Personal Finance and Family Finance ideas and articles from an LDS perspective.

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Elder Hales

Those four words, according to Elder Hales, are the key to living providently, and maintaining financial peace in a marriage and family. Beyond all other money saving ideas and strategies - the greatest is to simply cut down on spending - to differentiate between wants and needs, and control the wants.

Elder Hales teaches the “We Can’t Afford It” lesson with two stories Read more…

In a recent Ensign article, “Focus on Family Finance”, Allie Schulte of Church Welfare Services offers some great advice on the Lord’s financial plan for LDS church members, taken from the All is Safely Gathered In: Family Finances, an official church publication. Here’s what I learned from Sister Schulte’s article:

Although members may be faced with financial trials, they can feel secure as they turn away from the philosophies of the world and rely on the gospel of Jesus Christ and the counsel of Church leaders.

Here are five basic principles aimed at helping us survive the financial storms of Mormon living: Read more…

In 1981, Elder Ballard, then a member of the Presidency of the First Quorum of the Seventy, gave the following stats:

• Fewer than 50% of the members surveyed have a year’s supply of financial resources
• 89% feel the burden of increased taxes and inflation
• 31% percent of the families are doing without many things
• 39% are not earning enough money to meet their basic needs

Has much changed in the 28 year that have passed? Consider those four areas - how are you doing?

To help us improve our family and personal financial positions, Elder Ballard introduced 3 main areas of consideration: attitude, planning, and self-discipline. Read more…

This new video came out on the Mormon Message YouTube channel last week. It teaches an important concept in the place for financial sacrifice in a man’s life (this can be applied to women as well). I love this video - enjoy!

Elder Hales recently visited our local Stake Conference and shared his great apostolic testimony, wisdom, and a lot of laughs during the Saturday night sessions for the adults of the stake. His thoughts on life and our family relationships reminded me of his recent talk on Provident Living.

Certainly there is a good side in all of the economic turmoil we are seeing today. As Elder Hales said earlier this year: Read more…

Throughout all the finger pointing in recent months as to the case of the current recession our nation has found itself in - it’s interesting to me that nobody (within the reach of the average listener or reader) has been willing to point the finger at the real cause - ourselves. Hopefully my readers don’t fall into the category of those who are to blame - but I see our economic troubles caused by the everyday consumer and the world they’ve built around them.

We plead for that which we do not need. We buy that which we can’t afford. We borrow to pay those from whom we’ve borrowed to enjoy the pleasures we’re better off without. We expect that which we do not deserve. We carry the banner around with us where ever we go: “I want something for nothing.” Shame on the average American consumer.

Businesses and consumers alike fall deeper and deeper into debt searching for ‘a better life’ or ‘a higher profit’ - without care or regard for the consequences. We buy expansive and expensive houses we cannot afford and do not need - then complain Read more…