“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. … 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” (All Is Safely Gathered In: Family Finances).
To learn more: Finances
Elder Robert D. Hales encourages us to stay out of debt and live frugally as he recounts a story from the early days of his marriage, when his wife exemplified the principles of provident living.
