Budgeting Quotes

Budgeting Advice and Guidance from LDS Church Leaders

Some excellent quotes about budgeting from the leaders of the Church of Jesus Christ of Latter-day Saints who have continually counseled people to get their finances in order by using a budget.

Budget to Live Within Your Means

United States Money, Photo: Public Domain, GNUFDL
Start Saving Now. Public Domain, GNUFDL

"Live strictly within your income and save something for a rainy day. Incorporate in your lives the discipline of budgeting that which the Lord has blessed you with. As regularly as you pay your tithing, set aside an amount needed for future family requirements. Include your children while planning for the future. I am convinced that in many backyards, a crop of corn, raspberries, or tomatoes, planted and harvested by your children each year and sold to your neighbors, will in time yield enough to make a major contribution to a mission or a college education fund. Go out in your garages and look over the unused bicycles, toy cars, athletic equipment, skis, roller blades, et cetera, and calculate what the return would have been had the cost of these items been invested in future needs. Remember, I emphasized unused articles. How many of you have seen garages so full of things that there is no longer room for the car?

"...avoid excessive debt. Necessary debt should be incurred only after careful, thoughtful prayer and after obtaining the best possible advice. We need the discipline to stay well within our ability to pay. Wisely we have been counseled to avoid debt as we would avoid the plague. President J. Reuben Clark fearlessly and repeatedly counseled members of the Church to take action.

"'Live within your means. Get out of debt. Keep out of debt. Lay by for a rainy day which has always come and will come again. Practice and increase your habits of thrift, industry, economy, and frugality' (in Conference Report, Oct. 1937, p. 107)." (Elder L. Tom Perry, "'If Ye Are Prepared Ye Shall Not Fear'," General Conference, Oct, 1995.)

A Better Manager of Your Resources

US Coins, Save your Change, Photo: Elembis, Public Domain
Save your Change. Elembis, Public Domain

"Let us become better managers of our economic resources. The first step could be to plan a workable budget. This should be one that is uniquely right for us. Our budget, in addition to allowing for the basic payments to the butcher, the baker, and the mortgage loan banker, should include a payment to ourselves—in the form of savings, even though it may be meager at first....

"Let us practice prudence in our homes, become better meal planners, housekeepers, and home decorators. Let us acquire the sewing and tailoring skills that will help our clothing look custom-made and that will help keep it in good repair. Let us make our kitchens creative centers from which emanate some of the most delightful of all home experiences....

"Life is made up of small daily acts. Savings in food budgets come by pennies, not only by dollars. Clothing budgets are cut by mending—stitch by stitch, seam by seam. Houses are kept in good repair nail by nail. Provident homes come not by decree or by broad brushstroke. Provident homes come from small acts performed well day after day. When we see in our minds the great vision, then we discipline ourselves by steady, small steps that make it happen. It is important to realize this correlation between the large and the small. (Barbara B. Smith, "Follow Joyously," General Conference, Oct, 1980.)

A Carefully Planned Budget for Every Family

Budget Worksheet
Budget Worksheet. Rachel Bruner

"In a letter pertaining to a divorce clearance, the following appeared:

"'It appears that the cause of this divorce was financial irresponsibility on the part of the husband and poor money management on the part of both the husband and the wife. The applicant states that she has no knowledge of any unfaithfulness on the part of her husband. He stated emphatically that he was never untrue to his wife during their marriage.'

"Yet they had such difficulty getting along financially that they sought to terminate their marriage. Here is a family who may have been still intact and happy with each other if it had not been for the lack of a budget carefully worked out and carefully carried forward.

"We talked to you last conference about a carefully planned budget for every family. Such will save many family quarrels and much misunderstanding." (President Spencer W. Kimball, "The Stone Cut Without Hands," General Conference, Apr, 1976.)

Follow Advice of Prophets to Budget

President Thomas S. Monson
President Thomas S. Monson. The Church of Jesus Christ of Latter-day Saints

"How many poor financial judgments would have been avoided had we listened to the years of advice given through our prophets about avoiding risky speculation and following a careful budget to avoid consumer debt?... Each general conference and Church magazine contains advice from the prophets which, if applied, will lead us to good judgment. We are left without excuse when we ignore them." (Elder Gregory A. Schwitzer, "Developing Good Judgment and Not Judging Others," General Conference, Apr, 2010.)

Budgeting with Your Spouse

"Selfishness and other sins are responsible for most divorces. The apostle Paul knew the answer. He said for men to love their wives and wives to love their husbands. For two people to work out their marriage together, they need a carefully worked out budget, made by both husband and wife, and then careful adherence to the same. Many marriages are defeated in the marketplace when unscheduled purchases are made. Remember that marriage is a partnership and is not likely to be successful otherwise." (President Spencer W. Kimball, "The Time to Labor Is Now," General Conference, Oct, 1975.)

"Husbands, recognize your wife's intelligence and her ability to counsel with you as a real partner regarding family plans, family activities, and family budgeting. Don't be stingy with your time or with your means.

"Give her the opportunity to grow intellectually, emotionally, and socially as well as spiritually." (President Ezra Taft Benson, "To the Fathers in Israel," General Conference, Oct, 1987.)

Family Budgeting

Eternal Family
Eternal Family. Photo Used With Permission

"Another important way we help our children learn to be provident providers is by establishing a family budget. We should regularly review our family income, savings, and spending plan in family council meetings. This will teach our children to recognize the difference between wants and needs and to plan ahead for meaningful use of family resources.

"When our boys were young, we had a family council and set a goal to take a 'dream vacation' down the Colorado River. When any of us wanted to buy something during the next year, we would ask each other, 'Do we really want to buy that thing now, or do we want to take our dream trip later?' This was a wonderful teaching experience in choosing provident living. By not satisfying our every immediate want, we obtained the more desirable reward of family togetherness and fond memories for years to come.

"Whenever we want to experience or possess something that will impact us and our resources, we may want to ask ourselves, 'Is the benefit temporary, or will it have eternal value and significance?' Truthfully answering these questions may help us avoid excessive debt and other addictive behavior." (Elder Robert D. Hales, "Becoming Provident Providers Temporally and Spiritually," General Conference, Apr, 2009.)