What does the Bible say about Debt?

Posted by on Feb 5, 2012 in Finance | 0 comments

What does the Bible say about Debt?

What does the Bible say about Debt?

The borrower is slave to the lender. When you are in debt to another, you enter into a slave/master relationship with your creditor. (Proverbs 22:7)

God wants us to lend to others. Obviously, this is difficult if you don’t have anything to lend. (Deuteronomy 15:6, 28:12, Matthew 5:24)

We are required to pay back what we borrowed. It is easy to take this lightly, but if we borrowed it, we should pay it back. (Psalm 37:21, Ecclesiastes 5:4).

 

What the Bible does NOT say about debt

That it is a sin to be in debt. Like mentioned above, it is not God’s best for us, but the Bible does not say that it is a sin.

There are no instances in the Bible where God provides through a loan. He provided for His people in many ways but loans were not one of them. That is something to think about next time you get tempted to reach for the credit card.

What are the Biblical promises about debt

The way I look at it, Jesus came to set us free from the bondage of sin. We were slaves to sin, until He set us free. If He wanted to set us free in one area, why would He want us to be slaves in another?

I also love Deuteronomy 28:12:

The Lord will open for you His good storehouse, the heavens, to give rain to your land in its season and to bless all the work of your hand; and you shall lend to many nations, but you shall not borrow.”

This verse is one of the promises that I stand on when praying about my debt. The pre-requisite listed in Deuteronomy 28:1 is that we “diligently obey the Lord your God.”

God will NOT keep us out of debt

I believe God would love to see us living debt-free lives. But, we have a free will to do what we wish with it. We can choose to give it, save it, spend it, or even spend more than we have.

I also believe that God will work on our behalf to help get us out of debt, but we have a big part to play – to stop spending more than we have! It doesn’t matter how much God provides - as long as we are spending more money than we have, we will always be in debt.

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