Debt is a form of bondage

"Remember this: debt is a form of bondage....

"Some debt—such as for a modest home, expenses for education, perhaps for a needed first car—may be necessary. But never should we enter into financial bondage through consumer debt without carefully weighing the costs."

- Elder Joseph B. Wirthlin, Of the Quorum of the Twelve Apostles, "Earthly Debts, Heavenly Debts," Ensign, May 2004
http://www.lds.org/ensign/2004/05/earthly-debts-heavenly-debts?lang=eng