Personal Finance:
Another Perspective
Another Perspective
On Wealth
Objectives
 A. Understand the Importance of Perspective
 B. Understand the key principles of
understanding and using wealth wisely
 C. Understand other principles about wealth
A. Understand the Importance of Perspective
 What is the importance of perspective?
• The historian Will Durant wrote of the human need
“to seize the value and perspective of passing
things. … We want to know that the little things are
little, and the big things big, before it is too late; we
want to see things now as they will seem forever—
‘in the light of eternity.’ ” (The Story of Philosophy
(New York: Simon and Schuster, 1927), p. 1. )
 How do we see things as they will seem forever--“as
they are, were, and are to come?” (D&C 93:24)
• How do we get this “eternal” perspective?
The Importance of Perspective (continued)
 Elder Neal A. Maxwell wrote of those without this
perspective. He wrote:
• Living without God in the world brings a functional
lack of consistent perspective. If there were no eternal
truths, to what principles would mortals look for
guidance? If not accountable to God, to whom are we
ultimately accountable? Furthermore, if nothing is
ever really wrong, then no one is ever really
responsible. . . Why should we be surprised, then, at
so many disturbing outcomes, including the lack of
community, when every man does that which is “right
in his own eyes?” ( “Take Especial Care of Your
Family,” Ensign, May 1994, 88.)
The Importance of Perspective (continued)
 Benjamin Franklin knew about the importance of
perspective and how it influenced choice. He wrote:
• Those who believe there is one God who made all
things and who governs the world by this
providence will make many choices different from
those who do not. Those who believe that mankind
are all of a family and that the most acceptable
service of God is doing good to man will make
many choices different from those who do not. . .
Those who subscribe to the morals of Jesus will
make many choices different from those who do
not. (The Art of Virtue, 1986, 88–90).
The Importance of Perspective (continued)
 Perspective is important because it impacts choice
• How you look at things makes a difference in how you
make choices
• Do you recognize your difference in perspective as
you look at the world around you?
• Do you recognize the implications of your
differences in outlook, the differences of an eternal
perspective?
The Importance of Perspective (continued)
 Elder Neal A. Maxwell commented:
• We see the world and the people in it differently,
because, as C. S. Lewis observed, it is by the light
and illumination of the gospel that we see
everything else. . . The gospel is like the lens of a
cosmic kaleidoscope that, instead of showing life,
man, and the universe as senseless, unconnected
fragments, shows us pattern, beauty, and purpose! It
is this vision that can give us a special sense of
proportion about the things in life that matter most. .
.This perspective can make so many differences in
so many ways that, unintentionally, we may be
unconscious of the implications of our difference in
outlook. (“Talk of the Month,” New Era, May 1971,
28)
The Importance of Perspective (continued)
 The purpose of this section is to help articulate
this “other perspective” on wealth, this eternal
perspective
• This perspective—this difference in outlook– will have
a major influence in how we make choices.
 The Lord, through the prophet Joseph Smith commanded:
• Hearken ye to these words. Behold, I am Jesus Christ,
the Savior of the world. Treasure these things up in
your hearts, and let the solemnities of eternity rest upon
your minds. (D&C 43:34)
 We must let the “solemnities of eternity” rest on our minds
Questions
 Any questions on the importance of
perspective?
B. Key Principles of Understanding
and Using Wealth Wisely
 Elder Richard G. Scott commented:
• Joseph Smith’s inspired statement, “I teach them
correct principles, and they govern themselves,”
still applies. The Lord uses that pattern with us.
You will find correct principles in the teachings of
the Savior, His prophets, and the scriptures—
especially the Book of Mormon. . . Your consistent
adherence to principle overcomes the alluring yet
false life-styles that surround you. Your faithful
compliance to correct principles will generate
criticism and ridicule from others, yet the results are
so eternally worthwhile that they warrant your
every sacrifice. (Richard G. Scott, “The Power of
Correct Principles,” Ensign, May 1993, 32.)
Principles (continued)
 What are those principles that we must adhere
to whose results are so eternally worthwhile
that they warrant our every sacrifice?
• Let me propose a few “correct principles,”
particularly principles that relate to understanding
and using wealth wisely that may be helpful
Principle 1: Ownership
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)
• 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) and our life
(Mosiah 2:22), and all we have and are (Mosiah
2:21).
• Nothing we have is our own—its all God’s
Ownership (continued)
• As such, there should be no feeling of pride for
the things we have, are, or will become
• These things do not belong to us, but are on loan
• Our blessings should encourage greater
obedience to God’s commandments as we
realize they are gifts from a loving Father in
Heaven (Ecclesiastes 5:19) and we try to thank
Him for the things he has blessed us with
Principle 2: Stewardship
2. Stewardship: We are stewards over all that the
Lord has, is, 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 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)
Stewardship (continued)
• We are stewards, not owners, over the things
we possess
• As wise stewards, it is our responsibility to learn
everything we can about our stewardship
• The purpose of this class (and the website) is to
help you understand and manage that
stewardship better, that we all might be
“approved in all things, and be accounted as
wise stewards.” (D&C 72:22)
Principle 3: Agency
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” (in Conference
Report, Apr. 1950, p. 32; italics added).
Agency (continued)
• Agency is one of the greatest gifts of God.
• Instead of using this gift wrongly, we should do all
in our power to make wise choices
• And then we should thank a loving Father and
Son for this wonderful right to choose—and then
use that agency wisely!
Principle 4: Accountability
4. Accountability: We are accountable for every
choice we make
• The Lord through the prophet Joseph stated:
• Verily I say, men should be anxiously engaged in
a good cause, and do many things of their own
free will, and bring to pass much righteousness.
For the power is in them, wherein they are
agents unto themselves. (D&C 58: 27-28)
• 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)
Accountability (continued)
 While the blessing of agency is an unconditional
gift from God, how we use that gift shows how
much we love Him and His Son
• We will all be held accountable for our use of our
agency
• We should do all in our power to use choice wisely
• An additional purpose of this class is to help and
encourage you in the choices you make
What is Really Ours? (continued)
 On this subject, 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.)
Questions
 Any questions on the key principles for
understanding and using wealth wisely?
C. Understand Other
Principles About Wealth
 Are there other principles that are important in
helping us understand and use wealth wisely?
• Following are a few ideas that may be helpful
• They follow the previous principles of:
• Ownership
• Stewardship
• Agency
• Accountability
Ownership Principles (continued)
 Ownership Principles
 1. Wealth is not a Sign of Righteousness
• While financial blessings may be a result of
righteousness, more often than not the blessings
from righteousness are spiritual.
• The best sign of righteousness is not wealth, but
how well we follow the example of our Savior
• Do we have His image in our countenances?
• Are we trying to follow His example in all
we do?
Ownership Principles (continued)
 2. Since God gives us blessings freely, we
should share them freely
• The prophet Jacob taught:
• Think of your brethren like unto yourselves, and
be familiar with all and free with your substance,
that they may be rich like unto you. (Jacob 2:17)
• God does not ask us to be rich to help Him.
• God gives us wealth so we can show the
world--and ourselves--what we will do with
that wealth
• Would He be pleased on how you earn and
share your blessings?
Stewardship Principles
 Stewardship Principles
 3. We have not earned the things we possess
• In D&C 130:20-21 it tells us:
• There is a law, irrevocably decreed in heaven
before the foundations of this world, upon which
all blessings are predicated— And when we
obtain any blessing from God, it is by obedience
to that law upon which it is predicated.
• Blessings are not earned; rather, they are given
by a loving Heavenly Father.
• Do we thank Him for his blessings?
• Do we show by our actions we love Him?
Stewardship Principles (continued)
 4. Wealth is not a necessary qualification for
service in the Lord's kingdom
• President Gordon B. Hinckley said:
• “If that is the perception, I am sorry, because it is
a false perception. Out of the experience of
nearly a quarter of a century in organizing and
reorganizing scores of stakes, I can say that the
financial worth of a man was the least of all
considerations in selecting a stake president.
Wealth and financial success are not criteria for
Church service.” (“Tithing: An Opportunity to
Prove Our Faithfulness,” Ensign, May 1982,
40.)
Agency Principles
 Agency Principles
 5. Wealth can be a Blessing or Curse
• President N. Eldon Tanner said:
• The Lord gave the greatest success formula that
I know of : Seek ye first the kingdom of God,
and his righteousness; and all these things shall
be added unto you. (“Constancy Amid Change,”
Ensign, Nov. 1979, 80.)
• President Brigham Young stated:
• "The worst fear ... I have about this people is
that they will get rich in this country, forget God
and His people, wax fat, and kick themselves out
of the Church. ... My greatest fear for them is
that they cannot stand wealth." (“This Is The
Place,” Tambuli, July 1977, 25.)
Agency Principles (continued)
 If wealth is bad, should we ever seek riches?
• The Nephite Prophet Jacob counseled:
• But before ye seek for riches, seek ye for the
kingdom of God. And after ye have obtained a
hope in Christ ye shall obtain riches, if ye seek
them; and ye will seek them for the intent to do
good-to clothe the naked, and to feed the hungry,
and to liberate the captive, and administer relief
to the sick and the afflicted. (Jacob 2:18-19)
• Our first goal should be the Kingdom of God
• Only then should we seek riches. And we will
seek them for the right reasons, to do good, to
serve God, to help others
Agency Principles (continued)
 President Gordon B. Hinckley said:
• The Lord will love us, I think, to the degree to
which we lift and bless those in distress. I believe
that with all my heart, mind, and soul. The
accumulation of means is not a bad endeavor when
those means are used to bless the needy of the earth.
(Discourses of President Gordon B. Hinckley,
Volume 2, Intellectual Reserve, 2005, p. 593.)
Agency Principles (continued)
6. Love of money is the root of all evil
Elder Theodore M. Burton commented:
• “Paul did not say that money itself was evil, but that
“the love of money is the root of all evil.”(1 Tim.
6:10.) Love of money, status, possessions, or
position more than righteousness begets a kind of
false pride that must be avoided. That is why the
Lord also told us that “if ye seek the riches which it
is the will of the Father to give unto you, ye shall be
the richest of all people, for ye shall have the riches
of eternity,. . .but beware of pride, lest ye become as
the Nephites of old.”” (D&C 38:39) (“A Disease
Called Pride,” Ensign, Mar. 1971, 26.)
Accountability Principles
 Accountability Principles
 7. Money will not Bring Happiness or Solve
your Problems
• Henrik Ibsen said:
• Money may be the husk of many things, but not
the kernel. It brings you food, but not appetite;
medicine, but not health; acquaintances, but not
friends; servants, but not faithfulness; days of
joy, but not peace or happiness. (in James E.
Faust, “Our Search for Happiness,” Ensign, Oct.
2000, 2.)
• My wife Anne added: “If you can’t be happy
without money, you will never be happy with it.”
Questions
 Any questions on these other principles on
wealth?
Summary
 Perspective is important
• We want, and need to know, that we are seeing
things as they really are
• That big things are really big things--that little
things are really little things
• We need to know that we are seeing correctly
• Perspective is important as it influences choice.
• How we view the things of eternity will
have a major impact on how we live our
lives
• Have a correct perspective—an eternal
perspective—another perspective
- 33 -
Summary (continued)
 This “other perspective” is important for us to
understand. It is based on four key principles for
understanding and using wealth wisely. They are:
• 1. Ownership: Everything we have or are is a gift
from God. Remember that it is not ours
• 2. Stewardship: We are stewards over the things the
Lord has blessed us with. We must learn to be better
stewards—this class will help
• 3. Agency: The ability to choose is a God-given gift.
Use it wisely
• 4. Accountability: We are the final decision makers,
but we will be held accountable for our decisions.
We must learn to choose wisely
Summary (continued)
 There are other principles that can help us understand
and use wealth wisely. They are:
• Ownership Principles
• 1. Wealth is not a sign of righteousness
• 2. Because God shares freely with us, we should
share freely with others
• Stewardship Principles
• 3. We have not earned the things we enjoy
• 4. Wealth is not a necessary qualification for
service in the Lord's Kingdom
Summary (continued)
• Agency Principles
• 5. Wealth can be either a blessing or curse,
depending on our choices
• 6. The love of money (not money) is the root of
evil
• Accountability Principles
• 7. Wealth will not bring happiness nor solve all
your problems
Review of Objectives
 A. Do you understand the Importance of
Perspective?
 B. Do you understand the Key Principles for
using and understanding wealth?
 C. Do you understand other Principles about
Wealth?
Case Study #1
Data
 Brenda came from a family that had little of the
world’s goods, but there was a lot of love in the
home. The parents loved their children and the
children loved their parents. She respects you for the
wonderful example you have set.
Application
 She asks you:
• 1. What is the purpose of wealth in our lives?
• 2. What scriptures support that purpose?
Case Study #1 answers
1. You have lots of good ideas, but you share the
following: The Nephite Prophet Jacob shared with
us one view of the purpose of wealth in our lives.
He counseled us that if we seek wealth, we should
do it for the right reasons:
• “After ye have obtained a hope in Christ ye shall
obtain riches, if ye seek them; and ye will seek
them for the intent to do good-to clothe the
naked, and to feed the hungry, and to liberate the
captive, and administer relief to the sick and the
afflicted.“ (Jacob 2:18-19)
Case Study #1 answers
• 2. Again, there are many different answers from
scripture. You could respond:
• Riches are to help us to fulfill our missions here
on earth, to help us become like Christ, to raise
righteous families, to move the kingdom
forward, and to help and serve others.
Remember D&C 14:7 and 11:7:
• “Seek not for riches but for wisdom; and,
behold, the mysteries of God shall be
unfolded unto you, and then shall you be
made rich. Behold, he that hath eternal life is
rich.”
Case Study #2
Data
 Brenda continues to ask you questions regarding your
perspective and principles for understanding and using
wealth wisely.
Application
 She asks:
• What are the four key principles for using wealth
wisely? Why is each principle important? What
can we do now to incorporate each principle into
our lives now?
Case Study #2 answers
There are a lot of good answers for these questions. You
might respond with: The key principles for
understanding and using wealth wisely are:
• 1. Ownership: Everything we have or are is a gift
from God.
• It is important as the things we have are not
ours, but are on loan from a loving Father in
Heaven
• We can incorporate this principles into our lives
by learning that when we share with others, we
are only giving back to God what was His in the
first place, and what He has loaned to us.
Case Study #2 answers
• 2. Stewardship: We are stewards over the things the
Lord has blessed us with.
• It is important as we must learn to be better
stewards over our blessings as we will be held
accountable for what we do with these blessings.
• We can incorporate this into our lives by
learning as much as we can about the things we
need to do so that we can become the best
stewards we can over the blessings our Heavenly
Father shares with us.
Case Study #2 answers
• 3. Agency: The gift of “choice” is man’s most
precious inheritance
• It is important as we need to use this gift wisely
so we can return and live with God eternally.
• We can incorporate this in our lives by studying
all areas of our decisions and decision making
processes so we can have the information
needed to make the best decisions possible.
Case Study #2 answers
• 4. Accountability: We are accountable for our
choices
• We are the final decision makers in life.
• It is important as we must learn to choose
wisely.
• We can incorporate this into our lives by setting
good goals and then by making wise choices to
help us attain those goals—goals that our
Heavenly Father would have us seek for.
Case Study #3
Data
 Brenda was concerned as one of her friends was
blessed with material riches, and made poor choices
which caused him to lose his testimony. She asks: “If
wealth is so bad, should we seek for riches?”
Application
 What did the prophet Jacob in Jacob 2:18-19 say about
this question? What should we seek for first?
Case Study #3 answers
 The prophet Jacob said seeking for riches is OK “if”
we first seek the Kingdom of God, and if we seek
riches for the right intent--for righteous purposes.
• "But before ye seek for riches, seek ye for the
kingdom of God. "And after ye have obtained a
hope in Christ ye shall obtain riches, if ye seek
them; and ye will seek them for the intent to do
good-to clothe the naked, and to feed the hungry,
and to liberate the captive, and administer relief to
the sick and the afflicted". (Jacob 2:18-19)
• First, we should seek for the Kingdom of God and
doing His will. Then we can seek for riches—but
with the intent to do good
Case Study #3 answers
 President Gordon B. Hinckley said:
• “The Lord will love us, I think, to the degree to
which we lift and bless those in distress. I believe
that with all my heart, mind, and soul. The
accumulation of means is not a bad endeavor when
those means are used to bless the needy of the
earth.” (Discourses of President Gordon B.
Hinckley, Volume 2, Intellectual Reserve, 2005, p.
593.)