7 Questions to Ask to Become More Financially Self-Reliant (2024)

Paying tithing and generous offerings provides a spiritual foundation to remind us that all we have comes from Heavenly Father. We also have the promise that the Lord will “open the windows of heaven and pour out great blessings upon those who pay tithes and offerings faithfully (seeIsaiah 58:6–12;Malachi 3:10–11).

“If we pay our tithing and offerings first, our commitment to this important gospel principle will be strengthened and the likelihood of financial mismanagement [and financial hardship] will be reduced.”2

If we are spending more than we earn each month, we should find ways to cut out nonessential purchases, which can distract us from what really matters. As the Lord declared in Matthew 6:19–21:

“Lay not up for yourselvestreasuresupon earth, where moth and rust doth corrupt, and where thievesbreak through and steal:

“But lay up for yourselvestreasuresin heaven, where neither moth nor rust doth corrupt, and where thieves do not break through norsteal:

“For where your treasure is, there will your heart be also.”

Doctrine and Covenants 48:4 also shares the importance of saving money each month:

“It must needs be necessary that ye save all the money that ye can, and that ye obtain all that ye can in righteousness, that in time ye may be enabled to purchase land for an inheritance, even the city.”

While we may not need to individually purchase lands like the early Saints did, having money in savings can help us be prepared for whatever work the Lord needs us to do.

Doctrine and Covenants 88:119 teaches us to “organize yourselves; prepare every needful thing.” Planning and keeping a record of our finances can help us account for what we earn, what we spend (such as on food, housing, utilities, transportation, clothing, and wholesome recreational activities), and what we save. Planning ahead and “organizing” ourselves will help us ensure we have enough for “every needful thing” now and in the future.

Unexpected emergencies can arise at any time with home repairs, medical emergencies, natural disasters, unemployment, and other economic hardships. Preparing now can help us avoid fear and financial difficulties later (see Doctrine and Covenants 38:30).

It is wise to have at least a one-month emergency fund reserved. Consider ways you can reduce expenses each month to build up this reserve. Or determine if there is a large purchase you are considering but that can be postponed or avoided to reserve this funding. Small sacrifices now can bring peace and protection later (see Alma 37:6).

Some debts in life may be necessary or strategic, such as purchasing a modest home or first car, gaining an education, building credit history, and providing for vital needs.3 Unnecessary debt, however, should be avoided because it puts us in bondage (see Doctrine and Covenants 19:35) and can risk our self-reliance in times of hardship.

As President J.Reuben Clark Jr. (1871–1961) taught: “Interest never sleeps nor sickens nor dies; it never goes to the hospital; it works on Sundays and holidays; it never takes a vacation.… Once in debt, interest is your companion every minute of the day and night; you cannot shun it or slip away from it; you cannot dismiss it; it yields neither to entreaties, demands, or orders; and whenever you get in its way or cross its course or fail to meet its demands, it crushes you.”4

Consider whether your job fully utilizes your skills and talents or if you can qualify for another job with better pay and benefits for you and your family. Continue to gain more skills through lifelong learning and certifications (see Doctrine and Covenants 88:119). Doing so can help you increase your wages as you progress in your job or career. Talk with your local leaders about resources the Church offers to help you in your employment search, such as employment.ChurchofJesusChrist.org.

Also remember what President RussellM. Nelson taught: “There is no shortcut to excellence and competence. Education is the difference betweenwishingyou could help other people andbeing ableto help them.”5

What ways will preparing for and being adequately employed for your skills bless you and others?

We will all experience times in our lives when we need to ask for help from others, whether to seek information from experts or to receive temporary financial help. Knowing when and how to ask for help is part of being self-reliant. Through Church programs and materials and through community experts, the Lord has given us many resources (including those below) to help us become financially self-reliant. With hard work, sacrifice, study, trust in the Lord, and counseling together, we can make great strides in becoming self-reliant. And if needed, when we have done our best to use our available resources, remember that ward leaders can also provide financial assistance; after “all efforts have been made, there should not be shame”6 in seeking out that assistance.