1 Nephi 3:24-25

“And it came to pass that we went in unto Laban, and desired him that he would give unto us the records which were engraven upon the plates of brass, for which we would give unto him our gold, and our silver, and all our precious things.

And it came to pass that when Laban saw our property, and that it was exceedingly great, he did lust after it, insomuch that he thrust us out, and sent his servants to slay us, that he might obtain our property.”

We can use our physical precious things for righteous purposes. Nephi and family tried to get the brass plates with their precious things. Read the rest of this entry »

1 Nephi 3:19

“And behold, it is wisdom in God that we should obtain these records, that we may preserve unto our children the language of our fathers;”

Knowledge, written communication and education brings commerce, prosperity and wealth. The Lord wants to bless His people with wealth, as can be seen by so many good church members being financially well off. In order to do that we need to have the means to be educated, especially in the commandments of the Lord. This is perhaps one of the less-thought-of reasons they went back to get the brass plates.

Earthly Debts, Heavenly Debts

Exerpts:

“All too often a family’s spending is governed more by their yearning than by their earning. They somehow believe that their life will be better if they surround themselves with an abundance of things. All too often all they are left with is avoidable anxiety and distress”

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. Read the rest of this entry »

One of my favorite talks about debt. This talk made me get my act in gear regarding food storage. Its interesting that now, 10 years later the economies of North America are not doing very well. That rehearsal of Pharoah’s dream, with 7 years of plenty was truly prophetic.

http://www.lds.org/conference/talk/display/0,5232,89-1-22-20,00.html

Exerpts:

“…I am suggesting that the time has come to get our houses in order.

So many of our people are living on the very edge of their incomes. In fact, some are living on borrowings.

What a wonderful feeling it is to be free of debt, to have a little money against a day of emergency put away where it can be retrieved when necessary…..

I urge you, brethren, to look to the condition of your finances. I urge you to be modest in your expenditures; discipline yourselves in your purchases to avoid debt to the extent possible. Pay off debt as quickly as you can, and free yourselves from bondage. Read the rest of this entry »

1 Nephi 2:13

“they [Laman and Lemuel] were like unto the Jews who were at Jerusalem, who sought to take away the life of my father.”

They complained against Lehi saying he was a visionary man… but I doubt that was the real issue. They were concerned about leaving their precious things and cozy lifestyle. Lehi being visionary was just in the way of their things. Perhaps their lust for money and wealth left them thinking if they destroy their father, the inheritance would be theirs and this silly game of leaving Jerusalem will be over. Read the rest of this entry »

1 Nephi 2:11

“…[Laman and Lemuel] did murmur in many things against their father, because he was a visionary man, and had led them out of the land of Jerusalem, to leave the land of their inheritance, and their gold, and their silver, and their precious things, to perish in the wilderness.”

One of Laman and Lemuel’s weaknesses is documented here. They had their hearts set upon riches. They would have inherited the land and riches of their father. We know that Lehi lived only another 10 years or so, so he was already old and perhaps Laman and Lemuel were looking forward to these inheritances imminently. Read the rest of this entry »

Contancy Amid Change

“I would like to explain five principles of economic constancy…

Constancy #1: Pay an honest tithing…

Constancy #2: Live on less than you earn…

Constancy #3: Learn to distinguish between needs and wants…

Constancy #4: Develop and live within a budget…

Constancy #5: Be honest in all your financial affairs…”

The order of these suggestons is important. First you keep the commandments, then to change your desires, then you get to the mecahnics of a budget and continue honestly.

One For the Money

One For the Money

This old pamphlet from Marvin J Ashton is classic and still relevant today.

It outlines the basics of using a debt repayment schedule. The recommendation is to pay down the highest interest debt first, then take the money you were paying on that loan and put that money on the next highest interest loan. Keep doing this until all your debts are paid off.

This pamphlet was one of my first introductions to managing finances. The counsel is great, the method is great. I highly recommend it.

1 Nephi 2:7

“And it came to pass that he built an altar of stones, and made an offering unto the Lord, and gave thanks unto the Lord our God.”

What offering would Lehi have given? Perhaps a thanks offering? (Leviticus 7:12) Whatever the offering, it would have been done without a priest present to consume the offering. We know Lehi is a descendant of Joseph, not a Levite. The offering would have been one of the best of his flock. Read the rest of this entry »

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