Is debt a curse or blessing?
Debts & loans are Blessings when managed prudently, but become a curse when used abruptly. Gone are the days when our fathers, grandfathers bought house & vehicles in cash. Money generally borrowed from relatives & friends, banking system & credit institutions were not so user friendly and reachable to masses.
What the Bible says about borrowing: Exodus 22:14 - If anything is borrowed, it should be paid back. If what is borrowed is lost or injured, full restitution must be made. Ps 37:21 - The wicked borrows but does not pay back, but the righteous is generous and gives.
Debt and debtor are used in a moral sense also as indicating the obligation of a righteous life which we owe to God. To fall short in righteous living is to become a debtor. For this reason we pray, "Forgive us our debts" (Matthew 6:12).
It is best not to owe any debt, which should be the goal and pursuit of every Christian. But, needing to borrow is not wrong. Christians who hear God's voice and have God's financial principles to guide them can make wise borrowing decisions.
It doesn't say that it's a sin to borrow
While the Bible offers many warnings about the dangers of debt, it never says that you are out of God's will or violating one of God's commandments when you borrow.
Similarly, in Deuteronomy 15, God says that every seven years, creditors should “remit the claim that is held against a neighbor” because “the Lord's remission has been proclaimed.” In the New Testament, Jesus instructs his followers to pray “forgive us our debts, as we also have forgiven our debtors” (Matthew 6:12, ...
Romans 13:8 (AMPC) tells us to Keep out of debt and owe no man anything, except to love one another... My husband, Dave, says that if we learn to live within our income, or our borders, then God will bless us.
You must pay your debts. As Christians, we must be true to our word, which means debts must be repaid. Debts are obligations and we cannot walk away from them. In fact, we must do our absolute best to pay them back according to the exact terms we established.
If we take God's Word seriously, we should avoid debt when we can, since “the borrower is servant to the lender” (Proverbs 22:7, NLT). And since Jesus tells us we cannot serve both God and money, we should ask ourselves, before undertaking any debt, How will this affect my capacity to give generously?
Debt is considered slavery.
Proverbs 22:7 reads: “The rich rules over the poor, and the borrower is slave to the lender.” When we are in debt, we're a servant to the lender. We don't have the freedom to decide where to spend our income because it is already obligated to meet these debts.
Should I tithe if I am in debt?
If you're in debt, tithing should still be a priority. Listen, I know it's tempting to throw that money at your debt, but the discipline and faith that tithing brings are so worth it. Even while you're paying down debt, you can still have an attitude of generosity.
Here are 7 things Jesus said on the subject of money, and what they mean for us today: 1. “Give to the one who asks you, and do not turn away from the one who wants to borrow from you” (Matthew 5:42). Most of us think that our giving and lending is a matter of personal preference.
You might say to God: “Heavenly Father, I lift this person up to you and put this situation in your hands. Please give me wisdom. Please bless this person financially so they will never feel the need to borrow in the future. Your ways are not our ways.
“The wicked borrow and do not repay, but the righteous give generously.” - Psalm 37:21. As Christians, we know that paying our debts is important.
Be cautious about bringing a church into debt.
Proverbs 22:26-27 says, “Don't be one of those who enter agreements, who put up security for loans. If you have nothing with which to pay, even your bed will be taken from under you.”
Proverbs 22:7 (ESV) says, “The rich rules over the poor, and the borrower is a slave to the lender.” Whenever we borrow money, whether via a credit card or some other means, we have certain obligations to the lender. We must repay what we borrow.
At the end of every seven years you must cancel debts. This is how it is to be done: Every creditor shall cancel the loan he has made to his fellow Israelite. He shall not require payment from his fellow Israelite or brother, because the LORD's time for canceling debts has been proclaimed.
Our Father who art in heaven, hallowed be thy name. Thy kingdom come, thy will be done, on earth as it is in heaven. Give us this day our daily bread; and forgive us our debts, as we forgive our debtors; and lead us not into temptation, but deliver us from evil.
Proverbs 22:26-27
26 Do not be one who shakes hands in pledge or puts up security for debts; 27 if you lack the means to pay, your very bed will be snatched from under you.
The Bible makes it clear that people are generally expected to pay their debts. Leviticus 25:39. No one will or should advance any argument against this general proposition.
Does God want us to be financially free?
Financial freedom means having enough to provide adequately for your household and to give generously and joyfully to God's work. God wants you to be financially free so you can put Him first in your life and be sensitive to His voice, ready to follow Him whenever -- and wherever -- He leads.
Listen, if you're knee-deep in a money crisis of your own, I'm here to tell you: God has your back! Trust me, I know it's tough to trust God when you have no money. And although we may feel blindsided or overwhelmed, God doesn't! He'll provide a way through to the other side.
In dealing with debt in our lives, Step 1 create a zero-based budget – live within your budget and don't become a slave through borrowing. With this don't co-sign on loans and when and if you do borrow make sure that you pay back what you owe.
Lord, thank You for helping me avoid shady shortcuts. As I plan, I'm asking for Your presence, leadership, and guidance so I can be led out from under this poverty. I commit this hard work to You and trust You will help me come out debt free. Father, in Jesus' name, I'm asking for Your strategies.
Romans 13:5-10 - NASB
Borrowing money is not a sin.” Instead, it is a sin to borrow and not pay back what is owed.
