The Borrower is Slave to the Lender – Why Financial Independence Matters.

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It is said that “the borrower is slave to the lender”. I bet you will agree that the pressure, and sometimes suffocatingly oppressive power, that debt can have over you can often be overwhelming. It can make you feel like a slave.

This article is about independence as a Biblical man. It is about “owing no man” and not being caught in the trap of financial bondage.

F.I. (Financial Independence) matters because otherwise, I will always be giving a piece of my independence away to someone else.

F.I. isn’t about being wealthy, it is about living within my means, and learning how to develop enough residual (and preferably passive) income to sustain a simpler lifestyle in reliance on the Lord.

In this article you will discover:

  • What to do when you realize you are enslaved by debt.
  • How to develop a “debt free” mentality.
  • How to get started on the debt free journey.
  • Resources for learning more about F.I. ( Financial Independence)

Borrower is slave to the lenderThe problem is, if you are feeling like the borrower that is slave to the lender, it’s because of the debt that you have in life, and you agreed to it. Yep! You walked right into it.

Perhaps you already know the Biblical reference to this topic, but just in case you don’t, here it is:

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

So, my guess is that you probably clicked on this article and have read it up to this point because, when you saw “the borrower is slave to the lender”, it resonated with you, like a sour chord that played off key in your soul. If that is true, then rest assured you are not alone.

I am not coming from a perspective of having achieved FI myself, but I am a fellow traveler on this journey beside you.

Although I may or not may not be further down the path than you, and my obstacles may be different than yours, if you are still reading this, then we are probably both heading for the same destination…financial independence.

What to do when you realize you are enslaved by debt.

When the realization of that scriptural principle hits you, “the borrower is slave to the lender”, it usually hits pretty hard because you are in debt, and feeling the squeeze. That squeeze should motivate you. Let it sink in, feel the restricting power of your debt. Are you ready to do something about it?

Borrower is slave to the lenderThe borrower is slave to the lender, and if you don’t do something about it, it’s going to get worse, not better. Someone once said that “if your outgo exceeds your income then your upkeep will be your downfall”.

For me, I have made a decision! I have decided that I don’t want to give any more of my liberty away. I don’t want money to own me. I want to be financially independent.

That doesn’t mean I want to be wealthy, and I’m certainly not motivated by greed. If anything, it was greed, covetousness, and materialism that got me into this mess. Always wanting bigger and better everything is what led me into the stranglehold of debt.

This sparked an enormous desire for me and my family to downsize and declutter our lives. Simple living and frugality have become super attractive to us. The value of contentment is quickly rising to the top of our list of virtues.

Romans 13:8 “Owe no man anything, but to love one another: for he that loveth another hath fulfilled the law.”

1 Timothy 6:6–12 “But godliness with contentment is great gain. For we brought nothing into this world, and it is certain we can carry nothing out. And having food and raiment let us be therewith content. But they that will be rich fall into temptation and a snare, and into many foolish and hurtful lusts, which drown men in destruction and perdition. For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows. But thou, O man of God, flee these things; and follow after righteousness, godliness, faith, love, patience, meekness. Fight the good fight of faith, lay hold on eternal life, whereunto thou art also called, and hast professed a good profession before many witnesses.”

From my perspective pursuing a lifestyle of financial independence isn’t about the love of money, it’s about learning money, it is about being free from the stranglehold that it has on so many people, and has had on me.

How to develop a “debt free” mentality.

I didn’t know it, but there is an entire FI community on the internet. All of them are sold out to the idea of being free from debt. If the borrower is slave to the lender, then what happens when we are not borrowers?

Borrower is slave to the lenderWhat happens when we are free to invest our extra income and secure our future? What happens when we are free to give generously to causes we believe in? That is FI.

Developing a debt-free and F.I. mentality doesn’t mean that you are currently debt-free, it means that you are making the decision to change your future.

For years I only really knew of Dave Ramsey and his Financial Peace University as the only organization out there that was focused on the concepts of FI. If you haven’t heard of Dave Ramsey then I would definitely recommend his materials for you to get started.

I went through his course and that is what really got me started on this journey of FI. It’s a great place to get started. But there is more…

On top of that, I think it’s important to plug into the other online communities that are always producing top-notch content on the subject.

Blogs (like this one), podcasts, and Youtube Channels on Financial Independence are a great way to get your mind clear and your life in gear.

How to get started on the debt free journey.

It’s a sobering thought that the borrower is slave to the lender, and one that should motivate you to take action. Financial independence is about liberty and taking back your financial freedom.

Here are a few thoughts on how to get started on the debt free journey:

  • Make a list of everything debt you owe, and how much it is.
  • Be sure to include the interest rate on each of those debts.
  • Order the list from smallest debt on the top, to the largest on the bottom.
  • Take some time to imagine what your life would be like, to be free from those debts.
  • Make a plan to get those debts paid off, starting with the smallest, and working your way up.

Resources for learning more about F.I.

Here are some other great blogs in the FI online community that will help you get plugged in, and find answers to the many questions that come up when pursuing financial independence.


While these resources are not faith-based, they are a wealth of knowledge in the online F.I. community. I would recommend you follow their blogs, join their Facebook groups, and listen to their podcasts. If you do, your financial stewardship will grow and be strengthened.

Books on the subject:

I hope this article has been helpful, and that the biblical idea that “the borrower is slave to the lender” has motivated you towards financial independence.

Stress by Debt

From Visually.




Don’t Love Money, Learn Money!