Self-Reliance
3: My Foundation


“Ensuring That I Have a Profitable Business: My Foundation: Manage Money,” Starting and Growing My Business for Self-Reliance (2017)

“Ensuring That I Have a Profitable Business: My Foundation”

My Foundation: Manage Money

Maximum Time: 20 Minutes

Ponder:

Why is managing money so hard—and so important?

Watch:

“First Things First!” available at srs.lds.org/videos. (No video? Read the script at the end of this section.)

Discuss:

Why should we keep track of and save our money?

Read:

Doctrine and Covenants 104:78 and the statement from All Is Safely Gathered In.

Discuss:

Read the self-reliant approach to managing money (below). How can we make this a habit?

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Self-Reliant Approach To Managing Money

Commit:

Commit to do the following actions during the week:

  • Keep track of what you spend and earn each day. At the end of the week, add up the numbers and record the total amounts on the Personal Income and Expense Record (below).

  • Share what you’ve learned today about managing money with your family or friends.

Personal Income and Expense Record

How Much Do I Spend Weekly?

How much do I need each month to be self-reliant?

Week 1

Week 2

Week 3

Week 4

Income

Expenses

Tithes, offerings

Savings

Food

Housing

Medical expenses

Transportation

Educational expenses

Debt payments

Clothing

Utilities

Phone

Entertainment

Insurance

Other

Total expenses