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The concept of leveraging one's present resources for future gain is a fundamental principle in finance. This involves the act of borrowing or purchasing with the commitment to repay at a later time. This promise to pay, also known as debt, grants an individual the flexibility to defer payment and utilize their resources in the present, while still being able to fulfill their financial obligations in the future. This practice is crucial in managing financial resources and achieving long-term goals.

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A comprehensive resource containing definitions and explanations of terms, concepts, and jargon used
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