Quick Answer: What does the Bible say about debt?

Is it a sin to have debt?

The Bible specifically says that the “love” of money is evil. If we put money above God in any way, our relationship with money is unhealthy. … In fact, the Bible never states that you should not use debt. It does state however many times, that you should use extreme caution when doing so.

What does the Bible say about paying back loans?

The Apostle Paul wrote in Romans 13:8, “Pay all your debts except the debt of love for others— never finish paying that!” (TLB). Clearly, you should borrow only if you have a well-considered repayment plan, regardless of whether the loan is for college or some other purpose.

How do Christians deal with debt?

10 Steps to Getting Out of Debt – The Christian Way

  1. Pray. …
  2. Establish a written budget. …
  3. List all your possessions. …
  4. List all your liabilities. …
  5. Create a debt repayment schedule for each creditor. …
  6. Consider earning additional income. …
  7. Accumulate no new debt! …
  8. Be content with what you have.

What does God say about debt in the Bible?

The Bible makes it clear that people are generally expected to pay their debts. Leviticus 25:39. No one will or should advance any argument against this general proposition.

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What does the Bible say about debt relief?

At the end of every seven years you shall grant a release of debts. And this is the form of the release: Every creditor who has lent anything to his neighbor shall release it; he shall not require it of his neighbor or his brother, because it is called the Lord’s release.

What did Jesus say about finances?

Jesus Basically Said We Should Budget Our Money.

This is not a predicament God wants his children to be in. This is why it is really important to be financially responsible to plan your purchases and endeavors. God really does want the best for us.

What does the Bible say about loans and interest?

Bible. The Old Testament “condemns the practice of charging interest on a poor person because a loan should be an act of compassion and taking care of one’s neighbor“; it teaches that “making a profit off a loan from a poor person is exploiting that person (Exodus 22:25–27).”