
Offhand, I'd say that, as with most lifestyle choices that aren't specifically commanded one way or the other, there are pros and cons. They can bring us closer to God or push us away from him. All of us are born with a conscience that comes from God and/or have the proper gifts of the Holy Spirit to help us discern whether the choices we make regarding our expenditures and material possessions really are drawing us closer to Heavenly Father or leading us away from him.
I recently read a passage near the end of The Book of Mormon with my family. Mormon, a prophet, talks about a couple of concepts about discerning whether things are good or evil that can apply here. On the one hand, he says that a bitter fountain can't bring forth good water and that a good fountain can't bring forth bitter water. This would seem to indicate that there are certain things that are just inherently good or inherently bad.
On the other hand, he talks about a different kind of thing by saying that if the thing persuades us to do good and to follow Christ it is of God. If it persuades us to do evil then it's not of God. That would seem to indicate that it's the effect that things have on us that make the thing good or bad, as opposed to an analysis of the thing's character. I would think that if a thing were inherently evil then we would have been commanded against it for our own protection. The Savior warned us that it is difficult for a rich man to enter into the gates of heaven, but didn't say that it was downright wrong. There is a commandment to seek first the kingdom of God and a warning that one cannot serve God and Mammon, but that's different than a "Thou shalt not..." statement.
All that has been commanded that I know of regarding finances and lifestyle are tithing, generous offerings, wise investments, no misuse of church resources for those investments, savings, and food storage.
Going back to my first thought, there are probably those of us for whom wealth could become a great evil. It could cause us to become prideful, to serve Mammon, to contribute to inequalities that lead to the destruction of the people of God all throughout the The Book of Mormon, to fill our lives with activities that distract us from the most important things, and to distance ourselves from the Spirit. Those same resources could enable us to give generously to others, to serve those who are less fortunate, to serve missions for the Church, to provide assistance and support to our families and children, and in so doing draw us closer to the Spirit.