Self Reliance: Finances

“We encourage you wherever you may live in the world to prepare for adversity by looking to the condition of your finances. 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” (All Is Safely Gathered In: Family Finances).
 
 
The Church has 4 steps they encourage in becoming financially self reliant. For more information please visit the website posted at the bottom of the page. What I have included is the outline from the website, more information can be found at the church's website. Links for budget worksheets, and debt-elimination calendars are found on the website.
 
https://www.lds.org/topics/finances?lang=eng


The Church also has "Financial Calculators" found here:

http://providentliving.org/self-reliance/finances/financial-calculator?lang=eng

A number of calculators are available to help you make wise financial decisions. Consider the questions below and use the calculators provided to help you in your financial planning:

How soon could I pay off all my debts?

How much should I save for emergencies?

Where is my money going?

Would spending a little less and saving a little more make a difference?

How long will it take to pay off my credit card?

When will my loan be paid off?

What if I pay a little extra each month on my loan?

What would my payment be if I borrowed?

Should I refinance my home mortgage?

What would be my monthly payment on a new home?

How much should I save for retirement?

Are my current retirement savings adequate?

How much retirement income will I have if I save regularly?

How much should I save to reach my goal?

How much could I have if I saved regularly?

These financial calculators can help you make wise financial decisions if you use them appropriately. You may also want to consider meeting with a trusted individual or professional advisor.
WHEN you go to the link provided http://providentliving.org/self-reliance/finances/financial-calculator?lang=eng  you will find that you can browse each of these questions and find things that may help you in your particular situation.

Let us all resolve to do our very best, one day at a time!