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Repaying Meaning: Definition, Examples, and Translations

๐Ÿ’ฐ
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repaying

[rษชหˆpeษชษชล‹ ]

Definition

Context #1 | Verb

financial obligation

Repaying refers to the act of paying back money that was borrowed or owed to someone. It encompasses various forms of settling debts, whether through installments or a lump sum. Prompt repayment is often crucial for maintaining a good credit rating if it involves loans.

Synonyms

discharging, reimbursing, returning, settling.

Examples of usage

  • She was repaying her student loans diligently.
  • He promised to start repaying the money he owed next month.
  • They set up a plan for repaying their mortgage early.

Translations

To see the translation, please select a language from the options available.

Interesting Facts

Culture

  • In many cultures, repaying debts is seen as a moral duty, and failing to do so can lead to social ostracism.
  • The concept of repaying kindness is often summarized in the saying, 'What goes around, comes around,' reflecting a belief in karmic justice.
  • In literature, stories often focus on themes of repayment, whether itโ€™s a hero's journey or the redemption of a character through acts of kindness.

Psychology

  • Studies show that the act of repaying debts can reinforce feelings of trust and reliability between individuals.
  • The 'reciprocity norm' suggests that humans are inclined to return favors, which can strengthen social bonds and community ties.
  • Feeling indebted can trigger a sense of anxiety; thus, the act of repayment can provide relief and restore emotional balance.

History

  • Throughout history, various civilizations have developed systems of debt and repayment; ancient Mesopotamians even had written records of debts on clay tablets.
  • The concept of 'usury' has been debated for centuries, as charging interest on loans posed ethical questions regarding repayment.
  • The Great Depression highlighted issues of debt as many individuals faced challenges in repaying loans, leading to reforms in banking practices.

Finance

  • In personal finance, the importance of repaying debts promptly is emphasized to maintain a healthy credit score.
  • Government policies often encourage repaying student loans, with various repayment plans designed to assist borrowers based on income.
  • Credit card companies typically offer rewards for paying off balances on time, reflecting a strategy to encourage responsible repayment habits.

Origin of 'repaying'

Main points about word origin

  • The word 'repay' comes from the Old French 'repayer,' meaning 'to pay back,' and is rooted in Latin as 'repagare,' which means 'to pay again.'
  • The prefix 're-' suggests repetition, while 'pay' is linked to the concept of giving money or rewards.
  • In modern usage, 'repay' has become common not only in financial contexts but also in moral or social obligations.

The word 'repay' originates from the Middle English term 'repaien,' which itself derives from the Old French 'repaier.' This etymology can be broken down into the prefix 're-' meaning 'again' and 'payer' meaning 'to pay.' Thus, the literal translation of 'repay' implies 'to pay again.' The concept of repayment has been essential throughout history, reflecting the social and economic practices of lending and borrowing. As societies evolved, so did the mechanisms of repayment, leading to formalized systems of loans and credit, making the term increasingly relevant in financial discussions.

Word Frequency Rank

Positioned at #23,854, this word is part of extensive vocabulary. It's relatively rare in general usage but may be important in specific fields or formal writing.