As a Lutheran the general rule of thumb passed down to me from family and the Lutheran Financial Services is the 10-10-80 rule. 10% to church, 10% to put away for the future and 80% to live on. In that order. No stuff until the church and saving are taken care of. This isn't mustacian level advice, but if people follow it then they shouldn't drown in debt.
Too much of anything can be bad. Balance is important.
When I had gobs of student loan debt, I still put in my %, and I also still put money aside for the future. The loans took a little longer to pay off, but I keep up the habit of paying God and my future self first. Everything else will fall in line.
LV
Edit for last paragraph.