Week 11 - Money Matters

Based on this week’s reading of “Attitude on Money” by Stephen W. Gibson, we were asked to answer three questions:

• What is your attitude towards money?
• How can your view of money affect the way you live?
• What rules are recommended for prospering?

The answer to the first question is one that’s evolved over time for me. I was raised by parents who did not teach me healthy financial habits or skills. We always struggled financially and money took on the role of stress and contention. We always managed to get by, but never thrived or enjoyed the benefits of having extra. As I came into adulthood, I made a lot of financial mistakes. I accrued unnecessary debt and felt the pains of rectifying that situation early on. As I learned to manage my finances and make sound decisions in regards to my income, purchases and responsibilities, I have found that the financial contention that existed in my childhood has been avoided. As a family we work hard, meet our obligations and responsibilities and also enjoy the freedoms that money can provide (within reason). Through these practices, I’m hoping to instill in my children a healthier relationship with money than I had.

We often hear the phrase, “Money is the Root of all Evil.” While money can bring out the worst (or best) in us, it isn’t the root of evil – greed, obsession and jealousy are. Gibson shares the following in the article, “The first thing we need to understand about money is that is not evil. Money is neither good nor bad. The Love of money or the obsession with accumulating money from others unrighteously, no matter what the method, may be evil, but money in and of itself is neither good nor evil." When we view money as a tool that we can master, we will see the importance of making it work for us instead of us working for it. Ways we can do this include living within our means, pursuing our passions and working to intersect those with our professional pursuits, and by gaining financial education throughout our lifetimes. The way we view money can affect the home we live in, the hobbies we pursue, the car we drive, and the time we have available for making memories as a family (among other things). As we make financial decisions with particular goals in mind, we are better able to establish milestones and measurables along the way. The way we make and spend our money can expose our true character - it is important to be well-balanced in our financial habit forming.

Gibson outlines several rules for prospering, all of which involve our own spiritual growth as well. Those rules are as follows:

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.

As we learn to implement these rules into our own lives, we will be sure to find not only financial success, but a stronger relationship with our Father in Heaven, our families and the communities in which we live.