Elder Joseph B. Wirthlin
Of the Quorum of the Twelve Apostles
We have earthly debts and heavenly debts. Let us be wise in dealing with each of them.
My beloved brethren and sisters, what a glorious event it is to attend conference.
We find that the words spoken are words of inspiration, and it's a joy to be
present.
I would like to talk about our heavenly debts and earthly debts. The Gospels
record that nearly everywhere the Savior went, He was surrounded by multitudes
of people. Some hoped that He would heal them; others came to hear Him speak.
Others came for practical advice. Toward the end of His mortal ministry, some
came to mock and ridicule Him and to clamor for His crucifixion.
One day a man approached the Savior and asked Him to intervene in a family
dispute. "Master, speak to my brother," he pleaded, "that he
divide the inheritance with me."
The Savior refused to take sides on this issue, but He did teach an important
lesson. "Beware of covetousness," He told him, "for a man's
life consisteth not in the abundance of the things which he possesseth."1
Brothers and sisters, beware of covetousness. It is one of the great afflictions
of these latter days. It creates greed and resentment. Often it leads to bondage,
heartbreak, and crushing, grinding debt.
The number of marriages that have been shattered over money issues is staggering.
The amount of heartbreak is great. The stress that comes from worry over money
has burdened families, caused sickness, depression, and even premature death.
Earthly Debts
In spite of the teachings of the Church from its earliest days until today,
members sometimes fall victim to many unwise and foolish financial practices.
Some continue to spend, thinking that somehow the money will become available.
Somehow they will survive.
Far too often, the money hoped for does not appear.
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.
Some debt—such as for a modest home, expenses for education, perhaps for a
needed first car—may be necessary. But never should we enter into financial
bondage through consumer debt without carefully weighing the costs.
We have often heard that interest is a good servant but a terrible master.
President J. Reuben Clark Jr. described it this way: "Interest never sleeps
nor sickens nor dies; it never goes to the hospital; it works on Sundays and
holidays; it never takes a vacation. . . . Once in debt, interest is your companion
every minute of the day and night; you cannot shun it or slip away from it;
you cannot dismiss it; it yields neither to entreaties, demands, or orders;
and whenever you get in its way or cross its course or fail to meet its demands,
it crushes you."2
The counsel from other inspired prophets in our time on this subject is clear,
and what was true 50 or 150 years ago is also true today.
President Heber J. Grant said, "From my earliest recollections, from
the days of Brigham Young until now, I have listened to men standing in the
pulpit . . . urging the people not to run into debt; and I believe that the
great majority of all our troubles today is caused through the failure to carry
out that counsel."3
President Ezra Taft Benson said, "Do not leave yourself or your family
unprotected against financial storms. . . . Build up savings."4
President Harold B. Lee taught, "Not only should we teach men to get
out of debt but we should teach them likewise to stay out of debt."5
President Gordon B. Hinckley declared: "Many of our people are living
on the very edge of their incomes. In fact, some are living on borrowings. . . .
" . . . 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."6
My brothers and sisters, many have heeded this prophetic counsel. They live
within their means, they honor the debts they have incurred, and they strive
to reduce the burden they owe to others. We congratulate those who are doing
so, for the day will come when they will reap the blessings of their efforts
and understand the value of this inspired counsel.
However, others struggle when it comes to finances. Some are victims of adverse
and often unforeseen events that have financially damaged them. Others are
in financial bondage because they have not learned to discipline themselves
and control their impulses to spend. Consequently, they have made unwise financial
choices.
May I suggest five key steps to financial freedom for your consideration.
First, pay your tithing. Do you want the windows of heaven opened to you? Do you wish to receive blessings
so great there is not room enough to receive them?7 Always pay your tithing
and leave the outcome in the hands of the Lord.
Obedience to God's commandments is the foundation for a happy life. Surely
we will be blessed with the gifts of heaven for our obedience. Failure to pay
tithing by those who know the principle can lead to heartache in this life
and perhaps sorrow in the next.
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.
Credit is so easy to obtain. In fact, it is almost thrust upon us. Those who
use credit cards to overspend unwisely should consider eliminating them. It
is much better that a plastic credit card should perish than a family dwindle
and perish in debt.
Third, learn to save. Remember the lesson of Joseph of Egypt. During times of prosperity, save up
for a day of want.8
Too often, people assume that they probably never will be injured, get sick,
lose their jobs, or see their investments evaporate. To make matters worse,
often people make purchases today based upon optimistic predictions of what
they hope will happen tomorrow.
The wise understand the importance of saving today for a rainy day tomorrow.
They have adequate insurance that will provide for them in case of illness
or death. Where possible, they store a year's supply of food, water, and other
basic necessities of life. They set aside money in savings and investment accounts.
They work diligently to reduce the debt they owe to others and strive to become
debt free.
Brothers and sisters, the preparations you make today may one day be to you
as the stored food was to the Egyptians and to Joseph's father's family.
Fourth, honor your financial obligations. From time to time, we hear stories of greed and selfishness that strike us
with great sorrow. We hear of fraud, defaulting on loan commitments, financial
deceptions, and bankruptcies.
We hear of fathers who financially neglect their own families. We say to men
and women everywhere, if you bring children into the world, it is your solemn
obligation to do all within your power to provide for them. No man is fit to
be called a man who gathers around himself cars, boats, and other possessions
while neglecting the sacred financial obligations he has to his own wife and
children.
We are a people of integrity. We believe in honoring our debts and being honest
in our dealings with our fellow men.
Let me tell you the story of one man who sacrificed greatly to maintain his
own financial integrity and honor.
In the 1930s Fred Snowberger opened the doors of a new pharmacy in northeastern
Oregon. It had been his dream to own his own business, but the economic turnaround
he had hoped for never materialized. Eight months later, Fred closed the doors
of his pharmacy for the last time.
Even though his business had failed, Fred was determined to repay the loan
he had secured. Some wondered why he insisted on repaying the debt. Why didn't
he simply declare bankruptcy and have the debt legally forgiven?
But Fred did not listen. He had said he would repay the loan, and he was determined
to honor his word. His family made many of their own clothes, grew much of
their food in their garden, and used everything they had until it was thoroughly
worn out or used up. Rain or shine, Fred walked to and from his work each day.
And every month, Fred paid what he could on the loan.
Years passed and finally the wonderful day arrived when Fred made the last
payment. He delivered it in person. The man who had loaned him the money wept
and with tears streaming down his face, said, "You not only paid back
every penny, but you taught me what a man of character and honesty is."
To this day, nearly 70 years after Fred signed his name to that note, descendants
of Fred and Erma Snowberger still tell this story with pride. This act of honor
and nobility has lived through the decades as a cherished example of family
integrity.
Fifth, teach your children to follow your example. Too many of our youth get into financial difficulty because they never learned
proper principles of financial common sense at home. Teach your children while
they are young. Teach them that they cannot have something merely because they
want it. Teach them the principles of hard work, frugality, and saving.
If you don't consider yourself informed well enough to teach them, all the
more reason for you to begin learning. Abundant resources are available—from
classes, to books, to other resources.
There are those among us who have been blessed abundantly with enough and
to spare. Our Heavenly Father expects that we do more with our riches than
build larger barns to hold them. Will you consider what more you can do to
build the kingdom of God? Will you consider what more you can do to bless
the lives of others and bring light and hope into their lives?
Heavenly Debts
We have spoken of earthly debts and our duty to repay them. But there are
other debts—debts more eternal in nature—that are not so easy to repay. In
fact, we will never be able to repay some of them. These are heavenly debts.
Our mothers and fathers gave us life and brought us into this world. They
gave us the opportunity to obtain mortal bodies and experience the joys and
sorrows of this bounteous earth. In many cases, they set their own dreams and
desires aside for the sake of their children. How fitting it is that we honor
them and show by word and deed our love for them and our gratitude.
We also have a great debt to our ancestors who have preceded us and who wait
beyond the veil for those ordinances that will allow them to continue their
eternal progression. This is a debt we can repay for them in our temples.
What a debt we owe to the Lord for restoring His divine Church and true gospel
in these latter-days through the Prophet Joseph Smith. From his youth until
his Martyrdom, he devoted his days to bringing to mankind the gospel of Jesus
Christ that had been lost. We owe our deepest gratitude to him and to all men
in this sacred calling who have been given the mantle to preside over His Church.
How can we ever repay the debt we owe to the Savior? He paid a debt He did
not owe to free us from a debt we can never pay. Because of Him, we will live
forever. Because of His infinite Atonement, our sins can be swept away, allowing
us to experience the greatest of all the gifts of God: eternal life.9
Can such a gift have a price? Can we ever make compensation for such a gift?
The Book of Mormon prophet King Benjamin taught "that if you should render
all the thanks and praise which your whole soul has power to possess . . .
[and] serve him with all your whole souls yet ye would be unprofitable servants."10
We have earthly debts and heavenly debts. Let us be wise in dealing with each
of them and ever keep in mind the words of the Savior. The scriptures tell
us, "Lay not up for yourselves treasures upon earth, where moth and rust
doth corrupt, and where thieves break through and steal: But lay up for yourselves
treasures in heaven."11 The riches of this world are as dust compared
to the riches that await the faithful in the mansions of our Heavenly Father.
How foolish is he who spends his days in the pursuit of things that rust and
fade away. How wise is he who spends his days in the pursuit of eternal life.
Know within your hearts that Jesus the Christ lives. Be at peace, for as you
draw near to Him, He will draw near to you. Let not your hearts be weary, but
rejoice. Through the Prophet Joseph Smith, the gospel is restored once again.
The heavens are not sealed. As in ancient days, we have a man who communicates
with the Infinite. A prophet, President Gordon B. Hinckley, walks the earth
in our day and at this time. I so testify in the name of Jesus Christ, amen.
NOTES
1. Luke 12:13, 15.
2. In Conference Report, Apr. 1938, 103.
3. In Conference Report, Oct. 1921, 3.
4. Pay Thy Debt, and Live . . . , Brigham Young University
Speeches of the Year (28 Feb. 1962), 10.
5. The Teachings of Harold B. Lee, ed. Clyde J. Williams (1996),
315.
6. "To
the Boys and to the Men," Liahona, Jan. 1999, 65–66; Ensign, Nov.
1998, 53–54.
7. See Malachi 3:10.
8. See Genesis
41:47–57.
9. See D&C
14:7.
10. Mosiah
2:20–21.
11. Matthew
6:19–20.
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