‘Neither a Borrower Nor a Lender Be’ – Is Shakespeare Biblically Correct?
Word-Of-The-Day: ‘The rich rule over the poor, and the borrower is slave to the lender.’ (Proverbs 22:7); ‘The wicked borrow and do not repay, but the righteous give generously…’ (Psalm 37:21); ‘(19) Do not charge a fellow Israelite interest, whether on money or food or anything else that may earn interest. (20a) You may charge a foreigner interest, but not a fellow Israelite…’ (Deuteronomy 23:19-20a)
The saying ‘neither a borrower nor a lender be’ comes from William Shakespeare’s Hamlet. It sounds like good advice, but is it realistic? With the rise in personal debt, it is certain that many of us Believers have borrowed money in some form. Mortgages, car loans, and credit cards are often what most of us have and either use have used all of these instruments in our lives. Even the church has a mortgage on it that the congregation pays off incrementally on a monthly basis. There is also public debt that each American shares, either from our city, county, state or federal governments. Without such credit it is likely we would not have road improvements, parks or other amenities that we enjoy daily. Governments typically owe on municipal bonds that are issued to pay for long-term improvements, like sewage or water systems to replace septic tank or well water usage.
The Bible is clear how we should handle debt and how to lend. Many in the secular society do not take their debts seriously, and instead of repaying their loans as agreed upon they may default on them or declare bankruptcy so they no longer have to pay. In certain situations, where the person has taken all steps to try to pay but perhaps due to the loss of a job or health no longer has the ability it is understandable. Many, though, who have the ability to pay believe the companies they owe are greedy and stop payment; it is instead they would be greedy and are breaking their promise when they took out the loan that they would pay it all back.
When we go into debt, we are making an oath that we agree to the terms presented and we will pay back the lender the amount loaned, and if agreed upon with interest. Proverbs 22:7 states the borrower, to a degree, is a slave to the lender. One should have the attitude that before the fulfillment of our desires is the need to pay back our lender. After immediate needs to survive are met, the next need should be paying back what was borrowed. Psalm 37:21 tells us those who pay their debts as agreed upon are Righteous while those who borrow and not repay are wicked, as it is both stealing and deceitful not to make a payment as agreed upon. Debt should be structured to ensure one has the ability to make the payments on the loan.
Deuteronomy 23:19-20 discusses loans between Israelites; we can substitute ‘Israelites’ with ‘fellow Believers’ or ‘family members’ for today. If we offer to lend or help someone in our Church family or our ‘blood’ family, it should be done without consideration for making interest. Banks or credit card companies should not be villainized for charging interest, and if one lends money to a neighbor or a friend and places an interest rate on the loan it is acceptable. When I have lent money to others, regardless who it is I make it a point not to place an interest upon it, and I consider that the money may not be fully repaid so I am not angry if it is not repaid (though I would be disappointed). We do need to help our fellow Christians, using discernment and wisdom from the Lord to determine what we can provide and when.
Be wise when either borrowing money or lending it out, and never borrow or lend out more than you are willing or able to do. Debt is often necessary, but it is better to pay for things in full rather than to owe someone. A personal rule I have is to never borrow over what I have saved so if I need to repay the loan quickly (a lender like a credit card demanding payment-in-full, for example), which keeps the borrowed amounts low enough to not worry – and something wise the Lord has provided!
