Biblical Answer

The Biblical Perspective on Debt

The Bible does not outlaw all debt, but rather addresses the issue of debt in the context of financial responsibility and the principles of loving one's neighbor. According to financial adviser Larry Burkett, the scriptural definition of debt is the inability to meet obligations agreed upon. In other words, debt is not inherently evil, but rather a symptom of a larger issue of financial irresponsibility.

The Call to Forgiveness and Letting Go

The Bible teaches that we are to forgive those who have wronged us, including those who have taken advantage of us financially. In the context of debt, this means that we are to let go of our desire for revenge or repayment, and instead choose to forgive and move forward. As the Apostle Paul writes, "I will repay it... to say nothing of your owing me even your own self" (Romans 11:9). This is not to say that we should ignore our financial responsibilities or avoid paying our debts, but rather that we should approach debt with a spirit of forgiveness and generosity, rather than resentment and bitterness.

Taking Responsibility and Moving Forward

Ultimately, the key to managing debt is to take responsibility for our financial decisions and to make changes in our behavior. This may involve making sacrifices and adjustments to our lifestyle, such as cutting back on unnecessary expenses or finding ways to increase our income. As the Bible teaches, "Render all due obedience to the civil authorities... Let your one continuing debt be the debt of love" (Romans 13:1-8). By choosing to live with a spirit of love and generosity, rather than resentment and bitterness, we can break free from the cycle of debt and live a more fulfilling and responsible life.