Before you begin your journey to get out of debt, it is important to know what the Bible says about debt. You can then use these truths to build your faith since faith comes by hearing the word. Once you have a solid understanding of what God has to say about the issue, then you can boldly pray about your debt in faith.
What does the Bible say about Debt?
The borrower is slave to the lender. When you are in debt to another, you enter into a slave/master relationship with your creditor. (Proverbs 22:7)
God wants us to lend to others. Obviously, this is difficult if you don’t have anything to lend. (Deuteronomy 15:6, 28:12, Matthew 5:42)
We are required to pay back what we borrowed. It is easy to take this lightly, but if we borrowed it, we should pay it back. (Psalm 37:21, Ecclesiastes 5:4).
What the Bible does NOT say about debt
That it is a sin to be in debt. Like mentioned above, it is not God’s best for us, but the Bible does not say that it is a sin.
There are no instances in the Bible where God provides through a loan. He provided for His people in many ways but loans were not one of them. That is something to think about next time you get tempted to reach for the credit card. (added later: see the comments below regarding this. A reader pointed out an instance where it can be argued that God did encourage borrowing.)
Here are some more Bible verses about debt.
What are the Biblical promises about debt
The way I look at it, Jesus came to set us free from the bondage of sin. We were slaves to sin, until He set us free. If He wanted to set us free in one area, why would He want us to be slaves in another?
I also love Deuteronomy 28:12:
“The Lord will open for you His good storehouse, the heavens, to give rain to your land in its season and to bless all the work of your hand; and you shall lend to many nations, but you shall not borrow.”
This verse is one of the promises that I stand on when praying about my debt. The pre-requisite listed in Deuteronomy 28:1 is that we “diligently obey the Lord your God.”
God can NOT keep us out of debt
I believe God would love to see His children living debt-free lives. But, as stewards of the money that He has entrusted to us we have a free will to do what we wish with it. We can choose to give it, save it, spend it, or even spend more than we have.
I also believe that God will work on our behalf to help get us out of debt, but we have a big part to play – to stop spending more than we have! It doesn’t matter how much God provides – as long as we are spending more money than we have, we will always be in debt.
It’s bigger than us
As Christians we have the opportunity to use our finances to build God’s Kingdom. Every decision we make with our money may be much larger than we realize.
Speaking for myself, I know it is easy to get caught up in trying to store up treasures on earth, when I know I should be storing them up in heaven. Every time I do, I get a gentle nudge back on to the narrow path that I am so thankful for. Storing up treasures in heaven is the way to live!
this post was included in the carnival of debt reduction
{ 33 comments… read them below or add one }
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Thank you,
God Bless!
Thanks for a thought-provoking post. I don’t really like thinking of myself as a slave to the bank! Anyway, have you considered writing one one what the Bible says about lending? I believe there are a few verses about not expecting to get our money back and about not loaning at interest. I sometimes wonder if it is wrong to be investing for those reasons — but then the parable of the talents seems to suggest that investing wisely expected of us.
@Shannon
I am with you – banks are getting way too much of our money that needs to be used for Kingdom purposes… As far as writing a post about lending, I probably will write something. I know that there is some disagreement about charging interest on loans – so maybe we can get some responses from the readers about it…
But for now I do have a hefty list of scriptures about lending on the Money in the Bible page
Good post! I agree with your comments above. I have been struggling with the idea of “good” debt as opposed to bad debt. I actually just posted on this myself on a Christian blog site I contribute to (http://prominentthought.blogspot.com/2008/07/good-debt-bad-debt.html). I’d be curious to get your thoughts on the issue if you wouldn’t mind.
I feel like the reason God doesn’t want us to be in debt is to be free to use what he gives us to benefit his kingdom. If debt can be used as a tool to create more income (“good debt”) and help us to reach the point where we can not only be debt free but never have to work a job again would that be an “ok” time to go in debt? Then you could not only give your extra income towards ministry but you could volunteer in the community full time. This would of course be predicated by the fact that your bad debt is paid off and you can comfortably afford to take on the payments for the “good debt” and hopefully pay that off quickly as well.
@Amy
I checked out your article and was going to leave you a comment on your site, but I don’t think comments were turned on… Anyway, I am with you – still trying to find the Biblical truth to the question…
My thoughts on it: I agree with you completely mathematically, it makes sense and is logical and I have read a ton of authors who explain how they make their money with OPM (other people’s money).
The thing I keep coming back to is that often God’s ways don’t make sense in our minds. Think about giving – it doesn’t make sense that if you give you will have more. But it is a principle that I found to be true over and over in my life. Prayer – talking to someone who you have never seen or heard before (sounds crazy doesn’t it
). You know, there are so many other biblical principles that work the same way – requiring Faith rather than our understanding.
So, this is where I have landed on the whole debt issue. No, it isn’t a sin, but I would love to never have to take out another loan as long as I live. I guess you can call it a step of faith if you want to.
Amy, I would love to hear how this resonates with you…
“There are no instances in the Bible where God provides through a loan.”
YES THERE IS!
II Kings 4:1-7 tells the story of the impoverished widow was on the verge of losing her sons because of the debt of her late husband. In verse 3, the prophet Elisha told her “Go, borrow vessels from everywhere, from all your neighbors—empty vessels; do not gather just a few.” God then proceeded to use the vessels to supernaturally provide the funds to redeem her sons from slavery and to provide for the needs of her household.
In fact, the size of this miracle was limited to how many vessels the widow could borrow!
Also, God’ provision was for a lot more than settling her debt. Our God is a God of more than enough.
Note also that God used what the widow already had. We are not limited from God’s blessing based on what we DO NOT have.
While the Bible generally does not encourage debt, this passage does indicate that there are instances in which it is appropriate — and even encouraged!
Yes she borrowed but it was nonperishable and nonconsummable. My point is, that wasn’t debt. They could have gotten the pot at anytime and she would not have been homeless(like a mortgage) or stigmatized(credit card debt). What the prophet asked didnt have the potential to enslave her in anyway. So it was merely at test of faith creating how much action or effort to get results. Larry was right. God Bless
Denise,
I agree with your comment. The widow was borrowing pots, not money. The pots were going to be filled by God in measure to her faith which was displayed by how willing she was to ask for pots to borrow.
At first glance it seems like this is God telling the widow to borrow, but I don’t believe it is in the same motivation as what this article is discussing, primarily financial borrowing and being slave to it. This was a test of faith rather than a license to borrow beyond her means.
@CoolHappy
I was making that statement based off of something Larry Burkett said – I will quote him from now on! 
You are right! I stand corrected… I have read that passage enough that I should have remembered it, but didn’t
Thanks for pointing that out and while I think we are in agreement about Debt, it is good to keep this in mind…
@bob
Thanks for your comments! The blog owner has comments turned off. I was just asked to do a guest post on there this week. Anyway, I also agree with that you said. God does work in mysterious ways. It never ceases to AMAZE me how God comes through for us and I’m pretty sure it’s because of tithing. It really does come back to you many times over and besides that it’s fun to do.
My husband and I are still trying to work our way out of debt right now so we’re in no position to try to use other people’s money to make more money. I still don’t know that I’d rule it out in the future though. God tends to do things that surprise me usually and he’s not without a sense of humor. I think for now I’ll just ponder it in my heart and see if He answers in His own time. I will do some hard praying before getting into debt again though, after working so hard to get out in the first place.
This is a great post. Thank you for pointing out what the Word of God says. Many people just don’t know what God’s Word says because they don’t engage in it themselves.
Principles like freedom and debt are plainly displayed in his Word for all to see.
Thanks for putting all these scriptures together.
After thinking it over, I realized that I might have left the wrong impression in my previous post. I did not intend to imply that entering into debt is necessarily sanctioned by the Lord.
Yes, there was an instance in which the Lord used debt as an instrument in His miraculous deliverance. However, we should reflect:
-This was an EXTREME case: Essentially, the widow was going to lose her sons.
-The widow sought the Lord in her circumstances. She pleaded with prophet, the mouthpiece of the Lord.
-The debt of her spendthrift late husband got her into this mess presumably with no provision to escape (a Biblical endorsement of life insurance?)
-The Lord provided the means to pay off the debt. At any point, she could return the jars. More important, the benefit from the borrowed items (jars) was a source of ongoing income.
-The debt was for a long-term benefit. No spontaneous purchase here.
-This is one of the few (only?) POSITIVE references to borrowing.
-The bulk of scripture exhorts a very sober and deliberate use of debt.
Yes, the Lord used debt as a means for this woman’s deliverance. However, I would submit that He preferred that her late husband would have exercised wisdom in his lifetime so that she would not find herself in this mess in the first place! (see Proverbs 30:25, 1 Timothy 5:8, et al.)
@CoolHappy
Ummmm…. no. I’m not buyin’ that.
II Kings 4:7
“Go, sell the oil and pay your debts. You and your sons can live on what is left.”
She was told to collect empty VESSELS. JARS. Not money. She was then told to fill the jars with oil that she had and sell it. She did not solve her problem via a loan. Ever borrowed a cup of sugar from a neighbor?
Great post!
The bible is a pretty neat “playbook” for life. So many people ignore their debts and in the end hurts all humanity.
According to Strong’s the word borrow here in this verse is “to ask”
not “go into debt”
Thanks for the article on debt. This is a great site that I just happened upon recently.
As for me, I managed to get completley out of debt 2 years ago when I paid off the house (at 49 yrs of age). And that in less than half the loan period of 25 years.
I was challenged many years ago by a Christian brother that the Lord wanted us debt free and so I worked at it. Every pay rise, tax cut or other money fall would go into the loan.
I had no other debts, drove old cars, fixed them myself and also anything that had to be done on the house I did myself where possible.
Never took out any other loans and had only a debit card. I encouraged my children to finance their own tertiary education, which they have done very successfully (my son finished a full time science degree debt free by working at Hungry Jacks part time using the same principles we have taught him).
I have a family with 5 children and my wife has never worked since we were married. We have always gone on holidays, we bought an old boat and restored it along with other hobby things, and I have never worked overtime, wanting to be home for my family as much as possible.
What you say about giving is so right. I started tithing on my net income 25 years ago, then 2 years later was challenged to tithe on my gross income, then was challenged to give extra offerings. Even before the house was paid off I was giving a fair bit more than the gross tithe and God just seemed to keep providing. My mother always wondered where the money was coming from.
I have just an average paid job so its not like I have a massive income.
What you have challenged me in though is to give more now that I am debt free.
As you said God wants us out of debt for Him, not for us, even though we reap the benefits as well.
So I will be prayerfully considering what extra to be giving and where.
This site is very enriching for the soul! In times like this where people are so busy doing and thinking worldly things, not knowing what their real purpose are, it’s good to know that there are sites like this that spread the Word of God in this world of modern technology.
I like the post The Bible and Debt. It’s really true that the big part is on us for us to be debt-free.
I also liked the Bible verses about debt and lending. For someone like me who has so much debt, and also has a lot of debtors, the verses are very helpful. The Scriptures that I can relate very well to are Ecclesiastes 5:5 “It is better that you should not vow than that you should vow and not pay”,
Proverbs 22:26-27
“Do not be a man who strikes hands in pledge or puts up security for debts; if you lack the means to pay, your very bed will be snatched from under you”,
Exodus 22:25
“If you lend money to My people, to the poor among you, you are not to act as a creditor to him; you shall not charge him interest.”,
Matthew 5:42
“Give to him who asks of you, and do not turn away from him who wants to borrow from you”‘ and
Luke 6:35
“But love your enemies, and do good, and lend, expecting nothing in return; and your reward will be great, and you will be sons of the Most High; for He Himself is kind to ungrateful and evil men”
If only people have lived up to these verses, then there would be lesser problems in this world.
Thanks for a great post- and basing it all directly from Scripture!
This is a great post Bob. God’s word should be the first place we turn for any advice, financial or otherwise
Dear Readers
. I also love the scripture “Cast your bread upon the waters, for after many days you will find it again.” Ecclesiastes 11:1
This is such an amazing site! I found it a couple of months ago and have been blessed and encouraged by the comments and posts. I am on my way to debt freedom one day at a time. I am a tither and a big giver. I do understand and believe the principal of “give and it shall be given unto you, pressed down, shaken together and running over”. I am a somewhat single parent of 4 children, I work full time and don’t make very much at all. I had gotten into a really bad financial mess when my husband and I separated. We lost our house and had other bills that have gone waaaay behind as well. Now I am facing legal issues regarding these past due bills. I am not saying that I don’t need to own up for my past inabilities to pay my debts but I am just asking you all to stand in faith with me that God’s will be done regarding the outcome.
My hats off to Anthony who talked about paying off his debts at the age of 49!!! That is Phenomenal! I will try and match that somehow with what I already owe
I will end with this: God has not given me a spirit of fear, but of power and love and a sound mind. I will no longer be a slave to the creditor but instead be the one who lends the biblical way. If the world took every thing the word says about borrowing and lending, we would be in a better position. Sorry it was so long! Be blessed
It sounds to me that most of us agree that personal debt should be minimalized so as to free us up to do more for God in areas where financial concerns would normally hinder us. Examples are charitable giving and philanthropy. However, I hear little discussion on capitalistic expansion through secured debt. Woo, that sounds scary but I’ve been self-employed for over 20 years and have built several businesses that ultimately helped countless people. I could not have done it without credit much the same as the ancient farmers who had to somehow get the seed for that very first crop. It’s the chicken and the egg. Where did the farmer get the money to buy the first seed? Chances are someone gave him credit. I believe that the proper use of credit in a society based upon freedom and Christ was part of God’s plan to propel mankind from the dark ages into our current age of enlightenment and progress. Of course, Satan is attacking every aspect of that plan and Christians must now be stronger than ever.
Having been on both sides of the issue, deeply in debt and debt free I can honestly say it is my opinion that God wants us to live our lives debt free. In debt, even making good money, we never had anything, were always stressed, arguing despite an otherwise great marriage, wanted to give more but didn’t have more to give, had to live with the worry of getting laid off. Now, after much hard work and sacrifice we are debt free & loving it. No stress, no arguing, we get to give more than ever before, and if I get laid off, big deal I don’t owe a man on this Earth. You don’t HAVE to have credit for anything. We haven’t borrowed a dime in 10 years and our credit scores are zero. Debt free for the win baby!
I am glad to have recieved wonderful advise, assurance and a hope that i will be debt freee soon. I would request you guys to pray for me that i make wise decisions and handle God given money correctly…thanks again.
Thank you for sharing your light on this topic concerning debt. I have read some of the comments as well and love that other entered. Some I somewhat disagree with, but they are their thoughts on the matter. I was taught from a child, “as long as there was something to eat on the table, that was all you needed”. We were not allowed to touch the Bible much less read it. Thank God for salvation! I know it is NOT GOD WILL we be in debt, except in loving one another, and keep His Word. Romans 13:8 “Owe no man anything”, is always in my mind. If we learn to “Prepare to Buy, before we Buy”. I firmly believe the idea of “I must have it now” is a spirit or demon from Satan himself. It has enslaved so many Christians, to the point, they are unable to keep vows, help one another, or do the things that would security their freedom in Christ. Debt has a power that draws the mind away from “connected prayer”; it disable your contact with God; you become unable focus in prayer, praise,or worship. Debt is not a gift from God! I am progressing toward becoming debt-free; each month that past, it is like a burden has been lifted from my family and I. I am fully convinced that this is the Will of God for His People.
Blessings
@COOL HAPPY, I think someone else pointed out. The women did not have to pay for the vessels or at least we can not say if she did. She did not Owe.
Bob & Amy,
To me the biblical debt about good debt vs. bad debt is trust in God. You must trust in God to provide. If try to use debt to increase God’s provision it is not acceptable debt. You are trusting another Master to provide for your. If you use debt to to replace a provision or to increase your earnings it does become your master. If the debt leaves you with less money the next month. I will give what I feel is acceptable debt.
Financing a house where the interest payment is = rent. I have never felt a slave for my mortgage as it just replaces rent.
Financing a car so you can get to work. If you loose your income you will be in trouble.
Buying a car where you save the payment in gas.
Bad debt
Mortgage interest > rent. New Corvette.
If your level of contentment does not change the debt is acceptable. If you are using debt out of ill content for God’s provision it is probalbe wrong.
It is true that God will provide but not through a loan. We are the ones to make debts and find it difficult to pay back. But when we realize our situation, causes and pitfalls and pray to God He surely hears and delivers us from this burden. God knows how to pay our bills and He allows some situations in our lives to teach us many things out of it. may be one can be in dear need of money for a good cause and have no way except to take a loan. he will not despise us for that. In fact He loves us so much that when we cry to Him He responds and make a way for us.Its bcoz God sees through our hearts and intention in there.
I’ve noticed that many people have spoken about God not providing through a loan. Well, what would you say about my situation?
I’m a consultant, and though I billed on time and did all the paperwork to get my payment on time, I found out that the agency “lost” the paperwork and essentially my contractor had to resubmit my claim for processing. My husband is also a consultant and hasn’t been able to make any claims for some of the jobs he has based on the stage that they’re at.
So, how do you go to the supermarket and pay your bills when you don’t have any money? My in-laws, who are believers (God bless them) gives us loans. Not one or two, but several. Considering that the scripture talks about the fact that God wants us to lend, wouldn’t it imply that there would be persons to lend to? Consequently, couldn’t it be argued that God provides through loans?
I’ll let someone else speak to the first question. But I do know that Proverbs 21:20 speaks to having savings for just such an occasion.
On the business side, my man Dave Ramsey says that when you have a collections problem you actually have a billing problem. Look him up on it.
Be careful not to try to justify your mistakes rather than learning from them.
Scott, I’ve been reading Dave and have been learning what he says about how to get your finances in order. The fact that we haven’t been prudent financially isn’t in question. We haven’t been and we’re in the process of changing.
I don’t agree that I’m “justifying my mistakes”. Though Dave talks about a billing problem, it can’t be just that. As I explained, I did everything on time and in the right order but later found out that the bureaucracy of the institution and the fact that they claimed that they didn’t get the paperwork, which isn’t true, is what is causing the delay.
Let’s not jump the gun to think that we are in control of EVERYTHING that happens with our money. Though we are in control of what we do with our income, there are factors that affect the actually “coming in” of the income that we’re working for. This is especially true if you are self-employed.
I stand by what I said. Just the words of a debt free, self-employed guy. You make it sound as if there is no way to eat other than loans from your in-laws. That’s something that no one here can debate because we don’t know your lifestyle, whether or not you have ridiculous car payments, etc…
I was only pointing out that it is human nature to immediately jump into the blame game/excuse game, rather than looking deeper. I’m guilty of this myself, being human and all.
I do know that as a business man if I was in a tight spot and someone lost paperwork that was essential to me being paid I would go sit in person with the owner of the business and explain to him that this was putting me in a bind and making his business look bad.
This could also be a learning experience of who not to do business with. We had to make the decision not to do business with certain partners unless they paid up front.
Scott, I guess we have to agree to disagree. You’re right, you don’t know the entire situation. I don’t even live and work in the United States (which is where I assume you live and work) and, unlike the assumption you’ve made, I’m not dealing with a small business man who I can sit and talk to. I’m dealing with an institution.
Again, I don’t disagree that there isn’t a personal factor in terms of how I deal with my finances and I admitted that in my previous post. But I guess in my reality, there are other factors that put limits on what I can control. Maybe in your situation you’re totally in control (even of the business man who you’d talk to) and I guess that’s the crux of the matter.
Bob, I’m soooo impressed by your comments & Christian PF in general. I stumbled onto you researching for a money management class with a focus on DEBT. Your words are so right on and I plan to devour your other articles. Thank you so much for “being here”.
May I have your permission to use some of your thoughts; i.e.; “God can NOT keep us out of debt.
“I believe God would love to see His children living debt-free lives. But, as stewards of the money that He has entrusted to us we have a free will to do what we wish with it. We can choose to give it, save it, spend it, or even spend more than we have.
“I also believe that God will work on our behalf to help get us out of debt, but we have a big part to play – to stop spending more than we have! It doesn’t matter how much God provides – as long as we are spending more money than we have, we will always be in debt.”
Thank you again for my “start” in developing a class for my church in Bellingham, WA.
Many Blessings,
Steve
Steve,
Enjoyed reading your post & agree! I recently was able to get out of debt & improve my financial situation with God’s help!
Would love to hear from you.
David
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