Understanding LDS Self-Reliance Principles
The Church of Jesus Christ of Latter-day Saints teaches that self-reliance is “the ability, commitment, and effort to provide the spiritual and temporal necessities of life for self and family.” This encompasses both practical skills and spiritual preparedness.
President Marion G. Romney taught, “The obligation to sustain ourselves, so far as we are able, is divinely imposed.” This principle forms the foundation for LDS approaches to personal finance and temporal preparation.
Core LDS financial principles:
- Stewardship: Managing resources as consecrated to God’s purposes
- Provident living: Living within means while preparing for future needs
- Self-reliance: Reducing dependence on others through personal capability
- Consecration: Using temporal blessings to serve others and build the kingdom
- Faith in the Lord’s timing: Trusting divine guidance in financial decisions
Modern application of ancient principles: The biblical principle of storing grain for seven lean years translates into modern emergency funds and food storage. Joseph’s wisdom in Egypt provides a template for contemporary financial planning that LDS families can apply today.
According to Church welfare statistics, families who follow self-reliance principles report 65% less financial stress and 43% higher savings rates compared to general population averages.
The LDS Self-Reliance Program Framework
The Church’s official Self-Reliance program provides structured approaches to financial education that integrate gospel principles with practical money management skills.
Program components:
- My Foundation: Basic principles of self-reliance and goal setting
- Personal Finances: Budgeting, debt elimination, and savings strategies
- Starting and Growing My Business: Entrepreneurship with gospel principles
- Find a Better Job: Career development and employment skills
- Education for Better Work: Skills training and continuing education
Group participation benefits: Self-reliance groups provide accountability, support, and shared learning experiences. Participants report higher success rates when working through materials with other committed members.
Facilitator guidelines: Groups are led by trained facilitators who guide discussions rather than teach. This peer-learning approach follows the principle that the Holy Ghost is the true teacher while members learn from each other’s experiences.
Time commitment: The personal finances portion requires 12 weeks with 2-hour weekly meetings plus individual study and application time. Most participants invest 4-6 hours weekly in total program activities.
Budgeting with Gospel Principles
LDS budgeting approaches begin with tithing and offerings as the first financial priority, demonstrating faith that the Lord will provide for temporal needs when spiritual obligations are met first.
The LDS Priority Budget Structure:
- Tithing and offerings (10%+): First fruits to the Lord
- Basic necessities (50-60%): Housing, food, transportation, utilities
- Emergency fund building (10-15%): Temporal preparation for trials
- Debt elimination (10-20%): Freedom from financial bondage
- Future preparation (10-15%): Education, retirement, family goals
Spiritual budgeting practices:
- Begin budget planning with prayer for guidance and wisdom
- Include family members in age-appropriate financial discussions and planning
- Set aside funds for temple attendance, mission preparation, and service opportunities
- Plan for generous fast offerings and humanitarian contributions
- Budget for continuing education and skill development
Family budget councils: Regular family meetings to discuss finances teach children stewardship principles while involving everyone in achieving family financial goals. These councils follow patterns established for family councils in other areas.
Budgeting tools recommended by Church leaders: Simple tracking methods work better than complex systems. President N. Eldon Tanner taught to “pay an honest tithing, live on less than you earn, and save something regularly.”
Building Emergency Preparedness
LDS emergency preparedness extends beyond financial savings to include food storage, essential supplies, and spiritual preparation for challenging times.
The three-month supply approach: Build gradually toward three months of expenses in savings while simultaneously building three months of food and essential supplies. This balanced approach addresses both financial and physical preparedness needs.
Emergency fund priorities:
- $1,000 starter fund: Immediate protection against small emergencies
- One month expenses: Buffer for minor income disruptions
- Three months expenses: Protection during job loss or major health issues
- Six months expenses: Extended protection for major life changes
Food storage integration: Coordinate food storage purchases with grocery budgets to avoid financial strain. Rotate stored food through regular meal planning to prevent waste and maintain freshness.
Skills development for preparedness: Financial preparedness includes developing skills that reduce dependence on others: basic home maintenance, food preservation, gardening, and income-generating capabilities.
For comprehensive self-reliance resources and financial planning guidance, educational platforms like finance-focused learning resources provide valuable supplementary materials for gospel-centered financial planning.
Debt Elimination with Faith
LDS approaches to debt elimination emphasize both practical strategies and spiritual principles. Debt is viewed as a form of bondage that limits spiritual and temporal freedom.
The Covenant Path to Debt Freedom:
- Acknowledge: Honestly assess total debt situation through prayer and careful calculation
- Repent: Change spending behaviors that created debt problems
- Plan: Create specific debt elimination strategy with spiritual guidance
- Act: Implement plan with faith and persistence despite challenges
- Endure: Maintain discipline through difficult periods with divine help
Debt snowball with spiritual elements: List debts from smallest to largest, but include prayer about the order of payoff. Sometimes spiritual impressions suggest paying certain debts first for reasons beyond mathematical optimization.
Family involvement in debt elimination: Include appropriate family members in debt elimination efforts. Children can contribute through increased chores, reduced entertainment expenses, or family service projects that generate income.
Avoiding future debt: Distinguish between “good debt” that builds assets (education, home purchase) and consumer debt that finances lifestyle beyond current means. Counsel with the Lord about major financial decisions.
Tithing during debt elimination: Continue paying tithing faithfully while eliminating debt. The Lord’s promise in Malachi 3:10-11 includes protection from financial devourers that often accompany debt.
Investment and Wealth Building
LDS investment approaches balance wise stewardship with recognition that material wealth is a tool for serving others and building God’s kingdom.
Investment principles from Church leaders:
- Invest in yourself through education and skill development first
- Choose conservative, long-term investment strategies over speculation
- Remember that the earth and everything in it belongs to the Lord
- Use increasing wealth to bless others and support Church purposes
- Maintain perspective that spiritual riches matter more than temporal wealth
Retirement planning considerations: Plan for self-reliance during retirement years while recognizing that continued service and contribution should be lifetime goals. Avoid both under-preparation and excessive focus on accumulating wealth.
Business ownership opportunities: Many LDS families build wealth through business ownership, which provides flexibility for Church service and family priorities. Operate businesses with integrity and fair treatment of employees.
Education as investment: Prioritize education funding for family members, viewing it as one of the highest-return investments available. The Church emphasizes education as both temporal and spiritual preparation.
Temple and mission preparation: Include costs for temple attendance, mission service, and Church-related travel in investment planning. These spiritual investments often provide temporal blessings as well.
Teaching Financial Principles to Children
LDS families have unique opportunities to integrate financial education with gospel teaching, preparing children for both temporal and spiritual stewardship.
Age-appropriate financial education:
- Ages 3-7: Basic concepts of earning, spending, saving, and giving through simple chores and allowances
- Ages 8-12: More complex budgeting, goal setting, and understanding of family financial principles
- Ages 13-18: Checking accounts, part-time employment, mission and education savings, investment basics
Family home evening lessons: Incorporate financial principles into family home evening discussions. Use scriptural examples of stewardship, preparedness, and consecration to teach money management concepts.
Practical learning opportunities: Include children in age-appropriate family financial activities: grocery shopping with budgets, utility conservation efforts, family business activities, and service projects.
Mission and education preparation: Help youth set and achieve savings goals for missions and education. These long-term financial goals teach planning, sacrifice, and delayed gratification.
Generational financial planning: Consider how financial decisions affect future generations. Building assets that can bless children and grandchildren aligns with LDS emphasis on eternal families.
Overcoming Financial Challenges with Faith
Financial difficulties provide opportunities for spiritual growth and increased reliance on divine help. LDS approaches to financial challenges emphasize both practical action and spiritual solutions.
When facing financial crisis:
- Seek spiritual guidance through prayer, fasting, and temple attendance
- Counsel with trusted Church leaders who can provide perspective and resources
- Utilize Church welfare resources when appropriate while maintaining dignity
- Look for opportunities to serve others despite personal challenges
- Maintain faith that trials can strengthen character and increase compassion
Church welfare assistance principles: Welfare assistance is designed to help people help themselves rather than create dependence. Recipients are expected to work for assistance received when possible and to give service to others.
Fast offering and humanitarian giving: Continue generous fast offerings and humanitarian contributions even during financial difficulties. The principle of consecration operates regardless of income level.
Finding additional income sources: Explore legitimate opportunities to increase income through additional skills, part-time employment, or family business activities. Avoid get-rich-quick schemes that conflict with principles of honest labor.
Building support networks: Strengthen relationships with extended family, ward members, and community resources that can provide mutual support during challenging times.
Career Development and Education
LDS emphasis on education and skill development provides strong foundations for career advancement and increased income potential.
Continuing education priorities: Balance formal education with practical skill development. Technical certifications, professional development, and entrepreneurial skills often provide faster returns than traditional degree programs.
Career counseling and guidance: Seek spiritual guidance about career decisions through personal revelation and counsel from trusted mentors. Consider how career choices affect family relationships and Church service opportunities.
Networking within LDS communities: Professional relationships with other Church members often provide career opportunities and business partnerships based on shared values and mutual trust.
Balancing career and family: LDS teachings emphasize family as the fundamental unit of society. Career decisions should strengthen rather than compromise family relationships and spiritual priorities.
Entrepreneurship opportunities: Many LDS families find business ownership provides flexibility for Church service, family priorities, and financial independence. Operate businesses with integrity and fair employment practices.
Long-term Financial and Spiritual Goals
LDS financial planning extends beyond retirement to include multi-generational stewardship and preparation for eternal responsibilities.
Temple and family history work: Budget for increased temple attendance, family history research, and related travel. These spiritual activities often require financial resources but provide eternal blessings.
Mission and service preparation: Plan financially for senior missions, Church service opportunities, and humanitarian projects. Many couples serve multiple missions after retirement.
Legacy planning: Consider how accumulated assets can bless future generations and support Church purposes. Estate planning should reflect gospel principles about stewardship and consecration.
Charitable giving strategies: Develop systematic approaches to charitable giving beyond tithing and fast offerings. Many families establish annual giving budgets for humanitarian causes and community service.
Your LDS Self-Reliance Action Plan
Integrating gospel principles with sound financial management creates approaches that address both temporal and spiritual needs. The Lord expects faithful stewardship of material blessings while maintaining proper priorities about eternal versus temporal concerns.
Start by completing the Church’s Self-Reliance program if you haven’t already participated. The structured approach provides proven frameworks for achieving financial goals while strengthening spiritual foundations.
Focus on one area at a time: establish tithing as your first financial priority, build a basic emergency fund, or eliminate your smallest debt. Small, consistent actions aligned with gospel principles create significant long-term improvements.
Remember that financial self-reliance serves larger purposes of strengthening families, serving others, and building God’s kingdom. Your temporal preparation enables greater spiritual service and creates examples that bless others.
The goal isn’t wealth accumulation for its own sake, but rather faithful stewardship that provides security for your family while creating capacity to serve others and support Church purposes throughout your life.
What aspect of LDS self-reliance resonates most with your current situation—emergency preparedness, debt elimination, or building wealth for service? Share your priority in the comments and I’ll provide specific strategies that integrate gospel principles with practical financial action steps!