August Newsletter Finance Tip

In his April 2004 Conference talk entitled Earthly Debts, Heavenly Debts Elder Joseph B. Wirthlin outlines five key steps to financial freedom. Over the next several months we’ll be taking a look at each of these steps in turn and exploring some helpful information to help us conquer our earthly debts. The five steps are these:

· First, pay your tithing.

· Second, spend less than you earn.

· Third, learn to save.

· Fourth, honor your financial obligations.

· Fifth, teach your children to follow your example.

Each of these steps offers great counsel, but I also love that Elder Wirthlin remembered heavenly debts in his talk because our heavenly debts cannot be forgotten. In his closing remarks he stated,

“We have earthly debts and heavenly debts. Let us be wise in dealing with each of them and ever keep in mind the words of the Savior. The scriptures tell us, “Lay not up for yourselves treasures upon earth, where moth and rust doth corrupt, and where thieves break through and steal: But lay up for yourselves treasures in heaven.” The riches of this world are as dust compared to the riches that await the faithful in the mansions of our Heavenly Father. How foolish is he who spends his days in the pursuit of things that rust and fade away. How wise is he who spends his days in the pursuit of eternal life.”