Ask 100 people their thoughts on debt and you will find a common thread with most of them that is you need it in one way or another this day and age, debt is seen as a way of life irrespective of the consequences. As a Christian, it’s important to know what the bible says about debt, are there even bible verses about debt?

All scripture is given by inspiration of God and is profitable for doctrine, for reproof, for correction, for instruction in righteousness: 17 That the man of God may be perfect, thoroughly furnished unto all good works. 2Tim 3:16-17

Reading and studying bible verses about debt, It’s important to note that debt is one of those things in the bible that isn’t tied to morality i.e. right and wrong but talk to many Christians today and you will think it’s either right or wrong, let’s look at the biblical perspective with bible verses about debt

Table of Contents

What is debt?

Debt is something, usually, money, borrowed by one party from another for example mortgage, credit card debt, student loans, personal loan etc. That means you use money that isn’t yours with the condition that you will pay it back in the future usually with interest.

bible verse about debt

Current statistics on debt in the UK:

The Effect of Debt That Negates Biblical Principles 

I’ve noticed that being in debt can move a Christian to think and act in ways that go against biblical principles and teachings. Here are a few things to think about.

Debt Makes it Hard for You to be Generous.

God tells us to be generous, which isn’t news. However, being generous can be hard or even impossible if you have a lot of debt. How can you give if you can’t pay your debts?

The sooner you can pay off your debts, the sooner you can help others.

“Do not withhold good from those to whom it is due when it is in your power to do it.” Proverbs 3:27

“Give to the one who begs from you, and does not refuse the one who would borrow from you.” Matthew 5:42

“On the first day of every week, each of you is to put something aside and store it up, as he may prosper so that there will be no collecting when I come.” 1 Corinthians 16:2

Give, and it will be given to you. Good measure pressed down, shaken together, running over, will be put into your lap. For with the measure you use it will be measured back to you.” Luke 6:38 ESV

All day long he craves for more, but the righteous give without sparing. Proverbs 21:26 NIV

Debt Limits Your Ability to Provide.

It’s a running joke that being an adult is a scam because you have to take care of everyone and that’s called responsibility. You need to take care of yourself, maybe a family member, children etc. Personally I realised that without the weight of debt I had enough money for my family and goals.

“The prudent sees danger and hides himself, but the simple go on and suffer for it.” Proverbs 22:3

“But if anyone does not provide for his relatives, and especially for members of his household, he has denied the faith and is worse than an unbeliever.” 1 Timothy 5:8

bible verse about debt

What Does the Bible NOT say About Debt?

It is important to know what the Bible doesn’t say about debt. There are warnings about debt in the Bible, but debt was also used in the Bible. For example, Elijah told a woman to borrow pots, and the prophet borrowed an axe. So we know that debt is sometimes unavoidable, but you should know what the risks are.

Then what doesn’t the Bible say?

  • The Bible doesn’t say that going into debt is a sin.
  • The Bible doesn’t say that borrowing money is a wise idea.
  • The Bible doesn’t say that lending money is a sin.

What does the Bible say about debt?

If you want to know what the bible says about anything debt included it only makes sense to read it in context and not impose your opinion.  

Debt is a Form of Slavery

The Bible teaches that if you owe someone money, you are their slave. This makes sense since you can’t really say you are free if you owe someone money. Now, the question is whether you want freedom enough to pay off your debts.

Debt = slavery.

“The rich rules over the poor, and the borrower is a slave to the lender.” (Proverbs 22:7 NIV)

“Owe no one anything, except to love each other Romans 13:8

If You’re in Debt, God Wants You to Pay it Off

Many people who are in debt bury their heads in the sand in the hopes that the debt will go away. But the Bible doesn’t tell us to do that if we are in debt.

God wants us to do everything we can to pay off our debts, as Dave Ramsey says, “with gazelle intensity.” If we think this way, we’ll look for solutions like consolidation, restructure, etc., and ask groups like Christians Against Poverty (CAP) for help.

According to the holy bible, only the wicked person fails to pay back what they owe. Paying our debts as best you can honour God and the right thing to do.

Simple Rules for a Wealthy Life

The wicked borrow but doesn’t pay back,” says Psalm 37:21.

It’s Foolish to Put Yourself in a Surety Situation

The Bible doesn’t advise you to guarantee someone else’s debt, and it’s common sense that you shouldn’t. The Bible says you’ll be hurt if the person doesn’t pay, but if you think you have no choice, I suggest you assume the person won’t pay and put money aside for when that happens.

In Proverbs 11:15, it says, “Anyone who puts up security for a stranger will surely get hurt, but anyone who doesn’t like to shake hands in pledge is safe.”

12 Questions to ask to pay off debt fast

  • What are the numbers? How much do I owe, to whom, and what is the exact interest rate?
  • How much are my minimum debt payments, and how much can I afford to overpay?
  • What habits and mindsets brought you to this point?
  • Do I have any money set aside for unforeseen expenses in the future?
  • Which strategy should I use to pay off debt? Debt snowball or Debt avalanche
  • How do I keep track of my progress? What milestones do I celebrate?
  • How do I keep my why at the forefront of my mind?
  • Should I use balance transfer credit cards?
  • How can I boost my income to speed up the process?
  • Is debt consolidation something I should consider?
  • Who can I turn to for help?

Let no debt remain outstanding except the continuing debt to love on another.. Romans 13:8

If then you have not been faithful in the unrighteous wealth, who will entrust to you the true riches? Luke 16:11 ESV

These questions have been answered in depth in this blog post. Check it out

I’ve learned and continue to learn about debt because I have debt, as do many of my friends and family, which is why it’s important for me as a Christian to know what the Bible says about it. It’s not black and white, as we can see, but the Bible frowns on debt and warns of its dangers. A debt-free life should be the goal of every Christian.

Other Bible Verses About Debt and Money

A good man leaves an inheritance to his children’s children, but the sinner’s wealth is laid up for the righteous. Proverbs 13:22 ESV

Keep your life free from love of money, and be content with what you have, for he has said, “I will never leave you nor forsake you.” Hebrews 13:5 ESV

Take care lest there be an unworthy thought in your heart and you say, ‘The seventh year, the year of release is near,’ and your eye look grudgingly on your poor brother, and you give him nothing, and he cry to the Lord against you, and you be guilty of sin. Deuteronomy 15:9 ESV

Precious treasure and oil are in a wise man’s dwelling, but a foolish man devours it Proverbs 21:20 ESV

And God is able to make all grace abound to you so that always having all sufficiency in everything; you may have an abundance for every good deed; 2 Corinthians 9:8 

The Lord will open to you his good treasury, the heavens, to give the rain to your land in its season and to bless all the work of your hands. And you shall lend to many nations, but you shall not borrow. Deuteronomy 28:12 ESV

Other Biblical Wisdom

Therefore do not be anxious, saying, ‘What shall we eat?’ or ‘What shall we drink?’ or ‘What shall we wear?’ For the Gentiles seek after all these things, and your heavenly Father knows that you need them all. But seek first the kingdom of God and his righteousness, and all these things will be added to you. Matthew 6:31-33 ESV

A good name is to be chosen rather than great riches, and favour is better than silver or gold. Proverbs 22:1-29 ESV

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.” James 4:13-15 ESV

Further Reading

bible verses about debt