Debt is an amount of money borrowed by one party (borrower) from another (lender). A debt arrangement allows the borrower to pay the money owed back at a later date, most often with interest. Financial institutions are the most common lenders that have heavy lending regulations. There are also private lenders that have less stringent rules and thus, often have much higher interest rates. There is both good and bad debt. Some will help you build and maintain a credit score while others will hurt your score and borrowing power. If ignored debt can have serious effects not only financially but can work it’s way into dividing relationships. There is no shame in having to accrue debt, most have debt in some form. The only shame is not asking for help when you need it.