debt
DET
/dɛt/
A sum of money that is owed or due.
Can refer to a specific amount or the general state of owing money. It implies an obligation to repay.
The story behind the word. The word 'debt' comes from the Old French 'dete' (later 'dette'), which itself originated from the Latin 'debitum,' meaning 'thing owed.' This Latin root is from 'debere,' meaning 'to owe.' Interestingly, the 'b' in 'debt' was reinserted in English spelling in the 16th century to reflect its Latin origin, even though it remains silent in pronunciation.
Word relationships
- obligation: Broader term, can be financial or moral; 'debt' is specifically financial.
- liability: Often used in accounting or legal contexts for financial obligations, can also refer to something disadvantageous.
- arrears: Specifically refers to money that is overdue and unpaid.
- asset: Something owned that has value, as opposed to something owed.
- credit: Money available to a person, or the ability to borrow money.
Commonly confused with
- loan: 'Debt' is the state of owing; a 'loan' is the money given that creates the debt.
Word family
- debtor (noun): A person or entity that owes money.
- indebted (adjective): Owing money or gratitude.
Collocations
- heavy debt
- accumulate debt
- pay off debt
- debt burden
- debt crisis
- consumer debt
Idioms & expressions
- in debt
- up to one's ears in debt
- debt of gratitude (figurative, non-financial)
Example sentences
- "The national debt reached an unprecedented level, sparking concerns about future economic stability." Discussing national finances.
- "He was determined to pay off his student loan debt before starting a family." A character reflecting on personal finances.
- "The company's long-term debt increased by 15% in the last fiscal quarter." From a financial report.
Memory hook
Remember the silent 'b' in 'debt' as a 'b'urden you 'b'ear, a financial 'b'urden. Silent 'B' Burden
When not to use
Do not use 'debt' to refer to a moral obligation or a favor; it specifically implies a financial or material obligation.
Fun facts
- The silent 'b' in 'debt' and 'doubt' was added in the 16th century by scholars who wanted to make the words look more like their Latin ancestors, 'debitum' and 'dubitare,' respectively.
- Historically, debt could lead to imprisonment or even slavery in some societies.
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