Why older Americans are taking on more debt

Older Americans are accumulating more debt as they near retirement, according to recent research that reveals a troubling trend in personal finance among people in their 50s and early 60s.

Call for 'debt driving licence'

People borrowing money for the first time should only be given small amounts until they have proved their competence, a new study says.

The UK government's COVID spending may lead to inflation

The UK government is spending an enormous amount on COVID-19 - supporting the health service, helping to relieve the suffering of those who have lost their incomes, and helping businesses keep afloat.

Impact of COVID-19 in Africa: A severe setback for development

COVID was late to arrive in Africa, with initial infection and death rates lower than elsewhere in the world. Community transmission is however now accelerating in most countries, with lack of safe water as a major contributing ...

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Debt

A debt is an obligation owed by one party (the debtor) to a second party, the creditor; usually this refers to assets granted by the creditor to the debtor, but the term can also be used metaphorically to cover moral obligations and other interactions not based on economic value.

A debt is created when a creditor agrees to lend a sum of assets to a debtor. Debt is usually granted with expected repayment; in modern society, in most cases, of the original sum plus interest.

In finance, debt is a means of using anticipated future purchasing power in the present before it has actually been earned. Some companies and corporations use debt as a part of their overall corporate finance strategy.

This text uses material from Wikipedia, licensed under CC BY-SA