Teaching your Family that Money Matters

8/8/2019 Teaching your Family that Money Matters

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10%10%10%10%

TITHINGTITHINGTITHINGTITHING

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SAVINGSSAVINGSSAVINGSSAVINGS

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SPENDINGSPENDINGSPENDINGSPENDING

DIVIDEDIVIDEDIVIDEDIVIDEYourYourYourYour

MoneyMoneyMoneyMoney


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1.Tithing

Successful finances begin with the paymentSuccessful finances begin with the paymentSuccessful finances begin with the paymentSuccessful finances begin with the paymentoooof an honest tithe and the giving of a generous fastf an honest tithe and the giving of a generous fastf an honest tithe and the giving of a generous fastf an honest tithe and the giving of a generous fastoffering. The Lord has promised to open the windowsoffering. The Lord has promised to open the windowsoffering. The Lord has promised to open the windowsoffering. The Lord has promised to open the windows

of heaven and pour out great blessings upon thoseof heaven and pour out great blessings upon thoseof heaven and pour out great blessings upon thoseof heaven and pour out great blessings upon thosewho pay tithes and offerings faithfully.who pay tithes and offerings faithfully.who pay tithes and offerings faithfully.who pay tithes and offerings faithfully.


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2.2.2.2.SavingsSavingsSavingsSavings

If you save a little money regularly, you wIf you save a little money regularly, you wIf you save a little money regularly, you wIf you save a little money regularly, you will be surprised howill be surprised howill be surprised howill be surprised how

much accumulates over time. It is wise to havmuch accumulates over time. It is wise to havmuch accumulates over time. It is wise to havmuch accumulates over time. It is wise to have money savede money savede money savede money savedfor a rainy dayfor a rainy dayfor a rainy dayfor a rainy day.... Saving is essential to your financial securitySaving is essential to your financial securitySaving is essential to your financial securitySaving is essential to your financial securityand peace of mind!and peace of mind!and peace of mind!and peace of mind!

Put awayPut awayPut awayPut away a little money every time you get any money. Firsta little money every time you get any money. Firsta little money every time you get any money. Firsta little money every time you get any money. Firstpay your tithing, secondpay your tithing, secondpay your tithing, secondpay your tithing, second save some money, then you cansave some money, then you cansave some money, then you cansave some money, then you can

spend!spend!spend!spend!


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10%

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Savings10% or more!

Savings10% or more!


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Spending

Spending


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This page is to help in making flags for your Dessert print this page, cut out the rectangles and

then fold them over a toothpick and glue together. Now place the flags in your cake or cookie.

Mission

Tithing

Clothing

Education

Food

Bills

Recreation

Savings


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If your teenager has a regular income (job, allowance) begin teaching him/her how tobudget their money. The time to teach them how to budget is not the week before theygo to college or leave on a mission. A budget should be a natural part of any incomeearner at any age. Budgets teach and prepare children for successful lives.

Budgeting is deciding where to spend your money

From a Budget they will learn: Am I paying my tithing FIRST? How to think ahead what do I need to save up for? (Mission, college, prom, car,

cell phone, bike, i-pod) How much do I need for entertainment? (should I be more careful in this area?) Do I have a bank account? Do I have several savings accounts to organize my savings? ( mission account,

college account, prom account, i-pod account) Do I spend less than I earn?

Teach them to budget and help them re-evaluate each month/year (just like you do).

Teenagers want to have responsibility and be trusted, they will be excited to learn how grown upsdeal with money. Good habits start today. Mistakes are less painful made as a youth than as an aduGive your child the gift of Money Smarts!!!

*Challenge every family member to read Elder Hales talk during the upcoming week and then follow-uon Sunday with a discussion about it. April 2009 General Conference

Is Tithing First? Read the talk from Elder R.D. Hales from April 2009 General Conference Memorize: 2 Nephi 9:51 Do you budget? If not, start with the attached budget sheet

Do you spend Less than you earn? If not, set some goals, find money saving tipsread money saving books and get educated!

Do you regularly save? How much are you saving now? Are you saving forretirement? Do you need to start or up those amounts?

Do you have debt?o Make a plan to get out of debt!o Use Elder Marvin J. Ashtons booklet One for the Moneyo There are many free on-line debt reduction calculatorso Know what it will take to get out of debt!

Adapting to TeenagersAdapting to TeenagersAdapting to TeenagersAdapting to Teenagers

Adapting to CouplesAdapting to CouplesAdapting to CouplesAdapting to Couples & Singles& Singles& Singles& Singles

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Teaching your Family that Money Matters