All Is Safely Gathered In- Family Finances

ALL IS SAFELY GATHERED IN FAMILY FINANCES
MESSAGE FROM THE FIRST PRESIDENCY

Dear Brothers and Sisters:
Latter-day Saints have been counseled for many years to prepare
for adversity by having a little money set aside. Doing so adds
immeasurably to security and well-being. Every family has a responsibility
to provide for its own needs to the extent possible.
We encourage you wherever you may live in the world to prepare
for adversity by looking to the condition of your finances. We urge
you to be modest in your expenditures; discipline yourselves in
your purchases to avoid debt. Pay off debt as quickly as you can,
and free yourselves from this bondage. Save a little money regularly
to gradually build a financial reserve.
If you have paid your debts and have a financial reserve, even
though it be small, you and your family will feel more secure and
enjoy greater peace in your hearts.
May the Lord bless you in your family financial efforts.

The First Presidency

THE BASICS OF FAMILY FINANCES


PAY TITHES AND OFFERINGS

Successful family finances begin with the payment
of an honest tithe and the giving of a generous fast
offering. The Lord has promised to open the windows
of heaven and pour out great blessings upon those who
pay tithes and offerings faithfully (see Malachi 3:10).

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AVOID DEBT

Spending less money than you make is essential to
your financial security. Avoid debt, with the exception
of buying a modest home or paying for education or
other vital needs. Save money to purchase what you
need. If you are in debt, pay it off as quickly as possible.

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USE A BUDGET

Keep a record of your expenditures. Record and
review monthly income and expenses. Determine how
to reduce what you spend for nonessentials.
Use this information to establish a family budget.
Plan what you will give as Church donations, how much
you will save, and what you will spend for food, housing,
utilities, transportation, clothing, insurance, and so
on. Discipline yourself to live within your budget plan.
(See the Budget Worksheet on the back page.)

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BUILD A RESERVE

Gradually build a financial reserve, and use it for
emergencies only. If you save a little money regularly,
you will be surprised how much accumulates over
time.

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TEACH FAMILY MEMBERS

Teach family members the principles of financial
management. Involve them in creating a budget and
setting family financial goals. Teach the principles of
hard work, frugality, and saving. Stress the importance
of obtaining as much education as possible.
 
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BUDGET WORKSHEET
ALL IS SAFELY GATHERED IN FAMILY FINANCES
BUDGET FOR ___________________________________________________________________________________________________
(month/year)
INCOME PLANNED ACTUAL
Wages/Salaries (after taxes)
Other income
Total income
EXPENSES PLANNED ACTUAL
Tithes and offerings
Savings
Food
Mortgage or rent
Utilities
Transportation
Debt payments
Insurance
Medical
Clothing
School expenses
Other
Total expenditures
Income less expenditures
• Budget for a specified period of time (such as weekly, biweekly, monthly).
• Review your budget regularly.
http://www.providentliving.org/ff/pdf/WE_FamilyFinancesGuide_International_04007_000.pdf

One For The Money-Guide to Family Finances
http://www.providentliving.org/pfw/multimedia/files/pfw/pdf/88720_33293_OneForTheMoney_pdf.pdf
The Church Of Jesus Christ of Latter-Day Saints