Doing Money God's WaySample

The Dangers of Debt

If you think the Bible doesn’t have anything to say about debt, you might be surprised. And it’s not hard to look around our current culture and see debt as a significant issue, often leading to stress and financial bondage.

Proverbs 22:7 explicitly warns that the borrower becomes a “slave” to the lender. Taking on debt creates an extreme power dynamic, and one must live within the constraints the debt imposes.

And it's not just your own debt the Bible wants you to avoid; it also has strong words for anyone thinking about cosigning a loan and allowing a family member or friend to get into deep debt. Proverbs 17:18 warns, “One who has no sense shakes hands in pledge and puts up security for a neighbor.”

The message is clear: debt should be met with caution, not viewed as a shortcut to wealth generation by making big bets.

While not all debt is inherently wrong (most people could never own a house without a mortgage, for example), excessive and unmanageable debt can hinder our ability to live freely and serve God fully. It can also become a burden that distracts us from our spiritual and personal growth. The Bible encourages us to avoid unnecessary debt and to live within our means.

In Romans 13:8, Paul advises us to owe nothing to anyone except love. It encourages focusing on others rather than being entangled in financial commitments.

If you are struggling with debt, seek God's wisdom and guidance. Consider practical steps to reduce your debt, such as creating a budget, prioritizing payments, and avoiding more borrowing. Trust that God can provide a way out and bring freedom to your financial situation.

Prayer: Lord, help me to manage my finances wisely and avoid the pitfalls of debt. Give me the discipline to live within my means and the wisdom to seek help when needed. Grant me freedom from financial burdens and the ability to serve You without hindrance. Amen.

Reflection: What steps can you take to reduce or eliminate debt in your life?