Live Within Your Means

Bob T.

For many years our church leaders have encouraged us to learn to manage our finances by creating a budget and learning to live within that budget. In the pamphlet entitled “All IS SAFELY GATHERED IN”, our leaders have counseled us to follow these five basics:(1) Pay Tithes and Offerings. (2) Avoid Debt. (3) Use a budget. (4) Build a Reserve. (5) Teach Family Members the principles of frugality, hard work, and saving.

In a welfare session of General Conference, Elder Marvin J. Ashton of the Council of the Twelve Apostles counseled:

1. Pay an honest Tithe

2. Learn to Manage Money before it manages you

3. Learn self-discipline and self-restraint in money matters


5. Teach family members the importance of working and earning

6. Teach children to make money making decisions within their ability to comprehend

7. Teach family members to contribute to the total family welfare

8. Make education a continuing process

9. Work toward home ownership

10. Appropriately involve yourself in an insurance program

11. Understand external influences (inflation) on finances and investments

12. Involve yourself in food storage and emergency preparedness programs

Although given many years ago, these 12 points of counsel are valid today. Our adherence to these principles – given above – will bring harmony and cohesiveness to our family in spiritual matters as well as our material lives. We are encouraged to work together as husband and wife to accomplish these principles. In my experience as bishop I can tell you that family finances are a large problem in marital happiness. We can find happiness in sharing and working together to live these principles and teach them to our children by example as well as by precept.

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