Constancy Amid Change (1982)

CONSTANCY AMID C H A N G E T h e C h u r c h o f Jesus C h r i s t of L a t t e r - d a y

Saints

CONSTANCY AMID C H A N G E A n address given by President N . E l d o n T a n n e r , First Counselor i n the First Presidency, at the 149th S e m i a n n u a l G e n e r a l Conference Welfare Session, 6 O c t . 1979

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uring W o r l d W a r 11, a member of the Q u o r u m of the T w e l v e , Elder A l b e r t E . B o w e n , wrote a book compiled from a series of radio addresses, w h i c h he entitled C o n stancy amid Change ( S a l t L a k e C i t y : Deseret N e w s Press, 1944).

T h e messages of these talks were very timely. W e were a world in conflict, and people the world over needed a message of certainty, assurance, and stability.

T h i s present era seems very similar i n many ways to those turbulent war years. T o d a y we face many perplexing issues. I n addition to significiant international political problems, we are experiencing one of the most difficult economic periods we have faced i n many decades—the problem of inflation and personal financial management.

I would like to borrow the title of Elder Bowen's book and share with you some of my o w n experiences and convictions drawn from the sixty years of my w o r k i n g life. 1 have lived during each phase of the economic cycle. A s a young man getting started i n life, 1 experienced personal depression. 1 have experienced a national and international depression, as well as periods of recession and inflation. 1 have watched so-called solutions come and go w i t h each change i n the economic cycle. T h e s e experiences have led me to the same c o n v i c t i o n as Robert Frost, w h o once said, "Most of the change we t h i n k we see i n life is due to truths being i n and out of f a v o r . " ( " T h e B l a c k C o t t a g e , " i n The Poetry of Robert Frost, ed. Edward C o n n e r y L a t h a m , N e w Y o r k : Holt,' Rinehart and W i n s t o n , 1969, p. 5 8 . ) W h a t 1 would like to share w i t h you are my observations about the constant and fundamental principles w h i c h , if followed, w i l l bring financial security and peace of m i n d under any economic circumstances.

First, 1 would like to build a foundation and establish a perspective w i t h i n w h i c h these economic principles must be applied.

O n e day a grandson of m i n e said to me: " 1 have observed you and other successful m e n , a n d 1 have made up my m i n d that 1 want to be a success i n my life. 1 w a n t to interview as many successful people as 1 c a n to determine what made them successful. So looking back over your experience, grandpa, w h a t do you believe is the most important element of success?"

1 1 told h i m that the L o r d gave the greatest success formula that 1 k n o w of; " S e e k ye first the kingdom of G o d , and his righteousness; and a l l these things shall be added unto y o u . " ( M a t t . 6:33.)

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Some argue that some m e n prosper financially w h o do not seek the kingdom first. T h i s is true. B u t the L o r d is not promising us just material w e a l t h if we seek first the kingdom. 1 k n o w this from my o w n experience. I n the words of H e n r i k Ibsen: " M o n e y may be the husk of many things, but not the k e r n e l . It brings you food, but not appetite; medicine, but not health; acquaintances, but not friends; servants, but not faithfulness; days of joy, but not peace or happiness." ( I n The Forbes Scrapbook of Thoughts on the Business of Life, N e w Y o r k : Forbes, I n c . , 1968, p . 8 8 . )

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M a t e r i a l blessings are a part of the gospel if they are achieved i n the proper way and for the right purpose. I am reminded of a n experience of President H u g h B . B r o w n . A s a young soldier i n W o r l d W a r I , he was v i s i t i n g a n elderly friend i n the hospital.

T h i s friend was a m i l l i o n a i r e several times over w h o , at the age of eighty, was lying at death's door. N e i t h e r his divorced wife nor any of his five c h i l d r e n cared enough to come to the hospital to see h i m . A s President B r o w n thought of the things his friend " h a d lost w h i c h money could not buy and noted his tragic situation and the depth of his m i s e r y , " he asked his friend how he would change the course of his life if he had it to live over again. T h e old gentleman, w h o died a few days later, said:

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" A s I t h i n k back over life the most important and valuable asset w h i c h I might have h a d but w h i c h 1 lost i n the process of accumulating my m i l l i o n s , was the simple faith my mother had in G o d and in the itntnortafity of the soul. . . .

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" Y o u asked me w h a t is the most valuable thing i n life. I cannot answer you i n better words t h a n those used by the poet."

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H e asked President B r o w n to get a little book out of his briefcase from w h i c h he read a poem entitled " I ' m a n A l i e n " : I ' m a n alien, to the faith my mother taught me.

I ' m a stranger to the G o d that heard my mother w h e n she cried.

I ' m a n a l i e n to the comfort that, ' N o w I lay m e , ' brought me.

T o the everlasting arms that held my father w h e n he died.

W h e n the great world came a n d called me, 1 deserted all to follow.

N e v e r noting i n my blindness I had slipped my hand from H i s .

N e v e r dreaming i n my dazedness that the bubble fame is hollow.

T h a t the w e a l t h of gold is tinsel, as 1 since have learned it is.

I have spent a lifetime seeking things 1 spurned w h e n 1 found them, 1 have fought and been rewarded i n many a w i n n i n g cause, B u t I ' d give it a l l , fame a n d fortune and the pleasures that surround them, I f 1 only had the f a i t h that made my mother w h a t she was.

President B r o w n stated: " T h a t was the dying testimony of a m a n w h o was b o m i n the C h u r c h but h a d drifted far from it. T h a t was the brokenhearted cry of a lonely m a n w h o could have anything money could buy, but w h o had lost the most important things of life i n order to accumulate this world's goods." (Continuing the Quest, Salt L a k e C i t y : Deseret Book C o . , 1961, pp. 3235; italics added.)

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I n the Book of M o r m o n , the prophet Jacob gives us some important counsel on this matter: " B u t before ye seek for riches, seek ye for the kingdom of G o d . " A n d after ye have obtained a hope i n C h r i s t ye shall obtain riches, if ye seek them; and ye w i l l seek t h e m for the intent to do good—to clothe the n a k e d , and to feed the hungry, a n d to liberate the captive, and administer relief to the sick and the afflicted." (Jacob 2:18-19; italics added.)

T h e foundation and perspective, t h e n , are these: W e must first seek the kingdom, work and p l a n and spend wisely, plan for the future, and use w h a t w e a l t h we are blessed w i t h to help build up that kingdom. W h e n guided by this eternal perspective and by building on this firm foundation, we c a n pursue w i t h confidence our daily tasks and our life's w o r k , w h i c h must be carefully planned and diligently pursued.

I t is w i t h i n this framework that 1 would like to e x p l a i n five principles of economic constancy.

Constant 1 : Pay an honest tithing.

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often wonder if we realize that paying our t i t h i n g does not represent giving gifts to the L o r d and the C h u r c h . Paying tithing is discharging a debt to the L o r d . T h e L o r d is the source of all our blessings, including life itself.

T h e payment of tithing is a commandment, a commandment w i t h a promise. I f we obey this commandment, we are promised that we w i l l "prosper i n the l a n d . " T h i s prosperity consists of more than material goods—it may include enjoying good h e a l t h and vigor of m i n d . It includes family solidarity and spiritual increase. I hope those of you not ptesently paying your full tithe will seek the faith and strength to do so. A s you discharge this obligation to your M a k e r , you w i l l find great, great h a p p i n e s s — the like of w h i c h is k n o w n only by those w h o are faithful to this commandment.

Constant 2: Live on less than you earn.

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have discovered that there is no way that you c a n ever earn more than you c a n spend. 1 a m c o n v i n c e d that it is not the amount of money a n individual earns that brings peace of mind as much as it is h a v i n g control of his money. M o n e y c a n be an obedient servant, but a harsh taskmaster. T h o s e w h o structure their standard of l i v i n g to allow a little surplus, control their circumstances. T h o s e w h o spend a little more t h a n they earn are controlled by their circumstances. T h e y are i n bondage.

President G r a n t once said: " I f there is any one thing that w i l l bring peace and contentment into the h u m a n heart, a n d into the family, it is to live w i t h i n our means. A n d if there is any one thing that is grinding and discouraging and disheartening, it is to have debts and obligations that one cannot m e e t . " (Gospel Standards, comp. G . H o m e r EXtrham, Salt L a k e C i t y : Improvement Era, 1941, p. 111.)

T h e key to spending less t h a n we earn is s i m p l e — i t is called discipline. W h e t h e r early i n life or late, we must a l l eventually learn to discipline ourselves, our appetites, a n d our economic

desires. H o w blessed is he w h o learns to spend less t h a n he earns and puts something away for a rainy day.

Constant 3 : Learn to distinguish between needs and wants.

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onsumer appetites are manmade. O u r competitive free enterprise system produces u n l i m i t e d goods and services to stimulate our desire to w a n t more convenience and luxuries. 1 do not criticize the system or the availability of these goods or services. I am only concerned about our people using sound judgment i n their purchases. W e must learn that sacrifice is a v i t a l part of our eternal discipline.

I n this and m a n y other countries, many parents and children b o m since W o r l d W a r I I have k n o w n only prosperous conditions. For the most part, there have been ample job opportunities for all w h o are capable of w o r k i n g . M a n y have been conditioned to instant gratification. Yesterday's luxuries for most are considered today's necessities.

T h i s is typified by young couples w h o , as they begin their marriages, expect to furnish their homes and provide themselves w i t h luxuries w h i c h their parents have managed to acquire only after many years of struggle a n d sacrifice. By wanting too m u c h too soon, young couples may succumb to easy credit plans, thereby plunging themselves into debt. T h i s would keep them from having the financial means necessary to do as the C h u r c h suggests i n the matter of food storage and other security programs.

Overindulgence a n d poor money management place a heavy strain on marriage relationships. Most marital problems, it seems, originate from economic r o o t s — e i t h e r insufficient income to sustain the family or mismanagement of the income.

O n e young father came to his bishop for financial counseling and told a n all-too-frequent story: " B i s h o p , 1 have been w e l l trained as a n engineer, and 1 earn a good salary. It seems that all through school 1 was taught how to make money, but no one taught me h o w to manage m o n e y . " W h i l e we believe it is desirable for every student to take classes i n consumer education, the primary training rests w i t h the parents. Parents cannot leave this v i t a l training to chance or transfer the responsibility entirely to our public schools and universities.

A n important part of this training should be to e x p l a i n debt. For most of us there are two kinds of financial debt—consumer debt and investment or business debt. C o n s u m e r debt refers to buying o n credit those things we use or consume i n daily l i v i n g . E x a m ples would include installment buying of clothes, appliances, or furniture. C o n s u m e r debt is secured by mortgaging our future earnings. T h i s c a n be very dangerous. I f we are laid off work, disabled, or encounter serious emergencies, we have difficulties meeting our obligations. Installment buying is the most expensive way to purchase. T o the cost of the goods we buy must be added heavy interest and h a n d l i n g charges.

I realize that young families find it necessary at times to purchase o n credit. B u t we c a u t i o n you not to buy more t h a n is truly

necessary and to pay off your debts as quickly as possible. W h e n money is tight, avoid the extra burden of additional interest charges.

Investment debt should be fully secured so as not to encumber a family's security. D o n ' t invest i n speculative ventures. T h e spirit of speculation can become i n t o x i c a t i n g . M a n y fortunes have been wiped out by the uncontrolled appetite to accumulate more and more. L e t us learn from the sorrows of the past and avoid enslaving our time, energy, and general h e a l t h to a gluttonous appetite to acquire increased material goods.

President K i m b a l l has given this thought-provoking counsel: " T h e Lord has blessed us as a people w i t h a prosperity unequaled in times past. T h e resources that have been placed i n our power are good, and necessary to our work here on the earth. B u t I am afraid that many of us have been surfeited w i t h flocks and herds and acres and bams and wealth and have begun to worship them as false gods, and they have power over us. D o we have more of these good things t h a n our faith can stand? M a n y people spend most of their time w o r k i n g i n the service of a self-image that includes sufficient money, stocks, bonds, investment portfolios, property, credit cards, fumishings, automobiles, and the like to guarantee carnal security throughout, it is hoped, a long and happy life. Forgotten is the fact that our assignment is to use these many resources i n our families and quorums to build up the kingdom of G o d . " (Ensign, June 1976, p. 4 . ) B y way of testimony, may 1 add this to President K i m b a l l ' s statement: 1 k n o w of no situation where happiness and peace of mind have increased w i t h the amassing of property beyond the teasonable wants and needs of the family.

Constant 4: Develop and live within a budget.

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friend of mine has a daughter w h o went overseas w i t h a B Y U study-abroad program for a semester. S h e was constantly writing home for more money. H i s c o n c e r n was such that he called her long-distance and questioned her about the need for the additional funds. A t one point i n the conversation the daughter explained, " B u t dad, 1 c a n tell you where every penny you have sent me has been spent."

H e replied, " Y o u don't seem to get the point. I ' m interested i n a budget—a plan for spending—not i n a diary of where the money has gone."

Perhaps parents should be more like the father of the college boy who wired home, " N o m o n , no f u n , your s o n . " H i s father wired back, " H o w sad, too bad, your d a d . " I t has been my observation i n interviewing many people through the years that far too many people do not have a workable budget and have not disciplined themselves to abide by its provisions. Many people t h i n k a budget robs them of their freedom.

O n the contrary, successful people have learned that a budget makes real economic freedom possible.

Budgeting and financial management need not be overly c o m plicated or time-consuming. T h e story is told of a n immigrant

father w h o kept his accounts payable i n a shoe box, his accounts receivable o n a spindle, and his cash i n the cash register. " I don't see how you c a n r u n your business this w a y , " said his son. " H o w do you k n o w w h a t your profit is?" " S o n , " replied the businessman, " w h e n 1 got off the boat, I had only the pants I was wearing. T o d a y your sister is a n art teacher, your brother is a doctor, and you're a n accountant. 1 have a car, a home, and a good business. E v e r y t h i n g is paid for. So you add it a l l up, subtract the pants, a n d there's my profit."

W i s e financial counselors teach that there are four different elements to any good budget. P r o v i s i o n should be made first for basic operating needs such as food and clothing; second, for home equity; t h i r d , for emergency needs such as savings, health insurance, a n d life insurance; a n d , fourth, for wise investment and a storage program for the future.

M a y 1 comment o n two of these elements. N o t h i n g seems so certain as the unexpected i n our lives. W i t h rising medical costs, health insurance is the only way most families c a n meet serious accident, illness, or maternity costs, particularly those for premature births. L i f e insurance provides income continuation w h e n the provider prematurely dies. E v e r y family should make provision for proper h e a l t h a n d life insurance.

A f t e r these basics are met, we should by frugal management regularly save to create funds for investment. It has been my observation that few people have been successful w i t h i n vestments w h o have not first developed the habit of saving regularly. T h i s requires discipline a n d discriminating judgment.

T h e r e are many ways to invest. M y only advice is to choose wisely your investment counselors. Be sure they merit your confidence by m a i n t a i n i n g a successful investment record.

Constant 5: Be honest in all your financial affairs.

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he ideal of integrity w i l l never go out of style. It applies to all we do. A s leaders and members of the C h u r c h , we should be the epitome of integrity.

Brothers and sisters, through these five principles, I have tried to sketch w h a t might be characterized as the true pattern of financial a n d resource management.

I hope that each of us may benefit from their application. I bear my witness that they are true and that this C h u r c h and the work we are engaged i n are true. I n the name of Jesus C h r i s t , amen.

Published by T h e C h u r c h of Jesus C h r i s t of Latter-day Saints Salt L a k e C i t y , U t a h

Copyright e 1979, 1982 by Corporation of the President of T h e C h u r c h of Jesus C h r i s t of Latter-day Saints A l l Rights Reserved Printed i n the U n i t e d States of A m e r i c a

T"tCHURCHoF JESUS CHRIST Of L A T T E R - D A Y SAINTS

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