Drowning in a Sea of Debt

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

While some pundits claim a life of debt is unavoidable, the Bible would beg to differ. Our problems usually begin when we either forget or discard vital biblical principles about debt. We need to remember some time-honored principles in order to avoid debt.

1. We don’t need to live a lavish lifestyle.
People think they need certain things or maintain a certain lifestyle. But our income determines our lifestyle. If God is pleased to prosper us materially, then we take it from His hand as His gracious provision. But each should live as the Lord has prospered, and not live beyond our means. Remember that those who love money never seem to have enough (Ecclesiastes 5:10).

2. We need to get serious about paying off our debts.
On this the Bible is clear:

“Owe no one anything, except to love each other, for the one who loves another has fulfilled the law” (Romans 13:8).

If we have incurred financial obligations, then we need to meet them. If we cannot, then we need to go to our lenders and either ask them for more time or help us develop a plan to pay it back. No matter how deep you may have fallen into debt, take some steps to get out today.

3. Ask God for help.
Since God honors obedience, He will honor your commitment to live debt-free. Why not ask Him for some help? Pray for help, and pray big. For most, you will have to dig out of debt little by little, but it helps to pray to God for help. Who knows, He may see fit to rescue you sooner than later.

Learn from any past mistakes you may have made, and develop a new lifestyle of honoring God, living within your means, and putting Him first.

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