Financial Security

Monday, April 7, 2014


We all want financial security. It's something we should work to and strive to have. It will give you peace and help you to feel more secure. Here are some ways to gain financial security:

  •  Spend less money than you make with the exception of getting in debt for an education, modest home or other vital needs. An expensive Coach purse or the latest trend in fashion is not a vital need. If you are in debt, pay it off as quickly as possible.
  • Budgeting can help you reduce non-essential spending, plan for the future and help discipline your family on how to use finances wisely.
  • Gradually build a financial reserve to use for emergencies only. This will help prevent you from going into debt and you will be surprised how quickly you can save money.
  •  Teach your children about the importance of financial management, the importance of obtaining an education or employable skills, frugality, hard work and saving.

BYU has a FREE online course on Personal Finance. To take the free course, go to personalfinance.byu.edu.

LDS.org also offers financial calculators available at providentliving.org/self-reliance/finances/financial-calculator?lang=eng.
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