1. The Difference between Wants and Needs
“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.”
2. Living within our means
"One of the better ways to simplify our lives is to follow the counsel we have so often received to live within our income, stay out of debt, and save for a rainy day. We should practice and increase our habits of thrift, industry, economy, and frugality. Members of a well-managed family do not pay interest; they earn it."
L. Tom Perry, "Let Him Do It with Simplicity, Ensign," Nov. 2008, 9
3. Tithing: Foundation of Provident Living
“The foundation of provident living is the law of the tithe. The primary purpose of this law is to help us develop faith in our Heavenly Father and His Son, Jesus Christ. Tithing helps us overcome our desires for the things of this world and willingly make sacrifices for others.”
Contributed by Andrea Summers
