Sage words of advice

Here are a few paragraphs from a wonderful talk by Robert D. Hales on living within our means (I just hope I could always follow this advice!):

What is a provident provider?
All of us are responsible to provide for ourselves and our families in both temporal and spiritual ways. To provide providently, we must practice the principles of provident living: joyfully living within our means, being content with what we have, avoiding excessive debt, and diligently saving and preparing for rainy-day emergencies. When we live providently, we can provide for ourselves and our families and also follow the Savior’s example to serve and bless others.
Being provident providers, we must keep that most basic commandment, “Thou shalt not covet” (Exodus 20:17). Our world is fraught with feelings of entitlement. Some of us feel embarrassed, ashamed, less worthwhile if our family does not have everything the neighbors have. As a result, we go into debt to buy things we can’t afford—and things we do not really need. Whenever we do this, we become poor temporally and spiritually. We give away some of our precious, priceless agency and put ourselves in self-imposed servitude. Money we could have used to care for ourselves and others must now be used to pay our debts. What remains is often only enough to meet our most basic physical needs. Living at the subsistence level, we become depressed, our self-worth is affected, and our relationships with family, friends, neighbors, and the Lord are weakened. We do not have the time, energy, or interest to seek spiritual things....

When faced with the choice to buy, consume, or engage in worldly things and activities, we all need to learn to say to one another, “We can’t afford it, even though we want it!” or “We can afford it, but we don’t need it—and we really don’t even want it!”....

When our boys were young, we had a family council and set a goal to take a “dream vacation” down the Colorado River. When any of us wanted to buy something during the next year, we would ask each other, “Do we really want to buy that thing now, or do we want to take our dream trip later?” This was a wonderful teaching experience in choosing provident living. By not satisfying our every immediate want, we obtained the more desirable reward of family togetherness and fond memories for years to come....