Finances

There is nothing wrong with aspiring to greatness, but we are warned against vain ambition. So where do we draw the line?

When we long for blessings that seem to come easily to others, we can find peace by better understanding exactly what the Lord has promised.

In several spots in scripture, God promises that “as ye keep the commandments, ye shall prosper in the land.”

Last week, Deseret News and Church News interviewed the Presiding Bishopric of The Church of Jesus Christ of Latter-day Saints. The interview gave insights into the Church's financial operations.

Earlier this week, the Presiding Bishopric of The Church of Jesus Christ of Latter-day Saints sat down for rare interviews with Deseret News and Church News. Deseret Newshighlighted some of the misconceptions portrayed by other news organizations about Church finances. Church News discussed how the Church’s reserve fund helps them accomplish the four purposes of the Church. A summary of both articles is provided below as well as links to both of the articles.

For Bishop Caussé, that bill is worth far more than ten dollars. In fact, he has kept it tucked in his scriptures years.

As they approach later life, Latter-day Saints share many concerns with people of all faiths, such as financial planning, maintaining good health, and future association with family and friends. But some things are unique. Latter-day Saints live longer and have a different set of values than people of other faiths, which impels them toward a more active life of service and personal development. The high value they place on family life also makes a significant difference. Finding fulfillment in later life will depend on a number of factors, several of which are within our own volition. As we “embrace the future,” with all its opportunities and challenges, we should remember with Longfellow that “age is opportunity no less Than youth itself, though in another dress.”1

When both partners are involved in financial decisions and processes, they’re more empowered, and relationship quality and stability tend to be higher, according to a study from BYU researchers.

“As devastated and as sick as we were,” Jackee Belnap told News4Utah after her 2-year-old son shredded $1,060, “this was one of those moments where you just have to laugh.”

The following is an excerpt from Elder Dallin H. Oaks's book Pure in Heart.

No one would have guessed that Debby Montgomery Johnson, a former paralegal, Air Force intelligence officer, and bank teller, would be taken for over a million dollars by a scammer on an online Latter-day Saint dating site. In fact, no one would even know if she hadn’t spoken up about it. Debby could have continued to hide behind her smile, keeping her secret buried deep.

The Church released answers to frequently asked questions concerning its finances on Tuesday, including how tithing funds are used and the measures that are in place to ensure the correct use of tithing. To further aid members with their questions concerning the Church's finances, Presiding Bishop Gérald Caussé published a companion article to his remarks at the 2018 Church History Symposium, “Financing Faith: The Intersection of Business and Religion.”

Wedding season is in full swing! And for LDS couples, one great way to keep wedding costs down is by having a reception in the church's cultural hall. Skeptical? Check out these amazing transformations we found on Pinterest!

In aNew Era article on mission preparation, President M. Russell Ballard said the following about paying for a mission:

How are the Church's finances managed? And what are the principles that govern the decisions Church leaders make? Bishop Gérald Caussé spoke about this topic at a keynote address.

In a 2008 article about the Rexburg Idaho Temple, the Deseret News reported:

Most romantic relationships start out good, but they don't all end that way. Sadly, for every stroll into the sunset somebody takes with a new life partner, somebody else gets stuck in an emotionally abusive relationship.

Pennies are worth one cent, nickels are worth five, and dimes are worth ten. People of all cultures learn the values of their currency early in life and deal with them on a daily basis. Perhaps that's why it's so surprising that not all coins are worth what they're actually worth.

The state Department of Commerce Thursday received a report of a scam targeting the grandparents of LDS missionaries with a ploy that their grandchild was in trouble and needed them to send money.

Sometimes it’s nice to be able to have the end of your goal in sight—like when you’re sitting in traffic or when you’re trying to achieve an objective, particularly a financial one.

The start of a new year provides a great opportunity to look at your retirement accounts, whether you want to increase your contributions or simply begin to build your savings.

In his latest YouTube prank, Stuart Edge wanted to see what kind of crazy stunts people would be willing to do for $500. From walking on hot coals to getting an apple knocked off their head by an archer, check out the hilarious things people were willing to do for a little extra cash.

What could be more appealing than a zero-interest credit card? You can make purchases and pay for them at your leisure, all without having to worry about high interest hanging over your head. If you are considering a zero-interest credit card, the following points can help you maintain a balanced financial life.

Financing a home can be a confusing process for first-time buyers. There are large sums of money exchanging hands, complex legal documents to review and sign and possibly some unfamiliar terms. With a little bit of advanced knowledge and preparation, you can manage the mortgage application process like a pro.

In the financial world, we’ve moved light years ahead in the area of technologies that add convenience and a complete money-management experience.

One of the biggest expenses you will have each month as an adult is housing, whether it’s for rent or for a mortgage. Now may be the time to review your individual circumstances and consider your options.

In the very long history of American higher education, the idea of ranking colleges is actually a fairly recent development.

“Though money is important, we must view its purpose with an eternal perspective,” said E. Jeffrey Hill, a BYU professor in the College of Family Life at the campus Devotional on Tuesday. “Money is meant to be a means for serving our families and our God. When consecrated to those purposes, it is of great worth.”

If you’re like me, your home is like a member of your family with its own personality and quirks, and you love it because of (and sometimes in spite of) those quirks.

In a memorable General Conference address in October 1998, President Gordon B. Hinckley advised members of The Church of Jesus Christ of Latter-day Saints around the world that “the time has come to get our houses in order.” In the years since President Hinckley’s remarks, the United States has endured two economic recessions, including the most severe recession of the post-World-War-II era. But did you realize that in every decade since the 1930s, the U.S. has experienced at least one and in some cases two recessions? When difficult financial or economic conditions arise, having your financial house in order will allow your family to weather the storm.

One family, one college, all returned missionaries and a debt-free graduation: there was something to celebrate when the Shauna and Merrill Gee family watched their youngest two children walk across the Brigham Young University stage last week, the last in a 17-year span of having a child in college.

Dallin Checketts began pushing a mower and sweating in the family lawn care business with his older brothers at age 12. Amid full calendars with school, church, sports and other activities, the boys made time to collect their clients’ grass clippings with the ultimate goal of saving money to pay for their looming LDS missions.

"Those who have something to give to humanity revel in their work, and do not have to rationalize, advertise, or evangelize to make themselves feel good about what they are doing.”

A recent article* from Slate magazine proclaims “you’re doing allowance wrong.” And it might be right.

LDS Charities of The Church of Jesus Christ of Latter-day Saints gave a $1.8 million donation to the American Red Cross Thursday from the proceeds of “Meet the Mormons,” a film the Church released last October. Gary E. Stevenson, the Church’s presiding bishop, presented the check to Cliff Holtz, president of Humanitarian Services of the American Red Cross, at an event in Salt Lake City.

Most of us will have to incur some debt in our lifetime. Some even find themselves in a continuous debt cycle. Though not all debt is bad debt, we have been counseled for years by our leaders to minimize our debts and strive to become debt free.

Just save $300 a month. It's a challenging number, since few of us can find an extra $300 a month without some effort and sacrifice. But it’s doable, and it's enough to make a real difference in your nest egg by retirement.

Last night, Mitt Romney spoke to a full house at Abravanel Hall in Salt Lake City. Discussing everything from terrorism to global warming, he also shared a few bits of wisdom to help people improve their financial situation.

At a time when concerns about family finances are widely believed to be a leading cause of marital discord and divorce, our efforts to manage our finances wisely are perhaps more important than ever. During my adult life in the Church, I have observed a number of common financial mistakes individuals and families make that, if avoided, will lead to greater peace and financial security. Below, I summarize seven of these mistakes:

In the vicinity where I once lived and served, the Church operated a poultry project, staffed primarily by volunteers from the local wards. Most of the time it was an efficiently operated project, supplying to the bishops’ storehouse thousands of fresh eggs and hundreds of pounds of dressed poultry. On a few occasions, however, being volunteer city farmers meant not only blisters on the hands but also frustration of heart and mind.

Wedding buzz is certainly in the air (actually, mostly in my Facebook feed and on my refrigerator). But it got me thinking. What does the average Mormon spend on a wedding? Legend has it that Mormon weddings are a lot cheaper than the average spent on other weddings. Let’s be honest. We Mormons pride ourselves on our frugality. And what’s wrong with that? Our wedding days are often much cheaper for many LDS reasons: the temple is free, church buildings charge next to nothing for their cleaning fee, friends decorate the cultural hall free of charge—the list goes on.

As a newly single Mormon mom you are probably experiencing a lot of changes and have a lot going on with family, church and school schedules. If you’re lucky, there might be a little time just for you.

With the fairly recent announcement lowering the missionary age to 19 for sisters, there has been a sharp increase in the number of young women signing up to serve missions. This is wonderful and exciting! If you are one of those young women considering serving a mission I can tell you from experience that it’s hard work and also one of the most rewarding experiences you’ll ever have.

When the multimillion-dollar Teton Dam disaster struck Idaho in 1976, a force of 45,000 Latter-day Saints was deployed almost overnight to provide emergency relief. When Hurricane Katrina hit in 2005, Mormon relief trucks arrived before the National Guard was even allowing relief through. Massive oil spills in South Korea in late 2007 found hundreds of volunteers handling the disaster with plans, supplies and manpower within days. The 2010 Haitian earthquake catastrophe was met immediately with 160,000 pounds of food and emergency resources, and a month later, when a devastating earthquake hit Chile, an airlift of tents, tarps, supplies and even diapers was quickly deployed.The Church is interested in helping those in need become self-sufficient in the long term as well as meeting immediate needs. After the 2004 tsunami devastated Southeast Asia, LDS Humanitarian Services personnel were still working with community-based organizations to provide longer-term aid and development three years later.

For Joe, an electrical construction estimator, unemployment can be summed up in one word: lonely.