Bags with Holes
You Put Wages into Bags with Holes
BYU Women’s Conference
Bryan Sudweeks
April 29, 2009
I. Introduction
Angie Winchester and I decided the best way to teach this material is to have her teach applications, and then I would build the foundation with priorities. I appreciate her wonderful counsel and spirit, and I pray that the Spirit of the Lord will be with you and with me as we continue this discussion.
Note: Please note that this talk and PowerPoint presentation can be found at Tools and Resources, and Other Resources. That way you don’t have to take too many notes on this talk
The Old Testament prophet Haggai counseled his people: "You earn wages, only to put them into a bag with holes." What was he saying? Let’s put some history on this verse.
The events of the book of Haggai took place relatively late in Old Testament history--about 1500 years after Abraham. Haggai preached and prophesied after the Jewish people had returned from their 70 years of captivity in Babylon. This return to the homeland was permitted by decree of Cyrus, the Persian king. Approximately 50,000 Jews returned to Jerusalem at that time.
With thanksgiving to the Lord, zealous Jews began to rebuild their Temple. The altar was reconstructed, the offerings and feasts were re-established and the foundation of the new Temple was completed. However, this revival was short-lived. Enemy threats from neighboring nations as well as fear and frustration among the Jews resulted in great discouragement, and construction of the House of the Lord came to a complete standstill. For fifteen long years no work was done on God's House. And until the prophet Haggai arrived on the scene, the people of God did not care about rebuilding the temple.
Why had the building of the Temple stopped and the people develop such an apathetic attitude towards God's House? Haggai gives the answer in Chapter 1: the problem was priorities! God's people were spending much more time, effort and money on their own houses than on the House of the Lord (1:4). The people were told in no uncertain terms to re-examine their priorities and "Consider your ways!" (See 1:5 and 7).(David R. Reid,
It wasn't wrong for the people of Haggai's day to have houses, the problem was priorities! The Lord, as usual, wanted his work to be done first.
II.The Importance of Priorities
Iwas a professional money manager for 13 years before going back into teaching. At BYU, have taught personal finance and investments for over 9 years. Over this time, I have learned important priorities that I would like to share.
I have also gained a testimony that when we do the things that Heavenly Father wants use to do first, we have his help.
I was a young married student going back to George Washington University to get a Ph.D. I was working in the morning, and going to school in the afternoon and evening. My inspired bishop called my wife and me in to talk. He asked me to teach Seminary at 6:10 a.m. each morning. I thought how tough this calling would be, that I would rarely see my wife and new daughter. But after discussions with my wife, we agreed that if we wanted God’s help, we needed to do what He wanted us to do—teach Seminary. We prayed “Father, we are happy to serve. Please help us do what we need, which was to complete the Ph.D.” We served and He blessed us, so much that I completed a 5-7 year Ph.D. program in less than 3 years. We learned when you put the Lord first, He puts you first.
So this presentation is on the five important priorities we should have. Then, at the end of my talk, I will share my sixth and final priority.
Priority 1. It’s about faith
The first priority is faith. In my experience, financial problems are generally behavioral problems, not money problems.
We know what we should do: live on a budget, spend less than we earn, not go into debt, build a reserve, save for retirement, etc.
But ignorance, carelessness, compulsiveness, and pride (and perhaps even necessity) get in the way.
For most, it is not a question of knowledge, but of motivation
How do we motivate ourselves and others to make better financial choices?
Elder Boyd K. Packer helped us when he said:
True doctrine, understood, changes attitudes and behavior. The study of the doctrines of the gospel will improve behavior quicker than a study of behavior will improve behavior. (Boyd K. Packer, “Little Children,” Ensign, Nov. 1986, 16.)
The key for us, if we want to change behavior, is to understand doctrine. Once we realize the doctrine that God has commanded us to do these things, i.e., live within our means, get out of debt, build a reserve, and teach our children, etc., we then see that financial problems are not problems of money, but problems of faith.
Priority 2. It’s about Principles
The second priority is principles.
Ownership seems to be a key concern in this materially-centered world of ours. But it isn’t as high a priority for God’s children. One of my favorite religious writers is C.S. Lewis. In his book,Screwtape Letters, he had the devil Screwtape say:
The sense of ownership in general is always to be encouraged. The humans are always putting up claims to ownership which sound equally funny in Heaven and in Hell and we must keep them doing so. . . We teach this sense of ownership not only by pride but by confusion. We teach them not to notice the differences . . . that run from ‘my boot’ through ‘my dog,’ . . . to ‘my God’.” (Screwtape Letters, HarperCollins, San Francisco, 2000, pp. 113-114)
It’s not about ownership, it’s about principles. I believe there are four principles that are critical to correct priorities:
Principle 1. Ownership: Everything we have is the Lord’s
The Psalmist wrote:
The earth is the Lord’s, and the fullness thereof; the world, and they that dwell therein. (Psalms 24:1)
We know from the scriptures that the Lord is the creator of the earth (Mosiah 2:21), the supplier of our breath (2 Nephi 9:26), the giver of our knowledge (Moses 7:32) the provider of our lives (Mosiah 2:22), and the giver of all we have and are (Mosiah 2:21).
Nothing we have is our own—it’s all God’s
Principle 2. Stewardship: We are stewards over all that the Lord has, is giving, or will share with us
The Lord through the Prophet Joseph Smith stated:
It is expedient that I, the Lord, should make every man accountable, as a steward over earthly blessings, which I have made and prepared for my creatures. (D&C 104:13)
The Lord through the prophet Brigham Young said:
Thou shalt be diligent in preserving what thou hast, that thou mayest be a wise steward; for it is the free gift of the Lord thy God, and thou art his steward. (D&C 136:27)
Principle 3. Agency: The gift of “choice” is man’s most precious inheritance
President Marion G. Romney said:
Agency means the freedom and power to choose and act. Next to life itself, it is man’s most precious inheritance. (Ensign, May 1976, p. 120.)
President David O. McKay:
“Next to the bestowal of life itself, the right to direct that life is God’s greatest gift to man. … Freedom of choice is more to be treasured than any possession earth can give” (italics added, in Conference Report, Apr. 1950, p. 32).
Principle 4. Accountability: We are accountable for every choice we make
The Lord through the prophet Joseph stated:
For it is required of the Lord, at the hand of every steward, to render an account of his stewardship, both in time and in eternity. (D&C 72:3)
Elder Todd Christofferson recently stated:
We control the disposition of our means and resources, but we account to God for this stewardship over earthly things. (D. Todd Christofferson, “Come to Zion”, Ensign, November 2008, p. )
Four days ago I was in Sunday school and we talked about the Law of Consecration in Section 104. As the teacher read these versus, it literally jumped out at me as a summary of these four principles. As we understand and live these principles, I believe we are preparing to mentally live the Law of Consecration.
From the Doctrine and Covenants it reads:
13 For it is expedient that I, the Lord, should make every man accountable, as a steward over earthly blessings, which I have made and prepared for my creatures. (Accountability and Stewardship)
15 And it is my purpose to provide for my saints, for all things are mine. (Ownership)
17 For the earth is full, and there is enough and to spare; yea, I prepared all things, and have given unto the children of men to be agents unto themselves. (Agency)
On what is really ours, Elder Neal A. Maxwell stated:
The submission of one’s will is really the only uniquely personal thing we have to place on God’s altar. The many other things we “give,” brothers and sisters, are actually the things He has already given or loaned to us. However, when you and I finally submit ourselves, by letting our individual wills be swallowed up in God’s will, then we are really giving something to Him! It is the only possession which is truly ours to give! (Italics added, “Swallowed Up in the Will of the Father,” Ensign, Nov. 1995, 22.)
Priority 3. It’s about Spirituality
The third priority is spirituality.
Some believe there is no relationship between their finances and their spirituality. This is incorrect. Money matters are spiritual matters for five reasons.
Reason 1. All things are spiritual
In D&C 29:34 the Lord says,
“All things unto me are spiritual, and not at any time have I given unto you a law which was temporal.”
The Apostle Paul taught that the love of money is evil, not money itself. (1 Timothy 6:10)
The commandments to live within our means, live on a budget, get out of debt, build a reserve, etc., are therefore not temporal commandments but spiritual commandments.
Reason 2. Money is a medium of exchange
Elder Sterling W. Sill said:
We can build temples with money, we can send out missionaries with money, we can erect educational institutions, operate hospitals, and pay our tithing with money. … In many ways we can build up the kingdom of God with money. (“A Fortune to Share,” Ensign, Jan. 1974, 60.)
The same currency that we go into debt with builds our temples.
Reason 3. Money is a tool
Money is a tool to teach us many things, including the gospel principles of sacrifice, discipline, the harvest, giving, and work.
Money teaches and reinforces both the spiritual and physical creation, as we develop goals and budgets and work toward them
Money teaches the Law of the Harvest, as we invest for retirement and other worthy goals, and watch the investments grow.
Learning to manage money wisely can increase our freedom, teach us eternal gospel principles, and bring peace and happiness into our lives
Reason 4. There is no true freedom without financial freedom
President Ezra Taft Benson said:
The Lord desires his Saints to be free and independent in the critical days ahead. But no man is truly free who is in financial bondage. (“Prepare Ye,” Ensign, Jan. 1974, p. 69).
We must work to get and stay out of debt to be truly free.
Debt is an addiction—another of Satan’s tools to limit our freedom. Another possible reason debt is so bad may be because since everything is the Lord’s, that when we go into debt, we put the Lord in debt as well?
Reason5. The Lord wants and will help us to be wiser financial stewards
The Lord said:
Behold it is my will that you shall pay all your debts. And it is my will that you shall humble yourselves before me, and obtain this blessing by your diligence and humility and the prayer of faith. And inasmuch as you are diligent and humble, and exercise the prayer of faith, behold, I will soften the hearts of those to whom you are in debt, until I shall send means unto you for your deliverance. (italics added, D&C 104: 78-79)
But we must do it in His way: humility, diligence, prayer and work.
Priority 4. It’s about Sharing
The fourth priority is that it’s about sharing.
When most think about sharing, they think about giving. But there are multiple meanings to sharing.
Meaning 1. We are commanded to share
We have been commanded to share what we have with others. In fact, we are told that without sharing our faith is in vain. Amulek reminds us of this when he said:
28 And now behold, my beloved brethren, I say unto you, do not suppose that this is all; for after ye have done all these things, if ye turn away the needy, and the naked, and visit not the sick and afflicted, and impart of your substance, if ye have, to those who stand in need—I say unto you, if ye do not any of these things, behold, your prayer is vain, and availeth you nothing, and ye are as hypocrites who do deny the faith. (Alma 34:28)
Meaning 2. Finances are a shared responsibility for couples
Some think money matters are a priesthood responsibility and not a women’s responsibility
They think if women become knowledgeable about financial matters, their spouses will be upset.
If spouses make the money—don’t they get to decide where it goes? (I believe this is called unrighteous dominion”)
However, since women live longer than men, are more conservative in their investments, and have less saved for retirement (due to working in the home), shouldn’t they be equally (and perhaps even more) responsible! (You would never guess I have six daughters, would you)
The Proclamation on the Family states:
By divine design, fathers are to preside over their families in love and righteousness and are responsible to provide the necessities of life and protection for their families. Mothers are primarily responsible for the nurture of their children. In these sacred responsibilities, fathers and mothers are obligated to help one another as equal partners. (Proclamation on the Family, 1995)
Spouses are to be equal partners in financial matters just as they are equal partners in spiritual matters. Finances are a shared responsibility.
Control of money by one spouse as a source of power, or failure by a partner to be a part of financial management are both incorrect attitudes. Elder Marvin J. Aston counseled:
Management of family finances should be mutual between husband and wife in an attitude of openness and trust. Control of the money by one spouse as a source of power and authority causes inequality in the marriage and is inappropriate. Conversely, if a marriage partner voluntarily removes himself or herself entirely from family financial management, that is an abdication of necessary responsibility. (Marvin J. Ashton, “Guide to Family Finance,” Liahona, Apr. 2000, 42)
Meaning 3. We have a shared responsibility to help and teach
We cannot control how others spend their resources. However, we have a shared responsibility to help:
Teach faith and obedience
Teach correct principles
Teach spiritual matters
Teach by living these principles
In short, we have a shared responsibility to help others come closer to our Savior Jesus Christ
Priority 5. It’s About Education
The final priority is education.
We of all people realize the importance of education. From the Doctrine and covenants it states:
6 It is impossible for a man to be saved in ignorance. (D&C 131:6)
President Gordon B. Hinckley counseled:
Education is the key that unlocks the door of opportunity. God has placed upon this people a mandate to acquire knowledge “even by study and also by faith” (D&C 88:118). (“Some Thoughts on Temples, Retention of Converts, and Missionary Service,” Ensign, Nov. 1997, 49.)
Education is critical, which includes education on financial matters. The Marriott School of Management has put together a website to help you in your teaching and helping of others about personal finance. I have received permission from the leadership of Women’s Conference to talk about this website.
There are four reasons why this website may be helpful as you seek to educate yourself, your family and others.
Reason 1. It offers individual lessons
The website offers individual lessons on 35 different topics, ranging from perspective and principles of personal finance, to budgeting, debt reduction, saving, investing, insurance, retirement planning, and estate planning. All of these topics are taught from a principles framework, which is a great starting point for learning.
Reason 2. It has free Personal Finance Manuals
The website has 8 free downloadable personal finance manuals for audiences, depending on age and educations. These manuals are for students ranging from high school students, returned missionaries, young married/single parents, to the manual that is used in the undergraduate and graduate personal finance courses at the Marriott School of Management. These manuals are the recommended courses of study for their respective audiences. These are not small Manuals, as the Complete College Course is over 650 pages. Individuals and families can use any of the manuals.