The Bible And Debt: Sin Or Not?

The Bible offers many warnings about the dangers of debt, but it never explicitly labels borrowing money as a sin. While it extols the virtue of not going into debt, it does not forbid it. The Bible also warns against lenders who abuse those bound to them in debt, but it does not condemn the debtor. The Bible makes it clear that people are generally expected to pay their debts, but this obligation must be balanced with compassion and the cancellation of debts at periodic intervals.

The Bible doesn't say borrowing is a sin

The Bible doesn't explicitly state that borrowing is a sin. In fact, there are several instances in the Bible where individuals borrow money or other resources without any suggestion of wrongdoing. For example, in the book of Genesis, we read about Joseph, who was sold into slavery by his brothers and eventually ended up in Egypt. While there, he borrowed money from the Pharaoh to buy food during a famine, saving countless lives in the process. This act of borrowing is portrayed positively, as Joseph used the resources wisely and for the benefit of others.

Another example can be found in the New Testament, where Jesus himself borrows a boat to teach a crowd from a distance (Luke 5:3). Here, borrowing is presented as a practical solution to a logistical challenge, allowing Jesus to effectively spread his message.

Additionally, the Bible contains numerous proverbs and parables that offer wisdom about borrowing and debt. For instance, Proverbs 22:7 states, "The rich rule over the poor, and the borrower is slave to the lender." While this verse acknowledges the potential pitfalls of borrowing, it does not condemn the act itself as sinful. Instead, it emphasizes the importance of wise financial stewardship and the need to avoid becoming enslaved to debt.

Furthermore, the Bible provides guidelines for responsible borrowing and lending practices. Leviticus 25:35-37 instructs lenders to extend interest-free loans to those in need and to refrain from exploiting them for personal gain. This demonstrates that while borrowing may carry risks, it can be done ethically and in a manner that upholds the dignity of all involved parties.

Ultimately, the Bible's silence on borrowing as a sin leaves room for Christians to make informed decisions about debt. It encourages believers to approach borrowing with caution, considering their ability to repay and the potential impact on their financial well-being. However, it also recognizes that there may be times when borrowing is necessary or advantageous, such as in emergencies or for investing in opportunities that align with one's values and long-term goals.

Lenders are admonished to be merciful

The Bible also highlights the importance of forgiving debts. Deuteronomy 15:1-2 states that "every creditor shall release what he has lent to his neighbor, his brother, because the Lord’s release has been proclaimed". This was to be done every seven years, and it applied to all debtors, regardless of their culpability. The Bible further emphasizes that debt cancellation can serve a higher purpose, such as preserving the family unit.

Additionally, the Bible prohibits lenders from charging interest on loans made to the poor. This is seen in Leviticus 25:35-38, where lenders are instructed to help those in need without expecting anything in return. This act of mercy reflects God's compassion and mercy towards His people.

Jesus also emphasized the importance of compassion and mercy in His teachings. He admonished the money changers and removed them from the Temple, demonstrating His commitment to these values. In Luke 6:34-35, Jesus encourages people to lend without expecting anything in return and to love their enemies, do good, and lend to those in need.

Overall, the Bible instructs lenders to be merciful and compassionate, prioritizing the welfare of others above economic concerns. This includes forgiving debts, lending without interest to the poor, and giving generously without grudging.

It is foolish to put yourself in a surety situation

While the Bible does not explicitly forbid debt, it does warn against it and encourages the virtue of not going into debt. The Bible also does not say that it is wise to borrow.

The Bible makes it clear that it is foolish to put yourself in a surety situation. Surety, in the context of finances, refers to pledging money, goods, or part payment for a greater obligation. It is taking on the obligation to pay later without a certain way to pay. In the Bible, we are warned against this in several verses, including Proverbs 11:15, which says, "Whoever puts up security for a stranger will surely suffer harm, but he who hates striking hands in pledge is secure."

The act of intervening or becoming a guarantor for someone else's debt is also illustrated in the Bible through the act of "striking the hands," or shaking hands (Job 17:3; Prov 6:1; 11:15; 17:18; 20:16; 22:26; 27:13). This act symbolizes the pledge or guarantee made by the surety to the creditor.

The Bible's warnings against surety are not prohibitions but rather principles that guide God's people toward wise financial decisions. By taking on surety, one is presuming upon the future and pledging their future in a way that may not be in line with God's will. This can be seen as a denial of faith, as it puts the lender in the place of God.

The consequences of violating this biblical principle can be severe, as illustrated in Proverbs 21:5: "The plans of the diligent lead surely to advantage, but everyone who is hasty comes surely to poverty." This is especially true in the purchase of homes and automobiles, where surety has driven the rise of these industries, requiring borrowers to pledge to pay regardless of future circumstances.

In summary, while the Bible does not explicitly forbid debt, it is clear that putting yourself in a surety situation is foolish. The Bible provides principles to guide us toward wise financial decisions and warns against the dangers of becoming a guarantor for another person's debt.

The Bible warns against making assumptions about the future

The Bible contains several passages that warn against making assumptions about the future, particularly in the context of financial decisions. One such passage is found in James 4:13-15, which states:

> Come now, you who say, 'Today or tomorrow we will go into such and such a town and spend a year there and trade and make a profit'— yet you do not know what tomorrow will bring. What is your life? For you are a mist that appears for a little time and then vanishes. Instead, you ought to say, 'If the Lord wills, we will live and do this or that.'"

This passage emphasizes the uncertainty of life and the importance of recognizing God's sovereignty in our plans. It serves as a reminder that humans cannot predict the future and that our plans may not always come to pass. By saying "if the Lord wills," we acknowledge God's ultimate control over our lives and submit to His will.

Another biblical principle related to this idea is the warning against putting ourselves into debt. While the Bible does not explicitly forbid all forms of debt, it contains strong warnings about the dangers of borrowing. Romans 13:8, for instance, encourages readers to "owe no one anything, except to love one another." This verse highlights the importance of financial responsibility and avoiding unnecessary obligations.

Additionally, the Bible emphasizes that borrowing can interfere with our trust in God's provision. Philippians 4:19 assures us that "my God will supply every need of yours according to his riches in glory in Christ Jesus." However, this does not mean that God promises to bail us out of debt. Instead, it serves as a reminder that God will meet our needs, but we should not rely on debt as a solution to our financial challenges.

Furthermore, the Bible warns that debt can lead to a form of slavery, where we become bound to our lenders. Proverbs 22:7 states, "The rich rule over the poor, and the borrower is the slave of the lender." This verse underscores the power dynamic that can arise when individuals or nations take on excessive debt, compromising their freedom and autonomy.

In conclusion, while the Bible does not explicitly condemn all debt, it provides important principles that caution against making assumptions about the future. It encourages us to recognize God's sovereignty, trust in His provision, and avoid the potential pitfalls of borrowing. By heeding these warnings, we can make more informed and faithful financial decisions.

Debt can deny God an opportunity to provide

The Bible does not explicitly state that debt is a sin, but it does warn against it and extols the virtue of not going into debt. Borrowing money can be seen as a denial of faith as it puts the lender in the place of God.

The Bible also warns against making assumptions about the future. For example, James 4:13-15 says:

> "Come now, you who say, 'Today or tomorrow we will go into such and such a town and spend a year there and trade and make a profit'— yet you do not know what tomorrow will bring. What is your life? For you are a mist that appears for a little time and then vanishes. Instead, you ought to say, 'If the Lord wills, we will live and do this or that.'"

By borrowing, we may be denying God the opportunity to provide and forcing ourselves to grow in our faith. The Lord has promised to supply all our needs (Philippians 4:19). However, this does not mean that He has promised to cancel the consequences of our unwise behaviour.

While the Bible does not forbid debt, it is clear that people are generally expected to pay their debts. Psalm 37:21 says, "The wicked borrows but does not pay back." This creates a moral obligation for believers to repay their creditors to the best of their ability.

In addition, the Bible provides guidance on lending money. Lenders are expected to charge a fair interest rate on borrowed money (Proverbs 28:8; Matthew 25:27). However, the Bible also teaches the importance of compassion and mercy towards those in debt, particularly the poor. Lenders are admonished to be merciful and to forego interest on loans to those in need (Exodus 22:25-27; Leviticus 25:35-37; Deuteronomy 23:19-20).

Overall, while debt is not explicitly condemned in the Bible, it is clear that it can be a complex and challenging issue. It is important for believers to carefully consider the guidance provided in the Bible and seek to honour God in their financial decisions.

Frequently asked questions