What Does the Bible Say About Debt?

The Bible offers practical and spiritual wisdom regarding debt, generally warning against the burden of borrowing while emphasizing the importance of financial integrity and contentment. While Scripture does not explicitly forbid all forms of debt, it describes it as a form of bondage that can hinder a person's freedom to serve God. Proverbs 22:7 starkly warns, 'The rich ruleth over the poor, and the borrower is servant to the lender.' This principle highlights the loss of independence that often accompanies financial obligation, urging believers to exercise caution and avoid unnecessary debt that might lead to anxiety. The Christian is called to a life of honesty and the prompt fulfillment of all obligations. Romans 13:8 provides a powerful summary: 'Owe no man any thing, but to love one another: for he that loveth another hath fulfilled the law.' This command encourages the settlement of debts and the avoidance of living beyond one's means, prioritizing the 'debt of love' over financial arrears. Furthermore, Psalm 37:21 points out the moral dimension of borrowing: 'The wicked borroweth, and payeth not again: but the righteous sheweth mercy, and giveth.' A righteous person is marked by their commitment to honor their word and repay what is owed. By practicing biblical stewardship, working diligently, and being content with what God provides, the believer can find freedom from the snares of debt. The goal is to manage resources in such a way that one is able to be generous and ready for every good work, trusting in God as the ultimate provider.