“Do You Need That Debt?”

Sunday, November 26, 2017

This time of year inherently comes with potential pitfalls. Particularly in a season where so many gifts are given, we would do well to heed a couple gentle warnings about spending and debt. Certainly, the Bible never makes black-and-white, do-or-don’t statements about borrowing money, but it does give us some wisdom in regard to credit, creditors, and self-control.

Here are a few things the Bible does and does not say on the subject:

• It does not say it is a sin to borrow money, even at a high interest rate. Sometimes, this is just necessary (medical expenses, job layoffs, etc.).
• It also does not say that this is wise, even if it’s for the sake of giving to others.
• It does not say that God will providentially bail you out if your debt gets too great.
• The Bible does say that it’s wrong to leave our debts unpaid. “The wicked borrow and do not repay” (Psa. 37:21). There may be exceptions, but the rule is that we have a moral obligation to repay to the best of our ability.
• The Bible also warns us against presuming upon the future. James said,   “…you do not know what will happen tomorrow” (Jas. 4:13). That being true, we should be careful in presuming upon tomorrow’s ability to provide enough to pay off today’s debts.
• The Bible also warns us against being controlled by anything, even something that is good in its own right. Paul said, “‘All things are lawful for me,’ but not all things are helpful. ‘All things are lawful for me,’ but I will not be dominated by anything” (1 Cor. 6:12). Think: who is in control when the debt piles up? Are you in control of the money or is the money in control of you?

Again, none of this creates black-and-white rules, but it is wisdom that deserves careful thoughtfulness, especially during the next few weeks.

- adapted for our bulletin from Focus On The Family blog; see original here.

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