The online Merriam-Webster dictionary defines provident as:
I also remembered/came across a talk by Elder Robert D. Hales that he shared in the April 2009 conference:
"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."
I love his definition so much more. To reiterate the principles he outlined, provident living is:
- Joyfully living within our means - I think the key word is JOYFULLY! It can be depressing and/or frustraing to see what others have that you want, to live on a budget, even to be frugal. To find joy in living frugally is what it is all about!
- Being content with what we have - ditto what I said above! It is the whole needs vs. wants thing.
- Avoiding excess debt - In his address he later outlines reasonable reasons for debt (home, school, and possibly car). The key is to be prudent and only borrow what you can afford to pay back quickly.
- Dilgently saving and preparing for rainy day emergencies - In today's economy, there are a lot of rainy days. It sure is nice to have a stockpile of food in my pantry and freezer and a little bit of money in the bank! If you don't/haven't started - start now! It is not too late!
How about you? How do you define provident living? Find more ways to live frugally on Life as Mom!