Have you ever loaned money to friends or relatives? Or have either friends or relatives asked you to loan them money? Or perhaps you were the one asking for the loan. If you loaned them money or borrowed money from friends or family, have you noticed that the relationship between you and them has changed? Did they fail to repay the loan? Have you repaid the loan? If so, you are not the only one in this situation. Many people routinely fail to repay loans to family or friends. Oftentimes, it’s not because they don’t want to repay the loan. It’s because they just don’t have the money.
When you loan or borrow money from friends or relatives, you are changing the relationship between yourself and them. You are no longer just a friend or a relative. You are now in a master and slave situation. Proverbs 22:7 tells us that the borrower is a slave to the lender.
Proverbs 22:7New International Version (NIV) – ” The rich rule over the poor,and the borrower is slave to the lender.”
The Bible cautions us about lending money.
Deuteronomy 23:19-20 ESV – “You shall not charge interest on loans to your brother, interest on money, interest on food, interest on anything that is lent for interest. You may charge a foreigner interest, but you may not charge your brother interest, that the Lord your God may bless you in all that you undertake in the land that you are entering to take possession of it.”
God is very aware of the change in the relationship when you loan or borrow money. Friends or relatives who owe you money might start to avoid you because they feel guilty that they cannot repay you. If you’re the borrower, you find yourself avoiding your friends or relatives who have loaned you money.
Instead of loaning money, give the money to them if you can afford to do so. Otherwise, be kind and gently tell them that you do not want to cause strive between them and you. Offer to give them whatever amount you can afford to give them. Remember that God knows what is best for us. He has given us clear instructions in His Word about borrowing and lending money. Be a generous giver when you can.