A debit is a financial transaction that reduces the balance in a bank account. When you use a debit card, for example, the money is directly withdrawn from your checking account to pay for goods or services. This means you can only spend what you have, helping to avoid debt. In accounting, a debit entry increases assets or expenses and decreases liabilities or equity. Each transaction involves a debit and a credit, ensuring that the accounting equation remains balanced. Understanding debits is essential for managing personal finances and maintaining accurate financial records in businesses.