Parenting is one of the most demanding and most rewarding endeavors a person can engage in. Trying to influence, shape, and mold another human being to grow up and be a good, productive, and responsible person is difficult. One day you’re the hero, and the next, you’re the villain because kids want to do their own thing, just like the rest of us. __When it comes to teaching kids about money, it’s essential to know when, what, and how to do it because so many major life decisions hinge on it.__

# When do you start teaching kids about money?

Much of the way we think, feel, and believe is shaped in the early years of our childhood. It is the time when our brains form neuro pathways and fully develop. During the first seven years, children are very impressionable as they try to learn and make sense of the world. __An excellent time to begin teaching kids about money is as soon as they become aware of money, which will most like occur between the ages of three and five.__

When your kids begin to ask for things they want, like a toy, a dress, or a coloring book, it’s time to teach them the value of money. I remember talking with our two daughters when they were 5 and 7 years old. My wife, Natalie, and I decided to begin giving them an allowance to teach them about money and encourage completing basic chores to keep our home more organized and clean.

We told them that daddy worked, and he earned a certain amount of money by working. Mommy’s work consisted of taking care of our home and providing for the daily needs of our family, which also included taking care of them. When daddy got paid, the money belonged to the whole family, and since it took everyone’s efforts to keep things running well in our home, we thought it fitting to pay them for doing their part. This system taught them the reward of work as well as the consequence of failing to do their work.

Although every child is different, and some may be more or less curious about money, you must begin asking them questions and answering their questions about money. __Children love to learn at this age, and if you make it fun and easy to grasp the concepts of money, they will show interest and begin learning about it.__

If your child is already past this age group, don’t worry. It’s never too late to begin teaching your kids about money. Depending on their age, you may have to offer more teaching and instruction that provides both the __philosophy of money__ (values and beliefs) and the __practical ways of managing it__ (planning and budgeting).

*For help on finding the best way to educate your child on money, make sure to check out the resources linked at the bottom of the page to assist you, no matter the age of your child.*

# What to Teach Your Kids About Money

The most important part we should teach our kids about money is what it is and what it means. Like so many other topics we teach our children, money is extensively portrayed and taught worldwide. __The world’s perspective on money is often tainted depending on who is teaching it.__ Much, if not most, of the education on finances comes from financial institutions and media outlets that have a financial motivation to cover this topic.

__The best source for financial education is the Bible. God’s word is full of wisdom and instructions about wealth, riches, and money.__ Financial principles like earning, saving, debt, investing, borrowing, co-signing, and many others are clearly defined in the word of God. Teaching our children what God has to say about one of the most important resources they will manage in life is essential because money will impact many of the choices they will make. __Having a proper perspective on it will help them avoid the trappings of money and wealth.__

Equally important is teaching kids how to practically manage money because they will make many mistakes and bad decisions without it. For younger kids, the 3-jar system of money management works great. This is made up of 3 jars labeled, Give, Save, and Spend. The first 10% goes into the Give jar, the next 10% to the Save jar, and the rest 80% goes toward Spending. We used this system until our daughters were 16 years old, and it worked.

Every payday after receiving their allowance, they split the money between these three jars. As they entered their teen years, we encouraged them to save for their first car by putting a bigger percentage of their allowance and any extra money they earned, in the Save jar, while cutting back on Spending. Then, when they started their first job, and the allowance stopped, we helped them create a basic written budget to plan their expenses and learn to keep up with their financial obligations.

Managing money isn’t the tricky part. After all, it’s just basic math; anyone can do it. __The more complicated part of managing money is establishing the correct beliefs and having the right convictions about money.__

# How to Teach Your Kids About Money

__The most effective way to teach your kids about money is to be a good role model yourself.__ “More is caught than taught,” which means that whatever you teach your kids to do will not be as powerful or as convincing as to how you manage money yourself. Being a good role model doesn’t mean you won’t make any financial mistakes. It means that when you do, you’ll be honest about it with your kids and help them see the consequences of bad financial decisions so they’ll avoid them.

![](https://images.squarespace-cdn.com/content/v1/5b28b3e945776e86f5212567/bdafb7d0-0550-4cf2-a25f-92f1d3b0ca7f/deut6.6.png?format=1500w)

Teaching your kids about money is no different than teaching them about any other important topic. The Bible tells us how to teach God’s commandments, principles, and statutes. *“And these words that I command you today shall be on your heart. You shall teach them diligently to your children, and shall talk of them when you sit in your house, and when you walk by the way, and when you lie down, and when you rise.”* (Deuteronomy 6:6-7)

__Teaching kids about money is something we must do intentionally and consistently.__ It’s not an occasional lesson but rather something we teach and instill in them while we talk, listen, share our ambitions for their future, and do all kinds of things together. Teaching them about money should be done in the context of everyday life and every season of life because money, its value, and meaning in life, when properly understood, will equip them for a meaningful and fruitful life.

# Resources

[Raising Financially Freed-Up Kids](https://goodsensemovement.org/product/raising-financially-freed-up-kids-workbook-videos/) - Good Sense Movement
[Give, Save & Spend Teen Video Series](https://compass1.org/product/give-save-and-spend-teen-video-series-student-ebook/) - Compass
[Foundations in Personal Finance](https://www.ramseysolutions.com/store/digital-products?snid=courses.see-all-courses) - Ramsey
[High School & College Courses](https://ronblueinstitute.com/) - Ron Blue Institute

We teach church leaders the biblical perspective on finances.

Christian Stewardship Network

Blog

Trying to shape and mold another human being to grow up and be a productive and responsible person is difficult.

When, What, and How to Teach Your Kids about Money

Art Rainer

## They have no debt, an adequate emergency fund, and have amassed a decent amount in their retirement savings.

## How did they get there, and how can I do the same?

Most people want a silver bullet that immediately leads to financial health. Unfortunately, those silver bullets do not exist.

But while I cannot provide you a silver bullet for immediate financial health, I can provide you a short list of ingredients that, over time, will get you there. These ingredients are not magical, but they are essential. Most will not do these things, but, for those who will, financial health can be obtained.

What are the essential ingredients for financial health? Here are four:

### 1. Trust in God’s Word.

God has a plan for you and your relationship with money. The plan is not complex, but it can be counterintuitive. God’s plan starts with generosity. Yes, the biblical foundation for financial health starts with releasing money, not keeping money. God has designed us, not to be hoarders, but conduits through which His generosity flows. We give, then save, and then live on the rest. Trust in God’s Word and let Him define financial health for you.

> God has a plan for you and your relationship with money. The plan is not complex, but it can be counterintuitive.

### 2. Planning.

According to the U.S. Financial Health Pulse Trends Report, only 36% of households plan ahead financially.  What would happen if you went on a family road trip without an identified destination and plan to get there? For some, that scenario may sound fun. For most of us, it sounds like a stressful nightmare. So, why do we treat our financial journey differently? And why are we surprised when we find ourselves in a stressful, financially fragile mess?

Planning is a necessary ingredient for financial health. You must have a goal and a strategy to get there. The plan doesn’t need to be perfect, but it should be thoughtful. If you are looking for a guide, consider the [8 Money Milestones](https://www.artrainer.com/8-money-milestones).

### 3. Discipline.

Once you have a plan, you must execute it. You will be tempted to do other things with your finances—spending it on a crazy vacation instead of paying off debt. A plan without discipline is bound to fail. Fortunately, technology allows us to automate much of our financial journey. Giving, saving, and paying bills can all be automated. So, take advantage of technology when you are able, and remain disciplined.

> Once you have a plan, you must execute it.

### 4. Patience

I mentioned earlier that there are no silver bullets that lead to immediate financial health. Obtaining financial health takes time. It takes time to pay off debt, save for an emergency, and set aside money for retirement. Don’t get frustrated when your debt is not paid off in six months. Be patient. Those of us who are financially healthy did not get there overnight. Patience was a key ingredient. And it will be for your journey.

## So, those are the four essential ingredients to financial health. It starts with trusting God’s Word. Then, you will need a plan. Once the plan has been created, stay disciplined. Use automation when possible. Financially, do not expect instantaneous results. Be patient. In time, you will get there.

You were meant for more. Your money was meant for more. You and your money are meant for an exciting, adventurous, and satisfying purpose. You were designed to live and give generously. And deep inside you know this and want this.

Savings

They have no debt, an adequate emergency fund, and have amassed a decent amount in their retirement savings.  How?

4 Essential Ingredients for Financial Health

## You may be familiar with the story. In John 6:1-15, we find Jesus and his disciples watching a crowd that had been following Jesus come toward them. Jesus asks his disciple, Philip, where he thought they could buy bread for the crowd, for the crowd had not eaten in a while. Philip stated the impossibility of them providing everyone bread.

But the disciples found a boy with five loaves of bread and two fish, his meal. The boy gives up his food to the disciples and Jesus. Jesus then takes the meal, blesses it, and begins to break it into pieces.

The breaking did not cease. It kept multiplying until everyone in the crowd was full. And even then, there were twelve baskets full of leftovers.

Can you relate to the boy with five loaves and two fish? You feel that your resources are so little and wonder what God could ever do with them. Don’t get discouraged. Keep your hands open. Here are five lessons we learn from the boy in John 6.

### 1. God is in control.

In verse 6, we read these words, *“But he was saying this only to test him, for He Himself knew what he intended to do”* (NLT). Jesus had asked Philip the question about buying bread, not because he wanted a solution, but because he wanted faith. None of what was transpiring caught Jesus off guard. He wasn’t concerned. He was in control. The boy with five loaves and two fish saw this firsthand.

God doesn’t need the money we possess to accomplish His mission. He isn’t in heaven, anxiously wringing his hands, wondering if we will step up financially so His mission can proceed. And if we don’t leverage our resources for His purposes, God will not throw up His arms in exasperation and walk away from the mission dejected. No, God doesn’t need us for His already victorious mission, but He does invite us to participate, to join Him in victory. He is in control. The boy learned this on that day.

### 2. God is about multiplication.

As the boy handed his meal to the disciples and Jesus, he likely wondered what difference such a small amount of food could make among the large crowd. It would not be surprising if the boy assumed he and his meal would be turned away, asked to return to his friend or family. His meal was small, and the need was so great.

But then, Jesus took hold of the food and began to break it into pieces. The small meal turned into a feast that was more than enough to fill the stomachs of the crowd. He takes that which is insufficient and uses it to accomplish His purpose. He took an elderly, childless couple and made a people more numerous than the stars. He used a small group of people in a house to start His global church. Our God can take whatever is given in faith and multiply its impact in unfathomable ways for His mission. God is about multiplication. The boy learned this on that day.

### 3. Multiplication often requires trust.

At some point, the boy had to release the food he possessed. At some point, he had to settle in his heart and mind that the food was not his to hold. At some point, he had to determine that he was not the one who dictated how the food was to be used. Was the boy hungry in that moment? Possibly. Did the boy have doubts whether his food could be helpful? Probably. Did the boy wonder whether his needs would be met? It is likely. But he released the food, nonetheless.

Why would we release the possessions we hold? Trust. Giving and holding possessions loosely requires trust. Trust that God will use the resources for his purposes; trust that God will care for our needs. The boy with the meal saw the few fish and loaves he once held multiply in a miraculous way. In Jesus’s hands the small meal became great. But it took an act of trust to get the meal into Jesus’s hands. Multiplication often requires trust. The boy learned this on that day.

### 4. Multiplication often requires sacrifice.

The boy made a great sacrifice. Much like the widow who gave two coins in the temple treasury, the boy gave all that was in his possession. The act was likely a painful one, maybe not physically painful, but mentally and, possibly, emotionally. The boy went from comfortable, having sustenance, to uncomfortable, having no sustenance.

That is how sacrifice works. Sacrifice drives out comfort. Sacrifice is uncomfortable. But sacrificial giving is what we find celebrated in Scripture. God looked favorably on Abel’s offering because he sacrificed his best. God blessed Abraham because he was willing to sacrifice his son. Jesus pointed out the widow with two coins because she gave all she had. Biblical giving is sacrificial. And God uses the sacrifice to shape the giver’s heart and advance His Kingdom. Multiplication often requires sacrifice. The boy learned this on that day.

### 5. Multiplication is a result of God’s work, not our work.

The boy handed over his meal. This was certainly an act of trust and sacrifice. But the boy did not feed the five thousand. Nor did the disciples feed the five thousand. The boy and the disciples were simply participants. The people were fed by Jesus. Stomachs were full because an act of God took place. Apart from this act, the people would have remained hungry. His act allowed the boy to participate in God’s work.

The same is true for us. God wants us to trust him with our possessions and work to advance his Kingdom. But ultimately, it is not our possessions or work that will cause the multiplication. We give and work, knowing that it is God who is in control, and it is His work that causes multiplication. While we eagerly participate in His mission, He multiplies the bread and fish. Multiplication is a result of God’s work, not our work. The boy learned this on that day.

The boy with two fish and five loaves learned a lot that day. He learned God is in control, and that He is about multiplication. He learn that multiplication often starts with an act of trust and sacrifice. And he learned that while we certainly get to participate, it is ultimately God who brings about the multiplication.

So, if you feel you have little, look to the boy with two fish and five loaves. Remember what he learned that day. Trust God with your resources, and let him multiply those resources in ways you could have never imagined.

Generosity

If you feel you have little, financially-speaking, look to the boy with two fish and five loaves.

5 Lessons Learned by the Boy with Five Loaves and Two Fish

It’s easy to come up with excuses for not living on a budget and we’ve probably heard them all at MoneyWise. 

A lot of “non-budgeters” don’t realize that most people eventually *do* get around to living on a budget, by maxed out credit cards if nothing else. The trick is to set up a plan for spending wisely before you’re *forced* to by overwhelming debt.

Let’s look at some of the top excuses for not having a budget.

First, “I stink at math, so I *can’t* budget.” Sorry, you don’t have to be Albert Einstein to set up a spending plan. 

The free [MoneyWise app](https://www.moneywise.org/manage) not only gives you three different options for setting up a spending plan, it does all the math for you. Download it wherever you get your apps and search for “MoneyWise biblical finance”

Another top excuse is, “My job’s secure, so I don’t have to budget.” We still have low unemployment and workers are in great demand, but doesn’t mean *your* job is bullet proof. 

Companies fail and people get laid off every day (many times by surprise), no matter what the economy’s doing. That’s why everyone needs 3 to 6 months living expenses in an emergency fund, and getting that is just about impossible without a spending plan.

Another excuse is, “I can always fall back on unemployment benefits if I lose my job.” Have you checked out unemployment benefits in your state? They’re usually a fraction of your regular income and by the way, they run out. If that should happen to you and you’re living on a budget and saving, you can make any income go much further.

Then there’s the classic, “It won't happen to me.” Talk about putting your head in the sand! We live in a fallen world, and bad things happen to people all the time. Matthew 5:45 tells us, *“For he makes his sun rise on the evil and on the good, and sends rain on the just and on the unjust.”* So again, you have to be prepared with a budget and an emergency fund.

Some people cringe just hearing the word *budget*. They believe that a budget means “you can’t have any fun.” Then don’t call it a budget. We like “spending plan” better, anyway.

If you stick to one for a few months, you’ll see that just the opposite is true. Living on a spending plan is actually *liberating*. You have the same amount of money. You’re just deciding ahead of time where it goes. 

You still get to enjoy life, even more so, because you’re not running out of money or going into debt. A spending plan means “peace of mind.” That Friday night pizza tastes even better when it’s in your spending plan.

The next excuse is actually true. It’s, “I’m *afraid* to set up a spending plan.” Those folks don’t want to find out how much they’ve been spending on things they don’t really need. 

Like most of life, you have to face up to the task to enjoy the reward. In John 8, Jesus says, *“... you will know the truth, and the truth will set you free.”*

You’ll probably be shocked to find out how much you spend on things like groceries and eating out, but that’s a good thing because it means you have discretionary income that you can better apply in other areas. 

Another excuse for not budgeting that we hear a lot is, “I’ve tried to budget and it didn’t work.” That shouldn’t be a surprise. What life-changing practices work the first time you try them? Try, try again and be encouraged that learning to live on a spending plan truly *will* change your life for the better. 

Finally, we hear, “I don’t need to budget because I’ve always got money left over each month.” That may be true for now, but it’s usually temporary. Living that way leads to “lifestyle creep.” The more money you have available, the more you spend on new things. Raises and tax refunds get gobbled up quickly. Then, if you suffer a loss of income, you’ll wish you still had that money.

If God has blessed you with more than you need right now, that’s even more reason to use it wisely. A spending plan will help you be more intentional about your giving. It’s all God’s money anyway and we should always use it to give glory to Him, with our spending and our giving.

Those are the top excuses for not living on a budget. We hope you’re not using any of them! If you are and need help setting up a budget, you can sign up with one of our volunteer [coaches](https://apisource.moneywise.org/connect). 

Budgeting is the first step to getting control of your finances and it will help you sleep better at night.

You can also __[listen](https://www.moneywise.org/search?q=Excuses%20For%20Not%20Budgeting&videos=true&articles=true&podcasts=true&posts=true&groups=true&events=true&support=true)__ to the related podcast on this topic.

Biblical Wisdom For Your Financial Journey

MoneyWise

Articles

It’s easy to come up with excuses for not living on a budget and we’ve probably heard them all at MoneyWise.

Excuses For Not Budgeting

After two years of government restrictions due to COVID, tourism is expected to reach pre-pandemic levels this year. Rob West gives you some thing to think about as you plan your summer vacation.

The MoneyWise Minute is a great way to be reminded of God's financial principles with actionable items you can easily apply to your daily life.

MoneyWise Minute

After two years of government restrictions due to COVID, tourism is expected to reach pre-pandemic levels this year. Rob West gives you some thing to think about as you plan your summer vacation.

Vacation Tips for 2022

While we may not hear as much about pyramid schemes these days, make no mistake, they’re alive and well. Today on MoneyWise, we’ll help you spot the warning signs to avoid being a victim of these schemes. 
<ul><li>The biggest reason folks fall for pyramid schemes is greed. It’s the desire to make a quick buck. Solomon sure knew what he was talking about when he wrote Proverbs 21:5, “Steady plodding brings prosperity; hasty speculation brings poverty.”</li><li>THE PYRAMID SCHEME</li><li>Pyramid schemes are sometimes also called “Ponzi schemes,” named after Charles Ponzi who operated in the early 1920s.</li><li>Posing as an investing expert, Ponzi guaranteed clients a 50% profit within 45 days or 100% profit within 90 days.</li><li>The first people to buy in actually received those returns, but Ponzi was actually paying those folks with the investments of later investors. As long as greedy people continued to invest, the scheme went on. </li><li>But that meant more and more investors had to be paid, and when not enough new people were lured in, the whole thing collapsed, as all pyramid schemes do. By that time, the scheme had gone on for over a year and cost investors $20 million. That would be $270 million in today’s dollars. Of course, all of this is highly illegal and Ponzi eventually served many years in prison.</li><li>Many such schemes aren’t quite as blatant or obvious as they once were, but they definitely still exist. The leopard has merely changed his spots.</li><li>LEGITIMATE MULTI-LEVEL OR PYRAMID SCHEME?</li><li>It’s almost impossible to google “pyramid scheme” without getting hits that also contain the phrase “multi-level marketing.” And that’s for good reason. Many so-called “MLMs” are actually pyramid schemes in disguise.</li><li>The Federal Trade Commission is charged with protecting the public from such scams. It defines an MLM as a company that sells products or services through person-to-person sales. Some are legitimate, but some are not. </li><li>The FTC says a pyramid scheme MLM can look a lot like the legitimate version and may even sell actual products but warns that it could cost you and the people you’re pressed to recruit a good deal of time and money that you'll never get back.</li><li>Pyramid scheme promoters will lure you with promises of how much you’ll earn. They may tell you that you can quit your job and get rich by selling the company’s products, but the FTC says that’s a lie.</li><li>They also say that most people who get taken in by a pyramid-style MLM eventually realize that they’ll never be able to sell enough product or recruit enough new victims to make any real money. In the end, they lose everything they’ve put into becoming an independent distributor for the pyramid scheme.</li><li>THE WARNING SIGNS</li><li>So how do you spot one of these pyramid MLMs? The FTC has some warning signs:</li><li>Promoters make extravagant promises about your earning potential. Don’t be taken in. Those promises are false. </li><li>Promoters emphasize recruiting new distributors for your sales network as the real way to make money. That’s a dead giveaway. In a legitimate MLM program, your revenue would come from selling the product, not from recruiting family and friends. And think of the damage to those relationships if loved ones are also defrauded. </li><li>Promoters play on your emotions and pressure you to “buy-in now” or you’ll lose the opportunity of a lifetime. They’ll discourage you from taking time to study the company. The FTC says if that happens, “Leave by the nearest exit.” Any company that tries to pressure you to join is one to avoid. </li><li>And finally, distributors buy more products than they want to use or can resell, just to stay eligible for potential … emphasis potential … rewards or bonuses. You can’t make money by selling to yourself. </li><li>Those are the warning signs of a possible pyramid-style multi-level marketing operation. Forewarned is forearmed.</li></ul>On this program, Rob also answers listener questions: 
<ul><li>How do you know when you’re on track to have sufficient retirement savings? </li><li>How do you determine when it’s time to retire?</li></ul>Remember, you can call in to ask your questions most days at (800) 525-7000 or email them to <a href="mailto:questions@moneywise.org">Questions@MoneyWise.org</a>. Also, visit our website at <a href="http://moneywise.org/">MoneyWise.org</a> where you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app.

MoneyWise is a daily radio ministry of MoneyWise Media. Hosted by Rob West and Steve Moore, the program offers a practical, biblical and good-natured approach to managing your time, talents and resources.

MoneyWise with Rob West

Did you hear about the guy who lost everything investing in ancient archaeology? Turns out it was just a pyramid scheme. Being taken in by a real life pyramid scheme is a lot worse than that joke and there are plenty scheme  out there.

Pyramid Schemes Still Exist

Proverbs 18 says when you find a wife you find a good thing. Rob West expands on that by sharing some stats that point to financial blessings gained through marriage.

Proverbs 18 says when you find a wife you find a good thing. Rob West expands on that by sharing some stats that point to financial blessings gained through marriage.

Financial Blessings of Marriage

Did you hear about the guy who lost everything investing in ancient archaeology? Turns out it was just a pyramid scheme. Okay, that was a bad pun, but you know what else is bad? Being taken in by a real life pyramid scheme and there are plenty of them out there. Rob talks about that first. This is MoneyWise Live - biblical wisdom for your financial decisions. Probably the biggest reason folks fall for pyramid schemes is greed, the desire to make a quick buck. Solomon sure knew what he was talking about when he wrote Proverbs 21:5, “Steady plodding brings prosperity; hasty speculation brings poverty.”<ul><li>A little history to explain pyramid schemes - They’re sometimes also called “Ponzi schemes”, named after Charles Ponzi who operated in the early 1920s. Ponzi may not have invented the scheme named after him, but he certainly perfected it until he was caught. Posing as an investing expert, Ponzi guaranteed clients a 50% profit within 45 days or 100% profit within 90 days.</li><li>The first people to buy in actually received those returns, but Ponzi was actually paying those people from later investors. As long as greedy people continued to invest, the scheme went on. But that meant more and more investors had to be paid. Eventually, when not enough new people were lured in, the whole thing collapsed, as all pyramid schemes do. </li><li>By the collapsed, the scheme had gone on for over a year and cost investors $20 million (270 million in today’s dollars.) All of this is highly illegal and Ponzi eventually served many years in prison.</li><li>Investors may be a bit more savvy these days, perhaps not easily taken in by a blatant pyramid scheme offering 50% profit in 45 days. But that doesn’t mean that they have gone away, or that some people still aren’t taken in by them. </li><li>It’s almost impossible to google “pyramid scheme” without getting hits that also contain the phrase “multi-level marketing” and, for good reason, many so-called “MLMs” are actually pyramid schemes in disguise.</li><li>The Federal Trade Commission is charged with protecting the public from such scams. It defines an MLM as a company that sells products or services through person-to-person sales. Some are legitimate, some are not. The FTC says a pyramid scheme type MLM can look a lot like the legitimate version and may even sell actual products, but they warn it could cost you and the people you’re pressed to recruit a good deal of time and money that you'll never get back.</li><li>Pyramid scheme promoters will lure you with promises of how much you’ll earn. They may tell you that you can quit your job and get rich by selling the company’s products, but the FTC says that’s a lie.</li><li>They also say that most people who get taken in by a pyramid-style MLM eventually realize that they’ll never be able to sell enough product or recruit enough new victims to make any real money and, in the end, they lose everything they’ve put into becoming an independent distributor for the pyramid scheme.</li><li>How do you spot one of these pyramid MLMs? The FTC has some warning signs:<ul><li>	Promoters make extravagant promises about your earning potential. Don’t be taken in. Those promises are false.</li><li>Promoters emphasize recruiting new distributors for your sales network as the real way to make money. That’s a dead giveaway. In a legitimate MLM program, your revenue would come from selling the product, not recruiting family and friends. (Think of the damage to those relationships if loved ones are also defrauded.)</li><li>Promoters play on your emotions and pressure you to “buy in now” or you’ll lose the opportunity of a lifetime. They’ll discourage you from taking time to study the company. The FTC says if that happens, “Leave by the nearest exit.” Any company that tries to pressure you to join is one to avoid.</li><li>Distributors buy more products than they want to use or can resell, just to stay eligible for potential rewards or bonuses. You can’t make money by selling to YOURSELF.</li></ul></li></ul>Next, Rob answers these questions at 800-525-7000 or via email at Questions@MoneyWiseLive.org:<ul><li>If you're about to receive an inheritance soon, should you tithe on it?</li><li>If you're going receive about $150,000 of inheritance, have about $500 left at the end of each month, have a decent amount of savings and an emergency fund set up and you have a small personal loan of $38,000 at 5% and a mortgage with a balance of $160,000, are you okay to use the inheritance to pay this debt off?</li><li>If you've heard that legislation had been passed with provision to take away around 30% of people's retirement funds, is this true?</li><li>How is capital gains calculated?</li><li>If you're 66 and you rolled your 401(k) over to Vanguard where it's hasn't earned much and lately it's losing money, should pull the money out and use it to pay off half of a $150,000 balance on your mortgage?</li><li>Where is tithing mentioned in the New Testament?</li><li>If you're frustrated with the recent losses you've been seeing in your retirement account, should you cash it out and put it into an annuity?</li></ul>Be sure to check out the rest of MoneyWise.org to connect with a MoneyWise Coach or access our books and our many free helpful resources. You can also find us on Facebook (MoneyWise Media) and join the conversation. Thanks for your prayerful and financial support that helps keep MoneyWise on the air. And if you'd like to help, just click the Donate tab at the top of the page.

Listen to MoneyWise Live each weekday at 4pm EST on Moody Radio.

MoneyWise Live

It’s safe to say Graham and April Smith found each other through generosity. They both love to give and some would say they live to give. Navigating cultural and practical differences, this young couple have a big vision and even bigger hearts to see generosity change the world.

We exist to spread the message of biblical generosity in order to grow generous givers especially among those entrusted with much.

Generous Giving

Marriage & Family

The Och's share their inspirational generosity journey.

Graham and April Smith - Young, Urban, and Intentional

When adult children have to return home, what are the financial issues to consider? Ron Blue shares his experience.

The Ron Blue Institute seeks to be a thought leader with great influence committed to changing the way Christians think, act, and communicate about financial stewardship, empowering the church, and changing the world.

Ron Blue Institute

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How to Deal with Boomerang Children

Chloe Ogden was the #1 wrestler in the nation for her weight. Then, she tore the cartilage in both shoulders and needed back-to-back surgeries. Her parents were left worrying about paying for two orthopedic surgeries. That's when the CHM family stepped in.

__[Read more](https://www.chministries.org/testimonials/top-usa-wrestler-says-god-will-provide-thanks-chm-family/?utm_campaign=Moneywise&utm_source=Moneywise&utm_medium=Website&utm_content=OgdenTestimony)__ about God's provision through this ministry.

Christian Healthcare Ministries (CHM) is a budget-friendly, biblical, and compassionate healthcare cost solution for Christians in all 50 states and around the world.

Christian Healthcare Ministries

She needed back-to-back surgeries. Her parents were left worrying about paying for two orthopedic surgeries.

Top USA wrestler - The Chloe Ogden Story

Ron Blue

What are the three financial questions that everyone is trying to answer? Ron Blue shares his experience and insight.

What the three top financial questions that everyone is trying to answer? Ron Blue shares his wisdom and insight.

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Pyramid Schemes Still Exist

Graham and April Smith - Young, Urban, and Intentional

How to Deal with Boomerang Children

Top USA wrestler - The Chloe Ogden Story

3 Financial Questions Everyone is Trying to Answer

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