Incurring: meaning, definitions and examples

financial responsibility

Incurring refers to the act of becoming subject to something, especially a liability or consequence. It typically implies that an individual or entity has taken on a responsibility or obligation, often related to finances. For example, when a person takes out a loan, they are incurring debt. The term can also relate to risks or penalties that arise from actions taken, indicating that certain choices lead to inevitable obligations.

accruing, assuming, undertaking

Examples of usage

• Incurring debt can impact your financial future.

• The company is incurring significant expenses this quarter.

• Incurring penalties for late payments can be avoided with timely actions.