Good morning! It is very hard to live debt free in the American society. They make it very easy to be in debt and stay in debt to live a comfortable life with everything we want. Even zero percent interest for up to sixty months.
Yes, sometimes it is smart financing to go zero interest, but what happens if you cannot afford the payment one month? Interest goes to nearly thirty percent or the entire balance is due. Not so smart financing after all.
This is why it is important to do your best not to owe anyone anything. It may be somewhat unavoidable to get a mortgage or car loan, but the newest phone, TV or other optional item is not as necessary as we make them out to be. Debt is a financial seed eater.
This is the modern context, but the context in the time of this verse was a bit different. The principle is the same and that is owe no one anything so they do not enslave you. We are all in debt to Christ for His love for us to set us free from sin. Let us owe Him to love others and be the debt we try to repay every day as we go about our lives and make a great day!