These are Paul’s careful instructions on how to walk in wisdom and on how to make the most of the time that we have as Christians here on Earth. This section of scripture deals with relationships. Relationships are hard. So it is very important that we read this section carefully and not just grab sections to use out of context This scripture is also one of the sections of scripture that has been most abused throughout the history of the church.
Though this section of scripture does mention wives submitting to husbands, it is not an excuse for the abusive relationships that people have tried to validate using this scripture. It needs to be noted that this is the same instruction given in verse 21 to ALL Christians. We all need to submit to each other even including wives to their Christian husbands and husbands to their Christian wives. Though this section of scripture does mention slaves and masters, it is not an excuse to condone slavery. Slavery in these times was most often in the form of fulfilment of financial dept. Paul speaks of working with honor in the position you are in. Paul, writing from prison, speaks to being an example of Christianity in whatever position you are in life for time is short. Though Paul does say that if you have the opportunity to exit out of slavery, to take that opportunity.