Eric Poulin

Archive for the ‘Teachings from Church Leaders’ Category

Stephen Palmer, from God’s Laws of Finance sent this link on Sunday. Its a great talk from Brigham Young from 1863, where he talks about tithing and how money affects us. Here’s a snippet:

“I could have made this whole people rich long ago if I had possessed their confidence, as I should, but if I had made them rich, through the blessings of the Lord, I expect it would have destroyed them.”

Have a read through the talk – time really hasn’t changed the way to think about money has it?

Pay Thy Debt and Live

Exerpts:

“In the long run, it is easier to live within our income and resist borrowing from future reserves except in cases of necessity never for luxuries. It is not fair to ourselves or our communities to be so improvident in our spending that the day our income stops we must turn to relief agencies or the Church for financial aid.

Do not, I solemnly urge you, tie yourselves to payment of carrying charges that are often exorbitant. Save now and buy later, and you will be much further ahead. You will spare yourselves high interest and other payments, and the money you save may provide opportunity for you to buy later at substantial cash discounts. Read the rest of this entry »

Making Money Your Ally by: By W. Steve Albrecht

Exerpts:

“Law 1: Pay an Honest Tithing…

Law 2: Budget Your Expenditures…

Law 3: Save Some Money Every Month…

Law 4: Decrease Your Expectations…

Law 5: Stay Free from Debt…

Law 6: Become Knowledgeable Consumers…

Law 7: Teach Family Members the Importance of Work and Managing Money…

Law 8: Make Wise Investments…

Law 9: Have a Will…

Law 10: Keep Money in Perspective…”

Not long ago, the church created a short online course called, Peace in Your Hearts: Managing Household Finances Wisely, which is aimed at providing the very basics of personal finance education. If you are just getting started, its a good place to start. For a more detailed online course, check out the course from BYU.

I received an email from a friend with a transcript of Elder Boyd K Packer speaking at a testimony meeting on Oct 12.

However, I have removed the attachment after reading further here: Comments from another blogger who called church headquarters about it, and having received a number of emails through regular church channels suggesting that the comments were not accurate.

Climbing Out of Debt by President Hinckley

Exerpts:

“Realize It Is a Spiritual Matter

1. Paying an honest tithing.
2. Paying a generous fast offering.
3. Giving time, talent, and energy toward building the kingdom of God.’
4. Following principles of self-reliance.
5. Cultivating gratitude.

‘We are beguiled by seductive advertising. Television carries the enticing invitation to borrow up to 125 percent of the value of one’s home. But no mention is made of interest.’ Read the rest of this entry »

Ezra Taft Benson addressing BYU students about debt.

President Monson gave a great talk and discussed 3 things we can do to qualify to be God’s people

1. Learn what we should learn
2. Do what we should do
3. Be what we should be

Since the Book of Mormon promises that if we keep the commandments, we’ll prosper in the land, and especially in our troubled times, we need to heed this counsel.

Experts: Read the rest of this entry »

Family Finances

Family Home Storage

Seeing the need for basic education about money, the First Presidency releases the pamphlet “All is Safely Gathered In: Family Finance”.

This pamphlet is released in conjuntion with the pamphlet “Prepare Every Needful Thing: Family Home Storage”.

Following the principles discussed in these pamphlets will protect you from emergency needs. Of note is the repeated advice to budget your money. While most people know they should be doing this, its hard to get on a regiment, but its essential to your financial fitness.

Wise Financial Management During Tough Economic Times

The church continue to emphasize, with increasing frequency, living within our means and using a budget.

Selected Quotes from this article:

Richard W. Ebert Jr., the director of Employment Resource Services for The Church of Jesus Christ of Latter-day Saints, says, “Financial problems are a source of much unhappiness and are certainly a major factor in family and work difficulties. Unresolved, they can lead to crushing debt and divorce.”

1. Avoid debt…
2. Use a budget…
3. Teach family members early the importance of working and earning…
4. Work toward home ownership…
5. Appropriately involve yourself in an insurance program to avoid the significant debts place upon families when they are uninsured.
6. Involve yourself in a food storage and emergency preparedness program…
7. Build a reserve…