Friday, November 5, 2010
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).
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.
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.)
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
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 importanceof obtaining as much education as possible.