Biblical Teaching on Money Management and Debt

Biblical teaching on money management and debt emphasizes principles of diligence, generosity, and responsible stewardship, while also addressing the social implications of lending and borrowing. The Mosaic Law, in particular, established regulations designed to prevent the exploitation of the poor and ensure a measure of economic justice within the community ^{[2, 12]}.

A foundational principle in biblical money management is diligence and hard work. The Bible frequently commends early rising and industriousness as virtues, linking neglect of these to poverty ^[1]. For instance, Proverbs 6:9-11 warns against the consequences of idleness, stating that poverty will come like a robber. Figures like Abraham, Isaac, Jacob, Joshua, Gideon, Samuel, David, and Mary are presented as examples of individuals who rose early to execute God's commands or discharge daily duties ^[1]. This emphasis on diligent labor suggests that individuals are expected to actively work to provide for themselves and their families.

The Bible also provides guidance on the use of wealth. While it acknowledges that people will "lavish gold out of their purses" for various purposes, it critiques those who spare no expense for idols, contrasting this with the "niggardliness of professors who worship God with what cost them nothing" ^[9]. This implies that resources should be directed towards God-honoring purposes, and that generosity in worship is valued. Furthermore, the concept of self-denial is presented as a test of devotion to Christ and necessary for following him, suggesting a disciplined approach to material possessions and desires ^[3]. This includes denying ungodliness and worldly lusts, controlling appetite, and abstaining from fleshly lusts ^[3].

Regarding debt, the Mosaic Law contained specific provisions. It encouraged lending to those in need but strictly forbade the exaction of interest from fellow Israelites ^{[2, 10]}. Exodus 22:25 and Leviticus 25:35-37 prohibit charging interest on loans to the poor, aiming to prevent exploitation ^[7]. While interest could be charged to foreigners, the primary concern was to protect the vulnerable within the community ^{[2, 10]}. The law also mandated the cancellation of all pecuniary obligations during the Sabbatical year (Deuteronomy 15:1-11), a regulation that aimed to prevent the accumulation of debt and provide relief from financial bondage ^{[2, 12]}. This "cancel the debts" provision was a technical term referring to releasing individuals from creditors and penalties for default ^[12]. These regulations collectively worked to prevent excessive debt within Israelite society ^[2].

The New Testament further develops these themes. Jesus' teaching in Luke 6:34-36 instructs followers to "lend . . . without expecting to be repaid." This teaching goes beyond the Mosaic Law's prohibition of interest, urging a radical generosity that imitates God's kindness to all people, even those who do evil ^[7]. This perspective suggests that lending should be viewed as an act of charity rather than an investment for personal gain, especially when dealing with those in need.

The concept of "debt" in a spiritual sense is also present in biblical teaching. In the Lord's Prayer, the petition "forgive us our debts" is understood by some commentators, such as John Gill, to refer to sins ^[5]. This metaphorical use of "debt" highlights the moral and spiritual obligations humans have before God, and the need for divine forgiveness ^[5].

The Bible also connects financial practices with divine blessing and discipline. Neglecting one's duty to God, such as failing to build the temple in Haggai's time, was linked to a lack of prosperity, where people would "clothe . . . but . . . none warm" due to insufficient clothing and failed crops ^[11]. This suggests a divine economy where obedience and faithfulness can lead to blessing, while disobedience can lead to financial hardship ^[11]. Conversely, the righteous are described as being generous, with their "seed blessed" ^[8]. Deuteronomy 8:5 states that God disciplines his people as a father disciplines his son, implying that financial difficulties can sometimes be a form of divine chastening intended for correction and growth ^{[4, 6]}.

The overall biblical perspective on money management and debt encourages a lifestyle of responsible stewardship, marked by hard work, generosity, and a commitment to justice, particularly for the poor. It cautions against greed and exploitation, advocating for practices that foster community well-being and reflect God's character.

Sources

Torrey's Topical Textbook “Torrey's Topical Textbook: Early Rising — Christ set an example of -- Mr 1:35; Lu 21:38; Joh 8:2. Requisite for Devotion. -- Ps 5:3; 59:16; 63:1; 88:13; Isa 26:9. Executing God's commands. -- Ge 22:3. Discharge of daily duties. -- Pr 31:15. Neglect of, leads to poverty -- Pr 6:9-11. Practised by the wicked, for Deceit. -- Pr 27:14. Executing plans of evil. -- Mic 2:1. Illustrates spiritual diligence -- Ro 13:11,12. Exemplified Abraham. -- Ge 19:27. Isaac, &c. -- Ge 26:31. Jacob. -- Ge 28:18. Joshua &c. -- Jos 3:1. Gideon. -- Jdj 6:38. Samuel. -- 1Sa 15:12. David. -- 1Sa 17:20. Mary, &c. -- Mr ”
Easton's Bible Dictionary “Easton's Bible Dictionary: Debt — The Mosaic law encouraged the practice of lending (Deut. 15:7; Ps. 37:26; Matt. 5:42); but it forbade the exaction of interest except from foreigners. Usury was strongly condemned (Prov. 28:8; Ezek. 18:8, 13, 17; 22:12; Ps. 15:5). On the Sabbatical year all pecuniary obligations were cancelled (Deut. 15:1-11). These regulations prevented the accumulation of debt.”
Torrey's Topical Textbook “Torrey's Topical Textbook: Self-Denial — Christ set an example of -- Mt 4:8-10; 8:20; Joh 6:38; Ro 15:3; Php 2:6-8. A test of devotedness to Christ -- Mt 10:37,38; Lu 9:23,24. Necessary In following Christ. -- Lu 14:27-33. In the warfare of saints. -- 2Ti 2:4. To the triumph of saints. -- 1Co 9:25-27. Ministers especially called to exercise -- 2Co 6:4,5. Should be exercised in Denying ungodliness and worldly lusts. -- Ro 6:12; Tit 2:12. Controlling the appetite. -- Pr 23:2. Abstaining from fleshly lusts. -- 1Pe 2:11. No longer living to lusts of men. -- 1Pe 4:2. Mortifying sinful lusts. -- Mr ”
Deuteronomy “You shall consider in your heart that as a man disciplines his son, so Yahweh your God disciplines you. -- Deuteronomy 8:5”
Matthew (Baptist/Reformed) “John Gill on Matthew 6:12: And forgive us our debts,.... Nothing is more frequent in the Jewish writings than to call sins "debts"; and the phrase, of forgiving, is used both of God and men. Thus the prayer of Solomon is paraphrased (y) by the Targumist: "and hear thou the petition of thy servant, and of thy people Israel, which they shall make before this place; and do thou receive it from the place of the house of thy Shekinah, from heaven; and do thou accept their prayer , "and forgive their debts".'' So Joseph's brethren signify to him, that it was their father's orders to say unto him”
Hebrews (Presbyterian) “Jamieson, Fausset & Brown on Hebrews 12:7: In Heb 12:7-8 the need of "chastening" or "discipline" is inculcated; in Heb 12:9, the duty of those to whom it is administered. If--The oldest manuscripts read, "With a view to chastening (that is, since God's chastisement is with a view to your chastening, that is, disciplinary amelioration) endure patiently"; so Vulgate. ALFORD translates it as indicative, not so well, "It is for chastisement that ye are enduring." dealeth with you--"beareth Himself toward you" in the very act of chastening. what son is he--"What son is there" even in ordinar”
Luke (Protestant academic) “Tyndale House on Luke 6:34: 6:34-36 The law of Moses prohibited charging interest on loans to other Israelites in order to prevent exploitation of the poor (Exod 22:25; Lev 25:35-37; Deut 23:20). Jesus further instructed his followers to lend . . . without expecting to be repaid. By doing good even to those who do evil, we act as children of the Most High and imitate our Father in heaven, who is kind to all people (cp. Rom 5:8).”
Psalms (Presbyterian) “Jamieson, Fausset & Brown on Psalms 37:26: his seed is blessed--literally, "for a blessing" (Gen 12:2; Psa 21:6). This position is still true as the rule of God's economy (Ti1 4:8; Ti1 6:6).”
Isaiah (Presbyterian) “Jamieson, Fausset & Brown on Isaiah 46:6: (Isa 40:19-20; Isa 41:7.) They lavish gold out of their purses and spare no expense for their idol. Their profuseness shames the niggardliness of professors who worship God with what cost them nothing. Sin is always a costly service.”
Exodus (Nonconformist/Puritan) “Matthew Henry on Exodus 22:25: Here is, I. A law against extortion in lending. 1. They must not receive use for money from any that borrowed for necessity (Exo 22:25), as in that case, Neh 5:5, Neh 5:7. And such provision the law made for the preservation of estates to their families by the year of jubilee that a people who had little concern in trade could not be supposed to borrow money but for necessity, and therefore it is generally forbidden among themselves; but to a stranger, whom yet they might not oppress, they were allowed to lend upon usury: this law, therefore, in the strictness of”
Haggai (Presbyterian) “Jamieson, Fausset & Brown on Haggai 1:6: Nothing has prospered with you while you neglected your duty to God. The punishment corresponds to the sin. They thought to escape poverty by not building, but keeping their money to themselves; God brought it on them for not building (Pro 13:7; Pro 11:24; Mat 6:33). Instead of cheating God, they had been only cheating themselves. ye clothe . . . but . . . none warm--through insufficiency of clothing; as ye are unable through poverty from failure of your crops to purchase sufficient clothing. The verbs are infinitive, implying a continued state: "Ye h”
Deuteronomy (Protestant academic) “Tyndale House on Deuteronomy 15:1: 15:1-23 The Law included the regulation of borrowing and lending so that the poor could survive deprivation. It provided restrictions to allow the rich to minister to the needs of the poor without exploiting them. 15:1 cancel the debts: This technical term refers to releasing people in financial bondage from their creditors and from any penalty for their default.”

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