Doctrine and Covenants section 104 verse 78 states “And again, verily I say unto you, concerning your debts—behold it is my will that you shall pay all your debts.”
If we liken the scriptures to ourselves, we know from reading this verse that God wants us to pay our debts. He prefers that we are debt-free. He has also referred to debt as “bondage.” (D&C 19:35)
The General Handbook of The Church of Jesus Christ of Latter-day Saints teaches:
Members increase their financial preparedness by:
• Paying tithes and offerings.
• Minimizing debt.
• Living within a budget.
• Saving for the future.
• Obtaining an appropriate education.
If you need help managing your finances, the Church has many resources available. See this page for a list that includes Financial Calculators.
Also check with your local congregation to find out if the Personal Finances self-reliance class is being held locally. The workbook for the class can be found here.
