debt

/dɛt/noun

An amount of money that a person or organization must pay back to someone else, usually after borrowing.

Example sentences

“It took them five years to pay off the debt on their car.”
“Many students graduate with thousands of dollars in debt.”

The b is silent; scholars inserted it to echo the Latin 'debitum'. 'In someone's debt' means owing gratitude, not money.

Related words

savingsMoney that has been set aside and kept for future use.creditAn arrangement that lets you buy something now and pay for it later.invoiceA document a seller sends to a buyer listing the goods or services supplied, their quantities, and the amount owed.coinA small flat piece of money, usually a metal disc, though sometimes many-sided or with a hole through the centre.checkoutThe point or process where you pay for goods at a store or sign out items at a library.walletA small flat holder, usually leather, for carrying cash, bank cards, and similar items.