What Does The Bible Say About Debt?
“The rich rule over the poor, and the borrower is a slave to the lender.” (Proverbs 22:7). Debt is equal to slavery. Until you are debt-free, you will be enslaved to your past mistakes. God wants you to enjoy his goodness, but the consequences of your actions will not allow you until the debts are paid in full.
Debts end up denying God the opportunity to provide what we “really” need. We fail to realize that sometimes God’s way of providing what we need the most is to deny us what we want the most. But what we do is, force our way out of God’s plan and get into debt. We get into debt through wasteful expenditure, unexplainable losses, and even incurable diseases.
Ways To Break Out Of The Cycle Of Debts
Here are some biblical principles to follow to come out of the cycle of debt:
1. Be born again and part of God’s Kingdom (Matthew 3:16). Do the following things:
Repentance and Confession: Acknowledge any past financial mismanagement, greed, or covetousness.
Renounce Generational Curses of Poverty: If your family has a history of financial struggles, break any ancestral curses.
2. Maintain a lifestyle of giving.
Never stop giving back to God and sowing in the lives of others. Remember, every time you give, it’s like you have sown a seed, and very soon it will bring forth fruit. It doesn’t matter how tight your situation is; always give. Remember the poor widow who gave her last two copper coins (Luke 21:1-4). You can also give your time, give compassion, give love, give food, and give clothes. Never stop giving (2 Corinthians 9:7).Obedience in giving opens doors for financial blessings (Malachi 3:10).
3. Make a list of all your debts (Create a “Get-Out-of-Debt” Plan).
Write out your debt list, due dates, interest rates, and repayment goals. Where there’s vision, there’s provision. By making a list, you acknowledge these debts and are willing to tackle them no matter what. Start paying them from the least to the highest.
4. Ensure you destroy every credit card you pay.
Once you finish paying any of your credit cards, just ensure you destroy the physical card, but don’t close the credit card account; otherwise, it will affect your credit score. Leave one card for emergencies only.
5. Learn to be content with what you have
Ensure that you only buy what is necessary and don’t go beyond your capacity, leading you to accrue debts as a result ( 1 Tim. 6:6–8).
6. Seek wise, godly counsel.
Any time in debt, seek godly counsel from a pastor, financial counselor, or someone trained in biblical counseling (Proverbs 20:18 and 2 Chronicles 20:20). A mentor or Christian financial coach (like Crown Financial or Dave Ramsey) can help build a clear debt freedom roadmap.
9. Negotiate with your creditor about a favourable payment plan.
Always talk to your creditors to explain your situation and work out a payment plan with them. Ask them for reasonable payment reductions or lower rates (Matthew 5:25).
10. Be willing to become debt-free.
Paying off debt is something God blesses. The Bible says in Psalm 37:21, “The wicked borrow and do not repay”. God does not bless the wicked. You’ve got to be intentional and start with a commitment. It isn’t easy and takes discipline and perseverance, but it’s also the right thing to do.
11. Make a budget.
Track where your money is going by creating a monthly spending record. How can you start to reduce your expenses so that you spend less than you earn every month? What are some expenses that you can eliminate?
12. Quit comparing yourself with others(Guard Against Envy and Competition).
A big reason people spend more than they should and go into debt in the first place is because they’re caught up in comparison. Many enter debt trying to impress others. Seek divine purpose, not social approval.
13. Put extra money toward paying off your debts
The more money you can put toward your highest-interest debt each month, the quicker you’ll get out of debt.
14. Look for some additional income.
With this, you can pay off your debts faster after all Proverbs 14:23 says, “All hard work brings a profit, but mere talk leads only to poverty.”
15. Avoid adding more new debts.
Learn the difference between intelligent borrowing and stupid debt. Ensure that you don’t make new unnecessary debts that might land you back to where you were before. Don’t live beyond your means.
16.Establish a “No-Spend Challenge”
Go 7, 14, or 30 days buying nothing except necessities. Redirect the savings to debt repayment.
17.Audit for ‘Money Leaks’
Common leaks: emotional spending, multiple bank charges, ATM withdrawals, digital micro-payments.
18.Study Wealthy but God-Fearing People in the Bible
Abraham, Isaac, Joseph, Esther, Solomon, Lydia—study their mindsets, habits, and God-connections.
19.Check for Subscription and Service Drains
Monthly subscriptions may quietly drain you. Review auto-renewals and cancel unused services.
20.Adopt a Builder’s Mentality
Don’t live just to consume. Live to build: build savings, build legacy, build capacity.
21.Automate Savings and Debt Payments
Set small, regular amounts to automatically go to debt repayment and savings.
22.Implement the 10/10/80 Rule
Tithe 10%, Save/Invest 10%, Live on 80%. This is a biblical stewardship model that creates balance.
23.Avoid Financial Co-signing
Co-signing loans can drag you into debt not yours (Proverbs 6:1–5). Break free from emotional guilt.
24.Invest in Financial Literacy
Read or listen to financial materials weekly (e.g., “Rich Dad Poor Dad,” “The Total Money Makeover,” or “Biblical Economics.”)
25.Track Every Coin (Financial Clarity)
Know where every penny goes. Track daily for 30 days and adjust accordingly
26. Prophecy life over your finances.
There is great power in the words you speak—power to create and destroy. Remember, Jesus cursed the fig tree, and it dried (Mark 11:23). So what words are you speaking to your finances? Are you always confessing that you will never pay off your debts because you are broke?
Remember that the world doesn’t have an effective way to get out of and stay out of debt, no matter what a credit counselor may tell you. God, however, does!
27.Cancel Evil Financial Pronouncements
Prayer: “I cancel every negative word spoken over my finances. I shall not be broke, in Jesus’ name!” Words spoken over you (by parents, teachers, enemies, or even yourself) can trap you in lack.
28.Prophetic Release by Name
“Every evil dedication tying my name to poverty, I break it now!” Debt can be attached to your name, especially if dedicated at birth. Action: Lay hands on your full name and pray: “I disconnect my name from financial shame, in Jesus’ name!”
29.Break Agreement with Struggle Culture
Some cultures glorify suffering or believe poverty = holiness. That’s not Kingdom theology. God delights in your prosperity (Psalm 35:27).
30.Switch from a Consumer to a Producer Mentality
Start asking yourself: “What can I produce, sell, teach, or trade?” Debt thrives on buying. Freedom thrives on building.
31.Live Below, Not Just Within, Your Means
God blesses what is left over for multiplication—not what is consumed in full.
32.Command Territorial Release
Some regions are cursed with poverty (Haggai 1:6). If your city, family compound, or land has such a curse, pray: “Let my land yield her increase and reject the covenant of financial dryness!”
33.Write, Speak, Burn
Write your debts on a paper, prophesy God’s Word over them (e.g., Colossians 2:14), then burn it symbolically.
Declare: “Jesus has blotted out every handwriting of debt against me!”
34.Midnight Fire Declarations
Wake up between 12am–3am and declare for 7 days: “Any power feeding on my financial harvest—vomit it by fire!” “Every invisible debt chain on my hands, break now!” “I break the cycle of financial shame in my bloodline!”
35.Hold a Financial Thanksgiving Service
Even before debt is gone, honor God with a personal praise or sacrificial offering service. Thanksgiving opens closed financial gates.
“And if a man borrows anything from his neighbor and it becomes injured or dies, the owner of it not being with it,
Pastor Nathaniel
Relevant Posts:
Spirit Of Debt: How To Overcome It Now – 2023 (mtmchurch.org)
Debts Are Like A Curse For Genuine Christian People – 2023 (mtmchurch.org)
Debts Are Forbidden For Genuine Christian People (mtmchurch.org)
