Is Borrowing Money a Biblical Principle? by DAVID C. FRIEND for Charisma News
The subject of borrowing money is somewhat controversial in the Christian community. I have heard certain preachers warn us about the evils of borrowing. In addition to that, I’ve spoken to individuals who say they pay cash for everything and would never borrow money. If they don’t have the money to pay cash for it, they believe they don’t need it. Now some of this is a little extreme, and some of it is good advice. Allow me to bring some clarity to these thoughts.
The Bible is clear about being cautious in borrowing money. It tells us when we borrow from another individual, we can actually become a servant to them. However, borrowing may be necessary in some instances. The most obvious examples would be in borrowing money to purchase a car or buy a new home. Yet we must use caution when it comes to borrowing for even these necessary items.
Most of us would not own a home if it wasn’t for a mortgage company or bank advancing us the funds to make the purchase. Buying a home has always been the American dream and one that most individuals and couples look forward to accomplishing. When my wife and I purchased our first home, we were cautious and concerned about the monthly payments. Then we realized that we had to make payments to rent a place to live. So, why not purchase a home, and at least it could be an excellent investment. In addition, the interest payments on our mortgage would be deductible on our income taxes. In that instance, borrowing money was a good decision.
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