What does the Bible say about loaning money to others? The Israelites should loan money to poor/destitute people – but they should not charge interest to fellow Israelites. should loan money: Deuteronomy 15:7-11 Matthew 5:42 Luke 6:35-36 should not charge interest Exodus 22:25 Leviticus 25:35-37 Deuteronomy 23:20

What does the Bible say about taking on a loan (going into debt)? You become a slave to the lender – Proverbs 22:7 You must pay back all the debt – Psalm 37:21 Only short-term loans were allowed (no more than seven years) – Deuteronomy 15:1-2. Ideally, your only “debt” should be the love you owe to everyone around you – Romans 13:8

7 Pay your obligations to everyone: taxes to those you owe taxes, tolls to those you owe tolls, respect to those you owe respect, and honor to those you owe honor. 8 Do not owe anyone anything, except to love one another. Romans 13:7-8

Ways to get out of debt Reduce your expenses and/or increase your income – and apply that money to your debt. Stop using credit cards (unless you pay them off every month) Snowball your debt payments. Follow the wise advice of a Christian financial counselor (and go to Financial Peace University). Create – and follow – a budget