This research addresses the paradoxical beliefs and conceptualizations about money and stewardship among young adult Mormons and its consequences for the Mormon identity. The findings for this paper are based on 12 in-depth interviews with Brigham Young University students, recently graduated students, and, when applicable, their spouses, totaling 20 interviewees between the ages of 20 and 31. The data suggest that unique beliefs surrounding money have emerged from the Mormon culture as remnants of their early Mormon values still lingering in contemporary Mormon culture clash with the individualistic and consumer culture surrounding the interviewees. Interviewees demonstrate cognitive dissonance as they attempt to combine the contradictory concepts of stewardship and consumerism into their financial attitudes and behaviors. The connection between money and their Mormon identity was articulated often as a need to stay out of debt and avoid extravagance.