I have seen it used so often since I returned to SA and I am finding it hard to identify what it truly means. I am probably pretty dumb to not know this but hey, there is always the ignorant one in the family right?!?!
Ok, so call me stupid but..CAN SOMEONE TELL ME WHAT A SNOWFLAKE IS?
April 3rd, 2014 at 02:39 pm
April 3rd, 2014 at 02:41 pm 1396536116
My understanding: small dribbs of money that fall into our lives, which aren't from regular sources, that can be used to "snowball" debt payments or another designated purpose.
April 3rd, 2014 at 02:46 pm 1396536386
http://www.savingadvice.com/forums/general-discussion/71339-what-snowflake.html
Basically a snowflake is any money that isn't part of your regular income. Many snowflakes become a snowball that you can use to pay off your debt [increase your savings, investments, whatever your financial goal is].
People define it differently depending on their situation. These are some of the things I've seen called snowflakes: Loose change, coins you find on the ground, credit card rebates, gift cards (when they're used), coupon savings, grocery store 'shopper card' savings, money from side jobs (paid surveys, Swagbucks, etc.), money from selling stuff, etc.
Lots of other suggestions for finding snowflakes here:
http://www.savingadvice.com/articles/2012/01/11/108655_debt-snowflake-snowflaking-your-debt-away.html
April 3rd, 2014 at 02:46 pm 1396536388
You, too, Doingitallwrong!
April 3rd, 2014 at 03:12 pm 1396537975
My take is that the debt snowball are regular debt payments that turn around and get snowballed onto the next debt. So, the snowflakes are just more random and irregular money to throw at debt.
Though I decided to throw them at an investment account, so maybe "snowflake" isn't the appropriate term. But whatever, it is what I Am used to calling small extra sums of money.
April 3rd, 2014 at 04:33 pm 1396542809