Possibly a stupid question, but . . .

Squidgy

. . . what is snowballing?

Squidgy x

debtbuster2K5

Hi Squidgy

Not a stupid question.

See http://forums.moneysavingexpert.com/showthread.html?t=68315 for more details

Regards

elvis_bloggs

The financial definition for Snowballing:

Used in the context of general equities. Process by which the exercise of stop orders in a declining or advancing market causes further downward or upward pressure on prices, thus triggering more stop orders and more price pressure, and so on.

Or...a game of throwing snowballs at each other.

nearlyrich

Hey there is no such thing as a stupid question,there's always someone hoping that someone else will ask cos they don't know either!

If you are going to snowball against your debts have a look at the what's the cost website where there is a wicked calculator...shows you how quickly you can pay it all off and how much you can save by getting it right or how much more it will cost in interest if you don't.:money:

elvis_bloggs

Advice = Pay off all debts as quickly as possible.

Squidgy

Thanks guys. When you explained it I knew what you meant, but didn't know what the term for it was.

Not something I can do at the moment as have no spare cash!