What doo Bible verses on debt teach us? What does the bible say about borrowing money? Read or listen to this chapter from Your Finances God’s Way to learn the scriptures on owing money.

Table of Contents for How Does God View Debt?What Does the Bible Say About Debt?What Does the Law Teach?What Does Wisdom Literature Teach?Even Churches Can Be WrongDebt Is Your Enemy Versus Your FriendOur National DebtBiting the BulletSacrificing Our Children's Future for Our PresentThe Bible's CondemnationHow Much Debt Do We Individually Have?Credit Card DebtStudent Loan DebtAutomobile DebtWhat About Mortgages?Trust God to Help You

A man came home with a fancy new car. His wife asked, “Why did you buy that? We can’t afford a new car, and there was nothing wrong with our old car.”

The man answered, “Our old car needed a new battery.”

His wife replied, “Then why didn’t you just buy a new battery?”

The man said, “Well, I was faced with a choice. A new battery cost $100 and a new car cost $25,000, and they wanted me to buy the battery with cash.”

Many people can relate to this man. We think debt is a blessing because it allows us to buy things with money we don’t have. Read on to learn how God views debt.

Just to let you know ahead of time, you might have more trouble with this chapter than any other in this book. Is it because avoiding debt is more difficult than obeying the other teachings in the book? No, not at all. In fact, giving is probably more difficult for many people than avoiding debt.

You might have more trouble with this chapter because the principles in it are so contrary to the world’s approach to money. For example, if I tell you it is important to give, save, and plan for retirement, you can find plenty of non-Christians who agree. But if I tell you to avoid debt, you can find plenty of financial advisors who will disagree and tell you that not only is debt acceptable, it is necessary and beneficial.

I will be the first to say that we should consider the counsel of financial advisors. When I do counseling, I have recommended people visit them. But let me ask you this before we go any further: Whose counsel should we value the most? Whose instruction should trump all others? God’s!

The question is not “What makes the most sense financially?” or “What do financial advisors recommend?” The question is, “What does God want?” Your Finances God’s Way received its title because it is about managing finances the way God wants, and the Bible tells us how to do things God’s way. Walking by faith means obeying God when it doesn’t appear to make sense or goes against the counsel of others. As Peter said, “We ought to obey God rather than men” (Acts 5:29). So what does God say about debt?

What Does the Bible Say About Debt?

To learn the Bible’s teaching on debt, we must understand the difference between law and wisdom literature. The law (think Leviticus) contains commands forbidding sin, while wisdom (think Proverbs) contains principles that help us navigate through life. Let’s consider what the law and then wisdom literature have to say about debt.

What Does the Law Teach?

The law does not condemn lending and borrowing. Instead, it condemns usury (exorbitant interest) and promotes generosity:

“If you lend money to any of my people with you who is poor, you shall not be like a moneylender to him, and you shall not exact interest from him” (Exodus 22:25 ESV).

“If one of your brethren becomes poor, and falls into poverty among you, then you shall help him, like a stranger or a sojourner, that he may live with you. Take no usury or interest from him; but fear your God, that your brother may live with you (Leviticus 25:35-36).

“At the end of every seven years you shall grant a release…every creditor shall release what he has lent to his neighbor” (Deuteronomy 15:1-2 ESV).

The point to notice is debt is not a sin because the law does not forbid it.