How To Be Financially Free

Sometimes, simply asking for a discount—on medical bills or repairs—can save money. It never hurts to ask!

Budgeting doesn’t have to feel like a punishment. Reward yourself for hitting financial milestones:

• Treat your family to ice cream after a week of staying on budget.
• Celebrate building your emergency fund with a special dinner.

These small rewards keep you motivated without derailing your financial progress.

Stretch out spending for non-essentials like salon visits or subscriptions. For example, getting your nails done every six weeks instead of four can save $100 a year.

If you’re paying for storage, consider selling items you no longer need. A good rule of thumb: Let it go if you haven’t used it in a year. This can free up cash and eliminate unnecessary expenses.

Increase Your Income

If you’ve trimmed your expenses but still struggle to live below your means, it’s time to explore ways to boost your income.

• Take on a side job in the gig economy.
• Pick up extra hours at work or ask for a raise.
• Leverage your skills for freelance or consulting opportunities.

Even a modest income increase can significantly improve your financial situation over time.

Learning to live below your means allows you to serve God more fully, free from the weight of financial stress. It’s a journey of faith, discipline, and intentionality, but the rewards—both spiritual and financial—are worth it.

On Today’s Program, Rob Answers Listener Questions:

• I recently left a domestic violence situation and will be receiving around $200,000 from the sale of our home. I have limited income and minimal debt. Should I use the home sale proceeds to pay off all my debt to start fresh, or should I keep the debt and make payments to rebuild my credit while holding onto the home sale money for a year or two?
• I'm turning 65 in March and will be Medicare-eligible. However, I plan to continue working and have employer-sponsored insurance, including an HSA, to which I contribute. I've heard conflicting information—can I continue not enrolling in Medicare now, and can my employer continue contributing to my HSA?
• My IRA advisor is transferring to LPL Financial. Charles Schwab recommended that I roll over my $300,000 IRA to them and invest directly in stocks rather than mutual funds, saying I was too conservatively invested. Should I stay with my current advisor as they move to LPL, or should I look for a new advisor at Charles Schwab or elsewhere?
• I have one loan left, a 7.25% bank loan of about $20,000. I also took out a $14,000 401(k) loan. I plan to retire in May when I turn 65. Would it be best for me to pay off both of these loans before I retire, even though it would mean withdrawing from my 401(k) to pay off that loan?

Resources Mentioned:

• Faithful Steward: FaithFi’s New Quarterly Publication
• NerdWallet
• Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety
• Rich Toward God: A Study on the Parable of the Rich Fool
• Find a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)
• FaithFi App