Welcome
to the financial preparedness section! Eight months from now you will
have in place a concrete financial plan to be out of debt, have
savings and have basic legal documents in place to safeguard your
assets for your family. Plus, you will better understand your income
and spending habits, create and live within a budget, and allow and
prepare for financial goals and dreams.
The
LDS Church 2010 booklet, called The Family Finances
Workshop: Participant's Guide, takes you through the
process of financial preparedness step by step. It's available to
order for $3.50 from church distribution (click
here), or it's available in free digital format to view online or
print (click
here). This month, read the Introduction and complete Steps 1
and 2. That means you'll calculate the amount of your income that's
“spendable,” and calculate what you've spent over the last few
months. The booklet suggests you look at the last 12 months (which
is a great way to see what you spend for, say, Christmas as compared
to a normal month). Not everyone will have access to a record of
their spending habits for that period of time. If not, calculate
what you spent in the last 3 months. If not that, begin keeping
track right now of what you spend day to day. There are detailed
instructions for this in Step 4 of the booklet.
SUMMARY:
*Read Introduction and Complete Steps 1 and 2 from The Family Finance Workshop
*Read Introduction and Complete Steps 1 and 2 from The Family Finance Workshop
*Review
the pamphlets “All Is Safely Gathered In: Family Finances” and
“One for the Money”
*Save
$11 per person for your year’s food storage supply
*For 3-month storage: buy 1 week of everyday foods
*For 3-month storage: buy 1 week of everyday foods
