January Finance Tip

Wise Stewards Finance Tip

In his April 2004 Conference talk entitled Earthly Debts, Heavenly Debts Elder Joseph B. Wirthlin outlines five key steps to financial freedom. This month we’ll look at:

· 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.

It’s a new year! What a great time to get a new start! As you work on your resolutions for this year, don’t leave the kids out. Share your goals with the family. You’ll be more likely to achieve them if someone else is watching. Better yet, make family goals this year. Make it a goal to save up for something fun or important and let each family member do their part to help. Little ones can save their pennies too and feel like they’ve done something very important.

Discuss tithing in family home evening and share your progress with each other every week. This is a perfect opportunity to share your testimony of the importance of tithing and the blessings received from Heavenly Father from paying it. Your example is the most important thing you can show your kids to help them develop healthy habits. This can include healthy eating and exercise, scripture reading and prayer, and yes - money habits. Being open and honest about the rewards and consequences of your money habits and developing good habits will bless your children’s lives for years to come. If you don’t have children or they’ve grown and gone, you can share goals with others around you. We can all benefit from a good example and we can all use encouragement from each other.