Financial Management
Daily Gems - 25 November 2009
The Difference between Wants and Needs
“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.”
Topics: Financial Management
Daily Gems - 11 November 2009
Thou Shalt Not Covet
“Being provident providers, we must keep that most basic commandment, ‘Thou shalt not covet’ (Exodus 20:17). Our world is fraught with feelings of entitlement. . . . If our family does not have everything the neighbors have, . . . we go into debt to buy things we can’t afford—and things we do not really need. Whenever we do this, we become poor temporally and spiritually.”
Topics: Financial Management, Agency
Daily Gems - 3 November 2009
Tithing: Foundation of Provident Living
“The foundation of provident living is the law of the tithe. The primary purpose of this law is to help us develop faith in our Heavenly Father and His Son, Jesus Christ. Tithing helps us overcome our desires for the things of this world and willingly make sacrifices for others.”
Topics: Family, Financial Management
Daily Gems - 20 August 2009
Living within Our Means
"One of the better ways to simplify our lives is to follow the counsel we have so often received to live within our income, stay out of debt, and save for a rainy day. We should practice and increase our habits of thrift, industry, economy, and frugality. Members of a well-managed family do not pay interest; they earn it."
Topics: Financial Management
Family Gems - 7 August 2009
Avoiding Coveting Brings Freedom and Enjoyment
“Being provident providers, we must keep that most basic commandment, ‘Thou shalt not covet’ (Exodus 20:17). Our world is fraught with feelings of entitlement. Some of us feel embarrassed, ashamed, less worthwhile if our family does not have everything the neighbors have. As a result, we go into debt to buy things we can’t afford—and things we do not really need. Whenever we do this, we become poor temporally and spiritually. We give away some of our precious, priceless agency and put ourselves in self-imposed servitude. Money we could have used to care for ourselves and others must now be used to pay our debts.”
Topics: Financial Management
Family Gems - 3 July 2009
Principles of Provident Living for Provident Providers
“All of us are responsible to provide for ourselves and our families in both temporal and spiritual ways. To provide providently, we must practice the principles of provident living: joyfully living within our means, being content with what we have, avoiding excessive debt, and diligently saving and preparing for rainy-day emergencies. When we live providently, we can provide for ourselves and our families and also follow the Savior’s example to serve and bless others.”
Topics: Financial Management
Family Gems - 21 April 2008
Preparing to Be a Financial Provider
"We do live in turbulent times. Often the future is unknown; therefore, it behooves us to prepare for uncertainties. Statistics reveal that at some time, for a variety of reasons, you may find yourself in the role of financial provider. I urge you to pursue your education and learn marketable skills so that, should such a situation arise, you are prepared to provide."
Topics: Self-Reliance, Financial Management
Family Gems - 10 August 2007
Teaching Children about Finances
"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."
Topics: Financial Management
Young Single Adult Gems - 13 June 2007
Living within Our Means
"Avoid the philosophy and excuse that yesterday's luxuries have become today's necessities. They aren't necessities unless we ourselves make them such. . . . It is essential for us to live within our means."
Topics: Financial Management
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