Debt Elimination

Good morning everyone! It is such a beautiful day out side! And what a wonderful day to talk about the need to eliminate debt from our lives and our family's lives.

"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."1 What a wonderful promise this is!

We have so many resources available to help eliminate debt. This is the outline from "Focus on Family Finances," in the May 2009 Ensign.

• *Pay your tithes and offerings first. "Church members have the opportunity of giving back to the Lord a portion of their income with the understanding that their contributions help to build the kingdom of God by building meeting-houses and temples, providing for those who are less fortunate, and sharing the gospel throughout the world."2
• Avoid debt with the exception of a modest home or paying for education. "Consumer debt is a form of bondage that affects individuals, both temporally and spiritually."2
• Use a budget. "Many people think a budget robs them of their freedom. On the contrary, successful people have learned that a budget makes real economic freedom possible." President N. Eldon Tanner
• Build a reserve. "The First Presidency encourages Church member to prepare for [illness, unemployment, or major repairs] by gradually building a financial reserve to be used for emergencies only. Saving a little money regularly, especially in times of prosperity, will help members to prepare for times of financial struggle or unforeseen emergencies."2
• Teach family members. "parents need to teach children very early that a solid financial base is a very important element in a happy home."3

"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."

"The Church has provided online resources in English, German, Portuguese, and Spanish to help members [and anyone else] manage their family finances. Resources include talks by Church leaders, financial calculators, materials for family home evening lessons, and even an online financial course. For more information, please visit providentliving.org."2

* For anyone who is not a member of The Church of Jesus Christ of Latter-Day Saints, the Law of Tithing works for everyone. "Bring ye all the tithes into the storehouse, that there may be meat in mine house, and prove me now herewith, saith the LORD of hosts, if I will not open you the windows of heaven, and pour you out a blessing, that there shall not be room enough to receive it." Malachi 3:10 If you pay it, you will be blessed.

Notes
1. All Is safely Gathered In: Family Finances (pamphlet, 2007) available online in 24 languages.
2. "Focus on Family Finances," Ensign, May 2009, 28-33
3. "Providing for Our Needs," Ensign, May 1981, 85