What does the Bible say about borrowing money? As I write, I notice the gloomy economic forecast everywhere. The news is filled with stories of financial hardships and high prices. In this economy, money is needed, and many are borrowing. This makes me wonder: What does the Bible say about borrowing money? A trip to the grocery store confirms these fears as prices rise. Ignoring the worry and anxiety is hard, as money is essential for survival. We want to be wise with it.
But amidst this economic turmoil, I’ve found solace in an unexpected place – God’s Word.
Although I am often tempted to stress out over money.
But stress doesn’t help; it’s like trying to calm a dog by tossing it a firecracker! Money stress is everywhere! On the news, morning shows – just everywhere.
Turning to the scriptures has revealed a treasure trove of biblical principles that offer a refreshing perspective on our financial well-being, not to mention some truly good news!
You see, instead of succumbing to stress and worry, Girl, God wants us to place our trust in Him – a divine reminder that might just change the way we approach our finances.
So, let’s delve into God’s wisdom and ask ourselves, “What does the Bible say about borrowing money?”
Brace yourself because the answers might just revolutionize the way we navigate this ever-changing financial landscape.
Table of Contents for
“What does the Bible say about borrowing money?”
Let’s hit it!
What does the Bible say about borrowing money?
First and foremost, the Bible says to render your tithes. I know it can seem hard to do, but you don’t have a choice if you want to fix your finances.
First and foremost, the Bible says to pay your tithes. I know it can seem hard to do, but you don’t have a choice if you want to fix your finances.
The Bible offers wisdom on borrowing money that emphasizes caution and responsibility.
In Proverbs 22:7, it states, “The rich rules over the poor, and the borrower is the slave of the lender.” You’ll notice that as I explore this question of what does the Bible say about finances, I’ll refer to Proverbs 22 often.
Can you see how the verse highlights the potential consequences of debt?
It illustrates how indebtedness can limit our freedom and autonomy.
That’s a fancy word for freedom.
The Bible encourages us to approach borrowing with careful consideration, understanding the implications it may have on our lives and our relationships.
Scripture about borrowing money
One of the first scriptures I learned as a new Christian happened to be Romans 13:8.
It advises us to “owe no one anything, except to love each other, for the one who loves another has fulfilled the law.”
Here, we see the importance of prioritizing love and fulfilling obligations, including financial ones.
We need to strive to manage our finances responsibly. This includes avoiding unnecessary debt whenever possible and honoring commitments made to lenders.
The Bible recognizes that borrowing may sometimes be necessary but advises us to handle the borrowing relationship wisely and honestly.
It also emphasizes how much we should comitt to loving others by managing resources responsibly.
Bad credit…I’ve been there
I know what it means to borrow money and not be able to pay it back. I also know what it means to borrow money with no INTENTION of paying it back. Yes, I was a young, silly woman driven by what I wanted and not what I needed.
The result was me having more debt than I could pay.
What is funny is that while I looked prosperous, I was broke and overcome with debt.
Thank God, He taught me to pull myself out of that cycle and cultivate excellent credit.
To be clear, it wasn’t because of anything I did.
It wasn’t because I got married.
It was because of God’s grace and kindness.
Tithing – which I’ll talk about later – was a MASSIVE part of it. Guranteed.
Modern-day financial problems
I don’t care what they say; I think we are in a recession.
A recession is when the economy takes a big hit, and everything goes downhill. It’s like a major slump in the economy, with less money being spent, fewer jobs available, and everything just slowing down.
Just like water weight, recessions happen naturally as part of the economy’s ups and downs. They happen when people start feeling cautious about spending, businesses hold back on investing, and the overall economic output shrinks.
It can be caused by things like people losing confidence in the economy, having too much debt, or unexpected economic shocks. Check out Investopedia for more information.
That is what a recession is. It makes our financial status wobbly.
One could be more than tempted to borrow money.
But what does the Bible say about borrowing money?
The challenges of borrowing money
Sometimes, lenders play dirty tricks to trap borrowers, taking advantage of their financial struggles.
We are still discussing the question of ” What does the Bible say about finances?” but first, let me tell you why you should think twice before doing so.
It really is not the best idea unless you absolutely cannot avoid it.
One common tactic is the use of hidden fees and ambiguous terms in loan agreements. For example, some payday lenders may advertise low interest rates upfront but bury high fees and penalties deep within the contract.
These hidden costs can significantly inflate the total repayment amount. I wish I had known that as a young woman.
When this happens, it can catch you off guard and trap you in a cycle of debt.
Then, you have the predatory lenders who aggressively market loans to impoverished people.
Often, they have poor credit or limited financial literacy, offering quick cash solutions without fully disclosing the long-term financial consequences.
Such practices underscore the importance of being vigilant, reading contracts thoroughly, and seeking financial advice to avoid falling into these traps.
Beware of debt
The Bible offers several warnings and principles regarding debt to guide believers in their financial stewardship. One prominent warning is found in Proverbs 22:7, which states, “The rich rules over the poor, and the borrower is the slave of the lender.” This verse highlights the potential loss of freedom and autonomy that debt can bring, emphasizing the importance of avoiding becoming overly indebted to others.
Additionally, Romans 13:8 advises, “Owe no one anything, except to love each other, for the one who loves another has fulfilled the law.”
This verse encourages believers to prioritize financial integrity and responsibility, urging them to promptly manage their debts and fulfill their obligations.
Moreover, the Bible warns against the dangers of excessive borrowing that can lead to financial strain and hardship.
Proverbs 22:26-27 cautions against being “one who puts up security for a stranger” and advises against guaranteeing debts for others, emphasizing the potential risks involved in assuming financial liabilities beyond one’s means.
Overall, these biblical teachings underscore the importance of exercising prudence, honesty, and diligence in managing finances.
They urge believers to avoid unnecessary debt and responsibly honor their financial commitments.
In the end, what does the Bible say about borrowing money? Again, it says we should be careful and wise when doing it.
Let’s switch gears…
Christian Sister, we can become scared and fearful when times get tough. We can either run to lenders or hold tight to every penny.
In the extreme, neither is good.
We stop spending frivolously (which is good), we save a pocket of money (which is great), and we stop giving money to the church (which is insane!)
The best way to walk in financial blessing is to do things God’s way. This mean handling your money wisely.
When people hit hard financial times, the first thing they do is stop giving to the Lord. Notice I said, “giving to the Lord and that the church.” Although it is the same thing, I think we lose sight of the fact that when we give to the church, we are actually supporting God’s vision. We are giving, in fact, to the Lord.
It is foolish to think god will not provide for his people when we give to him. In fact, this insanity. How much more will he give to us when we obey Him? He’s promised to provide for us and be our Jehovah Jireh. He is our Provider.
As Christians, we are commanded to tithe and offer our gifts to Him. I write about that in detail here.
Here are some great examples of how God provides during “recessions” or hard times in the world:
- Joseph in Egypt (Genesis 41): One of the most well-known stories of God’s provision in famine is the account of Joseph in Egypt. God granted Joseph the ability to interpret Pharaoh’s dreams about seven years of abundance followed by seven years of severe famine. Joseph’s wise counsel allowed Egypt to store grain during the plentiful years, ensuring there was enough to sustain not only the Egyptians but also Joseph’s family when they came seeking food during the famine.
- The Widow of Zarephath (1 Kings 17): During a severe drought and famine in the land, the prophet Elijah was sent by God to a widow in Zarephath. Despite having only a handful of flour and a little oil left, the widow obeyed Elijah’s instructions to make him a small cake first. Miraculously, her flour and oil did not run out throughout the entire famine, sustaining both Elijah and the widow and her son.
- Ruth and Boaz (Ruth 1-4): The book of Ruth depicts a story of God’s provision in the midst of hardship. Ruth and her mother-in-law Naomi faced famine and loss but eventually found themselves in Bethlehem during the barley harvest. Through a series of events orchestrated by God, Ruth gleaning in Boaz’s field led to Boaz becoming her kinsman-redeemer, providing food and security for both Ruth and Naomi.
- Elisha and the Multiplication of Bread (2 Kings 4): In another miraculous provision during a time of famine, Elisha multiplied a small amount of bread to feed a hundred people. A man brought twenty loaves of barley and some fresh ears of grain to Elisha, who instructed that it be given to the people. Miraculously, there was more than enough, and they ate and had some left, highlighting God’s abundance in times of scarcity.
These are awesome biblical examples that show how God always takes care of His people, even when there’s a shortage of food.
Instead of worrying about what does the Bible say about finances, we can lean into the stories that remind us how God is in control, compassionate, and always keeps His promises. So cool, right?
How I trusted God with my finances
I have been one of those young single moms with no money and a little baby to feed.
Let me tell you, time and time again, I witnessed God’s provision first-hand, and it was consistent. I gave when I didn’t have, and God multiplied it. Here is the worst and best part. I was not a faithful tither. But God still provided!
He worked miracles to educate me in a university without paying a dime, feed me, and provide for my son. Guess what? He’s still able! He’s still God! What He did for me, He can certainly do for you!
I never considered or asked myself, “What does the Bible say about borrowing money?” I bet if I had, I would have been faithful in rendering my tithes.
We live by a different “set of rules.”
You’re his darling baby girl. He will use all His power to ensure you have what you need to live, worship, and testify to His glory.
This means when you give, He replenishes and adds even more to it. So you don’t need to hoard. He’s going to give you what you need. He will never leave you begging for bread or left alone.
Psalm 37:25 says:
“I was young and now I am old, yet I have never seen the righteous forsaken or their children begging bread.”
As Christians, we live by the understanding and belief in God’s provision as a foundational aspect of our faith. It goes beyond the material realm, encompassing spiritual, emotional, and physical needs.
Rooted in biblical principles and trust in God’s promises, we acknowledge that every aspect of our lives is sustained by God’s grace. This reliance on God’s provision fosters a sense of gratitude and dependence, acknowledging that it is through God’s mercy and generosity that we receive guidance, strength, and the necessary resources for daily living.
You know, the Lord’s Prayer, which includes the request for daily bread, reflects this reliance on God for sustenance. Living by God’s provision involves seeking His will, trusting in His timing, and recognizing that God’s abundant love and care extend to every facet of life, bringing comfort, peace, and assurance to those who walk in faith. Amen!
“What does the Bible say about borrowing money?” is something most people may question or be skeptical about, but God’s promises are so clear and concrete.
What does the Bible say about borrowing money?
Bible verses on financial breakthrough
“The rich rule over the poor,
and the borrower is slave to the lender.” Proverbs 22:7
(So true! Beware of those credit cards!)
6 “But godliness with contentment is great gain.
7 For we brought nothing into the world, and we can take nothing out of it.
8 But if we have food and clothing, we will be content with that.
9 Those who want to get rich fall into temptation and a trap and into many foolish and harmful desires that plunge people into ruin and destruction.
10 For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs.” 1 Timothy 6: 6-10
11″ I am not saying this because I am in need, for I have learned to be content whatever the circumstances.
12 I know what it is to be in need, and I know what it is to have plenty. I have learned the secret of being content in any and every situation, whether well fed or hungry, whether living in plenty or in want.
13 I can do all this through him who gives me strength.” Philippians 4:11-13
(Remember, the context for this scripture is “giving.” People like to leave that out. :)
31 “So do not worry, saying, ‘What shall we eat?’ or ‘What shall we drink?’ or ‘What shall we wear?’
32 For the pagans run after all these things, and your heavenly Father knows that you need them.
33 But seek first his kingdom and his righteousness, and all these things will be given to you as well.
34 Therefore do not worry about tomorrow, for tomorrow will worry about itself. Each day has enough trouble of its own.” Matthew: 31-34
19 “Do not store up for yourselves treasures on earth, where moths and vermin destroy, and where thieves break in and steal.
20 But store up for yourselves treasures in heaven, where moths and vermin do not destroy, and where thieves do not break in and steal.
21 For where your treasure is, there your heart will be also. “
Matthew 6: 19-21
23 Whatever you do, work at it with all your heart, as working for the Lord, not for human masters,
24 since you know that you will receive an inheritance from the Lord as a reward. It is the Lord Christ you are serving.” Colossians 3:23-24
“In everything I did, I showed you that by this kind of hard work we must help the weak, remembering the words the Lord Jesus himself said: ‘It is more blessed to give than to receive.’” Acts 20:35
“For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs.” 1 Timothy 6:10
There you have it! If you’re still wondering, “What does the Bible say about finances?” read these scriptures again. Ha! Seriously, together, let’s embark on a journey of discovering God’s timeless principles that can bring peace in the midst of financial turmoil.
Love ya, and thanks for reading!
Update: I’ve added the video below as an update.
I love Dave Ramsey. Have you ever heard about his books or videos? I’ve included a few for you to check out. Click the sentence before and this one to view.
