LDS Financial Calculator

Plan your tithing, fast offerings, and savings with this comprehensive financial tool designed for Latter-day Saint families and individuals.

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Comprehensive Guide to LDS Financial Stewardship

Financial stewardship is a fundamental principle in The Church of Jesus Christ of Latter-day Saints. The Lord has commanded us to be wise with our temporal resources, paying tithing, giving fast offerings, avoiding unnecessary debt, and preparing for our future needs. This comprehensive guide will help you understand and implement these principles in your personal financial planning.

The Doctrine of Tithing

Tithing is one of the most important commandments related to financial stewardship. The Lord has declared:

“Bring ye all the tithes into the storehouse, that there may be meat in mine house, and prove me now herewith, saith the Lord of hosts, if I will not open you the windows of heaven, and pour you out a blessing, that there shall not be room enough to receive it.” (Malachi 3:10)

In modern revelation, the Lord has confirmed this principle:

“And this shall be the beginning of the tithing of my people. And after that, those who have thus been tithed shall pay one-tenth of all their interest annually; and this shall be a standing law unto them forever.” (D&C 119:4)

How Tithing is Calculated

Tithing is generally calculated as 10% of your increase or income. For most people, this means 10% of their gross income (before taxes and other deductions). However, the First Presidency has clarified that:

Tithing is 10% of your interest or income
It should be paid on all income, including wages, salaries, bonuses, rental income, investment income, and business profits
It should be paid before other expenses
It is a personal matter between you and the Lord how you define “increase”

Blessings of Paying Tithing

While we should pay tithing because it’s a commandment, the Lord has promised specific blessings to those who faithfully obey this law:

Spiritual Blessings: Increased faith, testimony, and spiritual protection
Temporal Blessings: The windows of heaven opened with blessings you can’t contain
Protection: Protection from financial difficulties and unexpected expenses
Opportunities: Increased opportunities to serve and bless others
Peace of Mind: Freedom from the love of money and materialism

Fast Offerings and Welfare Principles

In addition to tithing, Latter-day Saints are commanded to give fast offerings. These offerings are used to care for the poor and needy in our communities. The prophet Isaiah taught:

“Is not this the fast that I have chosen? to loose the bands of wickedness, to undo the heavy burdens, and to let the oppressed go free, and that ye break every yoke? Is it not to deal thy bread to the hungry, and that thou bring the poor that are cast out to thy house? when thou seest the naked, that thou cover him; and that thou hide not thyself from thine own flesh?” (Isaiah 58:6-7)

How Fast Offerings Work

Fast offerings are typically given on the first Sunday of each month (Fast Sunday) when members of the Church fast for two consecutive meals. The money that would have been spent on those meals is donated as a fast offering, though many choose to give more generously.

Key principles of fast offerings:

They should be given with a cheerful heart (2 Corinthians 9:7)
The amount is between you and the Lord, but should be sacrificial
They are used locally to help those in need in your ward and stake
100% of fast offerings go to help the poor – no administrative costs are deducted

Additional Welfare Principles

The Church’s welfare system is designed to help people become self-reliant. In addition to fast offerings, members are encouraged to:

Build a home storage of food and essential supplies
Develop marketable skills through education and training
Live within their means and avoid unnecessary debt
Serve others in their community
Participate in Church welfare programs when needed

Debt Management from an LDS Perspective

Church leaders have consistently counselled members to avoid debt whenever possible. President Gordon B. Hinckley famously taught:

“I urge you… to get out of debt and to stay out of debt. Pay off your credit cards every month. If you have debt, pay it off as quickly as you can. Save some money against a possible rainy day. Live within your means.” (“To the Boys and to the Men,” Ensign, Nov. 1998)

Types of Debt to Avoid

Type of Debt	Church Counsel	Recommended Approach
Credit Card Debt	Avoid completely	Pay full balance monthly, use only for convenience
Consumer Loans (cars, boats, etc.)	Minimize	Save and pay cash, or use short-term loans with large down payments
Student Loans	Be cautious	Minimize borrowing, choose affordable education options
Home Mortgage	Be prudent	20% down payment, 15-year term if possible, payment ≤25% of income
Medical Debt	Manage responsibly	Negotiate payment plans, use savings or insurance first

Getting Out of Debt

If you find yourself in debt, here’s a step-by-step approach to becoming debt-free:

Stop creating new debt: Cut up credit cards if necessary and commit to no new borrowing
Create a budget: Track all income and expenses to understand your cash flow
Build a small emergency fund: $1,000 to cover unexpected expenses without going further into debt
List all debts: Write down each debt with the balance, interest rate, and minimum payment
Choose a payoff method:
- Debt Snowball: Pay minimums on all debts, put extra toward the smallest balance first
- Debt Avalanche: Pay minimums on all debts, put extra toward the highest interest rate first
Increase income: Look for ways to earn more through side jobs, selling items, or career advancement
Reduce expenses: Cut non-essential spending and redirect those funds to debt repayment
Stay motivated: Celebrate small victories and track your progress
Build full emergency fund: Once debt-free, save 3-6 months of expenses

Savings and Preparedness

The Church emphasizes the importance of preparation and self-reliance. President Ezra Taft Benson taught:

“We have been commanded to prepare for adversity by having a year’s supply of food and clothing, and where possible, some money in savings. This counsel is not new, but it is everlasting.” (“Prepare for the Days of Tribulation,” Ensign, Nov. 1980)

Types of Savings to Prioritize

Emergency Fund

3-6 months of living expenses to cover unexpected job loss, medical emergencies, or major repairs. This should be in highly liquid accounts (savings or money market).

Home Storage

A year’s supply of food and essential non-food items. This can be built gradually by purchasing a few extra items each shopping trip.

Retirement Savings

Long-term savings for retirement through 401(k)s, IRAs, or other investment vehicles. The Church suggests saving 10-15% of income for retirement.

Education Savings

Funds set aside for children’s education through 529 plans or other education savings accounts.

Mission Fund

Savings to cover the cost of a mission for yourself or your children. Current mission costs are approximately $500/month for young men and $500/month for young women.

Special Purpose Savings

Funds for specific goals like a home down payment, car purchase, or family vacation.

Building Your Savings

Here are practical steps to build your savings:

Pay yourself first: Treat savings like a bill – set aside money before other expenses
Automate savings: Set up automatic transfers to savings accounts
Start small: Even $20-50 per month adds up over time
Increase gradually: Increase your savings rate with each raise or bonus
Use windfalls wisely: Put tax refunds, bonuses, or unexpected income toward savings
Reduce expenses: Look for areas to cut back and redirect those funds to savings
Track progress: Regularly review your savings goals and celebrate milestones

Investing Principles for Latter-day Saints

While the Church doesn’t provide specific investment advice, there are principles that can guide Latter-day Saints in their investment decisions:

Diversification: “Divide thy investments into seven parts, and also into eight; for thou knowest not what evil may come upon the earth.” (Ecclesiastes 11:2)
Long-term perspective: Avoid get-rich-quick schemes and speculative investments
Ethical investing: Avoid investments that conflict with gospel principles
Moderation: Avoid excessive risk or the love of money (1 Timothy 6:10)
Stewardship: Remember that all we have belongs to the Lord (D&C 104:13-17)

Common Investment Options

Investment Type	Risk Level	Potential Return	Liquidity	Considerations
Savings Accounts	Very Low	Low (0.5-2%)	High	FDIC insured, good for emergency funds
Certificates of Deposit (CDs)	Low	Low-Moderate (1-3%)	Low (penalty for early withdrawal)	Fixed term, higher rates than savings accounts
Bonds	Low-Moderate	Moderate (2-5%)	Moderate	Fixed income, less volatile than stocks
Stocks (Individual)	High	High (7-10% avg)	High	Volatile, requires research, potential for significant gains/losses
Mutual Funds/ETFs	Moderate-High	Moderate-High (6-9%)	High	Diversified, professionally managed, lower risk than individual stocks
Real Estate	Moderate-High	Moderate-High (4-10%)	Low	Illiquid, requires management, potential for leverage
Retirement Accounts (401k, IRA)	Varies	Moderate-High (5-8%)	Low (penalties for early withdrawal)	Tax advantages, employer matching potential

Teaching Children Financial Principles

One of the most important responsibilities of Latter-day Saint parents is to teach their children principles of financial stewardship. Elder Marvin J. Ashton taught:

“Perhaps no other responsibility affects the total well-being of our children as much as does teaching them the true value of money and how to use it wisely.” (“One for the Money,” Ensign, July 1982)

Age-Appropriate Financial Lessons

Ages 3-5

Introduce concept of money (coins, bills)
Teach that money is earned through work
Simple saving with a clear jar
Distinguish between needs and wants

Ages 6-10

Give small allowance tied to chores
Introduce saving, spending, giving jars
Teach about tithing and fast offerings
Simple budgeting with their money

Ages 11-14

Open a savings account
Teach about interest and compound growth
Encourage part-time jobs or entrepreneurship
Introduce more complex budgeting

Ages 15-18

Teach about credit and debt
Discuss college savings and costs
Introduce investing basics
Help create a budget for adulthood

Family Financial Activities

Here are some practical activities to teach financial principles as a family:

Family Budget Night: Involve children in age-appropriate budget discussions
Grocery Shopping Lessons: Teach comparison shopping and budgeting for groceries
Savings Challenges: Set family savings goals for special activities or purchases
Service Projects: Combine service with financial lessons (e.g., fast offering projects)
Family Business: Start a small family business (lemonade stand, craft sales, etc.)
Mission Savings Jar: Visually track savings for future missions
Financial Scriptures Study: Study and discuss scriptures about money and stewardship

Church Resources for Financial Self-Reliance

The Church provides numerous resources to help members achieve financial self-reliance. These include:

Self-Reliance Services: Classes and resources on personal finance, education, and career development
ProvidentLiving.org: Official Church website with articles and tools on preparedness
Welfare Square: Local resources for food production and storage
Employment Resource Services: Help with job searches, resumes, and career development
Addiction Recovery Program: Help for those struggling with financial addictions (gambling, overspending, etc.)

You can access many of these resources through your local ward or stake, or online at the official Church website.

Common Financial Challenges and Gospel Solutions

Even with the best planning, financial challenges can arise. Here are some common challenges and how gospel principles can help:

Challenge: Job Loss

Gospel Solution: Rely on your emergency fund, fast and pray for guidance, use Church employment resources, consider temporary work or self-employment.

Challenge: Medical Expenses

Gospel Solution: Use health savings accounts, negotiate with providers, apply for charity care, seek priesthood blessings for healing and comfort.

Challenge: Unexpected Repairs

Gospel Solution: Use emergency savings, prioritize needs over wants, seek help from family or ward members if needed.

Challenge: Overspending

Gospel Solution: Create and stick to a budget, practice self-discipline, focus on eternal values rather than material possessions.

Challenge: Marriage Financial Conflicts

Gospel Solution: Counsel together in unity, create shared financial goals, seek inspiration through prayer and scripture study.

Challenge: Student Loan Debt

Gospel Solution: Live frugally to pay down debt quickly, consider income-driven repayment plans, seek education that provides marketable skills.

Spiritual Aspects of Financial Stewardship

Ultimately, our financial stewardship is about more than just money – it’s about our relationship with Heavenly Father and our preparation for eternal life. President Howard W. Hunter taught:

“The principle of tithing is an eternal principle and has been known from the days of Adam to the present time. It is not a new principle, but it is an eternal principle of the gospel of Jesus Christ.” (“The Law of Tithing,” Ensign, Oct. 1984)

Financial Stewardship and Temple Worthiness

Our financial choices can affect our spiritual standing. Consider these connections:

Tithing: Paying a full tithe is a requirement for temple recommend interviews
Honesty: Financial integrity in all dealings is essential for temple worthiness
Self-Reliance: Being financially responsible helps us care for our families and serve others
Freedom from Bondage: Avoiding debt helps us maintain our agency and avoid the bondage of creditors
Charity: Our willingness to give fast offerings and help others reflects our Christlike love

Financial Preparation for Eternal Life

Our earthly stewardship prepares us for eternal responsibilities. Consider how financial principles relate to eternal progression:

Tithing: Teaches us to put God first in all things
Budgeting: Helps us learn to manage resources wisely
Saving: Prepares us for future needs and responsibilities
Debt Avoidance: Keeps us free from temporal bondage
Generosity: Develops Christlike charity and love
Self-Reliance: Prepares us to care for ourselves and others
Gratitude: Helps us recognize all blessings come from God

Additional Resources and References

For further study on LDS financial principles, consider these authoritative resources:

For personal financial counseling, consider speaking with your bishop or visiting the Church’s Self-Reliance Services.

Conclusion: Becoming a Consecrated Steward

Financial stewardship in The Church of Jesus Christ of Latter-day Saints is about much more than just managing money – it’s about becoming a consecrated disciple of Jesus Christ. As we faithfully live these principles, we prepare ourselves for both temporal and spiritual blessings.

Remember the words of President Thomas S. Monson:

“May we ever be mindful of the blessings of tithing, which blessings are not always measured in dollars and cents but are often spiritual in nature. The payment of tithing is an opportunity to show our gratitude to our Heavenly Father for all that He has given us. It is one of the ways we acknowledge that all we have comes from Him.” (“The Blessings of Tithing,” Ensign, May 1983)

As you use this calculator and apply these principles in your life, may you find peace, security, and the blessings that come from being a wise and faithful steward of the resources Heavenly Father has entrusted to you.