Money's Worth #3 - Breaking the Spirit of Debt — Liberty Church (2024)

FAQs

How do you overcome the spirit of debt? ›

Savings is seen in Scripture as a “storehouse principle” that will help us break the bondage of debt in our lives and release God's blessing. Joseph saved for 7 years to prepare for the “rainy day” of famine and as a result saved a nation.

Exodus 22:14 - If anything is borrowed, it should be paid back. If what is borrowed is lost or injured, full restitution must be made. Ps 37:21 - The wicked borrows but does not pay back, but the righteous is generous and gives. The Bible is clear that when something is borrowed is should be paid back.

You might say to God: “Heavenly Father, I lift this person up to you and put this situation in your hands. Please give me wisdom. Please bless this person financially so they will never feel the need to borrow in the future.

It's wrong not to repay debts

Psalm 37:21 says, “The wicked borrows but does not pay back.” This doesn't necessarily mean that it's always wrong for a Christian to declare bankruptcy.

Spiritual debt is not only unpaid money, it's also evil done, life snuffed, truth not said, deprivation, and intimidation. Take, for instance, that you can say the truth that will save someone, but you refuse to say the truth, and the person dies. You're now owing a debt.

So my advice to those who are in debt and want to get out is this: be a generous giver. And, at the same time, labor to get out of debt so you can invest in God's kingdom with the money that is freed up. Yes, this won't always be easy and will take wisdom.

Though the Bible does not encourage financial debt, there is one debt it does encourage, and that is to love one another. Romans 13:8 “Owe no one anything, except to love each other, for the one who loves another has fulfilled the law.” The Bible does not forbid debt, but it does not speak positively of it.

Psalm 3 serves as a testament to the enduring relevance of these ancient teachings, offering a blueprint for those seeking to find relief from debts and embrace a path of prosperity. In conclusion, Psalm 3 is a powerful tool for those navigating the complexities of financial hardship.

They cite the famous passage (Matthew 6:14) from the Sermon on the Mount, “Forgive us our debts as we forgive our debtors,” which is more accurately translated from the original language to “Forgive us our trespasses (our sins) as we forgive those who have trespassed (sinned) against us.”

I commit this hard work to You and trust You will help me come out debt free. Father, in Jesus' name, I'm asking for Your strategies. I trust Your generosity and know You want to lead me to wisdom. So give me Your wisdom to do the right things and make the right moves to get out of debt quickly.

What is the Lord's prayer for debts? ›

Our Father who art in heaven, hallowed be thy name. Thy kingdom come, thy will be done, on earth as it is in heaven. Give us this day our daily bread; and forgive us our debts, as we forgive our debtors; and lead us not into temptation, but deliver us from evil.

“Each of you should give what you have decided in your heart to give, not reluctantly or under compulsion, for God loves a cheerful giver” (2 Corinthians 9:7, NIV). There are so many benefits to giving. Always. We encourage you to continue doing it even as you dig your way out of debt.

Payments are required. The Bible refers to those who do not repay their debts as wicked. If your church is in no financial position to take on debt—thus defaulting on payments—it could hinder your public witness. Not only this, it sets a bad example for those you lead.

First, the lender may come after you—…even your bed will be taken from you (Proverbs 22:27). There are real ramifications for missing payments. Second, you are considered “wicked.” Psalm 37:21 says, The wicked person borrows and does not repay, but the righteous one is gracious and giving.

The Bible on Debt

Read the first portion of Romans 13:8 from several different translations: “Owe no man anything” (KJV). “Let no debt remain outstanding” (NIV). “Don't run up debts” (MSG). “Owe nothing to anyone” (NASB).

Talk to Your Loved Ones About Your Shame

This is a tough, but important step in your journey to overcome debt shame. Coming clean with your loved ones about your situation and the shame you are feeling will allow them to support you and help you to avoid spending temptation.

Try the debt snowball or avalanche method

You can start to see progress while paying off the lowest balances first, then move on to the next. The debt avalanche method saves money on interest when you pay the minimum on all debts while putting extra funds toward the balance with the steepest interest rate.