Debt

Debt, owing something to another person, is a massive problem that cripples individuals, families, churches, and even nations. Paul tells us, “Owe nothing to anyone except to love one another; for he who loves his neighbor has fulfilled the law” (Rom. 13:8, NASB). There is a sense in which we owe one another love and respect, but when it comes to money, that is another story. Too many times people buy more than they can afford, and it comes back to cost them in more ways than they could have imagined.

The Bible says, “The rich rules over the poor, And the borrower becomes the lender’s slave” (Prov. 22:7, NASB). The message of Jesus is freedom, not slavery. When we are working too hard to cover our expenses or to buy things we don’t need and can’t afford, we are not able to love each other as we should. Jesus says, “No one can serve two masters; for either he will hate the one and love the other, or he will be devoted to one and despise the other. You cannot serve God and wealth” (Matt. 6:24, NASB). People lose time for worship, helping their local church thrive, meeting their neighbors, and even spending time with family because they are so wrapped up in trying to work harder and harder to pay bills.

The good news for those in debt is that God forgives their bad money decisions. The apostle John wrote, “If we confess our sins, he is faithful and just to forgive us our sins and to cleanse us from all unrighteousness” (1 John 1:9). The Bible also alludes to a little bit of counsel how to get out of debt. Jesus taught, “One who is faithful in a very little is also faithful in much, and one who is dishonest in a very little is also dishonest in much” (Luke 16:10, ESV). We may only have a little, but we can start being faithful to it now—not by incurring more debt. A good practice is to start by paying off the smallest debt owed and then using the money saved to roll over and pay the next highest debt. This practice, combined with living within your means, can help free you from financial slavery and give you more time to serve Jesus.