"Now is the time to pay off obligations. Let us use the opportunity we have to speed up repayment of mortgages and to set aside provisions for education, possible periods of decreased earning power, and emergencies the future may hold"
- Ezra Taft Benson
- Ezra Taft Benson
Debt
It Never Sleeps....
President J. Reuben Clark Jr. described it this way:
“Interest never sleeps nor sickens nor dies; it never goes to the hospital; it works on Sundays and holidays; it never takes a vacation. … Once in debt, interest is your companion every minute of the day and night; you cannot shun it or slip away from it; you cannot dismiss it; it yields neither to entreaties, demands, or orders; and whenever you get in its way or cross its course or fail to meet its demands, it crushes you.” Conference Report April 1938.
Debt warning has been around...
President Heber J. Grant said,
“From my earliest recollections, from the days of Brigham Young until now, I have listened to men standing in the pulpit … urging the people not to run into debt; and I believe that the great majority of all our troubles today is caused through the failure to carry out that counsel.” Conference Report 1921
Websites:
- CNN Money 101 "Controlling Debt"
10 Things to know about controlling your debt - Credit Card Eliminator
CNN offers a calculator which will give you information on how long until you can pay off ALL of your credit cards, how much you should pay each month to be debt-free in X amount of months, and more. - Peace in Your Hearts: Managing Household Finances Wisely
- The Debt Snowball
Additional Resources:
Debt Addiction.doc (84 Kb)
A talk given by Jerry Mason in the June 1991 Ensign.
Earthly Debts.doc (138.102 Kb)
A talk given by Elder Joseph B. Wirthlin in the May 2004 Ensign.
