Hypothetical:[fn1] Alex and Pat both want a Kindle Fire.[fn2] Alex goes to the local brick-and-mortar[fn3] Amazon store, pays $200 cash, and takes a Kindle Fire home. Pat goes to the bank, gets a loan for $200, goes to the local brick-and-mortar Amazon store, pays the $200, and takes a Kindle Fire home. Who made the better decision?[fn4] *** In the Church, we’re suspicious of debt. Sure, we get a pass on student loans, a modest house, a first car, but, as a general rule, our leaders discourage incurring consumer debt, and celebrate those who have escaped debt’s clutches. Having grown up a member of the Church, and having heard the various talks and lessons, I suspect most members would say that Alex made the better decision;Alex has the Fire and no debt. Pat, on the other hand, has both the Fire and the debt. *** Assuming you agree with my intuition that, in general, Mormons would think that Alex made the better decision, I want to push that intuition a little: (1) Let’s suppose, first, that Alex bought with cash because he has $200 just lying around. Pat, on the other hand, doesn’t, and the only way she can afford a Kindle is by borrowing. But assume Pat has a steady, if low-paying, job with amazing job security, while Alex, though making more money,has a 70% chance of losing his job in the next three months, with an uncertain outlook…
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