Debt in Old Testament Wisdom
The wisdom literature of Scripture consistently cautions against the dangers of excessive debt. Proverbs 22:7 tells us plainly that "the borrower is servant to the lender," a reminder that debt creates a relationship of dependency that can compromise our freedom and spiritual focus. This isn't to say that all borrowing is sinful—Scripture acknowledges legitimate lending practices throughout the law—but rather that we should approach debt with great caution and humility.
The Old Testament also established gracious practices around debt forgiveness. Every seventh year, debts were to be released (Deuteronomy 15:1-2), and the Year of Jubilee provided sweeping debt cancellation every fifty years (Leviticus 25:39-42). These practices reflected God's heart for justice and His understanding that people sometimes fall into circumstances beyond their control. They reveal that while diligence and hard work are valued, so is mercy and the recognition of human limitation.
New Testament Teaching on Money and Obligation
Jesus Himself taught extensively about money, not because wealth is evil, but because our relationship with money reveals our heart's allegiance. In Matthew 6:24, He declared that no one can serve two masters—we cannot serve both God and money. This principle extends to debt: when we are bound by financial obligations we cannot responsibly meet, our worry and stress can pull us away from trust in God and service to others.
Paul's letters offer practical wisdom for believers. Romans 13:8 instructs us to "owe no one anything, except to love one another." While Paul acknowledges that some borrowing may be unavoidable in a fallen world, he encourages us to move toward a position of financial freedom so that we might give generously and serve others without constraint. The apostle also warns against the love of money (1 Timothy 6:10), recognizing that financial entanglement often feeds greed and discontentment.
Practical Application for Today
As Canadian Christians, we live in a culture that normalizes debt in ways previous generations would have found shocking. Credit cards, student loans, mortgages, and consumer financing surround us. While some debt—like a reasonable mortgage for shelter—may be part of responsible stewardship, we should prayerfully evaluate whether our borrowing reflects trust in God's provision or anxiety about the future.
The biblical path forward is one of intentional, honest living: earning what we can, spending less than we earn, and moving toward financial peace. This isn't about wealth accumulation but about freedom—freedom to give generously, to serve without desperation, and to trust God more fully. If you're struggling under debt's weight, remember that God's grace extends to our financial lives too. Seek wise counsel, make a plan, and take faithful steps toward the freedom that comes from living within your means and honoring your obligations.
Romans 13:8 — "Owe no one anything, except to love one another; for the one who loves another has fulfilled the law."