Financial Stewardship

The Church of Jesus Christ of Latter-day Saints teaches that individuals and families must be wise financial stewards. Self-sufficiency and modesty in our wants and possessions are not only "good advice," but are actually sound gospel principles that Mormons are taught.

After Adam and Eve left the Garden of Eden, God commanded Adam, "In the sweat of thy face shalt thou eat bread . . ." (Genesis 3:19). That commandment remains in effect today. Latter-day Saints are taught to obtain all the education they can and to find employment that provides their families with (at a minimum) the basic necessities of life. This economic self-reliance provides individuals with self-respect, satisfaction, and happiness. In addition to economic self-reliance, individuals must also strive to be socially, emotionally, spiritually, and physically self-reliant. Where individuals cannot meet these needs, they can turn to family (first) and the Church (second).

In order to be truly self-reliant, the Church teaches that families should (1) avoid debt, (2) maintain a financial reserve, and (3) attain a year's supply of food. To assist families in accumulating food storage, the Church owns canneries around the world where members of the Church can purchase and package food in bulk. In doing so, families will be prepared for the "rainy days" that inevitably come. In addition, by avoiding debt and having a healthy savings account, families will feel peace and security during times of distress and uncertainty in the world.

Our responsibilities do not end with ourselves and our families. Not only must we be self-reliant, but members of the Church must also care for the poor and needy. One of the ways Latter-day Saints care for the poor is by donating to the Church a "fast offering." Once a month, Church members are asked to abstain from eating or drinking for two meals (or 24 hours). The money they saved from fasting (and any additional generosity) is then donated to the Church for assisting in helping the poor and needy.

The Church of Jesus Christ of Latter-day Saints takes seriously the charge to care for those who are in need. Many additional resources such as employment centers, welfare plans, educational loans, food, and basic necessities are provided to those in need. All of the Church's welfare is done with the goal of helping others "help themselves" by becoming self-reliant.

The Church maintains a website, www.providentliving.org with resources, lessons, statistics, and services in temporal and spiritual welfare. For additional information on the Church's teachings on welfare, click here.