Entry in progress—B.P.
 
The proverb is cometimes credited to John Ray’s 17th century book of English proverbs, but it does not appear there.
   
Google Books
The Salt-Cellars:
Being a collection of proverbs, together with homely notes thereon
By Charles Haddon Spurgeon
New York, NY: A.C. Armstrong and Son
1889
Pg. 325:
Loans and debts make worries and frets.
 
Google Books
A Book of Quotations, Proverbs and Household Words;
A collection of quotations from British and American authors, ancient and modern; with many thousands of proverbs, familiar phrases and sayings, from all sources, including Hebrew, Arabic, Greek, Latin, French, German, Spanish, Italian, and other languages
By Sir William Gurney Benham
Philadelphia, PA: J.B. Lippincott
1907
Pg. 820:
Loans and debts make worries and frets.
   
Google Books
His Better Self; a novel
By Thomas J. Hughes
Akron, OH: The Saalfield Pub. Co.
1910
Pg. 464:
It is better to keep out of debt altogether, for ‘loans and debts make worries and frets,’ and ‘anything is better than being a debtor.’
   
Google Books
The Folly of Instalment Buying
By Roger Ward Babson
New York, NY: Frederick A. Stokes Co.
1938
Pg. 106:
“A man in debt is caught in a net; yes, loans and debts make worries and frets.” — John Ray
 
Google Books
How to Get Married and Survive It:
A planning guide for weddings and receptions
By Jean Decker Crowther and Beth L. Hilton
Bountiful, UT: Horizon Publishers
1998
Pg. 25:
Loans and debts make worries and frets.
—W. G. Benham