Planning a Financially Stable Future
The American Bar Association has proven that 89 percent of all divorces can be traced to quarrels and accusations over money. That being said, having a financially stable young family requires careful planning and wise financial habits. Some tips to help achieve financial stability include: Pay an honest tithe: Successful financial management in every LDS home begins with an honest tithe. Paying an honest tithe shows your obedience and dedication to fulfilling God's work. "When we pay tithing we show gratitude for all that God has given us and return to Him a portion of what we have received" (The Church of Jesus Christ of Latter-Day Saints). Create a Budget : Start by tracking your income and expenses to create a realistic budget. Allocate your income towards essential expenses like housing, utilities, food, and transportation. Set aside a portion for savings and investments, and establish limits for discretionary spending. Emergency Fund : Build an emergency fund that c...