Provident Living: Year 1

Posted February 2nd, 2011 in Gospel by Helaman

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” President J. Reuben Clark Jr., in Conference Report, Apr. 1938, 103

Let me preface this by saying that it may not necessarily be provident living to some, but it is a huge change in my families spending habits and a change in our mindset of how we want to handle money in the future.

I also need to give a little background on our family. We made the choice some years ago to be be a one income family, though there may have been times since then that both of us have worked, we’ve never relied on daycare or outside systems to take care of any of our kids. We also had gotten ourselves into some bad habits, like using credit cards to supplement our income and by the end, racked up quite a bit of debt. I won’t use exact figures, but it was sufficient to finally make my wife and I sick of the situation and decide to make some changes. We still struggle, but we are making it.

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