I have a question about personal finances and what a Biblical perspective on them would be. There are multiple Proverbs that discuss how a borrower is a slave to the lender, and there is also Jesus telling us that no one can serve two masters. There are also people such as Dave Ramsey who say that all debt is bad and we should pay it off immediately.
My question is this: is it a sin to purposefully have debt in order to have certain things? (Car, house, etc.)
-My wife and I have a credit card that we only use for gas and groceries, and then we pay the full balance each month. This helps us build credit and acquire rewards points.
-Between her leased vehicle, my financed one, and her student loans, our monthly debt-to-income ratio is only slightly over 8%. If you include rent for our apartment, that increases to 34%. (We would like to get a house in the next couple of years, and the house payment will be less than our current rent.)
-We are giving each month to the local church and another organization
We have enough money in savings and mutual funds to pay off my car, her lease, and part of her student loans, but then we would have no money in savings, and no mutual funds.
From my viewpoint, I don’t think we are doing anything that is considered sinful in terms of our finances. However, I understand that I am a fallible human, and if I am completely in the wrong, I would appreciate the constructive criticism and guidance.