pay down
Chip away at
To pay down a debt is to reduce it through payments, typically over time: We've been paying down the mortgage for five years.
The phrase emphasizes gradual reduction rather than full repayment—you pay down what you can't pay off.
A pay-down is the amount by which debt has been reduced.
- reimburseReturn money owed
- amortizeGradually extinguish a debt
- liquidateConvert assets to currency
- settleReach final terms
- balanceSteadiness or amount owed
outstanding balance · cash · reduce · debt · loan · student loans · car loan · deleverage · principal · debt-to-income ratio · arrears · solvency · equity · installment · fiscal responsibility · promissory note · interest · mortgage
financial behavior
pay downoverspend
Spend beyond means
live beyond one's means · max out · splurge · dig oneself into a hole · overextend
pay, down, pays, paid, paying, payable, payer, payee, payment