Time and financial management

An extract from a byu devotional by Elder L. Tom Perry... I was 23 days old when this was given and yet, as with all of these byu devotionals, it's counsel is timeless! 

http://speeches.byu.edu/?act=viewitem&id=556

"Could I counsel you in just two areas? First, in time management. I know of no successful managers of time who do not have a specific plan of how they should use the period of life the Lord has given to them. It is essential that you periodically list the major categories involved in your good use of time—your classes, your studies, your church assignments, recreation, meditation, etc. Then carefully calendar a portion of each day or week to satisfy your needs. Attempt to keep your life in balance.

Then, after the actual performance is over, evaluate and see how successful you were in utilizing your time. Actual performance will form the base for the next planning period. You ought to learn how to use your time while you are in school. It could be one of the major contributions you can make to your life. The second is managing the financial resources our Father in Heaven has blessed you with. Schooling is becoming more expensive each year. I know many of you are laboring under great pressures in order to complete your education. There is always the temptation to borrow to relieve that burden. Sometimes that may be necessary.

I learned a great lesson early in my business career. I was called into my boss’s office one day. He wanted to impress upon me, his financial manager, a good lesson in the use of money. He asked me to give him a definition of interest. Of course, I pulled one out of a textbook I had used in business training. He said, “Oh, no, no, no. This is the one I want you to remember. ‘Them’s that understands it, receives it; them’s that don’t, pays it.’ “

This was one of the great lessons of my life. I have tried to stay out of debt as much as humanly possible. It is a lot more fun to earn interest than to pay it. Develop a positive attitude toward life. Do not let things get you down or become overburdened with meaningless responsibility. Learn how to manage your time and your resources to keep yourself out of trouble. Good planning is the key.,"

It No Fun Being Poor

Extract from 1982 BYU Devotional 'Its no fun being poor' by Marvin J. Ashton

http://speeches.byu.edu/?act=viewitem&id=33

"IX. Thou shalt not stay poor.

It’s not fun being poor, but no one has to be. With friends, virtue, character, truth, integrity, repentance, and other God-given gifts and rights available, pearls of great price are ours for the seeking. Through prayer and action God helps us avoid being poor. He that has eternal life in its fulness is rich. It’s no fun being poor. It is much more fun to be rich. We can be rich if life’s ledger is filled with daily entries that show bottom-line totals including sound moral conduct, uprightness, and incorruptibility.

X. Thou shalt not allow thyself to be managed by money.

Remember the financially well-to-do are poor only when they allow their money to manage them instead of their managing their money.

There is one other very important ingredient for consideration when we talk about “It’s No Fun Being Poor.” Following the type of thinking I have promoted today, it would not be unusual—in fact, I think it would be quite likely—that, for example, four students who live in a dormitory together could experience this. One could be a little cynical or sarcastic, and, upon opening a cupboard door and looking inside at some of the bare shelves, say, “Don’t forget, we’re rich.” Another might look in the refrigerator and freezer and, upon noting there is more cold than food, could say, “Don’t forget, we’re not poor; it just looks like we are!” Someone else who is convinced beyond reasonable doubt that she is entitled to a new dress or outfit after a long delay, but can’t have them because of a lack of funds could murmur, “I must remember I’m rich.”

A person who allows his money to manage him instead of his managing his money is poor. No matter how much or how little we have to live on each week or month, it needs to be used wisely. We need to work out a budget and live within it. Some claim living within a budget takes the fun out of life and is too restrictive. Those who avoid the inconvenience of budget regulations must suffer the pains of living outside it. Your Church operates within a budget. Brigham Young University functions within a budget. Each department in the school has a budget. The president of the university lives within a budget. Budget guidelines encourage better performance and management. It seems there will always be emergencies and crises in all of our lives that cause financial drain, but even these developments need not make us poor. Having friends, family, neighbors, bishops, stake presidents who care and share makes us rich. Financial disaster can be avoided if we learn with others how to help ourselves. Things generally turn up for those who keep digging. Through work, education, and commitment, personal satisfaction can be realized as we make appropriate use of the accumulation of this world’s goods. No one needs to apologize for his success in financial achievement if the means of attainment have been honorable, and he knows how to wisely use what he has.

Conversely, when money and wealth become our goal and our god, we are poor. I personally applaud those who are honorably successful in achieving an abundance of this world’s goods, but only if it is convincingly evident their money is being wisely used. I could hope and pray that in the future there will be more and more good men and women committed to having more of their money put to use helping some student and less in personal financial assets. No man should be respected just for his riches, but rather by his philanthropy. We do not judge the value of the sun by its height, but for its usefulness.

It is a worthy prayer to ask our Heavenly Father to bless us with this world’s goods, but not with more than we can bear. Too much money can make us poor. Limited budgets can teach us sacrifice, self-reliance, restraint, and personal management. One of life’s great lessons is to teach us that what we do with what we have is more important than what we have. Proper incentive and attitudes prevent us from ever classifying ourselves as poor.

I leave you these thoughts, my love, and my testimony. It’s no fun being poor. Fortunately, none of us has to be. To this truth I leave my solemn witness in the name of Jesus Christ. Amen."

What do you envision?

Extract from Elder Kopiske's byu devotional address sept 2014 - 

In a BYU devotional address given almost thirty years ago, President James E. Faust counseled the sisters to be careful not to do everything at once and to do first what is most important for the family, and then other desires can follow. He said, “To every thing there is a season, and a time to every purpose under the heaven.”¹⁹Then he said:

It seems that the new roles of women have not decreased their responsibility because, while the new roles are challenging, the old roles of wife and mother are in the soul and cry out to be satisfied. . . . Fortunately [in most cases, I would like to add],women do not have to track a career like a man does. A woman may fit more than one career into the various seasons of life. She cannot sing all of the verses of her song at the same time. ²⁰