The phrase "debt matters" refers to the importance and significance of managing debt responsibly. It implies that how a person handles their debts can have a significant impact on their financial well-being, credit score, and overall quality of life. Debt matters because it involves borrowed money that must be repaid with interest, and failure to do so can result in negative consequences such as collection actions, damaged credit, or even bankruptcy. Therefore, being mindful of one's debt levels, paying bills on time, and managing finances wisely are all important factors in ensuring that debt matters in a positive way.