Silly question....

bevo_2

Hi,

This is probably really basic stuff, but I've just read a thread on living off interest and came across the phrase 'stooze pot'. It seems to be a method of investing someone else's money and pocketing the interest? I've probably got it totally wrong and look forward to receiving the correct definition!

ffacoffipawb

bevo wrote:

Hi,

This is probably really basic stuff, but I've just read a thread on living off interest and came across the phrase 'stooze pot'. It seems to be a method of investing someone else's money and pocketing the interest? I've probably got it totally wrong and look forward to receiving the correct definition!

https://www.stoozing.com should tell you all you need to know.

grumbler

bevo wrote:

...a method of investing someone else's money and pocketing the interest?

Actually investing bank's or credit card company's money (sometimes to the same bank).

'REVENGE! Make Free Cash from Credit Cards' Martin's article

Also: http://stoozing.com/

Walletwatch

bevo wrote:

Hi,

This is probably really basic stuff, but I've just read a thread on living off interest and came across the phrase 'stooze pot'. It seems to be a method of investing someone else's money and pocketing the interest? I've probably got it totally wrong and look forward to receiving the correct definition!

Bevo

I agree with other observations that this is mainly used in the context of using advances on credit cards (not to be confused with cash advances, which are a big no-no in the stoozing world) at 0% interest and putting them in a high interest savings account and pocketing the interest. While that is the origin of stoozing, in my personal context, I have expanded it to align with your definition - I would include anything else like taking on company expenses on your credit card, and claiming it in advance of the actual debit to your card, thus giving you the float for a number of days.