An oft-misquoted saying is the phrase, "Money is the root of all evil." However, the source of the quote correctly reads "The love of money is the root of all evil" (1 Timothy 6:10). Church members are taught that, under the right perspective, money can be a blessing.

Lacking financial literacy can be the first obstacle for some members. As the site teaches users about the tools and resources available, it also emphasizes acquiring an understanding of how the Lord would have them use their wealth.

Now, a new Web site on personal finance is available through BYU that offers tools and strategies to help families and individuals, at every stage of financial knowledge, plan for a lifetime of financial freedom and wise giving.

The site, found at personalfinance.byu.edu, offers an LDS perspective on wealth and is divided into three courses: a beginner course designed for high school students and college freshmen; an intermediate course intended for college students and married couples; and a final course that teaches about retirement planning and investing.

Bryan Sudweeks, associate professor at the BYU Marriott School of Management and the principal developer of the Web site, said it is intended to "help people put foundations to their dreams." He said, "Once people determine their goals, we give them the tools to achieve them and keep their personal finances in order."

Much of the material now available online comes from Brother Sudweeks' personal finance planning course for MBA students, including a downloadable 624-page manual used in the graduate-level class.

Brother Sudweeks said the inspiration to make the materials available at no cost started when, while working as a Church regional welfare agent in San Francisco, he saw the great need bishops had for this kind of information.

"There was no place bishops could go to get information on personal finance to help their members," he said. "This was a great need. Interestingly, I left my job in San Francisco to take a position at BYU teaching ... among other classes, a class on personal finance.

"After teaching the class for a few years, I realized that I could make this information available — information from a correct perspective — via a Web site."

The Web site uses a doctrinal approach for what it teaches and seeks not only to make users more finance savvy but help them make behavioral changes when it comes to spending and saving. Before delving into topics like securities market, mutual funds or the time value of money, the beginner lesson starts by expounding on the principles of ownership, stewardship, agency and accountability. It stresses the point that everything an individual has is given by the Lord, and although each person is free to choose what he or she will do with temporal blessings, each will one day be held accountable to Him for how those blessings are used.

Other topics included in the beginner course are "Setting Personal Goals," "Understanding Credit," and "Learning to Give." The latter, teaching that people should give out of love, that it should be somewhat of a sacrifice but that giving should also be done in wisdom.

Scriptural references abound throughout the site as well as quotes from General Authorities speaking on anything from using wealth wisely to keeping a budget and even the importance of having adequate insurance.

Moving to more involved topics, the advanced course deals with tax planning, questions to ask before investing, bonds and stocks, building and rebalancing a portfolio and the basics on estate planning.

The lessons build on themselves, but depending on the person's financial knowledge they can begin anywhere. Each lesson is comprised of several sections that take about an hour to complete. Shorter versions of the sections and PowerPoint presentations are also available for family home evening and other group lessons.

"The thing that's nice about it is that it first introduces you to all the topics you should be aware of," said James Pierce, a senior majoring in finance from Pleasant Grove, Utah, who assisted in the review process of the Web site. "That's usually the biggest problem. People don't know what questions to ask in the first place to get started on their personal finances."

As he anticipates his graduation in April, he said the tools and skills he gained from Brother Sudweeks' courses allow him to know exactly how to manage his money to reach his financial goals. "It's been really nice to use some of these tools to learn about retirement options and even calculate out how much I need for retirement based on a number of factors. I have my own little plan of how I'm going to reach my retirement goals before I've graduated and started to work and earn money with a full-time job."

E-mail to: cmorales@desnews.com