Bad effects of debt


Although debt is not a sin, it is a weight. These bad effects of debt should not be overlooked. You may want to quote scriptures upon scriptures to justify your decision for living a life that is orchestrated by excessive debt. But, the truth is, debt is a form of bondage. To borrow to live is to live a life of falsehood. Borrowing to live is to live a bloated life.

Maybe, you have been thinking of borrowing money somewhere to start a project. Please, read this article. Here, I want to highlight and explain the possible consequences of debt.


• Bondage

Proverbs 22:7
[7]The rich ruleth over the poor, and the borrower is servant to the lender.

Anyone who borrows has subjected himself to psychological and physical bondage. The Bible says the borrower is a servant to the lender. That is to say, the borrower has already made himself/herself a slave to his creditor.

I have heard of those who borrowed huge money and they couldn’t sleep well because they were unable to meet up to the date of their payment. I have heard of borrowers who have been rounded up by the Police because they could not pay up when the payment is due.

Don’t be deceived, debt is bondage. For instance, your mind will not be at rest, whenever you sight someone who you borrowed money from, which you have not leveled up. Your creditor can do whatever he likes with you if you cannot meet up with his date of payment of the debt. Don’t subject your mind to stress that you don’t deserve.

You can live a better life if you live debt-free. You’ll be able to go wherever you want to go without thinking of whether your creditor will be there or not. You can speak wherever you want to speak without being bound. You can spend your money without anybody castigating you for it. Don’t subject yourself to bondage by borrowing.

• No secret

2 Kings 6:5
[5]But as one was felling a beam, the axe head fell into the water: and he cried, and said, ALAS, MASTER! FOR IT WAS BORROWED.

A borrower has no privacy as he can be questioned by his creditor anytime and anyhow. One of the sons of the Prophet cried out that the ax was borrowed when it fell inside the waters. Nobody would have known it was borrowed until it fell.

That is how borrowers talk, they have no secret. Whenever they want to borrow they will need to tell their creditor what they want to use what they want to borrow for.

They will have no option than to share their future plans with their creditor. And do not forget that, it is not everyone you share your secret with that will help you. Some will use it to mock you. While some will discourage you.

A borrower is someone who needs to explain and always prove to his creditor how he spent his money. Such a person does not deserve to keep secrets if he does not want to harm himself.

Don’t be like one of sons of the Prophet whose mind was not at rest when he lost the axe. That is why many people have committed suicide when they lost the money they borrowed from someone. Be careful! You need to avoid going into debt so that all your life’s secrets will not be in the hands of your creditor.

• Debt prevents rest

When you are supposed to sit back and relax, once you remember the debt you need to pay up, you go back to work. Some people will work throughout the day and also do all-night work in order to pay up their debt.

That is why you need to live a debt-free life so that you can rest whenever your body deserves it. Debt is the one that says to you, “Get up and work.” God who created the whole universe, rested on the seventh day.

There are times to work, there are times to need to rest. But if you find yourself working throughout the day without getting enough rest because you want to pay up your debt. You have just done what is against the Scriptures. The Word says work and rest. Avoid debt for you to have the rest of mind and a rest from work.

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May the Lord bless you up to the level that you won’t need to borrow.

Written by
Tunde Korede
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