Too often we bask in our comfortable complacency and rationalize that the ravages of war, economic disaster, famine, and earthquake cannot happen here. Those who believe this are either not acquainted with the revelations of the Lord, or they do not believe them. Those who smugly think these calamities will not happen, that they somehow will be set aside because of the righteousness of the Saints, are deceived and will rue the day they harbored such a delusion. - Ezra Taft Benson

Friday, June 21, 2013

The Importance of Living Within our Means

As a young couple, Spencer W. Kimball and his wife, Camilla, “knew they weren’t rich. But they had work and ability. They knew how to manage their own money, living within their income, saving for the future.  From the Teachings of Spencer W. Kimball we read the following:

If we are prepared, we shall not fear.
"The Kimballs lived through times of widespread economic difficulties—World War I (1914–18), the Great Depression (1929–39), and World War II (1939–45). Having experienced these challenges, President Kimball concluded, “What I have seen with my own eyes makes me afraid not to do what I can to protect against the calamities.”
"Among the things he saw were the struggles of others: “All my life from childhood I have heard the Brethren saying, ‘get out of debt and stay out of debt.’ I was employed for some years in the banks and I saw the terrible situation that many people were in because they had ignored that important counsel.”
"In addition to his bank work, Spencer kept the account books for some of the local stores. “One of the shocking things of my life was to find on the books the accounts of many of the people in the community that I knew. I knew them. I knew approximately what their income was, and then I saw them wear it away. In other words, I saw they were buying their clothes, their shoes, everything they had ‘on time.’
“And I found that it was my duty to make the bills at the end of the month for them. And many of them couldn’t pay at the end of the month. They couldn’t pay even the installments that were arranged for them. And having been reared in a home that took care of its funds, I couldn’t understand it. I could understand how a person could buy a home on time or perhaps could even buy an automobile on time. But I never could quite understand how anybody would wear clothes they didn’t own. Or eat food that they had to buy ‘on time.’”
"In his teachings President Kimball addressed not only financial issues but also other matters related to provident living, such as personal responsibility, work, and home food production and storage. He said: “Let us practice the principles of personal and family preparedness in our daily lives. ‘If ye are prepared ye shall not fear’ (D&C 38:30).”