Download Wages into Bags with Holes - Woman`s

Bags with Holes
You Put Wages into Bags with Holes
BYU Women’s Conference
Bryan Sudweeks
April 29, 2009
I. Introduction
Angie Winchester and I decided the best way to teach this material is to have her teach
applications, and then I would build the foundation with priorities. I appreciate her
wonderful counsel and spirit, and I pray that the Spirit of the Lord will be with you and
with me as we continue this discussion.
Note: Please note that this talk and PowerPoint presentation can be found at
http://personalfinance.byu.edu, Tools and Resources, and Other Resources. That way
you don’t have to take too many notes on this talk
The Old Testament prophet Haggai counseled his people: "You earn wages, only to put
them into a bag with holes." What was he saying? Let’s put some history on this verse.
The events of the book of Haggai took place relatively late in Old Testament
history--about 1500 years after Abraham. Haggai preached and prophesied after
the Jewish people had returned from their 70 years of captivity in Babylon. This
return to the homeland was permitted by decree of Cyrus, the Persian king.
Approximately 50,000 Jews returned to Jerusalem at that time.
With thanksgiving to the Lord, zealous Jews began to rebuild their Temple. The
altar was reconstructed, the offerings and feasts were re-established and the
foundation of the new Temple was completed. However, this revival was shortlived. Enemy threats from neighboring nations as well as fear and frustration
among the Jews resulted in great discouragement, and construction of the House
of the Lord came to a complete standstill. For fifteen long years no work was
done on God's House. And until the prophet Haggai arrived on the scene, the
people of God did not care about rebuilding the temple.
Why had the building of the Temple stopped and the people develop such an
apathetic attitude towards God's House? Haggai gives the answer in Chapter 1:
the problem was priorities! God's people were spending much more time, effort
and money on their own houses than on the House of the Lord (1:4). The people
were told in no uncertain terms to re-examine their priorities and "Consider your
ways!" (See 1:5 and 7). (David R. Reid, http://www.growingchristians.org/dfgc/holes.htm)
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It wasn't wrong for the people of Haggai's day to have houses, the problem was priorities!
The Lord, as usual, wanted his work to be done first.
II. The Importance of Priorities
I was a professional money manager for 13 years before going back into teaching. At
BYU, have taught personal finance and investments for over 9 years. Over this time, I
have learned important priorities that I would like to share.
I have also gained a testimony that when we do the things that Heavenly Father wants use
to do first, we have his help.
I was a young married student going back to George Washington University to
get a Ph.D. I was working in the morning, and going to school in the afternoon
and evening. My inspired bishop called my wife and me in to talk. He asked me
to teach Seminary at 6:10 a.m. each morning. I thought how tough this calling
would be, that I would rarely see my wife and new daughter. But after
discussions with my wife, we agreed that if we wanted God’s help, we needed to
do what He wanted us to do—teach Seminary. We prayed “Father, we are happy
to serve. Please help us do what we need, which was to complete the Ph.D.” We
served and He blessed us, so much that I completed a 5-7 year Ph.D. program in
less than 3 years. We learned when you put the Lord first, He puts you first.
So this presentation is on the five important priorities we should have. Then, at the end
of my talk, I will share my sixth and final priority.
Priority 1. It’s about faith
The first priority is faith. In my experience, financial problems are generally behavioral
problems, not money problems.
We know what we should do: live on a budget, spend less than we earn, not go
into debt, build a reserve, save for retirement, etc.
But ignorance, carelessness, compulsiveness, and pride (and perhaps even necessity) get
in the way.
For most, it is not a question of knowledge, but of motivation
How do we motivate ourselves and others to make better financial choices?
Elder Boyd K. Packer helped us when he said:
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True doctrine, understood, changes attitudes and behavior. The study of the
doctrines of the gospel will improve behavior quicker than a study of behavior
will improve behavior. (Boyd K. Packer, “Little Children,” Ensign, Nov. 1986,
16.)
The key for us, if we want to change behavior, is to understand doctrine. Once we realize
the doctrine that God has commanded us to do these things, i.e., live within our means,
get out of debt, build a reserve, and teach our children, etc., we then see that financial
problems are not problems of money, but problems of faith.
Priority 2. It’s about Principles
The second priority is principles.
Ownership seems to be a key concern in this materially-centered world of ours. But it
isn’t as high a priority for God’s children. One of my favorite religious writers is C.S.
Lewis. In his book, Screwtape Letters, he had the devil Screwtape say:
The sense of ownership in general is always to be encouraged. The humans are
always putting up claims to ownership which sound equally funny in Heaven and
in Hell and we must keep them doing so. . . We teach this sense of ownership not
only by pride but by confusion. We teach them not to notice the differences . . .
that run from ‘my boot’ through ‘my dog,’ . . . to ‘my God’.” (Screwtape Letters,
HarperCollins, San Francisco, 2000, pp. 113-114)
It’s not about ownership, it’s about principles. I believe there are four principles that are
critical to correct priorities:
Principle 1. Ownership: Everything we have is the Lord’s
The Psalmist wrote:
The earth is the Lord’s, and the fullness thereof; the world, and they that dwell
therein. (Psalms 24:1)
We know from the scriptures that the Lord is the creator of the earth (Mosiah 2:21), the
supplier of our breath (2 Nephi 9:26), the giver of our knowledge (Moses 7:32) the
provider of our lives (Mosiah 2:22), and the giver of all we have and are (Mosiah 2:21).
Nothing we have is our own—it’s all God’s
Principle 2. Stewardship: We are stewards over all that the Lord has, is giving, or will
share with us
The Lord through the Prophet Joseph Smith stated:
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It is expedient that I, the Lord, should make every man accountable, as a steward
over earthly blessings, which I have made and prepared for my creatures. (D&C
104:13)
The Lord through the prophet Brigham Young said:
Thou shalt be diligent in preserving what thou hast, that thou mayest be a wise
steward; for it is the free gift of the Lord thy God, and thou art his steward. (D&C
136:27)
Principle 3. Agency: The gift of “choice” is man’s most precious inheritance
President Marion G. Romney said:
Agency means the freedom and power to choose and act. Next to life itself, it is
man’s most precious inheritance. (Ensign, May 1976, p. 120.)
President David O. McKay:
“Next to the bestowal of life itself, the right to direct that life is God’s greatest gift
to man. … Freedom of choice is more to be treasured than any possession earth
can give” (italics added, in Conference Report, Apr. 1950, p. 32).
Principle 4. Accountability: We are accountable for every choice we make
The Lord through the prophet Joseph stated:
For it is required of the Lord, at the hand of every steward, to render an account
of his stewardship, both in time and in eternity. (D&C 72:3)
Elder Todd Christofferson recently stated:
We control the disposition of our means and resources, but we account to God for
this stewardship over earthly things. (D. Todd Christofferson, “Come to Zion”,
Ensign, November 2008, p. )
Four days ago I was in Sunday school and we talked about the Law of Consecration in
Section 104. As the teacher read these versus, it literally jumped out at me as a summary
of these four principles. As we understand and live these principles, I believe we are
preparing to mentally live the Law of Consecration.
From the Doctrine and Covenants it reads:
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13 For it is expedient that I, the Lord, should make every man accountable, as a
steward over earthly blessings, which I have made and prepared for my creatures.
(Accountability and Stewardship)
15 And it is my purpose to provide for my saints, for all things are mine.
(Ownership)
17 For the earth is full, and there is enough and to spare; yea, I prepared all
things, and have given unto the children of men to be agents unto themselves.
(Agency)
On what is really ours, Elder Neal A. Maxwell stated:
The submission of one’s will is really the only uniquely personal thing we have to
place on God’s altar. The many other things we “give,” brothers and sisters, are
actually the things He has already given or loaned to us. However, when you and
I finally submit ourselves, by letting our individual wills be swallowed up in
God’s will, then we are really giving something to Him! It is the only possession
which is truly ours to give! (Italics added, “Swallowed Up in the Will of the
Father,” Ensign, Nov. 1995, 22.)
Priority 3. It’s about Spirituality
The third priority is spirituality.
Some believe there is no relationship between their finances and their spirituality. This is
incorrect. Money matters are spiritual matters for five reasons.
Reason 1. All things are spiritual
In D&C 29:34 the Lord says,
“All things unto me are spiritual, and not at any time have I given unto
you a law which was temporal.”
The Apostle Paul taught that the love of money is evil, not money itself. (1
Timothy 6:10)
The commandments to live within our means, live on a budget, get out of debt,
build a reserve, etc., are therefore not temporal commandments but spiritual
commandments.
Reason 2. Money is a medium of exchange
Elder Sterling W. Sill said:
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We can build temples with money, we can send out missionaries with
money, we can erect educational institutions, operate hospitals, and pay
our tithing with money. … In many ways we can build up the kingdom of
God with money. (“A Fortune to Share,” Ensign, Jan. 1974, 60.)
The same currency that we go into debt with builds our temples.
Reason 3. Money is a tool
Money is a tool to teach us many things, including the gospel principles of
sacrifice, discipline, the harvest, giving, and work.
Money teaches and reinforces both the spiritual and physical creation, as
we develop goals and budgets and work toward them
Money teaches the Law of the Harvest, as we invest for retirement and
other worthy goals, and watch the investments grow.
Learning to manage money wisely can increase our freedom, teach us eternal
gospel principles, and bring peace and happiness into our lives
Reason 4. There is no true freedom without financial freedom
President Ezra Taft Benson said:
The Lord desires his Saints to be free and independent in the critical days
ahead. But no man is truly free who is in financial bondage. (“Prepare
Ye,” Ensign, Jan. 1974, p. 69).
We must work to get and stay out of debt to be truly free.
Debt is an addiction—another of Satan’s tools to limit our freedom.
Another possible reason debt is so bad may be because since everything is
the Lord’s, that when we go into debt, we put the Lord in debt as well?
Reason 5. The Lord wants and will help us to be wiser financial stewards
The Lord said:
Behold it is my will that you shall pay all your debts. And it is my will that
you shall humble yourselves before me, and obtain this blessing by your
diligence and humility and the prayer of faith. And inasmuch as you are
diligent and humble, and exercise the prayer of faith, behold, I will soften
the hearts of those to whom you are in debt, until I shall send means unto
you for your deliverance. (italics added, D&C 104: 78-79)
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But we must do it in His way: humility, diligence, prayer and work.
Priority 4. It’s about Sharing
The fourth priority is that it’s about sharing.
When most think about sharing, they think about giving. But there are multiple meanings
to sharing.
Meaning 1. We are commanded to share
We have been commanded to share what we have with others. In fact, we are told
that without sharing our faith is in vain. Amulek reminds us of this when he said:
28 And now behold, my beloved brethren, I say unto you, do not suppose
that this is all; for after ye have done all these things, if ye turn away the
needy, and the naked, and visit not the sick and afflicted, and impart of
your substance, if ye have, to those who stand in need—I say unto you, if
ye do not any of these things, behold, your prayer is vain, and availeth you
nothing, and ye are as hypocrites who do deny the faith. (Alma 34:28)
Meaning 2. Finances are a shared responsibility for couples
Some think money matters are a priesthood responsibility and not a women’s
responsibility
They think if women become knowledgeable about financial matters, their
spouses will be upset.
If spouses make the money—don’t they get to decide where it goes? (I
believe this is called unrighteous dominion”)
However, since women live longer than men, are more conservative in their
investments, and have less saved for retirement (due to working in the home),
shouldn’t they be equally (and perhaps even more) responsible! (You would
never guess I have six daughters, would you)
The Proclamation on the Family states:
By divine design, fathers are to preside over their families in love and
righteousness and are responsible to provide the necessities of life and
protection for their families. Mothers are primarily responsible for the
nurture of their children. In these sacred responsibilities, fathers and
mothers are obligated to help one another as equal partners. (Proclamation
on the Family, 1995)
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Spouses are to be equal partners in financial matters just as they are equal
partners in spiritual matters. Finances are a shared responsibility.
Control of money by one spouse as a source of power, or failure by a partner to
be a part of financial management are both incorrect attitudes. Elder Marvin J.
Aston counseled:
Management of family finances should be mutual between husband and
wife in an attitude of openness and trust. Control of the money by one
spouse as a source of power and authority causes inequality in the
marriage and is inappropriate. Conversely, if a marriage partner
voluntarily removes himself or herself entirely from family financial
management, that is an abdication of necessary responsibility. (Marvin J.
Ashton, “Guide to Family Finance,” Liahona, Apr. 2000, 42)
Meaning 3. We have a shared responsibility to help and teach
We cannot control how others spend their resources. However, we have a shared
responsibility to help:
Teach faith and obedience
Teach correct principles
Teach spiritual matters
Teach by living these principles
In short, we have a shared responsibility to help others come closer to our Savior
Jesus Christ
Priority 5. It’s About Education
The final priority is education.
We of all people realize the importance of education. From the Doctrine and covenants it
states:
6 It is impossible for a man to be saved in ignorance. (D&C 131:6)
President Gordon B. Hinckley counseled:
Education is the key that unlocks the door of opportunity. God has placed upon
this people a mandate to acquire knowledge “even by study and also by faith”
(D&C 88:118). (“Some Thoughts on Temples, Retention of Converts, and
Missionary Service,” Ensign, Nov. 1997, 49.)
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Education is critical, which includes education on financial matters. The Marriott School
of Management has put together a website to help you in your teaching and helping of
others about personal finance. I have received permission from the leadership of
Women’s Conference to talk about this website.
There are four reasons why this website may be helpful as you seek to educate yourself,
your family and others.
Reason 1. It offers individual lessons
The website offers individual lessons on 35 different topics, ranging from
perspective and principles of personal finance, to budgeting, debt reduction,
saving, investing, insurance, retirement planning, and estate planning. All of
these topics are taught from a principles framework, which is a great starting point
for learning.
Reason 2. It has free Personal Finance Manuals
The website has 8 free downloadable personal finance manuals for audiences,
depending on age and educations. These manuals are for students ranging from
high school students, returned missionaries, young married/single parents, to the
manual that is used in the undergraduate and graduate personal finance courses at
the Marriott School of Management. These manuals are the recommended
courses of study for their respective audiences. These are not small Manuals, as
the Complete College Course is over 650 pages. Individuals and families can use
any of the manuals.
Reason 3. It has Eight Courses of Study
The website 8 separate courses of study for the audiences listed above. In fact,
you can even take a class and get college credit if you want—it’s a tough course
though.
Reason 4. It has Learning Tools, including Budgeting and Debt Reduction spreadsheets
The website includes nearly 50 different learning tools to help in the learning
process. It includes two different budgeting templates that can be helpful as you
are watching your spending (one of which is currently available in 4 different
languages and we are adding more). It also includes three debt reduction
spreadsheets to help you as you strive to get and stay out of debt.
Reason 5. It has 8 Basic Lessons
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The website includes 8 basic lessons that follow the “All is Safely Gathered In:
Family Finances” pamphlet. These lessons include readings, lesson plans, family
home evening lessons, spreadsheets and handouts to help individuals and families
become more financially self reliant. The framework is read, learn, teach, and
apply. You read the reading, learn from the teacher, teach it to your family in
family home evening, and then apply it during the week.
III. Summary
The Jews in Haggai’s time were more concerned with what they wanted to do than what
the Lord wanted them to do. Their priorities were wrong—they put the Lord second
instead of first in their lives. We must have our priorities in order, or we will be, like the
Jews, putting money into bags with holes.
In this talk I have shared five priorities which will help us keep the Lord first.
Priority 1. Its about faith
Once we realize that God has commanded us to live within our means, get out of
debt, build a reserve, and teach our children, etc., we then see that financial
problems are not problems of money, but problems of faith.
Priority 2. Its about principles
Four principles are critical:
1. Ownership: Everything we have is the Lord’s
2. Stewardship: We are stewards over all that the Lord has, is giving, or will
share with us
3. Agency: The gift of “choice” is man’s most precious inheritance
4. Accountability: We are accountable for every choice we make
We can make all financial decisions correctly if we remember these principles
Priority 3. It’s about Spirituality
There are five reasons why it’s about spirituality
1. All things are spiritual
The commandments to live within our means, live on a budget, get out of
debt, build a reserve, etc., are all not temporal but spiritual commandments
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2. Money is a medium of exchange
The same currency that we go into debt with builds our temples.
3. Money is a tool
Learning to manage money wisely can increase our freedom, teach us
eternal gospel principles, and bring peace and happiness into our lives
4. There is no true freedom without financial freedom
The Lord desires his Saints to be free and independent in the critical days
ahead. But no man is truly free who is in financial bondage. (“Prepare
Ye,” Ensign, Jan. 1974, p. 69).
5. The Lord wants and will help us to be wiser financial stewards
But we must do it in His way: humility, diligence, prayer and work.
Priority 4. It’s about Sharing
There are three different means to sharing.
1. We are commanded to share of our abundance
If we fail to share with others, our faith is vain.
2. Finances are a shared responsibility for couples
Spouses are to be equal partners in financial matters just as they are
equal partners in spiritual matters
3. We have a shared responsibility to help
We cannot control how others spend their resources. However, we have a
shared responsibility to help teach faith and obedience, teach correct
principles, and teach that these are spiritual matters
Priority 5. It’s About Education
Education is the key that unlocks the door of opportunity (“Some
Thoughts on Temples, Retention of Converts, and Missionary Service,”
Ensign, Nov. 1997, 49.)
The Marriott School of Management has put together a website to help you in
your teaching and helping of others about personal finance.
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1. It offers individual lessons on 35 topics
2. It has eight free Personal Finance Manuals
3. It has Eight Courses of Study
4. It has learning tools, including Budgeting and Debt Reduction spreadsheets
5. It has 8 Basic Lessons, that follow the “All is Safely Gather In: Family
Finances” pamphlet.
The Jews did not have their priorities in order—they put the Lord second in their lives. And
because of this, they missed the greater blessings that come from living in such a way that the
Lord could help, guide and bless them.
And so I leave you with my sixth and final priority.
Priority 6. The Lord’s way is easier
The final priority is that the Lord’s way is easier. It is much easier than going with the
alternative—having to do it all on our own. I share my personal testimony that this is true.
Elder Lawrence Corbridge reinforced this when he said:
The Lord’s way is not hard. Life is hard, not the gospel . . . Life is hard for all of us, but
life is also simple. We have only two choices. We can either follow the Lord and be
endowed with His power and have peace, light, strength, knowledge, confidence, love,
and joy, or we can go some other way, any other way, whatever other way, and go it
alone—without His support, without His power, without guidance, in darkness, turmoil,
doubt, grief, and despair. And I ask, which way is easier? (Lawrence Corbridge, “the
Way,” Ensign, Nov 2008)
Again, the question is not about money—it’s about faith
In conclusion, I would like to leave you with two thoughts which I believe are important
for those trying to keep their priorities in order.
The first is the Lord who said:
“For verily I say unto you, that great things await you.” (D&C 45:62)
As we try to do the things that we should and keep our priorities in order,
great things truly do await us.
And the second is from Robert Browning who penned these comforting words:
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“The best is yet to be” (“Rabbi Ben Ezra,” in Charles W. Eliot, ed., The
Harvard Classics, 50 vols. [1909–10], 42:1103).
As we keep our priorities in order, we will truly know that the best is yet to
be, that greater and more wonderful things await us.
I promise you that the Lord knows who you are, and He wants to bless you, if you will
have faith in him, follow his principles, seek spirituality, share with others, educate
yourself, and follow Him. For he said:
13 If thou wilt do good, yea, and hold out faithful to the end, thou shalt be saved
in the kingdom of God, which is the greatest of all the gifts of God; for there is no
gift greater than the gift of salvation. (D&C 6:13)
I leave you my love, my testimony of the gospel, and my belief in these priorities, and I do it
in the name of Jesus Christ, Amen.
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