“Neither a borrower nor a lender be.” This was the advice given by Polonius to his son, Laertes, in Shakespeare’s play, “Hamlet”. Such an absolute position is far-removed from modern-day principles of financial management and investing. Borrowing has facilitated homeownership long before most individuals would otherwise be in position to own. While somewhat controversial today, college funding has helped many attend institutions that otherwise might not have been affordable. Auto loans have helped manage the timing of car purchases as well as increased the range of available enhancements. Borrowing comes with a cost that has trended higher but which simultaneously has meant a better return for lenders. The perspective here provides some thoughts on the use of debt across the economy with its implications for economic activity and financial markets.