Budget to Live Within Your Means
"...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
"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
"'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
Budgeting with Your Spouse
"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.)
"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.)