A quick search on BibleGateway.com for the word “debt” reveals over twenty verses containing it. The word “loan”, another six, many in the old testament.
The concept of loaning and repaying money is nothing new. Credit Card companies simply took this ancient concept and made it all too convenient to borrow large sums of money for instant gratification. But in the Old Testament, debts among the Israelites were forgiven every seven years. (See Deuteronomy 15)
God did not want His people to live in the bondage of debt on a long term basis. Today, one can declare bankruptcy as a last resort to escape massive debt, but the consequences of this decision have a lasting effect on the debtor. And the years leading up to such an escape are likely filled with stress, endless bills, and phone calls from creditors. This is not what God desires for His children.
Let no debt remain outstanding, except the continuing debt to love one another, for he who loves his fellowman has fulfilled the law. Romans 13:7-9
So how do we keep this command?
Perhaps if I had learned sooner what the Bible teaches believers about finances, including debt, I would have avoided the credit card trap. But it was actually over three years after becoming a Christian until I investigated this important topic with my husband.
Don’t wait. The Bible is filled with detailed instructions for handling our money. Join me as we further explore this topic here on the Faith & Finance series.