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.,"