“Neither a borrower nor a lender be.†This is a basic biblical principle that many people grew up hearing. It was usually used when someone gave money to a friend or family member (although RARELY brought up when getting a mortgage). But is this really the way the bible views finances?
The quote actually comes from Shakespeare – Hamlet to be exact. The Scripture actually tells believers that they will ‘lend and not borrow.’ (Deuteronomy 28:12). There are also several different scriptures that specifically condemn charging brothers interest.
There is a good reason why the Bible teaches against the practice of borrowing money. The lender is always in control. When you borrow money, you are locked into a relationship with the lender and are limited to your obedience to God. After all, if you have committed to pay back this loan then you can’t follow God’s direction to leave your job to go on a mission trip (or just to change to a job that pays less money).
At the same time, if you lend money with a dependence on getting that money back then you are controlled by the financial situation as well. If you are not in a position to forget about the money then you need to hold on to the money that you have.
Although the principle for to neither borrow nor lend money is a wise one, it’s not a biblical one. The bible tells you not to borrow, but lending is optional. Be sure that you can walk away from the money if you do decide to give loans to your brothers. And always lend to non-believers in a prayerful manner.