Constancy Amid Change (1980)

An address President First Counselor

by Tanner,

in the First

at the 149th General

given

N. Eldon

Conference 6 Oct.

Presidency,

Semiannual Welfare

Session,

1979

Published by The Church of Jesus Christ of Latter-day Saints Salt Lake City, Utah 1979 Copyright Š 1979 by Corporation of the President of The Church of Jesus Christ of Latter-day Saints All rights reserved Printed in the United States of America

u r i n g W o r l d W a r II, a m e m b e r of tfie Q u o r u m of tfie T w e l v e .

Elder A l b e r t E B o w e n , w r o t e a book compiled from a series of r a d i o addresses, which) he entitled Constancy amid Change (Salt Lake City: D e s e r e t N e w s Press, 1944).

T h e m e s s a g e s of t h e s e talks w e r e very timely. W e w e r e a w o r l d in c o n f l i c t , a n d p e o p l e the w o r l d over n e e d e d a m e s s a g e of certainty, a s s u r a n c e , a n d stability.

This p r e s e n t e r a s e e m s very similar in m a n y w a y s to t h o s e t u r b u l e n t w a r y e a r s . T o d a y w e f a c e m a n y p e r p l e x i n g i s s u e s . In a d d i t i o n to s i g n i f i c a n t international political problems, we are e x p e r i e n c i n g o n e of the m o s t difficult e c o n o m i c p e r i o d s w e h a v e f a c e d in m a n y d e c a d e s —the problem of inflation and personal financial management.

I w o u l d like to b o r r o w the title of Elder B o w e n ' s b o o k a n d s h a r e with y o u s o m e of my o w n e x p e r i e n c e s a n d c o n v i c t i o n s d r a w n f r o m the sixty y e a r s of m y w o r k i n g life. I h a v e lived d u r i n g e a c h p h a s e of the e c o n o m i c c y c l e . A s a y o u n g m a n g e t t i n g s t a r t e d in life, I e x p e r i e n c e d p e r s o n a l d e p r e s s i o n . I h a v e e x p e r i e n c e d a national a n d international d e p r e s s i o n , a s well as p e r i o d s of r e c e s s i o n a n d inflation. I h a v e w a t c h e d s o - c a l l e d s o l u t i o n s c o m e a n a g o with e a c h c h a n g e in the e c o n o m i c c y c l e . T h e s e e x p e r i e n c e s h a v e led m e to the s a m e c o n v i c t i o n as Robert Frost, w h o o n c e said: " M o s t of the c h a n g e w e think w e s e e in life Is d u e to truths b e i n g in a n d out of f a v o r " ("The B l a c k C o t t a g e , " in The Poetry of Robert Frost, e d E d w a r d C o n n e r y L a t h a m [ N e w York: Holt, Rinehart a n d W i n s t o n , 1 9 6 9 ] , p. 58).

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W h a t I w o u l d like to s h a r e w i t h y o u t o d a y a r e m y o b s e r v a t i o n s a b o u t the c o n s t a n t a n d f u n d a m e n t a l p r i n c i p l e s w h i c h , if f o l l o w e d , will b r i n g financial s e c u r i t y a n d p e a c e of m i n d u n d e r any economic circumstances.

First, I w o u l d like to b u i l d a f o u n d a t i o n a n d e s t a b l i s h a p e r s p e c t i v e within w h i c h t h e s e e c o nomic principles must be a p p l i e d .

Seek First the Kingdom

O n e d a y a g r a n d s o n of m i n e s a i d to m e : "I h a v e o b s e r v e d y o u a n d other s u c c e s s f u l m e n , a n d I have m a d e u p m y m i n d that I w a n t to b e a s u c c e s s in m y life. I w a n t to interview as m a n y s u c cessful p e o p l e as I c a n to d e t e r m i n e w h a t m a d e t h e m s u c c e s s f u l . So l o o k i n g b a c k o v e r y o u r e x p e rience, g r a n d p a , w h a t d o y o u b e l i e v e is the m o s t important e l e m e n t of s u c c e s s ? " I told h i m that the L o r d g a v e the g r e a t e s t s u c c e s s f o r m u l a that I k n o w of: " S e e k y e first the k i n g d o m of G o d , a n d his r i g h t e o u s n e s s ; a n d all t h e s e t h i n g s shall b e a d d e d u n t o y o u " ( M a t t h e w 6:33).

Some argue that some men prosper financially w h o d o n o f s e e k the k i n g d o m first. This is true. But the L o r d is not p r o m i s i n g u s just material w e a l t h if w e s e e k first t h e k i n g d o m . I know this f r o m m y o w n e x p e r i e n c e . In the w o r d s of Henrik I b s e n : " M o n e y m a y b e the h u s k of m a n y t h i n g s , but not the k e r n e l . It b r i n g s y o u f o o d , but not a p p e t i t e ; m e d i c i n e , but not h e a l t h ; a c q u a i n t a n c e s , but not f r i e n d s ; s e r v a n t s , but not f a i t h f u l n e s s ; d a y s of joy, but not p e a c e or h a p p i n e s s . " (In The Forbes Scrapbook of Thoughts on the Business of Life [ N e w York: F o r b e s , Inc., 1 9 6 8 ] , p. 8 8 . )

Material Blessings

Material b l e s s i n g s are a part of t h e g o s p e l if t h e y are a c h i e v e d in the p r o p e r w a y a n d for t h e right

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p u r p o s e . I a m r e m i n d e d of a n e x p e r i e n c e of P r e s i d e n t H u g f i B. B r o w n . A s a y o u n g soldier in W o r l d W a r I, fie w a s visiting a n e l d e r l y f r i e n d in tfie f i o s p i t a l . Tfiis f r i e n d w a s a millionaire several t i m e s o v e r w f i o , at tfie a g e of e i g f i t y , w a s lying at d e a t f i ' s d o o r . Neitfier fiis d i v o r c e d w i f e nor any of fiis five c f i i l d r e n c a r e d e n o u g f i to c o m e to tfie f i o s p i t a l to s e e f i l m . A s President B r o w n t f i o u g f i t of tfie t i l i n g s fiis f r i e n d " f i a d lost w f i i c f i m o n e y c o u l d not b u y a n d n o t e d fiis t r a g i c situation a n d tfie d e p t f i of fiis m i s e r y , " fie a s k e d fiis f r i e n d fiow fie w o u l d c f i a n g e tfie c o u r s e of fiis life if fie f i a d it to live o v e r a g a i n . Tfie o l d g e n t l e m a n , w f i o d i e d a f e w d a y s later, s a i d : " A s I think b a c k o v e r life the m o s t i m p o r t a n t a n d v a l u a b l e a s s e t w h i c h I m i g h t h a v e h a d but w h i c h I lost in the p r o c e s s of a c c u m u l a t i n g m y millions, was the simple faith my mother had in God and in the immortaiity of the soul. ". . . You a s k e d m e w h a t is t h e m o s t v a l u a b l e t h i n g in life. I c a n n o t a n s w e r y o u in better w o r d s t h a n t h o s e u s e d b y the p o e t . " H e a s k e d P r e s i d e n t B r o w n to g e t a little b o o k out of his b r i e f c a s e f r o m w h i c h he r e a d a p o e m entitled "I'm an Alien": " I ' m a n .alien, to the faith m y m o t h e r t a u g h t m e .

I'm a s t r a n g e r to the G o d that h e a r d m y mother w h e n she cried.

I'm a n alien to the c o m f o r t that, ' N o w I lay m e , ' brought me.

To the e v e r l a s t i n g a r m s that h e l d m y father w h e n he d i e d .

W h e n the g r e a t w o r l d c a m e a n d c a l l e d m e , I d e s e r t e d all to follow.

N e v e r n o t i n g in m y b l i n d n e s s I h a d s l i p p e d m y h a n d f r o m His. N e v e r d r e a m i n g in m y d a z e d n e s s that the b u b b l e f a m e is hollow.

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That the w e a l t h of g o l d is tinsel, as I s i n c e h a v e learned it is I have s p e n t a lifetime s e e k i n g t h i n g s I s p u r n e d when I found them, I have f o u g h t a n d b e e n r e w a r d e d in m a n y a winning cause, But I'd give it all, f a m e a n d f o r t u n e a n d the p l e a sures that s u r r o u n d t h e m , If I only h a d the faith that m a d e m y m o t h e r w h a t she w a s . " President B r o w n s t a t e d : "That w a s the d y i n g t e s t i m o n y of a m a n w h o w a s b o r n in the C h u r c h but h a d d r i f t e d far f r o m it.

That w a s the b r o k e n h e a r t e d c r y of a lonely m a n w h o c o u l d h a v e a n y t h i n g m o n e y c o u l d b u y . but w h o h a d lost the m o s t i m p o r t a n t t h i n g s of life in o r d e r to a c c u m u l a t e this w o r l d s goods." {Continuing the Quest [Salt L a k e City: D e s e r e t Book Co., 1 9 6 1 ] , p p . 3 2 - 3 5 ; italics a d d e d . ) In the B o o k of M o r m o n , the p r o p h e t J a c o b g i v e s us s o m e i m p o r t a n t c o u n s e l o n this matter: " B u t b e f o r e y e s e e k for riches, s e e k y e for the k i n g d o m of G o d . " A n d after y e h a v e o b t a i n e d a h o p e in Christ y e shall o b t a i n r i c h e s , if ye seek them; a n d y e will seek t h e m for the intent to d o g o o d - t o c l o t h e the n a k e d , a n d to f e e d the h u n g r y , a n d to liberate the c a p t i v e , a n d a d m i n i s t e r relief to the sick a n d the a f f l i c t e d . " ( J a c o b 2 : 1 8 - 1 9 ; italics a d d e d . ) The f o u n d a t i o n a n d p e r s p e c t i v e t h e n are these: W e m u s t first s e e k the k i n g d o m , w o r k a n d plan a n d s p e n d wisely, p l a n for the future, a n d use w h a t w e a l t h w e are b l e s s e d w i t h to h e l p b u i l d u p that k i n g d o m . W h e n g u i d e d by this eternal p e r s p e c t i v e a n d b y b u i l d i n g o n this f i r m f o u n d a tion, w e c a n p u r s u e with c o n f i d e n c e our daily tasks a n d our life's w o r k , w h i c h m u s t b e c a r e f u l l y planned and diligently pursued.

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It is within this f r a m e w o r k that i w o u l d like to e x p l a i n five p r i n c i p l e s of e c o n o m i c c o n s t a n c y :

Pay an honest tithing.

I often w o n d e r if we realize that p a y i n g our tithing d o e s not r e p r e s e n t g i v i n g gifts to the L o r d a n d the C h u r c h . Paying tithing is d i s c h a r g i n g a d e b t to the L o r d . The L o r d is the souroe of all our b l e s s i n g s , i n c l u d i n g life itself.

The p a y m e n t of tithing is a c o m m a n d m e n t , a c o m m a n d m e n t with a p r o m i s e .

If w e o b e y this c o m m a n d m e n t , w e are p r o m i s e d that w e will " p r o s p e r in the l a n d . " This p r o s p e r i t y c o n s i s t s of m o r e t h a n material g o o d s - i t m a y inc l u d e e n j o y i n g g o o d h e a l t h a n d v i g o r of m i n d . It i n c l u d e s family solidarity a n d spiritual i n c r e a s e . I h o p e t h o s e of y o u not presently p a y i n g your full tithe will s e e k the faith a n d s t r e n g t h to d o so. As y o u d i s c h a r g e this o b l i g a t i o n to y o u r Maker, y o u will find great, g r e a t h a p p i n e s s . T h e like of w h i c h is k n o w n only b y t h o s e w h o are faithful to this commandment.

Live on less than you earn.

i h a v e d i s c o v e r e d that there is no w a y that y o u c a n ever e a r n more than y o u c a n s p e n d . I a m c o n v i n c e d that it is not the a m o u n t of m o n e y an individual earns that brings p e a c e of m i n d as m u c h as it is h a v i n g control of his m o n e y . M o n e y c a n b e an o b e d i e n t s e r v a n t but a h a r s h t a s k m a s t e r . T h o s e w h o s t r u c t u r e their s t a n d a r d of living to allow a little s u r p l u s , c o n t r o l their c i r c u m s t a n c e s . T h o s e w h o s p e n d a little m o r e t h a n t h e y e a r n are c o n -

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trolled by their c i r c u m s t a n c e s . T h e y a r e in b o n d a g e . President G r a n t o n c e s a i d : "If t h e r e is a n y o n e t h i n g that will b r i n g p e a c e a n d c o n t e n t m e n t into the h u m a n heart, a n d into the family, it is to live within our m e a n s . A n d if there is a n y o n e t h i n g that is g r i n d i n g a n d d i s c o u r a g i n g a n d d i s h e a r t e n i n g , it is to h a v e d e b t s a n d o b l i g a t i o n s that o n e c a n n o t m e e t . " {Gospel Standards, c o m p . G. H o m e r D u r h a m [Salt L a k e City: I m p r o v e m e n t Era, 1 9 4 1 ] , p. 111.)

The key to s p e n d i n g less t h a n w e e a r n is s i m p l e —it is c a l l e d d i s c i p l i n e . W h e t h e r early in life or late, w e m u s t all e v e n t u a l l y learn to d i s c i p l i n e ourselves, our a p p e t i t e s , a n d our economic d e s i r e s . H o w b l e s s e d is he w h o learns to s p e n d less than he e a r n s a n d p u t s s o m e t h i n g a w a y for a rainy d a y .

Learn to distinguish between needs and wants.

Consumer appetites are m a n m a d e . O u r c o m p e t i t i v e free enterprise system produces unlimited g o o d s a n d services to stimulate our d e s i r e to w a n t more c o n v e n i e n c e a n d luxuries. I d o not c r i t i c i z e the s y s t e m or the availability of t h e s e g o o d s or s e r v i c e s . I a m only c o n c e r n e d a b o u t our p e o p l e u s i n g s o u n d j u d g m e n t in their p u r c h a s e s .

We must learn that s a c r i f i c e is a vital part of our eternal d i s c i p l i n e .

In this a n d m a n y other c o u n t r i e s , m a n y parents a n d c h i l d r e n b o r n s i n c e W o r l d W a r II h a v e k n o w n only p r o s p e r o u s c o n d i t i o n s . M a n y h a v e b e e n c o n d i t i o n e d to instant g r a t i f i c a t i o n . T h e r e have b e e n a m p l e j o b o p p o r t u n i t i e s for all w h o are c a p a b l e of w o r k i n g . Y e s t e r d a y ' s luxuries for m o s t are c o n s i d e r e d t o d a y ' s n e c e s s i t i e s .

This is t y p i f i e d b y y o u n g c o u p l e s w h o , as they begin their m a r r i a g e s , e x p e c t to furnish their h o m e s a n d p r o v i d e t h e m s e l v e s with luxuries w h i c h their p a r e n t s h a v e m a n a g e d to a c q u i r e only after m a n y y e a r s of s t r u g g l e a n d s a c r i f i c e . By w a n t i n g too m u c h t o o s o o n , y o u n g c o u p l e s m a y s u c c u m b to e a s y c r e d i t p l a n s , t h e r e b y p l u n g i n g t h e m s e l v e s Into d e b t . This w o u l d k e e p t h e m f r o m h a v i n g t h e f i n a n c i a l m e a n s n e c e s s a r y to d o as the C h u r c h s u g g e s t s in the matter of f o o d s t o r a g e a n d other s e c u r i t y p r o g r a m s .

Overindulgence a n d poor money management place a heavy strain on marriage r e l a t i o n s h i p s . M o s t marital p r o b l e m s , it s e e m s , o r i g i n a t e f r o m e c o n o m i c roots —either insufficient i n c o m e to s u s t a i n the family or m i s m a n a g e m e n t of the i n c o m e as e a r n e d .

O n e y o u n g father c a m e to his b i s h o p for f i n a n c i a l c o u n s e l i n g a n d t o l d a n all-too-frequent story: " B i s h o p , I h a v e b e e n well t r a i n e d as an e n g i n e e r , a n d I e a r n a g o o d salary. It s e e m s that all t h r o u g h s c h o o l I w a s t a u g h t h o w to m a k e m o n e y , but n o o n e t a u g h t m e h o w to m a n a g e money."

W h i l e w e b e l i e v e it is d e s i r a b l e for e v e r y stud e n t to t a k e c l a s s e s in c o n s u m e r e d u c a t i o n , the p r i m a r y t r a i n i n g rests with the p a r e n t s . Parents c a n n o t leave this vital t r a i n i n g to c h a n c e or transfer the r e s p o n s i b i l i t y entirely to our p u b l i c s c h o o l s a n d universities.

Financial Debt

A n i m p o r t a n t part of this t r a i n i n g s h o u l d b e to e x p l a i n d e b t . For m o s t of us t h e r e a r e t w o k i n d s of f i n a n c i a l d e b t - c o n s u m e r d e b t a n d i n v e s t m e n t or b u s i n e s s d e b t . C o n s u m e r d e b t refers to b u y i n g o n c r e d i t t h o s e t h i n g s w e u s e or c o n s u m e in daily living. E x a m p l e s w o u l d i n c l u d e installment b u y i n g of c l o t h e s , a p p l i a n c e s , furniture, e t c . C o n s u m e r

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debt IS s e c u r e d by mortgaging our future e a r n i n g s . Tfiis c a n b e very d a n g e r o u s . If w e are laid off work, d i s a b l e d , or e n c o u n t e r s e r i o u s e m e r g e n c i e s , w e f i a v e difficulties m e e t i n g our o b ligations. Installment b u y i n g is tfie m o s t e x p e n s i v e way to p u r c f i a s e . To tfie c o s t of tfie g o o d s w e b u y must b e a d d e d f i e a v y interest a n d h a n d l i n g charges.

I realize that y o u n g families f i n d if n e c e s s a r y at times to p u r c h a s e o n c r e d i t . But w e c a u t i o n y o u not to b u y m o r e t h a n is truly n e c e s s a r y a n d to p a y off y o u r d e b t s as q u i c k l y as p o s s i b l e .

W h e n m o n e y is tight, a v o i d the e x t r a b u r d e n of a d d i t i o n a l interest c h a r g e s . i n v e s t m e n t d e b t s h o u l d b e fully s e c u r e d so as not to e n c u m b e r a f a m i l y ' s s e c u r i t y . Don't invest in s p e c u l a t i v e v e n t u r e s . The spirit of s p e c u l a t i o n can b e c o m e intoxicating. Many fortunes have b e e n w i p e d out b y the u n c o n t r o l l e d a p p e t i t e to a c c u m u l a t e m o r e a n d m o r e . Let us learn f r o m the s o r r o w s of the p a s t a n d a v o i d e n s l a v i n g our t i m e , e n e r g y , a n d g e n e r a l health to a g l u t t o n o u s a p p e t i t e to a c q u i r e i n c r e a s e d material g o o d s .

President K i m b a l l has g i v e n this t h o u g h t provoking counsel: " T h e L o r d has b l e s s e d us as a p e o p l e w i t h a p r o s p e r i t y u n e q u a l e d in t i m e s p a s t . The r e s o u r c e s that have b e e n p l a c e d in our p o w e r are g o o d , a n d n e c e s s a r y to o u r w o r k h e r e on the e a r t h . But I a m afraid that m a n y of us h a v e b e e n s u r f e i t e d with flocks a n d h e r d s a n d a c r e s a n d b a r n s a n d wealth a n d h a v e b e g u n to w o r s h i p t h e m as false g o d s , a n d they h a v e p o w e r o v e r u s . Do w e h a v e m o r e of t h e s e g o o d t h i n g s t h a n our faith c a n s t a n d ? M a n y p e o p l e s p e n d m o s t of their time w o r k i n g in the s e r v i c e of a s e l f - i m a g e that i n c l u d e s sufficient m o n e y , s t o c k s , b o n d s , investment portfolios, property, credit cards, f u r n i s h i n g s , a u t o m o b i l e s , a n d the like to guaran-

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tee c a r n a l s e c u r i t y t h r o u g h o u t , it is h o p e d , a long a n d h a p p y life. F o r g o t t e n is the f a c t that our ass i g n m e n t is to u s e t h e s e m a n y r e s o u r c e s in our families a n d q u o r u m s to b u i l d u p the k i n g d o m of G o d " {Ensign. J u n e 1 9 7 6 , p. 4.)

By w a y of t e s t i m o n y , m a y I a d d this to Presid e n t K i m b a l l ' s s t a t e m e n t : I k n o w of no situation w h e r e h a p p i n e s s a n d p e a c e of m i n d h a v e inc r e a s e d w i t h t h e a m a s s i n g of p r o p e r t y b e y o n d the r e a s o n a b l e w a n t s a n d n e e d s of t h e family

Develop and live within a budget.

A f r i e n d of m i n e has a d a u g h ter w h o w e n t o v e r s e a s with a BYU study-abroad program for a s e m e s t e r She w a s c o n stantly w r i t i n g h o m e for m o r e m o n e y . His c o n c e r n w a s s u c h that he called her longd i s t a n c e a n d q u e s t i o n e d her a b o u t the n e e d for the a d d i t i o n a l f u n d s . Af one point in the c o n v e r s a t i o n the d a u g h t e r e x p l a i n e d , " B u t d a d , I c a n tell y o u w h e r e e v e r y p e n n y y o u h a v e sent m e h a s b e e n s p e n t " He r e p l i e d , " Y o u d o n ' t s e e m to get the point.

I'm interested in a budget-a plan for s p e n d i n g - n o t in a d i a r y of w h e r e the m o n e y has gone."

P e r h a p s p a r e n t s s h o u l d b e m o r e like the father of the c o l l e g e b o y w h o w i r e d h o m e . " N o m o n , no f u n , your s o n . " His father w i r e d b a c k . " H o w sad, too b a d , your d a d " It has b e e n m y o b s e r v a t i o n in interviewing m a n y p e o p l e t h r o u g h the y e a r s that far too m a n y p e o p l e d o not h a v e a w o r k a b l e b u d g e t a n d have not d i s c i p l i n e d t h e m s e l v e s to a b i d e by its p r o v i s i o n s . M a n y p e o p l e think a b u d g e t r o b s t h e m of their f r e e d o m . O n the c o n t r a r y , s u c c e s s f u l p e o p l e

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h a v e l e a r n e d that a b u d g e t m a k e s real e c o n o m i c freedom possible.

Budgeting and financial m a n a g e m e n t need not b e overly c o m p l i c a t e d or t i m e - c o n s u m i n g . The story is told of a n i m m i g r a n t f a t h e r w h o k e p t his a c c o u n t s p a y a b l e in a s h o e b o x , his a c c o u n t s r e c e i v a b l e o n a s p i n d l e , a n d his c a s h in t h e c a s h register.

"I d o n ' t s e e h o w y o u c a n run y o u r b u s i n e s s this w a y , " s a i d his s o n . " H o w d o y o u k n o w w h a t your profit is?" " S o n , " r e p l i e d the b u s i n e s s m a n , " w h e n I g o t off the boat, I h a d only the p a n t s I w a s w e a r i n g .

T o d a y your sister is a n art t e a c h e r , y o u r b r o t h e r is a d o c t o r , a n d y o u ' r e a n a c c o u n t a n t . I h a v e a car, a h o m e , a n d a g o o d b u s i n e s s . E v e r y t h i n g is p a i d for. So y o u a d d it all u p , s u b t r a c t t h e p a n t s , a n d there's m y profit."

Elements of a Good Budget

Wise financial c o u n s e l o r s t e a c h that t h e r e a r e four different e l e m e n t s to a n y g o o d b u d g e t . Provision s h o u l d by m a d e first tor b a s i c o p e r a t i n g n e e d s s u c h as f o o d , c l o t h i n g , etc.; second, for h o m e equity; third, for e m e r g e n c y n e e d s s u c h as s a v i n g s , health i n s u r a n c e , a n d life i n s u r a n c e ; a n d , fourth, tor w i s e i n v e s t m e n t a n d a s t o r a g e p r o g r a m for the future.

M a y I c o m m e n t o n t w o of t h e s e e l e m e n t s .

N o t h i n g s e e m s s o c e r t a i n as the u n e x p e c t e d in our lives. With rising m e d i c a l c o s t s , h e a l t h insura n c e is the only w a y m o s t f a m i l i e s c a n m e e t serious a c c i d e n t , illness, or m a t e r n i t y costs, particularly t h o s e for p r e m a t u r e b i r t h s . Life insura n c e p r o v i d e s i n c o m e c o n t i n u a t i o n w h e n the p r o v i d e r p r e m a t u r e l y d i e s . Every f a m i l y s h o u l d m a k e provision for p r o p e r health a n d life i n s u r a n c e .

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After t h e s e b a s i c s are met, w e s h o u l d by f r u g a l m a n a g e m e n t r e g u l a r l y s a v e to c r e a t e f u n d s for i n v e s t m e n t . It h a s b e e n m y o b s e r v a t i o n that few people have b e e n s u c c e s s f u l with inv e s t m e n t s w h o h a v e not first d e v e l o p e d the habit of s a v i n g r e g u l a r l y . This r e q u i r e s d i s c i p l i n e a n d d i s c r i m i n a t i n g j u d g m e n t . T h e r e a r e m a n y w a y s to invest. M y only a d v i c e is to c h o o s e wisely your i n v e s t m e n t c o u n s e l o r s . Be s u r e they merit your confidence by maintaining a successful Investment record.

Be honest in financial affairs.

all

your

T h e ideal of integrity will never g o out of style. It a p p l i e s to all we do. As leaders and m e m b e r s of the C h u r c h , w e s h o u l d b e the e p i t o m e of integrity.

Brothers and sisters, t h r o u g h t h e s e five p r i n c i p l e s , I h a v e tried to s k e t c h what m i g h t b e c h a r a c t e r i z e d as the true p a t t e r n of financial and resource management.

I h o p e that e a c h of us m a y b e n e f i t f r o m their a p p l i c a t i o n . I b e a r m y w i t n e s s that t h e y are true a n d that this C h u r c h a n d the w o r k w e are e n g a g e d in a r e t r u e . In the n a m e of J e s u s Christ, amen.

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â„¢CHURCHoF JESUS CHRIST Of LATTER-DAY SAINTS PBCT1025

1/80

1,150M