In many relationships money can be one of the biggest causes of stress and contention. We have been counseled by church leaders to avoid debt, and to take control of our finances. As we avoid debt we avoid the burden that is placed on us as we struggle to pay back what we have borrowed. There is an excellent pamphlet “One for the Money: Guide to Family Finance” that is put out by the church. It is based on a General Conference talk given by Marvin J Ashton.
This is an excellent pamphlet and it gives sound advice. It outlines twelve important principles that each family should follow in order to have control of your finances. These include paying your tithing, using a budget, learning self restraint in spending money, the importance of teaching your children about money, the importance of buying a home, and purchasing insurance.
Elder Ashton says:
“God help us to realize that money management is an important ingredient in proper personal welfare. Learning to live within our means should be a continuing process. We need to work constantly toward keeping ourselves free of financial difficulties. It is a happy day financially when time and interest are working for you and not against you.
Money in the lives of Latter-day Saints should be used as a means of achieving eternal happiness. Careless and selfish uses cause us to live in financial bondage. We can’t afford to neglect personal and family involvement in our money management. God will open the windows of heaven to us in these matters if we will but live close to Him and keep His commandments.”
You can learn more about how to better manage your finances by visiting the church’s site and also by visiting Provident Living, and going to Resource management. I have seen the peace in the lives of those who have their finances under control. I have also seen the stress in the lives of those who do not. These resources will help you find the balance that will best benefit your family.