Understanding Indebtedness: What It Means and How to Manage It

To be indebted means to owe money or resources to someone else. It can also refer to the state of being in debt, which is a situation where one owes more money than they have available to pay back.

For example, if you borrow $100 from a friend and promise to repay them later, then you are indebted to your friend for $100. Similarly, if you buy something on credit and don't pay it off right away, then you are indebted to the store or lender for the amount you owe.

Being indebted can be a stressful situation, as it can be difficult to make ends meet when you have to prioritize paying back debts over other expenses. However, there are ways to manage debt and get out of it, such as by creating a budget, negotiating with creditors, or seeking the help of a financial advisor.