What Do Mormons Believe: Finances

June 17, 2011

Members of the church are encouraged to wisely manage their finances. Leaders of the church have said:

“We urge you to be modest in your expenditures; discipline yourselves in your purchases to avoid debt. …

“If you have paid your debts and have a financial reserve, even though it be small, you and your family will feel more secure and enjoy greater peace in your hearts.” 1

“All of us are responsible to provide for ourselves and our families in both temporal and spiritual ways. To provide providently, we must practice the principles of provident living: joyfully living within our means, being content with what we have, avoiding excessive debt, and diligently saving and preparing for rainy-day emergencies.” 2

“Successful family finances begin with the payment of tithes and offerings. When members put the Lord first, they are better able to care for themselves and others. Another part of successful financial management involves knowing your income and expenses and controlling money rather than letting it control you.” 3

For more information, visit the Family Finances section of providentliving.org or refer to the pamphlet All Is Safely Gathered In: Family Finances. 

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