Understanding Financial StewardshipSýnishorn

God’s Opinion of Debt

The Bible leaves no doubt about God’s opinion regarding debt:

“Owe nothing to anyone except to love one another; for he who loves his neighbor has fulfilled the law” (Rom. 13:8).

“The rich rules over the poor, and the borrower becomes the lender’s slave” (Prov. 22:7).

In our world today, many people have ignored these truths. In the United States alone, hundreds of thousands of people are on the brink of bankruptcy. Millions of people are not only living pay check to pay check, they’re within 60 days of being homeless or in dire financial need. And America’s consumer debt has reached an all-time high of $3.898 trillion*. We’ve bought into a “buy now, pay later” philosophy that’s been sold to us for decades by advertisers tempting us to believe we must have the product they’re selling in order to project an image of worth.

In short, we’ve swallowed a lie, and we’re gagging on it.

God doesn’t want His people to be in debt. The only thing we’re to owe others is our love, which we’re to give freely and in tangible forms. We’re to be givers, not borrowers.

The price for indebtedness can be high. In ancient times, the children of Israel lost much of their land and possessions because of debt, and some sold themselves or their children into slavery in order to pay their debts (Neh. 5:3-5). We may protest, “How horrible! How could they sell their children to work off debt?” Yet that’s exactly what so many of us are doing today, strapping our children with mountains of debt long after we’re gone. 

Additionally, God doesn’t want His people in debt because it has a negative impact on their spiritual lives. Some of the reasons God is opposed to debt can be discovered when we take a look at the reasons people get into debt in the first place. Many get into debt because:

· They buy things they can’t afford.

· They make unwise investments.

· They’re careless in their purchases, making unwise or unnecessary choices.

· They lack forethought for the future.

· They lose a job or miss work owing to illness, injury, or laziness.

We must remember that it’s far easier to stay out of debt than to get out of debt. Make a decision to follow God’s plan in your finances and guard against falling prey to the alluring messages that tempt you to borrow, buy beyond your means, or spend your money unwisely (Prov. 13:22).

*U.S. Federal Reserve, May 2018