What is another word for incurs debt?

Pronunciation: [ɪnkˈɜːz dˈɛt] (IPA)

When we say that someone incurs debt, it simply means that they have taken a loan or borrowed money that they have to repay back. There are several synonyms for the phrase incurs debt, such as incurring a liability, accumulating borrowings, taking on financial obligations, contracting debts, or assuming indebtedness. Incur debt is a commonly used term in finance and accounting, but using different phrases might help to clarify the concept or to avoid repetition in speech or writing. Understanding the different synonyms for incurring debt can help a person communicate financial jargon more effectively, which is especially useful for business executives, financial analysts, or accountants.

What are the hypernyms for Incurs debt?

A hypernym is a word with a broad meaning that encompasses more specific words called hyponyms.

What are the opposite words for incurs debt?

The antonyms for the phrase "incurs debt" could be "avoids debt" or "eliminates debt". Someone who avoids debt might only spend money they have saved, choose not to use credit cards, or live within their means. While eliminating debt may involve strategies such as paying off credit card balances, using a budget to reduce spending, or consolidating loans to make payments more manageable. For businesses or governments, avoiding debt could mean operating on a cash-only basis. Alternatively, eliminating debt would involve paying off any outstanding loans or bonds and maintaining a balanced budget. Ultimately, avoiding or eliminating debt can lead to financial stability and peace of mind.

What are the antonyms for Incurs debt?

Related words: debt management, how to manage debt, debt help, can I get out of debt, what is the best way to manage debt, how do I manage my debt

Related questions:

  • Who is the best debt manager?
  • How does a debt management plan work?
  • What is the best way to manage debt without going bankrupt?
  • Word of the Day

    inconstructible
    The word "inconstructible" suggests that something is impossible to construct or build. Its antonyms, therefore, would be words that imply the opposite. For example, "constructible...