“The rich rules over the poor, and the borrower is the slave of the lender” (Proverbs 22:7 ESV).
Solomon warned about the power money and debt could exercise over people. He was not giving an absolute prohibition against every form of borrowing, but a warning about its dangers. The Old Testament regulated lending rather than universally forbidding it. Solomon’s warning was that debt creates obligation, and obligation can limit freedom.
The word “slave” expressed the loss of freedom that could accompany indebtedness. Poverty often created dependence, while borrowing created a binding obligation to the lender. In the ancient world, that bondage could sometimes become literal. Solomon’s wisdom was therefore intensely practical. Every debt carried some degree of dependence.
The New Testament echoed this caution when Paul wrote, “Owe no man any thing, but to love one another” (Rom. 13:8). Paul’s point was not that every mortgage, business loan, or financial agreement was sinful, but that believers were to faithfully discharge what they owed. Financial obligations were to be paid.
We need wisdom in how we handle debt. Borrowing may sometimes be necessary or prudent, but we should never treat debt casually. We can guard our freedom by living within our means, avoiding unnecessary obligations, and paying what we owe faithfully.
Before taking on debt, we can ask whether the purchase is truly necessary, whether the payments are manageable, and whether the obligation will hinder our ability to give, serve, or respond to God’s leading.
Yet there is one debt we can never fully repay, and that is to love one another. So let us avoid unnecessary financial bondage while gladly remaining indebted to love one another.
PRAYER: Dear Father, give us wisdom and self-control in how we handle money. Help us live within our means, avoid unnecessary debt, and faithfully pay what we owe. Guard us from financial bondage and teach us to use what You provide for Your glory. Above all, keep us faithful in the continuing debt of loving one another. In Jesus’ name, amen.