Definition
paydowns
noun
- Plural of paydown; reductions in the amount of debt owed, typically through regular payments.
Usage: commonly used in finance and personal finance contexts; often refers to mortgage paydowns, loan paydowns, or credit card paydowns
Examples
- The homeowners made aggressive paydowns on their mortgage to become debt-free faster.
- Credit card paydowns help improve your credit score over time.
- The company announced significant paydowns of its long-term debt.
- Monthly paydowns on student loans can be adjusted based on income.
- Strategic paydowns of high-interest debt should be a priority in any budget.