Debt and credit thats what life is about

Many people around the world are very familiar with the words debt and credit; these two words play a vital role in every ones life no matter what the circumstances are. Debt stands for owing, which means that your have to pay some one. Credit means that you have an amount that is available for you to utilize, for example there are card companies that offers you a credit limit to spend, which has be repaid after some time with interest.

As a matter of fact we all are victims of debt and credit in the world to day. Most of us have loans which we take credit to either buy a house, car or for other financial purposes and in return we end up in debt, paying back the credit amounts on a monthly basis for perhaps the rest of our ;lives.