Posts Tagged ‘lds’
October 20th, 2008
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.
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October 11th, 2008
Ezra Taft Benson addressing BYU students about debt.
October 8th, 2008
President Monson gave a great talk and discussed 3 things we can do to qualify to be God’s people
- Learn what we should learn
- Do what we should do
- 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 »
October 8th, 2008
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.
October 6th, 2008
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.”
- Avoid debt…
- Use a budget…
- Teach family members early the importance of working and earning…
- Work toward home ownership…
- Appropriately involve yourself in an insurance program to avoid the significant debts place upon families when they are uninsured.
- Involve yourself in a food storage and emergency preparedness program…
- Build a reserve…
October 4th, 2008
2008 OCT General Conference – Sat. Morning: Elder L Tom Perry (Let Him Do It With Simplicity):
- Stress and anxiety can be caused by ups and downs of the economy and associated circumstances
- spoke of US housing crisis, rising fuel costs. Future is not predictable, but we must
- Encouraged us to return to a simple life and living within our means to reap the spiritual blessings that come from it.
- Told story of a man who went to live in a rural area for 2 years, not as a hermit, but to live simply to figure out the meaning of life.
- built his own home and reedom for $28.04. Planted a garden to sell food to sustain himself (made only $8.71).
- He enjoyed spirutual benefits of a simple lifestyle.
- He determined that to survive we need 4 things: Food, clothing, shelter and fuel.
September 29th, 2008
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”
September 26th, 2008
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 »
September 22nd, 2008
“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.
September 22nd, 2008
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.