4

Manage Money

Ponder:Why is managing money so hard—and so important?

“First Things First!” (No video? Read the next page.)

Discuss:What did you learn from these children? Why should we keep track of our money? Why should we save money?

Read:Statement from All Is Safely Gathered In; Doctrine and Covenants 104:78 (on the right)

“Pay tithes and offerings, … avoid debt, … use a budget, … determine how to reduce what you spend for nonessentials … [and] discipline yourself to live within your budget plan.”

All Is Safely Gathered In: Family Finances (booklet, 2007), 3

“And again, verily I say unto you, concerning your debts—behold it is my will that you shall pay all your debts.”

Doctrine and Covenants 104:78

Practice:Here are four steps you can take to manage your money so you can better serve others. Read these steps. As a group, talk about how you can make this a habit.

❶

Work Hard and Smart

Prove to your employer that you work hard each day. Prove that you are valuable. Be honest.

❷

Pay Tithes and Offerings

When you earn personal money, pay tithing first. Then God can bless you.

❸

Spend Less Than You Earn

Set a budget. Record what you earn and spend. Avoid debt. Earn more. Spend less than you earn.

❹

Build Savings Daily

Save money every day for more peace and freedom.

Commit:Commit to doing the following actions during the week. Check the boxes when you complete each task:

• Practice managing your money every day.

• Teach this principle to your family.

• Continue to practice the previous foundation principles.

“There seems to be a sense of entitlement in today’s culture. … When we become burdened with excessive debt, we have … placed ourselves in self-imposed servitude, spending all of our time, all of our energy, and all of our means to the repayment of our debts. … It is essential that we … develop a spending and savings plan—a budget—and distinguish between wants and needs.”

Robert D. Hales, “Seek and Attain the Spiritual High Ground in Life” (Church Educational System fireside, Mar. 2009), 6–7; speeches.byu.edu

Facilitator Tip

Ask someone to share how these principles are blessing his or her family.

First Things First!

If you are unable to watch the video, choose roles and read this script.

SETTING: Young boy and girl, dressed in adult clothes, acting like their parents.

BOY: I’m home, dear.

GIRL: Welcome home. Oh my, you look tired.

BOY: You do too. You work very hard, don’t you?

GIRL: Well, we’re supposed to work, aren’t we?

BOY: I earned 10 today.

GIRL: Oh, what a blessing. So, first things first. Let’s pay our tithing, shall we?

BOY: But what if we don’t have enough?

GIRL: That’s where faith comes in!

BOY: Okay. So what’s next?

GIRL: Well, we’ll need to buy food and bus fare, and pay rent. And then, it would be nice to buy a chair. …

BOY: But we can’t. See? We don’t have enough money.

GIRL: Could we borrow some?

BOY: They say debt is dangerous. We don’t want to get in trouble.

GIRL: Okay. You’re right. So what do we do with this?

BOY: Let’s save it! You never know what will happen.

GIRL: That feels right. But there’s nothing left for fun.

BOY: We have each other! And I’ll try to earn more.

GIRL: I’ll try to spend less!

BOY: That way we can be happy—and self-reliant!

GIRL: Right! That wasn’t so difficult. Why do grown-ups make it so hard?

BOY: Oh, you know. That’s just how grown-ups are!