer these questions at 800-525-7000 or via email at Questions@MoneyWiseLive.org:
- Do you tithe on money you borrow?
- Is there a certain amount of cash you should keep with your or at home?
- If you withdraw from investments, do you tithe on the withdrawal?
- If you have money in a savings account that only pays 1% and are leery of other investments, are there options in between?
- If you've think you've buried yourself in debt with $10,000 of credit card debt, $5000 student loan debt and a $28,000 car loan, what are the first steps to take to fix this issue?
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