By Jeffry L. Sessions

Mark and Jill, while breaking away for the first time from their young children for a mini-vacation, were lured into having a free lunch (where have we heard that before?) if they would sit through a “brief” sales presentation. It turned out to be a two-hour sales pitch on all the advantages of owning a time-share they could use through the rest of their lives. Seeing only the fun they would experience as they chose from the wide selection of destinations (tropical hideaways, challenging ski trips, and elegant international resorts — you get the idea) they signed up. Soon they found themselves committed for a payment plan of a couple of hundred dollars a month over the next ten years.

Perhaps we might be sitting here thinking of how foolish they were but, in reflecting upon the many enticing invitations we have had in our lives, haven’t we seen ourselves making unwise commitments with our money?

How about this one: Mike, while running an errand to pick up some items at a nearby superstore, decided to take his 8 year-old son, Eric, along. Soon Mike found himself listening to his son begging for a new bike to replace the very usable one they picked up at the garage sale last year. Feeling guilty because his parents gave him only hand-me-downs, he felt justified in buying the new bike by telling himself that his kids won’t have to keep riding used bikes.

These examples can pose some very interesting questions for us: “Why do we spend our hard earned money on things that we find ourselves not really needing?” A very good question.  “Did they ‘need’ to make these purchases?” Obviously not. “Was what they decided to buy sufficient for their needs?” Probably not.  

What we are seeing with these two families further illustrates a very important principle: “If we don’t understand what really is sufficient for our needs, then our spending choices won’t be much different than what they are now.” Spending is a skill that needs to be honed and refined over time.

I can remember my parents telling me that, “It takes no talent to spend your money.” Managing our money is a very complex and emotional issue that needs time and experience to decide where (and when) it should be spent. An important step to becoming more skilled in managing our money would be to take the time to determine what is sufficient for our needs.

You can never have enough of what you don’t need.

I believe that all of us must, at some point in our lives, determine what really is sufficient for what we need. If we don’t, we may spend a good part of our lives going around comparing what we have to what others have, or competing in some type of financial marathon that we didn’t even know we signed up for. Or perhaps we might even find ourselves complaining that we should be entitled to something that we haven’t yet deserved or worked to receive. 

There is a maxim that goes something like this: “You can never have enough of what you don’t need because what you don’t need can never satisfy you.” We must, at some point in our lives, determine what we really need …and the sooner the better.

Here’s why:

We have all heard about the definition of insanity as someone who continues to do the same activity with the expectation of getting a different result. But could we extend this definition of insanity a bit further by defining emotional or material insanity as being “people who spend money they don’t have on things they don’t really need to impress people they don’t even know”? Once we have taken the time to settle in our own minds what really is sufficient for our needs, then life becomes much easier for us. We won’t be tempted to feel that life is unfair because we don’t have what others have…we have sufficient.  We may even find a peace within ourselves that is worth so much more than any material item we could ever buy at the new car showroom or upscale department store. 

The Rich Young Man — Me?

We remember the experience of the rich young man who approached the Savior and asked what he needed to do to gain eternal life. Jesus asked him if he lived the commandments. The rich young man said he had observed all the commandments since he was a child. Jesus saw that he had a problem that was holding him back. Jesus said, “One thing thou lackest: go thy way, sell whatsoever thou hast, give to the poor, and thou shalt have treasure in heaven: and come, take up the cross, and follow me,” (Mark 10:21).

The problem was not that the young man was wealthy. The problem was that he cared too much about his money. Christ could see that the young man needed to make a choice about things to which he would devote his life. That is the choice that we all must make to find satisfaction and contentment in our lives.

His story is our story in many ways. Some of us have “acquired much … by the hand of (our) industry” (Alma 10:4), and many have been given much through the blessings of the Lord. We may, at times, have forgotten the source of the blessings. We must be careful of what we do with what we have been given. If we spend these resources unwisely, mounting evidence will accumulate — verifying the real intents of our hearts, our desires to serve God and our fellowmen. Moreover, we are here to “prove (us) now herewith, to see if (we) will do all things whatsoever the Lord … shall command” (Abr 3:25).  How can the Lord trust us with the capability to create worlds if we are having a hard time managing our checkbook? 

As we frequently remind ourselves (in our minds but more particularly in our hearts) that we are all stewards of that which we have been given, then our lives take on an entirely different focus. We can honestly ask ourselves: Do I treat these gifts as a charge to use them wisely or use them for excessively selfish purposes? Or: Am I spending more of my time dedicated to building the kingdom and less concerned about what I have? 

Moreover, when we have determined more fully what is sufficient for our needs, then we are not as likely to compare ourselves with others. How can we put a price on the peace we would feel if we stopped competing, comparing and complaining?

Additionally, this feeling of being settled about what is sufficient will allow us to concentrate more of our time and resources on building the kingdom of God. We will find ourselves doing more of his work rather than spending much of our time trying to earn more and more money — as if it was the primary focus of our lives. It is important to understand what really is sufficient for our needs.

A Solid Foundation

The question of what is sufficient for our own particular circumstances will vary from one person to another. But we need to start somewhere. I suggest that the following list, as given by our church leaders, would be an essential place to start. Specifics to be included would be:

1. Paying an honest tithe and a generous fast offering
2. Obtaining a good education
3. Acquiring ample food storage
4. Having adequate savings (not a delayed spending account)
5. Being out of debt

Once we are satisfied that we have accomplished these fundamental, foundational priorities, then our list can be thoughtfully and prayerfully expanded. Those who have successfully accomplished the above list can testify of what it means to spend money on things that really are sufficient for their needs. The temptations, invitations and impulses to spend our money unwisely will be minimized as we focus on what is most important. We must have faith and seek for divine help as we humbly and prayerfully work through this lifelong challenge to know what is sufficient for our needs. And we will have help along the way.  Presiding Bishop David M. Burton recently provided excellent counsel for each of us:

I am suggesting that it is important for families and individuals to aggressively seek more of the virtues which go beyond this mortal life. A prayerful, conservative approach is the key to successful living in an affluent society and building qualities that come from waiting, sharing, saving, working hard and making due with what we have. May we be blessed with the desire and the ability to understand when more is less and when more is better (Ensign, Nov 2004).