Biblical Answer

The Biblical Perspective on Debt

The Bible does not entirely outlaw debt, but it does emphasize the importance of being responsible and managing our finances wisely. According to Larry Burkett, a financial adviser, the scriptural definition of debt is the inability to meet obligations agreed upon. This means that taking on debt can be a good thing if we are able to meet our financial obligations, but it can become a problem if we are unable to pay it back.

The Point of Living Beyond Debt

The question of what is the point of living if we're in debt is a complex one. On the one hand, debt can be a source of stress and anxiety, and it can prevent us from living life to the fullest. On the other hand, the Bible teaches us that our worth and identity come from God, not from our financial situation. As the Psalmist writes, "You are my God, and I will give thanks to you; you are my God, I will exalt you. My times are in your hands; rescue me from the hand of my enemies and from those who persecute me" (Psalm 38:6-7). This verse reminds us that our lives are not defined by our financial situation, but by our relationship with God.

A New Perspective on Debt

The Bible also teaches us that debt is not just a financial issue, but a spiritual one. When we fail to manage our finances wisely, we can become enslaved to the love of money. As the Apostle Paul writes, "For the love of money is a root of all kinds of evil" (1 Timothy 6:10). However, when we prioritize our relationship with God and live within our means, we can experience freedom and peace. As the Psalmist writes, "You will never leave me or forsake me" (Psalm 23:4). This verse reminds us that God is always with us, and that we can trust Him to provide for our needs. By living a life of financial responsibility and prioritizing our relationship with God, we can experience the freedom and peace that comes from living beyond debt.