1 Nephi 2:20

“And inasmuch as ye shall keep my commandments, ye shall prosper, and shall be led to a land of promise; yea, even a land which I have prepared for you; yea, a land which is choice above all other lands.”

Obedience brings long-term prosperity. While you may profit in the short-term from dishonesty or breaking other commandments, it will never last. The only way to long-term success and prosperity is obedience. This relates to both commandments of the Lord and to the system of finance in which we live.

You have to live by the laws we have in order to prosper. Pay bills on time, have a good credit rating, save some money early for retirement, and you will do well. Also, pay your taxes honestly. Living by these standards will help you to prosper in the land.

Thankfully we have a living prophet to guide us in our financial matters also. We have been counseled by the Prophet to stay out of debt except perhaps for an education and a home. We have been counseled to have emergency reserves and under his direction the church has published booklets explaining how and why. Although I’ve never done a thorough study of the scriptures on the topic of money management (until now) I bet that all the answers are contained therein.

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