If you don't have a car loan or any debt- awesome! Stay that way! But just so you understand the consequences of debt, look at the following scenario:
You have just started your first job and received a credit card with a $4500 limit at 18% interest.
With your credit card you purchased some really cool things; a new television ($1200), a new wardrobe ($800), a new computer ($1200), and decided to get some incredible rims for your car ($1300). You have maxed out your card and now owe $4500. You are faithful in making the $180 a month payments. $180 a month may not sound like too much, but here is the true cost of these purchases.
With interest, you have ended up paying $7073.51. Not only that, it will take you almost 11 years to pay off this credit card. By the time you pay off the debt the clothes you purchased will be completely out of date, your computer will be technologically obsolete, your TV will have died a year ago, and those awesome rims you bought are more than likely in a junk yard.