Sometimes, we can't help it. We are in need to buy something that we can't afford in cash, so we use a credit card or take out a loan. But, have you ever asked yourself if God approves of your debt? What does the Bible say about debt?
Christians should avoid debt if possible
Talking about debt is a tricky matter. This is because it is important to look at the motives behind borrowing money before one can tell if it's the right decision or not. In the Bible, it is preferred that you do not incur debt as much as possible.
One example is when you borrow from a relative or a friend. You may not notice it, but this creates a wall within the relationship or friendship. Your relative or friend will expect you to pay it back, and when you don't, this will instantly cause a rift between the both of you. Further, this can change the dynamics of the relationship. What used to be a relationship bounded by genuine love and care can turn into a debt-lender relationship. Proverbs 22:7 says, "The rich rule over the poor, and the borrower is slave to the lender."
Debt can be one step closer to greed
As mentioned earlier, it is important to look at the motives of a person who is taking out a loan or borrowing money. What if a mother has to take out a loan to start a business that will provide for her family? What if a student needs to take out a student loan for his/her education? Aren't these good reasons to be in debt? Possibly.
What God doesn't want to happen is that we want to buy something out of sheer want and not need. We want to buy the new iPhoneX, so we borrow money from someone else. Obviously, this is a very wrong reason to be in debt. This act makes you greedy. You covet what other people have, even if you don't have the means. Luke 12:15 says, "And he said unto them, Take heed, and beware of covetousness: for a man's life consisteth not in the abundance of the things which he possesseth."
Debt is not evil
No, it's not a sin to have debt, nor is it evil for doing so. But as Christians, you always need to look deep into your heart and assess if having a debt is something that the Lord approves of. It is God's will? Or will it make your financial life harder simply because you wanted something? When we're talking about money, greed is always the subject. It is important that you draw the line between buying what you need and buying because you just have to have it all – that's when it becomes a sin.
The need for money cannot be dismissed. We need it to survive and to live comfortably. That's not wrong in itself. However, as Christians, you must also put all your trust in the Lord when it comes to your finances. God will always provide, but sometimes, He doesn't provide in ways you expected. Nonetheless, if your eyes are wide open, you'll see that He has given you a whole lot more. So the next time you need to borrow money for something, pray for it and look into your heart. If you believe you need it, having a debt should be fine, as long as you can pay it back.
