Finances

"Find out about the Lord’s way of providing for His Saints. Learn how the principles of care for the needy, service to neighbor, and self-reliance complement each other.The Lord’s way of self-reliance involves in a balanced way many facets of life, including education, health, employment, family finances, and spiritual strength."
-President Dieter F. Uchtdorf, "Providing in the Lord's Way," General Conference October 2011
https://www.lds.org/general-conference/2011/10/providing-in-the-lords-way?lang=eng

"Another important way we help our children learn to be provident providers is by establishing a family budget. We should regularly review our family income, savings, and spending plan in family council meetings. This will teach our children to recognize the difference between wants and needs and to plan ahead for meaningful use of family resources."
-Elder Robert D. Hales, "Becoming Provident Providers Temporally and Spiritually" April 2009 General Conference https://www.lds.org/general-conference/2009/04/becoming-provident-providers-temporally-and-spiritually?lang=eng&query=family+budget


"Latter-day Saint spouses should do all within their power to preserve their marriages. They should follow the marriage enrichment counsel in the First Presidency’s message in the April 2007 Ensign and Liahona. 5  To avoid so-called “incompatibility,” they should be best friends, kind and considerate, sensitive to each other’s needs, always seeking to make each other happy. They should be partners in family finances, working together to regulate their desires for temporal things."
-Elder Dallin H. Oaks, "Divorce," General Conference April 2007
https://www.lds.org/general-conference/2007/04/divorce?lang=eng&query=finances


"Remember this: debt is a form of bondage. It is a financial termite. When we make purchases on credit, they give us only an illusion of prosperity. We think we own things, but the reality is, our things own us."
-Elder Joseph B. Wirthlin, "Earthly Debts, Heavenly Debts," General Conference April 2004
https://www.lds.org/general-conference/2004/04/earthly-debts-heavenly-debts?lang=eng&query=finances

"Second, spend less than you earn. This is simple counsel but a powerful secret for financial happiness. 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.

Those who live safely within their means know how much money comes in each month, and even though it is difficult, they discipline themselves to spend less than that amount."
-Elder Joseph B. Wirthlin, "Earthly Debts, Heavenly Debts," General Conference April 2004
https://www.lds.org/general-conference/2004/04/earthly-debts-heavenly-debts?lang=eng&query=finances

"Have a simple family economy where children have specific chores or household duties and receive praise or other rewards commensurate to how well they do. Teach them the importance of avoiding debt and of earning, saving, and wisely spending money. Help them learn responsibility for their own temporal and spiritual self-reliance."

-Elder M. Russell Ballard, "What Matters Most is What Lasts the Longest," General Conference October 2005  https://www.lds.org/general-conference/2005/10/what-matters-most-is-what-lasts-longest?lang=eng

"The girl who marries you will not wish to be married to a tightwad. Neither will she wish to be married to a spendthrift. She is entitled to know all about family finances. She will be your partner. Unless there is full and complete understanding between you and your wife on these matters, there likely will come misunderstandings and suspicions that will cause trouble that can lead to greater problems."
-President Gordon B. Hinckley, "Living Worthy of the Girl You Will Marry Someday" April 1998 General Conference https://www.lds.org/general-conference/1998/04/living-worthy-of-the-girl-you-will-someday-marry?lang=eng&query=finances

"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."
-President Gordon B. Hinckley, "To the Boys and to the Men" October 1998 General Conference
https://www.lds.org/general-conference/1998/10/to-the-boys-and-to-the-men?lang=eng&query=finances


"Do not trust your money to others without a thorough evaluation of any proposed investment. Our people have lost far too much money by trusting their assets to others. In my judgment, we never will have balance in our lives unless our finances are securely under control."
-Elder M. Russell Ballard, "Keeping Life's Demands in Balance" April 1987 General Conference
https://www.lds.org/general-conference/1987/04/keeping-lifes-demands-in-balance?lang=eng&query=finances


 "A mortgage on a home leaves a family unprotected against severe financial storms. Homes that are free and clear of mortgages and liens cannot be foreclosed on. When there are good financial times, it is the most opportune time to retire our debts and pay installments in advance. It is a truth that “the borrower is servant to the lender.” (Prov. 22:7.)
-Elder James E. Faust, "The Responsibility For Welfare Rests with Me and My Family" April 1986 General Conference https://www.lds.org/general-conference/1986/04/the-responsibility-for-welfare-rests-with-me-and-my-family?lang=eng&query=debts

Position Statement

My position on finances is simple. If we pay tithing, live within our means, avoid debt and build savings, then we are fairly financially sound and can have peace of mind. I have seen too many people lose their homes because they either bought one that they could barely afford or they were so irresponsible that they did not pay their mortgage and their home ended up being foreclosed upon. I think people fail to see how much harm the mismanagement of finances really can be. I read an article that stated that money was the third leading cause of divorce in the United States.  I also strongly believe that paying an honest tithe is where we can be greatly blessed. I know without a doubt that all we have is from Heavenly Father, therefore, tithing should be a priority in having financial stability.