PERSONAL FINANCES FOR SELF-RELIANCE

PERSONAL FINANCES FOR SELF-RELIANCE

MESSAGE FROM THE FIRST PRESIDENCY Dear Brothers and Sisters: The Lord has declared, It is my purpose to provide for my saints (D&C 104:15). This revelation is a promise from the Lord that He will provide temporal blessings and open the door of self-reliance, which is the ability for us to provide the necessities of life for ourselves and our family members. This workbook has been prepared to help members of the Church learn and put into practice principles of faith, education, hard work, and trust in the Lord. Accepting and living these principles will better enable you to receive the temporal blessings promised by the Lord. We invite you to diligently study and apply these principles and teach them to your family members. As you do so, your life will be blessed. You will learn how to act on your path toward greater self-reliance. You will be blessed with greater hope, peace, and progress. Please be assured that you are a child of our Father in Heaven. He loves you and will never forsake you. He knows you and is ready to extend to you the spiritual and temporal blessings of self-reliance. Sincerely, The First Presidency Published by The Church of Jesus Christ of Latter-day Saints Salt Lake City, Utah 2016 by Intellectual Reserve, Inc. All rights reserved. Printed in the United States of America English approval: 8/16

CONTENTS Evaluating My Efforts For Facilitators ii iv 1. Becoming a Wise and Faithful Steward 1 2. Becoming Unified in Our Approach to Finances 17 3. Paying Tithes and Offerings 33 4. Creating a Budget 51 5. Sticking to a Budget 69 6. Protecting Your Family from Hardship 87 7. Understanding Debt 107 8. Getting out of Debt 125 9. Managing Financial Crises 141 10. Investing for the Future (Part 1) 159 11. Investing for the Future (Part 2) 179 12. Continuing to Give and Bless Others 197 i

EVALUATING MY EFFORTS INSTRUCTIONS: Evaluate your effort to keep the commitments you make each week. Share your evaluation with your action partner. Ponder ways you can continue to improve as you practice forming these important habits. A Practice and share the My Foundation principle B Plan and Manage My Finances Example Be obedient Track expenses Week 1 Self-reliance is a principle of salvation Track expenses Week 2 Exercise faith in Jesus Christ Track expenses Week 3 Repent and be obedient Track expenses Week 4 Live a balanced life Build a budget Week 5 Solve problems Choose a budgeting system Week 6 Use time wisely Put money toward financial priority Week 7 Show integrity Put money toward financial priority Week 8 Work: take responsibility and persevere Put money toward financial priority Week 9 Communicate: petition and listen Put money toward financial priority Week 10 Seek learning: resolve where you are going and how to get there Put money toward financial priority Week 11 Become one, serve together Put money toward financial priority ii

KEY: Minimal Effort Moderate Effort Significant Effort C Hold a Family Council D Contact and Support My Action Partner Action Partner's Initials Counsel about obedience Counsel with the Lord Counsel about income and expenses Counsel about tithes and offerings Counsel about budgeting Counsel about budgeting Counsel about emergency fund, insurance Counsel about debt Counsel about debt Counsel about crisis management Counsel about saving, home ownership, education Counsel about retirement planning iii

FOR FACILITATORS Thank you for facilitating a self-reliance group. The group should function as a council with the Holy Ghost as the teacher. Your role is to help each person feel comfortable sharing ideas, successes, and failures. DO S BEFORE EACH MEETING Download videos at srs.lds.org/ videos. Check that video equipment works. Review the chapter briefly. DON TS Prepare a lesson. Cancel meetings. If you cannot attend, please ask a group member to facilitate for you. Prepare yourself spiritually. DURING EACH MEETING Start and end on time. Ensure that everyone reports, even those who arrive late. Choose a timekeeper. Encourage everyone to participate. Be a group member. Make, keep, and report your commitments. Have fun and celebrate success. Trust and follow the workbook. AFTER EACH MEETING Contact and encourage members during the week. Evaluate yourself using the Facilitator Self-Assessment (page v). Teach or act as the expert. Speak more than others. Answer every question. Be the center of attention. Sit at the head of the table. Stand up to facilitate. Skip the Ponder section. Give your opinion after each comment. Forget to update the stake self-reliance specialist on the group s progress. IMPORTANT: REPORT AND IMPROVE Complete the Group Registration Form at your first meeting and the End of Group Report and Certificate Request Form at your last meeting. Visit srs.lds.org/report. Review the booklet Facilitating Groups at srs.lds.org/facilitator. iv

FACILITATOR SELF-ASSESSMENT After each group meeting, review the statements below. How well are you doing? HOW AM I DOING AS A FACILITATOR? Never Some- times Often Always 1. I contact group members during the week. 2. I share my excitement and love for each group member. 3. I help ensure that every group member can report on his or her commitments. 4. I talk less than other group members. Everyone participates equally. 5. I let group members answer questions instead of answering them myself. 6. I stay within the recommended time for each section and activity. 7. I make time for the Ponder section so the Holy Ghost can guide group members. 8. I follow the workbook as written and complete all sections and activities. HOW IS MY GROUP DOING? Never Some- times Often Always 1. Group members love, encourage, and serve each other. 2. Group members keep their commitments. 3. Group members are achieving both temporal and spiritual results. 4. Action partners regularly contact and encourage each other during the week. v