What is meant by debt?

Debt specifically refers to an amount owed to a lender. It represents a financial obligation that one party has to another, typically involving the borrowing of funds with the promise to repay them at a later date, often with interest. This definition encompasses various forms of borrowing, such as personal loans, mortgages, and credit card balances, where the individual or entity receiving the funds is obligated to repay the lender according to the agreed-upon terms.

In contrast, other choices provide different financial concepts. Money saved in a bank account signifies savings or assets rather than an obligation, while assets owned by an individual represent ownership rather than debts. Funds available from a credit card can imply potential debt since they are borrowed funds, but they lack the specificity of defining what debt itself is in its most fundamental sense. Thus, "an amount owed to a lender" accurately describes the essence of debt.