Merriam-Webster's Word of the Day for January 1, 2026 is:

amortize • \AM-er-tyze\  • verb

To amortize something, such as a mortgage, is to pay for it by making regular payments over a long period of time.

// If you apply extra payments directly to your loan balance as a principal reduction, your loan can be amortized sooner.

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Examples:

“As part of some of the league’s commercial deals—where companies pay the league for rights of some sort—the NFL has received equity or warrants. … The warrants are priced at fair market value on the date of vesting and amortized over 10 years.” — Jacob Feldman and Eben Novy-Williams, Sportico, 5 Aug. 2025

Did you know?

When you amortize a loan, you figuratively “kill it off” by paying it down in installments, an idea reflected in the etymology of amortize. The word comes ultimately from a Latin word meaning “to kill” that was formed in part from the Latin noun mors, meaning “death”; it is related both to murder and a word naming a kind of loan that is usually amortized: mortgage. The original use of amortize dates to the 14th century, when amortizing was about transferring ownership of a property to a corporation, and especially to an ecclesiastical corporation—that is, a corporation consisting wholly of clergy. Such land was said to be in mortmain, which under the feudal system meant that the property was permanently exempt from a lord’s usual payment collections. Mortmain is of course another mors word. Its second syllable comes from Latin manus, meaning “hand,” the implication being that the property was held in the dead hand of a corporation—a hand incapable of paying out.