A quick roundup on some of the most interesting articles this month... - Twitter Accepts Elon Musk's Offer to Buy Company for $43 billion - T he Most Reliable Recession Indicator Just Happened, Now What? - Inflation Keeps Climbing - Why the Past 10 Years Have Been Uniquely Stupid - Netflix Stock Plummets over 30% after losing subscribers Sign up for Money Minute email here: https://mailchi.mp/nateskelly/p5c6us72e5...
Apr 29, 2022•13 min•Ep. 63
Have you heard of Inflation Bonds (I Bonds)? You can buy them directly from the US government and they pay a guaranteed rate of return that is tied to inflation. The reason that most people haven’t heard of them is they haven't been paying a whole lot... until now! I Bonds purchased by April 30, 2022 are set to pay an average of over 8% for the first year! In today's episode we'll explain how I Bonds work and when they make sense as an investment. US Government site to purchase I Bonds directly:...
Apr 26, 2022•14 min•Ep. 62
Our guest, Jeremy DeSpain, has 13 years of experience in the world of finance. He started his career in investment management and later spent several years as a bank manager. Jeremy now serves as the full-time senior pastor of Bible Baptist Church in Port Orchard, WA. In this episode, he shares some valuable lessons he learned in the financial world and how he was able to translate those skills to his current role as a pastor. Jeremy also runs the Actual Faith YouTube channel where he discusses ...
Apr 12, 2022•43 min•Ep. 61
A quick roundup on some of the most interesting articles this month... - Starbucks to Become the Gas Stations of the Future for Electric Vehicles? - Will Your State Lift Its Gas Tax? - March Madness is a Billion-Dollar Business - The Streaming Wars Continue to Rage (Amazon makes big purchase) Sign up for Money Minute email here: https://mailchi.mp/nateskelly/p5c6us72e5 Email: info@nateskelly.com Website: nateskelly.com Facebook: https://www.facebook.com/financialpathwayllc...
Mar 31, 2022•10 min
It's time to tackle another paradox! The Bible says that working hard, saving, and building wealth are commendable traits, BUT it also says that building wealth is a terrible goal. How do we make sense of these principles? Let's a taker a closer look... Email: info@nateskelly.com Website: nateskelly.com Facebook: facebook.com/financialpathwayllc
Mar 29, 2022•14 min
It's time to do a deep dive on the questions everyone is asking these days... What can we do to lower gas prices? Suspend gas taxes? Keystone XL pipeline? Why are we importing oil from foreign countries instead of producing our own oil? How much oil do we consume vs how much we produce? Email: info@nateskelly.com Website: https://www.nateskelly.com/ Facebook: https://www.facebook.com/financialpathwayllc
Mar 15, 2022•28 min
Have you ever found it difficult to explain to people what you do at your job? Me too! So I decided to take an episode to clear up three big misconceptions about financial advisors: 1. Financial Advisors are the same as Financial Planners, they all do the same thing 2. Only rich people work with Financial Advisors 3. Why should I pay a Financial Advisor when I'm already investing for free? Email: info@nateskelly.com Website: https://www.nateskelly.com/ Facebook: https://www.facebook.com/financia...
Mar 01, 2022•26 min•Ep. 54
Cash is king! Except when it isn't. In today's episode we discuss the pros and cons of using credit cards. Credit cards aren't for everyone. But if you can follow three simple rules you'll very likely find credit cards to be a net benefit. We conclude by sharing three great resources for understanding and managing credit. Email: info@nateskelly.com Website: https://www.nateskelly.com/ Facebook: https://www.facebook.com/financialpathwayllc...
Feb 15, 2022•23 min•Ep. 56
The market is off to a bumpy start in 2022. After a strong return of ~27% in 2021, the US stock market is down ~10% to start the year. So what's behind this recent downturn? In this episode we'll explain why the Federal Reserve raises and lowers interest rates, how that can affect the stock market, and what you should do now that interest rates may be going back up. Email: info@nateskelly.com Website: nateskelly.com Facebook: https://www.facebook.com/financialpathwayllc...
Feb 01, 2022•23 min•Ep. 55
Paradox: a seemingly absurd or self-contradictory statement or proposition that when investigated or explained may prove to be well founded or true. The Bible contains many truths that at first glance may seem to be at odds with each other: humility is the way to exaltation, lose your life in order to find it, when we are weak then we are strong, etc. That brings us to the paradox of the day: why should I save money when Jesus tells me to trust Him to provide for my needs? Email: info@nateskelly...
Jan 18, 2022•13 min•Ep. 54
On a recent trip to New York City, I got to witness two groups of street performers in Times Square. Both were incredibly talented and had almost identical skill sets, but one group walked away with 10x as much money after their performance. In this episode, I'll share 4 subtle techniques these street performers use to make hundreds of dollars a night and explain how successful businesses utilize the same tactics.
Jan 04, 2022•23 min•Ep. 53
Pastors may feel hesitant about tackling the topic of money from the pulpit. And understandably so! No one wants to alienate their audience or be perceived as greedy or self-serving. But when pastors fail to communicate what the Bible says about money, they are actually doing their congregation a huge disservice. In this episode, I talk with Josh Teis about how he approaches the topic of money from the pulpit. He gives a wealth of practical tips on how to prepare messages, lead giving campaigns,...
Dec 21, 2021•43 min•Ep. 52
Concerns are growing over how long the US stock market can sustain its current pace. US stock returns were strong for a full decade, were briefly halted by the Coronavirus, and now have continued to surge forward to new record highs. In this episode, we'll consider both sides of this argument and the common objections raised. We'll conclude by giving you three specific actions to take to set yourself up for long term investing success. Email: info@nateskelly.com Website: http://nateskelly.com Fa...
Dec 07, 2021•32 min•Ep. 51
We've made it to episode 50 which means it's time to do another special "ask me anything" episode! Thanks everyone for listening and submitting these great questions: Saving taxes in retirement (2:15) Pastoral finances (11:12) Minimizing taxes as W-2 employee (not self-employed) (12:47) Biggest mistakes people make in retirement (19:23) High yield dividend stocks (25:04) How much house can I afford (32:45) Cryptocurrency (37:32) Email: info@nateskelly.com Website: https://www.nateskelly.com Face...
Nov 23, 2021•48 min•Ep. 50
Bryan Samms joins me to discuss some important considerations regarding pastoral pay such as... What does the Bible teach about pastoral pay? How should pastors communicate with their church about their pay/benefits? When should a church add additional paid staff? What resources should a church use to determine fair compensation for a particular role? Connect with Bryan Twitter: @bryansamms Facebook: @pastorbryansamms Podcast: Bryan Samms Podcast Email: info@nateskelly.com Website: https://www.n...
Nov 09, 2021•41 min•Ep. 49
Many people assume that being frugal and being cheap are the same thing. They are not! There's a key difference that separates someone being financially savvy from someone being downright stingy. In this episode, we'll talk about why it's admirable to be frugal and why you never want to be cheap. Email: info@nateskelly.com Website: https://www.nateskelly.com Facebook: https://www.facebook.com/financialpathwayllc
Oct 26, 2021•17 min•Ep. 48
Only about 1/3 of Americans say they either are or will be adequately prepared for retirement. And no wonder! It's a complicated business. So how do your retirement savings stack up to the average American your age? In this episode, we'll share the research on how much the average American has saved and how much the experts recommend you have saved based on your age. Remember, that there is no magic number needed to retire successfully. How much you need depends on many factors. Start saving as ...
Oct 12, 2021•23 min•Ep. 47
Consumer debt in America is closing in on $15 TRILLION dollars (personal mortgages, car loans, student loans, credit cards etc. combined). Everywhere you turn, you're bombarded with advertisements and offers to borrow more money. So how is a Christian supposed to approach this question of debt? Is it ever ok to borrow money or should Christians avoid debt entirely? In this episode, we'll take a closer look at what the Bible has to say on this important issue and offer some helpful guidelines whe...
Sep 28, 2021•15 min•Ep. 46
Email: info@nateskelly.com Website: nateskelly.com Facebook: https://www.facebook.com/financialpathwayllc
Sep 14, 2021•34 min•Ep. 45
You've probably heard of the "Debt Snowball" but have you heard of the "Debt Avalanche"? Find out how to rapidly pay down debt and create margin in your financial life using this simple technique. In this episode, we'll explain how the Debt Avalanche works and how it can help you pay your debt faster and pay even less in interest than using the Debt Snowball method. Email: info@nateskelly.com Website: https://www.nateskelly.com Facebook: https://www.facebook.com/financialpathwayllc...
Aug 31, 2021•20 min•Ep. 44
Myth: Trusts are only for the super wealthy Truth: Trusts are helpful estate planning tools that benefit millions of Americans and can serve a wide number of purposes. In this episode we'll explain the basics of trusts including... The two basic types of trusts The three roles involved in setting up a trust The difference between a will and a trust Five important benefits of setting up a trust Email: info@nateskelly.com Website: https://www.nateskelly.com Facebook: https://www.facebook.com/finan...
Aug 17, 2021•19 min•Ep. 43
According to a recent poll by Ladder, consumers spend an average of $1497/month on non-essential items. A big reason many people aren't able to make progress on their savings goals is because their monthly spending is crowded with non-essential purchases. In this episode, we'll discuss how you can save money in six different areas of your budget. Some may only save $20-30/mo while others could mean savings of $500+/mo! Email: info@nateskelly.com Website: https://www.nateskelly.com Facebook: http...
Aug 03, 2021•23 min•Ep. 42
Lifestyle creep: the tendency to continue increasing your spending as your income grows. A higher income is often accompanied by more spending. Typically, the majority of the increased spending is on non-essential items (eating out, entertainment, activities, shopping, travel, household amenities, etc.). Over time, these luxuries come to be seen as essential to your way of life. If/when income decreases (such as in retirement) it can be very difficult to adjust. In this episode, we'll talk about...
Jul 20, 2021•21 min•Ep. 41
Cary Schmidt is the Lead Pastor of Emmanuel Baptist Church in Newington, Connecticut. He hosts the "Leading in the Gospel" Podcast and recently published his newest book "Stop Trying: How to Receive Not Achieve Your Identity". In this episode, we talk about how your identity can shape your view of finances for good or for bad. Cary explains how he as a pastor approaches teaching and preaching on the sensitive topic of money. Cary also takes some to share his advice for younger pastors on how the...
Jul 06, 2021•42 min•Ep. 40
It's the question of the hour: are we headed for a big jump in inflation? Price increases in housing, gas, lumber, and more, have many Americans worried about how inflation may lead to an economic recession. In today's episode, we'll explain some of the factors contributing to recent price increases and add some context to the inflation discussion. We'll also offer three important tips for how you can combat the effects of inflation in your personal finances. Email: info@nateskelly.com Website: ...
Jun 22, 2021•24 min
Whether you have a lump sum of money or you have extra monthly cash flow, is it smarter to invest that money in the market or pay off your mortgage as soon as you can? We talk through some important questions to ask yourself as well as some common pitfalls to avoid. We also offer some hypothetical situations to help compare and contrast the benefits and drawbacks of each option. Email: info@nateskelly.com Website: http://nateskelly.com Facebook: https://www.facebook.com/financialpathwayllc...
Jun 08, 2021•26 min•Ep. 38
Our guest, Andrew Smith is the founder and director of Orphans in Asia. He shares the story of why he started Orphans in Asia and how he's able to run the ministry without taking a paycheck from it. We discuss some of the important work Orphans in Asia is doing to feed and house needy children, teach them real life occupational skills, facilitate grants for adoptions, and more. We also talk about what Andrew's missions experiences have taught him about finances, generosity, and contentment. Be s...
May 25, 2021•33 min•Ep. 37
This episode is the first in a series of episodes from the "Managing God's Money" sessions that I teach for churches. It's an opportunity for us to take a deeper dive into specific passages to better understand what the Bible teaches us in the areas of giving, saving, and spending. The Parable of the Talents is one of the most important passages in the entire Bible on the subject of stewardship. In today's episode we'll explore three important truths about money that Jesus taught in this passage...
May 11, 2021•22 min•Ep. 36
The IRS recently extended the 2020 IRA contribution deadline. Instead of April 15th, you can now make a 2020 contribution to an IRA up until May 17th, 2021. With so many Americans receiving a stimulus check or tax refund (or both!) now might be a great time to invest excess cash in an IRA. In this episode we'll break down some of the key differences between Traditional and Roth IRAs and give you four key questions to ask that will help you determine which type of IRA is right for you. Email: inf...
Apr 27, 2021•19 min•Ep. 35
We've all been guilty of being over-budget from time to time. Maybe we spent an extra $50 last month on restaurants or we went $200 over our price limit on Christmas gifts. However, there's a big difference between occasionally being over-budget and a harmful pattern of overspending. So how do we know if we're overspending? And more importantly what motives are at the core of our decisions to spend more than we know we should? In this episode, we'll talk through five rationalizations people use ...
Apr 06, 2021•23 min•Ep. 34
