Starting Over Financially

Rent or own

I’m Miriam  Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money M  Housing is a big budget item.  Let’s look at it carefully Psalm 61:4 says I long to dwell in your tent forever and take refuge in the shelter of your wings.  But here on earth we need a roof over our head.   V  Besides just comparing the rent verses the monthly mortgage payment, there are other expenses: Property taxes, maintenance, insurance, association fees. In most markets, you can research the break- even point where it is better after a certain amount […]

Credit score # 4

I’m Miriam  Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money M Most worthy goals aren’t achieved quickly.  Small steps, consistent effort Improves your credit score.  Goal more funds to God honoring places. V We’ve talked about payment history and credit utilization. Two more are: length of credit history  15 percent of the total credit score is based on the length of time each account has been open and time since the account’s most recent action.  New credit and credit mix: Each comprise 10 percent of the total credit score   All these factors have […]

Credit score # 3

I’m Miriam  Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money M  Have you started watching where your money goes more closely?  Its all God’s, ours on loan.  That’s good reason so spend it carefully and wisely.  A low credit score means you’re paying high interest.   V Its good to understand how your credit score is determined  Here are two factors: the first is payment history: 35 percent of the total credit score based on making consistent, timely payments. The second is credit utilization:  30 percent of the total credit score is based on […]

Credit score # 2

I’m Miriam  Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money M  Why does your credit score matter?  Lower scores mean you pay higher interest rates on home equity loans, mortgages, vehicles loans and credit cards.  Wouldn’t you rather direct that money to what you value?   V Here are reasons you should check your credit score.   To know if you indeed did open the account or if someone has fraudulently opened an account in your name.  This could be a sign of identity theft. Any old or foreign account should be addressed […]

Credit score # 1

I’m Miriam  Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money M Credit scores are more important as we use less cash and more credit cards.  First, Scripture emphasizes no debt.  If you use it, pay it fully each month. Credit scores called FICO range from 300–850. V  Understand that your credit score is only a measure of how much debt you have and how faithfully you pay regularly on it.  It is not a measure of wealth, it only possibly allows for more access to more credit in other words debt.  You are […]

Downsizing

I’m Miriam  Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money M Vintage folks often want to downsize and we’ve spent a lifetime collecting stuff our children don’t want.  Its loving to address that rather than leave stuff for family to sort through. V Today’s young adults want household goods that are temporary, disposable.  Have that conversation with family so you know what they may want.  Begin to donate to charity or consignment stores everything you can emotionally part with.     Someone may want or need that item who you’ve never met. M Realize that […]

A will

I’m Miriam  Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money M I learned of a recent widow whose husband had no will.  They owned commercial property.  Oh, for loving spouses who wisely look out for each other before tragedy strikes. V  Some people avoid getting a Will or Trust because of the cost or the reminder of their own mortality.  But this does a great disservice to their families, loved ones, and Kingdom work that could otherwise benefit. The cost of preparation is far less than probate, and the death rate for humans […]

Canceling life insurance # 2

I’m Miriam  Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money M Scripture speaks to dependence on others for financial support.  I Thessalonians 4:  11, 12.  You should mind your own business and work with your hands, just as we told you, 12 so that your daily life may win the respect of outsiders and so that you will not be dependent on anybody. V  Challenges to that come not only in the job market, but  cost of living has outpaced wage growth for several years now.  Our economy and jobs market is shifting  with […]

Canceling life insurance

I’m Miriam  Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money M  I recently met a new widow. Though her faith is vibrant, she’s struggling in many areas.  Not the least of which is her finances.  She revealed a sad fact.  Just days before her husbands unexpected death, he had canceled his life insurance policy with her permission. V What seemed like a frugal move at the time is changing her reality today.  Fortunately her adult son sat with her and they created a stringent budget. She cringed telling me about it.  Budgets may […]

Honoring parents

I’m Miriam  Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money V God gave Moses 10 basic laws for the foundation of Israel.  Commandment # 5, “Honor your father and mother so that you may live long in the land the Lord your God is giving you.”  Exodus 20:12   In spite of the volumes of law in our land, we have none specifically related to our commitment to our parents.  That absence speaks loudly.   M As I serve widows, I sadly hear of children ignoring their needs, even suing them.  Yes, it […]

Age spending well.

m Miriam  Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money   M Vintage folks are often fearful of spending down their nest egg.  Why?  Often there are uncertainties about the future, fluctuations in that nest egg, unpredictable health care issues.  Sometimes its simply frugal habits. V Its good to have a plan.  Aging itself slows spending, less travel, less buying.  We encourage you to enjoy the fruits of saving, take that trip and buy flowers.  Give to your favorite charities.  Give to family with a warm hand.  Enjoy seeing the difference your generosity […]

Insurance: umbrella

I’m Miriam  Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money   M Most folks have insurance on their living space and vehicles.  Another important insurance is the umbrella policy.  If you are blessed to own your own home and are hospitable its important.   V An umbrella policy is a type of insurance that provides liability coverage over and above your automobile or homeowners insurance policy.  For example, if someone is seriously injured on your property or related to your vehicle, their costs might be more than your insurance provides.  They might sue […]