What Does the Bible Say About Debt?: 7 Shocking Verses

What does the Bible say about debt? The answer might surprise you!

What does the Bible say about debt? Are there Bible verses about debt-free? What about prayers for financial blessing? For those of us on a debt-free journey, motivational quotes, scriptures, and verses can be extremely helpful! Or perhaps you are wondering if it is even okay to have debt according to the Bible?

I know for me, prayer and manifestation were super helpful to keep me motivated and on track in my debt-free journey. I truly believe that staying inspired was key to paying off my $150,000 in student loans in only 16 months. The Bible actually has a lot to say about managing money, and that includes debt! This article will cover all the Bible says about debt.

This post is all about what does the Bible say about debt?

Bible Verse About Debt #1: Proverbs 22:7

Proverbs 22:7 NIV:

"The rich rule over the poor, and the borrower is slave to the lender."

Perhaps one of the most well-known verses on money, Proverbs 22:7 describes being in debt as a form of slavery and servitude. There are many ways to interpret this Bible verse about debt, one being as a stark warning to those that go into debt. This verse says that the lender will essentially control the life of the borrower until the debt is paid. This concept makes a lot of sense when you realize that every dollar that you earn is not truly yours while you are in debt.

This is why debt creates such anxiety for most of us. I experienced this anxiety when I was over 6-figures in student loan debt. We aren't truly free until we are free from debt. No matter what society, financial gurus, or social media says, being in debt is very uncomfortable for most of us, and efforts to push it out of our minds are either futile or fleeting. This Bible verse about debt could also be a criticism of lenders who enslave those who owe them. 

Bible Verse About Debt #2: Deuteronomy 15:1

Deuteronomy 15:1 NIV:

"At the end of every 7 years, you must cancel debts."

This verse applies more so to the lenders and debtors. If you were wondering: What does the bible say about debtors? Or—what does the Bible say about debt forgiveness?—this scripture provides an answer. Moses explains clearly that in the seventh year, or the Sabbath year, that in the spirit of rest all debts are to be released by lenders. It appears that in this Bible verse about debt, that debt forgiveness is encouraged every seven years. Now if only someone could let credit card companies know... 

Bible Verse About Debt #3: 2 Kings 4:6

2 Kings 4:6 NIV:

"Go sell the oil and pay your debts."

This Bible verse about debt speaks about a widow whose creditors are after her. When she asks for help, she is given the instruction to sell her olive oil in order to pay back her debts. This verse teaches that we should be held accountable for our debts, even when circumstances are difficult or unfair. If we made a commitment to pay someone back, the right thing to do is to uphold our promise. Selling items is one of the oldest debt payoff hacks in the book (literally). I wasn't selling olive oil, but I sold my jewelry, clothes, and furniture. This Bible verse also reminds us that there is always a solution to our problems, even when we feel like there isn't.

Still wondering- what does the bible say about debt? Keep reading for more enlightening verses.

Bible Verse About Debt #4: Proverbs 22:26

Proverbs 22:26 NIV:

"Do not be one who shakes hands in pledge or puts up security for debts."

This Bible verse warns against becoming a debtor yourself. The message is clear- do not put yourself at financial risk on behalf of others. This Bible verse is very wise, and one I really agree with. It is never a good idea to loan someone else money, no matter how close the relationship or how much you trust them. There are thousands of horror stories on the internet about people who loaned a friend/family member/coworker/beloved pet money only to be left high and dry. Not only does it hurt you financially, it destroys relationships. I believe the best thing we can do for others is to offer them love and support while holding them accountable for their own decisions. One could easily argue why bailing someone out of their financial mess would actually be harmful to that person, as we are allowing them to avoid the natural consequences of their actions.

It is, however, perfectly fine to gift someone else money (meaning that you do not ever expect to be repaid). If you have someone in your life that is in need and you want to help them out financially, a gift can be a generous blessing. But don't mistake the meaning of gift! Don't expect that person to return the money to you. Of course, you should not be gifting sums of money if you yourself are still in debt. 

Bible Verse About Debt #5: Matthew 6:12

Matthew 6:12 NIV:

"And forgive us our debts, as we have also forgiven our debtors."

This Bible verse covers a popular topic in the Bible, forgiveness. I interpret this to mean we are asking for forgiveness for making the mistake of entering into debt, while also offering forgiveness to the debtors themselves. Debt and shame go hand in hand. Being in debt often leads to feelings of embarrassment and despair. However, this mindset is destructive to your goal of becoming debt-free. Getting out of debt is a mental game, not a math game. Mindset is the key to success and the key to failure. If we are holding onto the shame and embarrassment of making the mistake of going into debt, we will never be able to pay it off. Those negative emotions will act as a quicksand as you try to rebuild your financial future. As stated in this Bible verse about debt, it is essential that you forgive yourself so that you can move forward.

Bible Verse About Debt #6: Psalm 37:21

Psalm 37:21 NIV:

"The wicked borrow and do not repay, but the righteous give generously."

This Bible verse makes it very clear that we need to repay our debts. This Bible verse about debt forgiveness tells us that expecting debt forgiveness is wicked. If we commit to paying someone back, we ought to do just that. Otherwise, we should not make the commitment in the first place. Paying off debt is therefore a biblical pursuit and a rewarding goal to work towards.

This Bible verse about debt also encourages us to give generously to others, something we are unable to do if we are in debt. It can be motivating to think about how remaining in debt negatively impacts others and not just ourselves. This mindset and exercise is detailed in my post about how to get out of debt.

Bible Verse About Debt #7: Proverbs 3:9

Proverbs 3:9 NIV:

"Honor the Lord with your wealth."

Although this Bible verse doesn't address the topic of debt directly, it does give instruction on how to manage our money. This verse states that how we manage our money should honor the Lord. Based on other Bible verses covered in this article, honoring the Lord through managing our finances means avoiding becoming a lender, avoiding going into debt, promptly paying off any debt that we owe, and giving generously to others. One of the best mental shifts to make when looking at your finances is acknowledging that "your" money isn't truly yours. It belongs to God, and it is your job to act as a responsible steward of the money you've been given. That is why it is so important to pay off your debt and pursue a debt-free life. Going into debt is not being a good steward of your money, and in the end you, your family, and many more in your life will suffer as a result of that decision. If you are in debt, this is something you already know all too well. But there is hope! If I paid off my debt, you can too!