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5 for Friday (August 27, 2021)

Is there any hope for my money fails? Which bank account is right for me? And how can you slow your car's depreciation?

These questions and more are answered in this week's 5 for Friday.

1. Is There Any Hope for My ‘Money Fails’? by Chris Cagle. There is hope for those who have made missteps—even tremendous missteps—with their finances. Chris Cagle outlines three truths about God that help us not to wallow in regret but know God’s great love for us despite our failures. Then he provides 6 ways to “fail forward” by using our mistakes to grow in Biblical knowledge and wisdom.

2. What Are the Different Types of Bank Accounts to Consider? by The Budget Mom. Not all banks and bank accounts are made equal. And since a bank account is a necessary tool for money management, you should know what options are available to you and how they differ. Whether you open an account with a bank or a credit union, you will have 4-6 types of accounts to choose from.

3. How to Slow Your Car’s Depreciation So You Can Sell It for More by Emily Long. Most know that cars begin to lose their value rapidly the second they are bought. How can you minimize that depreciation of value overtime in case you end up selling the car later? It’s simple: Choose cars that resale at a high value. Buy used. Take care of your car and sell it yourself rather than to a dealer.

4. The Number OF 401(k) Millionaires Just Reached a New Record High by Ana Lucia Murillo. Being a millionaire may not mean what you think it means. And Fidelity reports that a record number of retirement savers have hit that mark at least in their IRA, 401(k), or 403(b). On top of this, more than a third of workers increased their contributions to retirement in the past year. How have your retirement contributions been going?

5. 3 Ways to Live Out Low-Stakes Hospitality by Elizabeth Mckinney. For some, pandemic isolation led to social anxiety. Steve and Jane now feel a bit awkward when they meet someone new. Christian hospitality can assuage this social angst. Learn new friends’ names and allow margin in your schedule for unexpected time spent together. And ask new friends for their opinion or help in something going on in your life.


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