The news warns us that Canada has a major problem regarding its vast household debt. Many are in bondage because they just “got to have” that next little gadget now. Of course that little plastic card makes it possible. But in no time at all, it becomes a powerful bondage, and some begin to pay only the interest and are never able to reduce the amount that was initially borrowed.
The apostle Paul in Romans 13:8 talks about two kinds of debt. He is talking about financial debt and he is talking about a spiritual and moral debt when he says, “Let no debt remain outstanding, except the continuing debt to love one another … ”
Yes, one must avoid useless expense and stay away from debts that they do not have the ability to pay off. But even if one pays off all of their debts, according to the verse in Romans 13:8 they would still be in debt, “… the continuing debt to love one another.” We are all in this kind of debt and this debt we cannot be free from.
In regards to financial debt: Is it wrong to borrow money? Our verse says, “owe no man anything.” If you have borrowed money to buy a house or a car, are you disobeying scripture? If you have credit card debt are you disobeying this verse? If the answer is yes, I think there would be a lot of us that are disobedient to the Word of God. I don’t really think the verse is saying that we should never borrow money.
In fact if we go back to the Old Testament we find that borrowing was allowed but Deuteronomy also makes it very clear that debt should be limited. It must be paid off in a reasonable time. The New Testament also recognizes that borrowing may take place. In fact, the Lord talks about this in Matthew 5:42. He makes reference to lending to those who ask. So, there doesn’t seem to be a problem with borrowing or lending. However, we must never borrow beyond our means; we should never extend ourselves to the point where we cannot meet our obligations.
There are many studies about what makes people happy. Over the last year, income has more than doubled but happiness has declined. The only time that more money and more things can actually increase happiness is when it raises a family from extreme poverty to the place of getting their basic needs met. But beyond that, the evidence is overwhelming that simply getting more and more and more does not produce an increase in happiness – often it is the opposite.
What is the conclusion of the matter? Our debt to love one another is ever present, and in regards to our financial debt, it must be limited and we must be regular in making our payments. In Proverbs 27:21 it says, “The wicked borrows and does not pay back.” As long as we are making the payments according to the agreement with the other individual, I think we are meeting the requirements of the financial part of Romans 13:8.
– Larry Dannhauer is senior pastor of the Grand Forks Christian Centre
