“For the love of money is at the root of all kinds of evil...”
— 1 Timothy 6:10
Entering and Escaping the Debt Trap: A Biblical Perspective
Although written centuries ago, the Bible’s advice about money and debt is still relevant and valuable today. Our ancestors faced many of the same serious financial problems that we do in modern times. Look at these biblical warning signs that you might be entering into a 21st Century Debt Trap:
Living on CREDIT instead of CASH
“Don’t withhold repayment of your debts. Don’t say ‘some other time,’ if you can pay now.” (Proverbs 3:27-28)
Delaying PAYMENTS or paying THE MINIMUM DUE
“Let no debt remain outstanding.” (Romans 13:8)
Unable to TITHE or SAVE
“Will anyone rob God? Yet you are robbing me! But you say, ‘How are we robbing you?’ In your tithes and offerings!” (Malachi 3:8)
The Wise man saves for the future, but the foolish man spends whatever he gets.” (Proverbs 21: 20)
Unable to PAY TAXES
“Give to Caesar what is Caesar’s, and to God what is God’s.” (Matthew 22:21)
“Indulging in luxuries, wine, and food will never make you wealthy.” (Proverbs 21:17)
Looking for GET RICH QUICK IDEAS
“Steady plodding brings prosperity; hasty speculation brings poverty.” (Proverbs 21:5)
1. COMMIT to becoming debt-free now.
“The wicked borrow and do not repay…” (Psalm 37:21)
2. Start paying GOD and YOURSELF first.
“The purpose of tithing is to teach you always to put God first in your lives.” (Deuteronomy 14:23)
3. List all you OWN and all you OWE.
“By wisdom a house is built, and through understanding it is established.” (Proverbs 24:3)
4. Have a SALE.
“Get rid of every idol…” (Ezekiel 20:7)
5. Set up a REPAYMENT PLAN.
“Good planning and hard work lead to prosperity…” (Proverbs 21:5)
Get advice if you want your plans to work.” (Proverbs 20:18)
6. Decide to do it in HALF THE TIME.
“What is impossible for mortals is possible with God.” (Luke 18:27)
7. Don’t add any NEW DEBT.
“Be content with what you have…” (Hebrews 13:5)
8. Share your plan with your CREDITORS.
“When your ways please the Lord, [God] will make your enemies into friends.” (Proverbs 6:7)
9. STICK TO IT!
“Let us not get tired of doing what is right, for after a while we will reap a harvest of blessing, if we don’t get discouraged and give up.” (Galatians 6:9)