We had a wonderful lesson in church this past Sunday. Because it was a fifth Sunday, we had a combined Priesthood/Relief Society meeting and our Bishop brought in a Financial Counselor from the LDS Church Employment Services. His name is Elder Michael Perry, he works as an adjunct professor in Finance at the Community College, and he retired at the age of 45 using these same principals he teaches to others for free. Some of the material I had heard before and read from other sources, but although the packaging or presentation might change, the principles themselves do not. We received an abbreviated summary of a summary, but he boiled it down nicely and offered to share more at the monthly classes at the LDS Employment Center for those who might be interested.
Here are the steps that Elder Perry shared with us today, along with some of my own insight and thoughts that I have learned over the years.
1. Pay an honest tithe and a generous fast offering.
Pay your tithing (10%) and a generous fast offering first.
You have to pay the Lord first. He gives us everything, and all He asks for in return is 10%. Entire books have been written about the blessings of paying a full tithe and fast offering, but if we want to have the windows of heaven open unto us, we have to put the Lord first. It’s also good fire insurance. See Malachi 3: 8-12 in the Old Testament. The promised blessings are both temporal and spiritual, and sometimes we may not even realize we are being blessed, such as not getting sick or finding a good job or having our car run without breaking down as often. I have found that when I pay my tithing, I do receive blessings more than I can receive. In fact, I can’t afford to not pay my tithes and offerings.
2. Stop going into more debt.
After we are square with the Lord, we have to change our habits. Financial problems usually have nothing to do with money and everything to do with our behavior. If we truly want to change, we have to stop spending money we don’t have. I love this video clip of a skit from Saturday Night Live, with Steve Martin and Amy Poehler, which clearly illustrates this point:
“Don’t Buy Things You Can’t Afford” SNL Skit
Now don’t get confused by all this. It’s really not that difficult. I love the adage: “Fix it up, wear it out, make it do, or do without.” After we finished off our basement, we waited for 18 months to save up money before purchasing furniture for the room. We used beanbags and pillows in the meantime, and when we did get the furniture, it was a nice feeling to know that the couches were paid in full. Church leaders have counseled us that the only things we truly should go into debt for are a modest home and an education. For everything else, debt should be avoided at all costs. It may take some pain, sacrifice, and patience, but in the end we will never be successful if we keep going into debt.
(To be continued….)
© Copyright 2012 Jeff, All rights Reserved. Written For: Jeffrey Olsen