The Debilitating Dilemma of Debt

Steve Petroelje

READ : Psalm 37:21, Proverbs 22:7

The borrower is the slave of the lender. (v. 7)

Have you seen the financial graphs that portray the power of compound interest? When we save money, compounding interest works in our favor. When we accumulate credit card debt, it works against us. Whenever you borrow money to purchase something, you know that you end up paying much more than the original price.

The Bible does not completely condemn debt, but it does warn us that debt should be repaid and that borrowing causes us to be “slaves” to the lender. As stewards of all that God has entrusted to us, how should followers of Jesus Christ approach situations of borrowing and debt?

First, we must know the difference between needs and wants. Second, we must consider how our debt affects others. Third, we must practice “delayed gratification.” If it’s a “want,” either save up and pay cash or do without. Needing everything right now is childish behavior. We are called to be mature stewards of our money and resources. If we aren’t, we will live much of our life as a “slave to the lender.”


Help me to be faithful, wise, and cautious in the way that I handle and spend money. Amen.