...a 3-week look at how money matters in our relationship with God, July 20-August 3. Email us your questions. We'll post answers to the frequently asked ones right here in the coming weeks.
Wednesday, July 30, 2008
QUESTION: Is it Biblical to have any type of debt?
The bible does not take a wholesale stance against debt, but instead teaches us to use wise and merciful financial practices.
In lending, we are instructed to not take advantage of people in need with an excessive burden of interest. [Exodus 22:25-27, Leviticus 25:35-38, Deuteronomy 15:7-8]
In borrowing, we should employ wisdom in avoiding situations where we are slave to our debt [Proverbs 22:7]. Entering into debt that compromises our freedom to tithe and give generously can become a barrier to us placing our heart’s affections first and foremost in God for our contentment (Hebrews 13:5-6, Philippians 4:10) and treasure (Matthew 6:19-21). Deuteronomy 14:22 describes that the purpose of our giving is for us to learn to fear the Lord by teaching us to give God the right place in our hearts. On a practical level, the burden of unwise borrowing also limits our freedom to make radical life decisions to follow God wherever he is leading us to go.
In repayment, God shows us that paying our debts in their entirety and in a timely fashion is honoring to Him and is a way to show our love for our neighbor [Romans 13:7-8].
In lending, we are instructed to not take advantage of people in need with an excessive burden of interest. [Exodus 22:25-27, Leviticus 25:35-38, Deuteronomy 15:7-8]
In borrowing, we should employ wisdom in avoiding situations where we are slave to our debt [Proverbs 22:7]. Entering into debt that compromises our freedom to tithe and give generously can become a barrier to us placing our heart’s affections first and foremost in God for our contentment (Hebrews 13:5-6, Philippians 4:10) and treasure (Matthew 6:19-21). Deuteronomy 14:22 describes that the purpose of our giving is for us to learn to fear the Lord by teaching us to give God the right place in our hearts. On a practical level, the burden of unwise borrowing also limits our freedom to make radical life decisions to follow God wherever he is leading us to go.
In repayment, God shows us that paying our debts in their entirety and in a timely fashion is honoring to Him and is a way to show our love for our neighbor [Romans 13:7-8].