Why is it important to bring all members into the circle of
doing finances? What are those benefits? I is always wise to keep both parents
in full knowledge of the family money. Finance is not just income, it is also
what you are spending, and the activities you want to get, and investments. In
class we used the booklet ‘One for the Money Guide to Family Finance,’ by Elder
Marvin J. Ashton. Elder Ashton offers a 12 step guide on the most important
factors that will help keep the family together while working on goals with
finances.
1.
Pay an honest tithe
2.
Learn to manage money before it manages you
3.
Learn self-discipline and self-resistant in
money matters
4.
Use a budget
5.
Teach family members early the importance of
working and earning
6.
Teach children to make money decisions in
keeping with their capacities to comprehend
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 eternal forces on family finances and investments
12. Appropriately
involve yourself in a food storage and emergency preparedness program
# 1 of paying an honest tithe is extremely important to me
because I personally believe that we would not have the money in the first
place without the help and mercy from God. So, for us to offer 10% back to the
Lord and His Church is nothing compared to the portion that we still receive.
#3 is also important because we need to understand the
differences between wants and needs. While it is good to fill our wants every
once in a while, it is more important to deal with the needs and necessities in
life first.
#4 knowing when and where the money is coming and going is
vital. People today struggle with not even knowing close to the numbers in
there bank accounts. They over spend and get themselves into debt, which is
harder and harder to decrease as the years roll on.
#5 understanding working and earning is also important.
There are many people today who think of themselves entitled to things in this
life. They do not understand the simple principles of working for items and
earning them.
