Family Finances

by Kristina Law | Feb 8, 2015 | Financial, Main | 0 Comments

Dollar Bills

Here at Bel Aire Senior Living, family is what it's all about.

It's never too late to start preparing financially for when a time of need hits. Life is expensive. Everything about it. From a baby's birth to placing your loved one in an assisted living facility, it all requires money. Dealing with finances isn't especially fun, but it's so important in the day-to-day.

“We encourage you wherever you may live in the world to prepare for adversity by looking to the condition of your finances. We urge you to be modest in your expenditures; discipline yourselves in your purchases to avoid debt. … If you have paid your debts and have a financial reserve, even though it be small, you and your family will feel more secure and enjoy greater peace in your hearts” (All Is Safely Gathered In: Family Finances).

How promising is that! "If you have paid your debts and have a financial reserve, even though it be small, you and your family will feel more secure and enjoy greater peace in your hearts." I, for one, am highly concerned with feeling secure in all aspects of life, and would love nothing more than to enjoy greater peace in my heart; if starting now to insure that I can have that later is what it takes, then bring it on.

I was lucky to grow up in the household I did with the parents I have. They have always been such good examples to me and my younger siblings. We were never overly well off financially, but I had a good childhood because they knew how to handle their money- making the household less stressed and more confident.

In an article I found on lds.org it advises us to go one step further than just being a good example. "Teach family members the principles of financial management. Involve them in creating a budget and setting family financial goals. Teach the principles of hard work, frugality, and saving. Stress the importance of obtaining as much education as possible."

May we seize the day and start to prepare ourselves for the future! There's a lot waiting for us, let's make sure we're as ready as we can be. Make your family life more full and more stable.

With further questions, we recommend contacting Utah Senior Planning.

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