Money and the Family

I really enjoyed reading through the pamphlet One For the Money by Elder Marvin J. Ashton. There are so many financial principles that can be beneficial to every adult. So many people are a slave to money and debt. It is really devastating that so many families and marriages are destroyed over the lack of financial control.

The principles are
1: Pay an Honest Tithing. Dave Ramsey teaches a similar principle. He teaches that we should be generous with our money and help others around us.
2: Learn to Manage Money Before it Manages You
3: Learn Self-Discipline and Self-Restraint in Money Matters
4: Use a Budget
5: Teach Family Members Early the Importance of Working and Earning
7: Teach Each Family Member to Contribute to the Total Family Welfare
8: Make Education a Continuing Process
9: Work Toward Home Ownership
10: Appropriately Involve Yourself in an Insurance Program
11: Understand the Influence of External Forces on Family Finances and Investments
12: Appropriately Involve Yourself in a Food Storage and Emergency Preparedness Program

I know that many people avoid a budget because they are either scared of their financial situation, or the don't like feeling a lack of freedom in their spending habits. In class a girl shared an analogy with me of a horse and bridle. Finances are like a horse, a budget is like a bridle. If you just hop on a horse with no bridle you will most likely end up somewhere you really didn't want to go. If you and your spouse are both tugging on the bridle in different directions you won't end up anywhere.

If you plan out your goals and create a budget that leads to those goals, you have a greater chance of actually getting there. I know that once my husband and I started really budgeting, we have felt so much freedom and peace of mind. I love logging on to our mint.com account and feeling in control of our finances.