Posted by: Christian Accountant | October 8, 2010

God’s View on Debt

As a Tax Accountant by profession, I have a professional blog to help others understand personal and business finances and taxes. I recently posted an article called, “Get Out of Debt – Cut Up Those Credit Cards”. This gives you a very practical point of view on debt and what you should do…flee from it as fast as you can! Let’s look at the spiritual point of view and what God tells us in his word.

Proverbs 21:20 (NLT) The wise have wealth and luxury, but fools spend whatever they get.  God is telling us not to live beyond our means and spend everything we have. We should be wise and save. Spending using debt is much worse than living beyond your means…you aren’t just spending all you have, but you are also spending what you don’t have.

Proverbs 22:7 Just as the rich rule the poor, so the borrower is servant to the lender. His word is telling us that we are limiting our lives when we go into debt. We don’t literally become the bank’s slave. We are tied to the debt to the point that the debt makes our decisions, not us.

Proverbs 22:26-27 Do not co-sign another person’s note or put up a guarantee for someone else’s loan. If you can’t pay it, even your bed will be snatched from under you. God is instructing us to be wise with money. Being wise does not mean you help someone else go into debt. After all, the lender didn’t think they would be able to pay or they wouldn’t be requiring someone to be tied to the debt. If God doesn’t want you to go into debt, he doesn’t want you to help someone else go into debt either.

Deuteronomy 28:12 (NIV)You will lend to many nations but will borrow from none. God talks to us about the blessings he will give to us if we are obedient to him. God promises to give us an abundance and bless all the work that we do. We will be blessed with so much, that we will be able to lend to other nations, but we will never need to borrow from them. If we aren’t obedient to him, he tells us in later verses “the foreigners living amoung us will become stronger and we will become weaker”. He warns they will lend money to us; not us to them. “They will be the head and you the tail”. In this example, there is no doubt they become in charge of us, which means we are giving away our freedom when go into debt.

Doesn’t that tell you all you need to know? God does not want his people in debt. He wants to bless us abundantly, so we have what we need, and be able to give to the poor. Luke 6:38 “Give, and you will receive. Your gift will return to you in full–pressed down, shaken together to make room for more, running over, and poured into your lap. The amount you give will determine the amount you get back.”

If you are in debt, seek God’s help with your finances. God has called several Christians to teach anyone how to get out of debt and stay out of debt. Dave Ramsey was led by God to set up the “Financial Peace University” so anyone can learn what God taught him. Follow God’s word and get your finances in order. He will bless you!



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