Bae- it stands for "before anyone else." That refers to a relationship. Basically it is your first boyfriend or girlfriend so in those terms you would call them Bae.
The most important person whom you think about 24/7 you talk with them everyday of the week for months on end. They can be close or far but the only thing that truly matters is the feeling that you and your "bae" share.
Guy 1: I would do anything and everything for my bae!
Guy 2: Shut up about her that's all you talk about
Guy 1: I will never do that, because my bae deserves only the best
Bae is a word used by people to refer to their significant other. Bae stands for "Before Anyone Else", which is why it has become such a popular term as it is used to represent strong meaning and affection in a short word that can be texted easily.