FHE - Debt Purse

It’s been a while since I’ve posted a Memorable Monday Moment, or an idea for a family home evening lesson, but I found one while going through old files, so here you go.

“To pay our debts now and to avoid future debt requires us to exercise faith in the Savior – not just to do better but to be better. It takes great faith to utter those simple words ‘we can’t afford it.’ It takes faith to trust that life will be better as we sacrifice our wants in order to meet our own and others’ needs.”  Robert D. Hales

I vaguely recall making these little paper purses for a visiting teaching handout, and this could be an effective way to teach principles of wise money management to your children as well. Basically make a little paper purse, and fill it with coins (real or paper or chocolate) representing various principles. As you add and remove the coins, discuss how you could apply the principle it represents personally or as a family.

Some of these principles include

1. Pay your tithing.

2. Learn to save.

3. Spend less than you earn.

4. Honor your financial obligations.

What principles would you add?

Here’s the link to instructions for making the “get out of debt” purse. And here’s the pattern.

Here’s another family night idea for helping children understand the family budget