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).
AVOID DEBT
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, hous- ing, utilities, transportation, clothing, insurance, and so on. Discipline yourself to live within your budget plan.
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 time.
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 importance of obtaining as much education as possible.
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