(Proverbs 22:7 KJV) The rich ruleth over the poor, and the borrower is servant to the lender.
It has been a long time since I was living hand-to-mouth. As I approach retirement I can’t guarantee that the time will never come again. At the same time I discovered early in life that the problem with borrowing is that you need to pay it back. Some people never learn that. As a result their credit cards are to the max and if they own a home they have an equity line of credit that will keep them from paying it off in this life time.
In spite of that I can only think of one time I had to make a panic loan and for that I turned to my parents. The Bible is clear: Stay out of debt.
The NASB makes this a stronger statement than the KJV. The Hebrew and Greek words that are translated “servant” can also be translated “slave”. There was not much difference. Both lived at the whim of their master. Neither had much wiggle room in their lives. Compare that to the modern American who works to pay the interest on their plastic. Compare that to the American nation that is living on deficits. It leads to slavery whether you want to call it that or not.
So? Bite the bullet. Tighten your belt. Clip coupons. Shop thrift stores. Drive old cars. Keep yourself free so that God can use you when the time it right.