Ch14-15. Children, Money, & Consecration

8 Financial Principles to Teach ur Children

1. Open Financial Communication in the Home.

   • Effective parents communicate openly about

     their finances with their children.

   • They instill confidence that their children can make good financial decisions.

2. Save & Sacrifice**

   • **Effective parents make their children wait to make purchases until they have the money.

   • first discharge your debt to the Lord (tithing), then you save, and then you are able to spend what’s left.

3. Work Hard w/ & w/o pay

   • Effective parents foster a spirit of entrepreneurship by encouraging their children to earn money themselves outside the home.

   • Teach the connection b/t work & money.

4. Live w/in Your Means

   • Effective parents teach their children to be frugal & avoid debt.

5. Use a Family Budget

   • Effective parents set, live within, and share their household budget with their children

6. Provide Real-World Financial Experience**

   • **Effective parents provide real-world experiences with money and financial institutions.

7. Give Freely of Your Resources

   • Effective parents teach their children to freely give to institutions and people in need.

8. Example is the Best Teacher**

   • **Effective parents model the application of sound financial principles.

**Fam finance—from eternal perspective—is simply the temporal application of spiritual principles.

TRUE

**Why should I learn abt fam finance? The Why’s

• Spiritual: To Bring You To Christ

• Temporal: To Help U Become A Wise Steward

• Individual: To Accomplish Ur Divine Mission

• Family: To Return W/ Ur Fam Back to Heavenly Father’s Presence

What r the eternal principles that financial stewardship is based on? The What’s

1. Ownership

   • Everything belongs to God

2. Stewardship

   • Because God owns everything, you have a responsibility to use your resources wisely for His purposes.

3. Agency

   • God’s greatest gift to man.

4. Accountability

   • If followed wisely, can be your gift back to God.

Ways We Can Effectively Share Our Resources W/ Others:

1. Be a Diligent Full-Tithe Payer

2. Be Generous W/ Fast Offerings

3. Be Generous W/ Other Offerings

4. Be Generous by Contributing to Missionary Work

   • General missionary

   • Ward missionary

5. Be Generous by Blessing the poor W/ Ur Resources

   • Human Aid

   • Perpetual Education Fund

   • Temple Patron Assistance Fund

6. Look for Other Ways to Share Ur Resources & Bless God’s Children

7. Share Ur Resources Anonymously W/ Friends in Need

8. Share Urself Along W/ Ur Resources

9. Bless Ur Fam & Ur Extended Fam W/ Ur Resources