Theology Gals with Coleen Sharp & Rachel Miller ⭐️

Hosted ByColeen Sharp & Rachel Miller

What these gals have to say is vitally important for the local church and the Christian Faith.

Wisdom with Money

Theology Gals | Episode 110

This week Coleen and Angela address being wise with our money. Below you’ll find an outline of the topics discussed.

Budgeting

Budgeting software options<br />
Work on your budget together as a couple<br />
Budget for everything

Getting out of debt

Pay off highest interest debts first<br />
Pay more than the minimum<br />
If you aren't carrying a balance on your credit card DON'T START!

Saving 

Emergency Funds<br />
Saving for bigger purchases

Christmas<br />
Vacations<br />
Home improvements<br />
Cars 

Saving for retirement (which will tie in with investing)

Investing 

Types of investments

Debt (bonds)<br />
Real Estate<br />
Equity (stocks)<br />
Derivative investments (options, hedges, other very complex instruments)

Why Invest

Inflation<br />
Lifetime avg return on the market

Basics

Start early<br />
Max it out, get every match dollar<br />
Diversify (talk about risk)

Individual stocks >40<br />
Mutual funds<br />
Diversify across asset type as well

Shift strategy with age

Not so great financial decisions

MLMs<br />
Credit cards<br />
Buying too much house<br />
Viewing a car as an investment<br />
Not saving for retirement<br />
Whole life insurance

 Giving

 Teaching children to be wise. 

Young children<br />
Teenagers

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