"Avoid the philosophy that yesterday's luxuries have become today's necessities.
They aren't necessities until we make them so. Many enter into long-term debt
only to find that changes occur; people become ill or incapacitated, companies
fail or downsize, jobs are lost, natural disasters befall us. For many reasons,
payments on large amounts of debt can no longer be made. Our debt becomes as a
Damocles sword hanging over our heads and threatening to destroy us."
-
President Thomas S. Monson, April 2006 General Conference
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