Journal Week 11

The Article “Attitude on Money” By Stephen W. Gibson had some profound insights on the topic of money.  He stated that money is a necessary part of life for each of us.  It can’t be avoided and so we should learn how to use it in positive ways. 

I really like the author’s emphasis on the story of “The Good Samaritan”.  It’s true that we usually look at the story as an example of service or kindness, which it is.  But the author demonstrated the great good the Samaritan was able to do because of his preparation and his money- first, having it, and then being willing to spend it on the welfare of another.

My mother is like the author’s sister, who doesn’t want to even talk about money.  Mom was a single parent of 7 children and money was tight for all of my growing up years. She still hasn’t learned how to effectively handle money. When she pays bills, she gets physically sick to her stomach. When we were younger, there was never enough money to meet the needs of the family. I remember as a teenager, looking at my friends who went to the mall with friends and came home with new outfits.  I wasn’t jealous of the stuff.  But my mind just couldn’t comprehend that some families made enough money to pay for rent, food, and utilities and STILL have any left over to buy “extras” such as clothes. 

I’m so very grateful that my attitude about money for my adult years has been very good. My husband provides for my family very well.  In fact, I sometimes feel that my children are given too much without having to work enough.  It’s a tough balance to achieve.  The most important factor in this attitude is that my husband and I talk about our finances regularly.  He pays the bills, manages the investments, and plans the budget actively.  I appreciate his work.  At the same time, I often sit with him as he does that work to watch, talk, and discuss what’s being done.  We stick to a budget and openly discuss upcoming expenses and purchases. 

Our view on money has influenced our family in positive ways.  We have never fought about money.  We are confident that our retirement plans and savings accounts will be able to provide for our needs when we retire.  Our children are being taught how to spend wisely and not go into debt.  Just today we took my 13-year-old daughter to open her first checking account.  We are confident that she will be responsible based on her past experiences with money.  We also give our children opportunities to make money mistakes when the stakes are low.  If my daughter goes into debt for a $20 item when she is a teen, she’ll hopefully learn so she won’t make a mistake with something large like a car when she’s a young adult. 

I know that following these principles will continue to bless my family. I’m grateful to have learned correct principles for handling finances, including principles of the gospel such as tithing, fast offering, and serving others.

In this book, Gibson gave six valuable rules for prospering.  They are:

Rule 1. Seek the Lord and have hope in him

Rule 2. Keep the commandments, that includes the temporal ones, tithing and fast offerings.

Rule 3. Think about money and plan how you can become self-reliant.

Rule 4. Take advantage of chances for learning so you will not be ignorant of these matters. Education, as President Hinckley has taught us, is the Key to Opportunity.

Rule 5. Learn the laws upon which the blessings of wealth are predicated.

Rule 6. Do not send away the naked, the hungry, the thirsty or the sick or those who are held captive.