Biblical Answer

Is Debt a Biblical Issue?

The Bible does not provide a clear-cut teaching on debt. However, it does emphasize the importance of living a life of financial responsibility and stewardship. Proverbs 22:7 states, "The rich rule over the poor, and the borrower is slave to the lender." This verse suggests that debt can lead to a loss of freedom and control over one's life. On the other hand, 2 Corinthians 9:8 says, "And God is able to bless you abundantly, so that in all things at all times, having all that you need, you will abound in every good work." This verse implies that God desires for His people to be free from financial burdens and able to live a life of generosity and abundance.

The Nature of Debt

According to financial adviser Larry Burkett, the scriptural definition of debt is the inability to meet obligations agreed upon. This definition highlights the importance of being responsible and accountable in our financial dealings. The Bible also teaches that debt can be a form of slavery, where one is bound to a lender and unable to break free. In Matthew 6:24, Jesus says, "No one can serve two masters. Either you will hate the one and love the other, or you will be devoted to the one and despise the other. You cannot serve both God and money." This verse emphasizes the need to prioritize our relationship with God above our financial obligations.

Living Debt-Free

While the Bible does not provide a clear-cut teaching on debt, it does emphasize the importance of living a life of financial responsibility and stewardship. By being mindful of our financial obligations and seeking to live within our means, we can avoid the pitfalls of debt and live a life of freedom and abundance. As the Bible says in Proverbs 21:20, "The wise store up choice food and olive oil, but the foolish devour themselves." By being wise stewards of our finances, we can store up wealth and live a life that honors God. Ultimately, the goal is to live a life that reflects our relationship with God, rather than being controlled by our financial obligations. As the Bible says in 1 Corinthians 6:20, "You were bought at a price. Therefore, honor God with your bodies." By living a life of financial responsibility and stewardship, we can honor God and live a life that reflects our relationship with Him.