The Church News recently published an article on the importance of getting out of debt (and staying out). The link is here. There are many inspiring quotes. One from President Monson states:
"Perhaps no counsel has been repeated more often than how to manage wisely our income. Consumer debt in some nations of the world is at staggering levels. Too many in the Church have failed to avoid unnecessary debt. They have little, if any, financial reserve. The solution is to budget, to live within our means, and to save some for the future" ("Guiding Principles of Personal and Family Welfare," September 1986).
