04007 000 FinanceBrchr.qxd

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1 BUDGET WORKSHEET _ _ _ _ _ _ _ _ _ _ _ BUDGET FOR _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ (month/year) INCOME ACTUAL PLANNED A AFELY S S I LL Wages/Salaries (after taxes) Other income ATHERED I N G Total income EXPENSES PLANNED ACTUAL Tithes and offerings Savings Food Mortgage or rent Utilities Transportation Debt payments Insurance Medical Clothing School expenses Other Total expenditures Income less expenditures • Budget for a specified period of time (such as weekly, biweekly, monthly). • Review your budget regularly. Visit www.providentliving.org for more information about family finances. FAMILY FINANCES ENGLISH © 2007 by Intellectual Reserve, Inc. All rights reserved. Printed in the USA 4 02040 07000 3 English approval: 11/06 04007 000

2 MESSAGE FROM THE FIRST PRESIDENCY THE BASICS OF FAMILY FINANCES Dear Brothers and Sisters: PAY TITHES AND OFFERINGS Successful family finances begin with the payment Latter-day Saints have been counseled for many years to prepare of an honest tithe and the giving of a generous fast for adversity by having a little money set aside. Doing so adds offering. The Lord has promised to open the windows immeasurably to security and well-being. Every family has a respon- of heaven and pour out great blessings upon those who sibility to provide for its own needs to the extent possible. pay tithes and offerings faithfully (see Malachi 3:10). We encourage you wherever you may live in the world to prepare AVOID DEBT for adversity by looking to the condition of your finances. We urge you to be modest in your expenditures; discipline yourselves in Spending less money than you make is essential to your financial security. Avoid debt, with the exception your purchases to avoid debt. Pay off debt as quickly as you can, of buying a modest home or paying for education or and free yourselves from this bondage. Save a little money regularly other vital needs. Save money to purchase what you DEBT DEBT to gradually build a financial reserve. INCOME INCOME need. If you are in debt, pay it off as quickly as possible. 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 USE A BUDGET enjoy greater peace in your hearts. Keep a record of your expenditures. Record and review monthly income and expenses. Determine how May the Lord bless you in your family financial efforts. to reduce what you spend for nonessentials. The First Presidency 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. (See the Budget Worksheet on the back page.) 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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