Biblical perspective of Debt

By Randell Tiongson on September 9th, 2023

The Bible has been a source of wisdom and guidance for countless people throughout history. Among its many teachings, the Bible offers valuable insights into the concept of debt. While the Bible does not explicitly forbid borrowing or lending, it contains principles and wisdom that shed light on how to approach debt responsibly. In this post, let’s explore debt from a biblical perspective using the Bible as our guide.

Proverbs 22:7The Borrower is the Slave of the Lender

In Proverbs 22:7, we find a powerful reminder about the nature of debt: “The rich rules over the poor, and the borrower is the slave of the lender.” This verse highlights the potential consequences of becoming indebted to others. When we owe money, we are beholden to the lender, and it can feel like a form of servitude. The Bible encourages us to exercise caution and wisdom when considering borrowing.

Romans 13:8Owe No One Anything

The New Testament also provides guidance on handling debt. Romans 13:8 states, “Owe no one anything, except to love each other, for the one who loves another has fulfilled the law.” While this verse does not condemn all forms of borrowing, it emphasizes the importance of fulfilling our obligations and being responsible borrowers. It encourages us to avoid excessive or unnecessary debt, as it can hinder our ability to fulfill our financial responsibilities and obligations to others.

Psalm 37:21The Righteous Shows Mercy and Gives

Psalm 37:21 reminds us of the importance of generosity and mercy: “The wicked borrows but does not pay back, but the righteous is generous and gives.” This verse highlights the contrast between those who borrow without fulfilling their commitments and those who are generous and fulfill their obligations. It encourages us to approach debt with integrity and a willingness to repay what we owe.

Matthew 6:24You Cannot Serve God and Money

In Matthew 6:24, Jesus teaches, “No one can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve God and money.” This verse underscores the importance of prioritizing our relationship with God over material wealth and financial concerns. It encourages us to be mindful of how our financial decisions, including borrowing and debt management, align with our faith and values.

Debt is a common aspect of modern financial life, and the Bible offers valuable guidance on how to approach it responsibly. While the Bible does not categorically condemn all forms of borrowing, it emphasizes principles such as caution, responsibility, integrity, and prioritizing our relationship with God over material wealth. By applying these biblical teachings to our financial decisions, we can navigate the complexities of debt while striving to honor both our financial obligations and our faith. Ultimately, a biblical perspective on debt encourages us to live with wisdom, generosity, and a commitment to love and serve others.

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Biblical perspective of Debt