Definition
paydown
noun
- a reduction in the amount of money owed, especially on a debt or loan
Usage: commonly used in finance and economics
Examples
- The company announced a significant paydown of its long-term debt.
- Making a large paydown on your mortgage can save you thousands in interest.
- The government's paydown of federal debt was slower than expected.
- She used her bonus to make a paydown on her student loans.
- The bank encouraged customers to make regular paydowns on their credit card balances.
- A paydown strategy helped the family become debt-free within five years.