Family Finances
    couple looking at budget

    Family Finances


    “We encourage you wherever you may live in the world to prepare for adversity by looking to the condition of your finances. We urge you to be modest in your expenditures; discipline yourselves in your purchases to avoid debt. … If you have paid your debts and have a financial reserve, even though it be small, you and your family will feel more secure and enjoy greater peace in your hearts” (All Is Safely Gathered In: Family Finances).

    Every family has the responsibility to provide for its own needs to the extent possible. The responsibility to manage family finances should be shared between husband and wife with an attitude of trust and openness. Wise financial management can provide security and promote family well-being. Members may experience financial troubles due to unemployment, overspending, unexpected emergencies, or mismanagement of finances. Paying an honest tithing, living within your means, saving for unexpected expenses, and avoiding debt are essential parts of financial stability.

    How can my family manage our finances?

    Keep a record of your expenditures. Record and review monthly income and expenses. Determine how to reduce what you spend for nonessentials.

    Use this information to establish a family budget. Plan what you will give as Church donations, how much you will save, and what you will spend for food, housing, utilities, transportation, and clothing.

    Take the Family Finance Workshop course.

    How can my family avoid debt?

    Spending less money than you make is essential to your financial security. Avoid debt, with the exception of buying a modest home or paying for education or other vital needs. If you are in debt, pay it off as quickly as possible.

    15 Financial Calculators:

    Additional Financial Calculators

    How can paying tithing and fast offerings help me manage my finances?

    Successful family finances begin with the payment of an honest tithe and the giving of a generous fast offering. The Lord has promised to open the windows of heaven and pour out great blessings upon those who pay tithes and offerings faithfully (see Isaiah 58:6–12; Malachi 3:10).

    If our tithing and offerings are the first obligations met, our commitment to this important gospel principle will be strengthened and the likelihood of financial mismanagement will be reduced.

    How can I teach my family about good financial practices?

    Teach family members the principles of financial management. Involve them in creating a budget and setting family financial goals. Teach the principles of hard work, frugality, and saving. Stress the importance of obtaining as much education as possible.

    Related Topics


    Scripture References

    Scripture Study Resources

    Prophets and Church Leaders

    Leader Messages

    Additional Talks

    Teachings of Presidents of the Church



    “Becoming Provident Providers”

    “Fast Offerings—The Jerry Foote Family”


    “Family Finances—Part 1,” Gospel Solutions for Families, episode 77

    “Family Finances—Part 2,” Gospel Solutions for Families, episode 78

    “Financial Tips for Young Adults,” Mormon Channel Daily, episode 734

    “Financial Tips for Newlyweds—April 22, 2015,” Mormon Channel Daily, episode 738

    “Interview with Family Finance Guru, Jordan Page,” Mormon Channel Daily, episode 863


    Learning Resources

    General Resources

    “Purposes of Church Welfare,” Handbook 2, 6.1

    All Is Safely Gathered In

    “The Family Finance Workshop: Facilitator’s Guide,”

    “The Family Finance Workshop: Participant’s Guide,”

    “The Family Finance Workshop: Spending Register,”

    One for the Money: Guide to Family Finance,

    Church Magazines

    “Power Tools for Family Finances,” Ensign, June 2009

    “Focus on Family Finances,” Ensign, June 2009

    “Stretching Your Dollars,” Ensign, June 2009

    “Guide to Family Finance,” Ensign or Liahona, April 2000

    Study Manuals