Spending less money than you make is essential to financial security. Elder Joseph B. Wirthlin (1917–2008) of the Quorum of the Twelve Apostles that consumer debt is a form of bondage that affects individuals both temporally and spiritually. He said, “We think we own things, but the reality is, our things own us.” For this reason, the First Presidency encourages members to avoid debt with the exception of buying a modest home or paying for education.
The Kloosterman family has enjoyed the blessings of being free from the bondage of debt. When Kevin Kloosterman was called as the bishop of his ward in Illinois, USA, his family had some consumer debt. His stake president reminded him of the First Presidency’s counsel, and Bishop Kloosterman left the interview determined to pay off the debt. “We had always … tried to put the Lord first,” he recalls. “In this one case, we hadn’t.”
The Kloosterman family studied the scriptures and modern-day counsel related to finance and debt and took the steps necessary to achieve their goal. It became clear that they were being blessed by the Lord for heeding the counsel of His servants. “There is no affliction in mortality which the Savior cannot heal,” Bishop Kloosterman says. “If He can deliver us from the captivity of sin and death, He can certainly deliver us out of financial bondage.”
If Church members are in debt, they should pay the debt off as quickly as possible. A debt-elimination calendar is a great tool to help individuals create a specific plan to become debt-free. After creating a plan, members can make it a priority by making their necessary payments immediately after paying tithes and offerings. Above all, members should be patient with the time it may take to become debt-free by relying on the Lord for help and striving to follow His commandments.
To learn more: The Lord's Financial Plan
Showing posts with label Lord's Financial Plan. Show all posts
Showing posts with label Lord's Financial Plan. Show all posts
Friday, September 11, 2015
Wednesday, September 9, 2015
The Lord's Financial Plan
In The message of financial preparedness is not new. In this dispensation, Church leaders have encouraged members to prepare themselves by wisely managing their finances and have promised blessings to those who follow this counsel. The First Presidency said: “Latter-day Saints have been counseled for many years to prepare for adversity by having some money set aside. Doing so adds immeasurably to security and well-being.”
Families and individuals, both past and present, have witnessed the blessings of peace that result from their obedience to this counsel. As Church members follow the specific guidelines in All Is Safely Gathered In and utilize the other financial counseling the Church offers, they too will experience these blessings in their lives.
In the pamphlet, All is Safely Gathered In, the First Presidency asks all Church members to consider their finances and strive to become more spiritually and temporally self-reliant: “We encourage you wherever you may live in the world to prepare for adversity by looking to the condition of your finances. … If you have paid your debts and have a financial reserve … , you and your family will feel more secure and enjoy greater peace in your hearts.”
The pamphlet outlines five basic principles: pay tithes and offerings, avoid debt, use a budget, build a reserve, and teach family members. While living these principles requires patience, temperance, and sacrifice, obedience to the Lord’s financial plan will bring greater peace and joy than individuals and families could ever experience by living the way of the world.
To learn more: All Is Safely Gathered In: Family Finances
Families and individuals, both past and present, have witnessed the blessings of peace that result from their obedience to this counsel. As Church members follow the specific guidelines in All Is Safely Gathered In and utilize the other financial counseling the Church offers, they too will experience these blessings in their lives.
In the pamphlet, All is Safely Gathered In, the First Presidency asks all Church members to consider their finances and strive to become more spiritually and temporally self-reliant: “We encourage you wherever you may live in the world to prepare for adversity by looking to the condition of your finances. … If you have paid your debts and have a financial reserve … , you and your family will feel more secure and enjoy greater peace in your hearts.”
The pamphlet outlines five basic principles: pay tithes and offerings, avoid debt, use a budget, build a reserve, and teach family members. While living these principles requires patience, temperance, and sacrifice, obedience to the Lord’s financial plan will bring greater peace and joy than individuals and families could ever experience by living the way of the world.
To learn more: All Is Safely Gathered In: Family Finances
