There is much emphasis in the Church placed on provident living and seeking financial self-reliance.  Indeed, we have been warned and admonished in modern scripture and by the words of modern prophets to release ourselves from the bondage of debt (see D&C 19:35) and get our houses into order (D&C 88:119 and D&C 132:8). 

However, how do we learn to live a debt-free life and what are the blessings we can all experience as we strive for greater financial freedom? 

Tithing and Generous Offerings

Experiencing the blessings of a debt-free life all starts with learning to put the Lord first and paying an honest tithing and a generous fast offering.  Being obedient to the Lord's law of finance helps to put us into the correct frame of mind — recognizing that all we have comes from the Lord. 

When we learn to discipline ourselves enough to return a tenth of all our increase to the Lord and pay a full and honest tithing first, before worrying about all other financial responsibilities, we simultaneously demonstrate our complete reliance on God and our faith that he will provide for our needs. 

When we go a step further and donate a generous fast offering, we demonstrate to the Lord our selflessness and willingness to sacrifice our own wants and desires to help others in need.  This qualifies us for even greater blessings, as the great paradox of Christianity holds: "many that are first shall be last; and the last first" (Mark 10:31).       

Food Storage

Another important way to show our obedience and allegiance to God and his word, as we strive to live a debt-free live, is to build up our food storage.  Just like paying our tithes and offerings, following the council of modern-day prophets and building up a storeroom of food and supplies takes discipline and faith — two key characteristics necessary to achieve financial freedom. 

Additionally, this supply of food and everyday necessities can provide an economic buffer to help us get through challenging times, when we otherwise may have to resort to using credit cards or other undesirable means to provide the essentials for our families.        

Living within our Means

From there, we must continue to discipline ourselves to better live within our means.  This often requires that we have to seek innovative ways to stretch our budget, utilizing such things as coupons, hitting the local thrift shop and garage sales, or shopping for the big sale.  However, this will only get us so far. 

Most importantly, it means understanding the difference between needs and wants and developing the ability and discipline to prioritize those things we really do need.  Such discipline does not come easy and can only be developed over time, and it is best to start developing such habits of frugality and self-restraint at a young age. 

Additionally, we must learn to be happy and satisfied with what we do have and learn that more "stuff" will not make us any happier.  Indeed, coveting others' possessions and "seeking false [material] Gods" is one of Satan's greatest tools and is ever-present in our increasingly materialistic society.  Only as we learn to free ourselves from the covetous desire to "keep up with the Joneses" will we learn to appreciate what the Lord has already amply blessed us with and not needlessly hamper ourselves down with the financial debt required to satisfy such material cravings.        

The Blessings of Financial Freedom

It is hard to fully articulate my appreciation for the many blessings and the sense of financial freedom that can be had through living a debt-free life.  Through the faithful paying of tithes and offerings, I know that I have been blessed with multiple sources of income and the financial self-discipline that have enabled me to provide the necessities for my growing family. 

Additionally, the food storage that my wife has so diligently built up has provided us with an increased sense of security and actually enables us to save greatly on our monthly food budget and actually eat more healthy foods.