Newly Coined Words in Personal Finance

Lisa23 · 03-02-2008, 11:55 AM

Here's some below. To see the full article at my blog, click here
Lisa
Drama-pricev.
To lower the price of a house so as to attract the attention of buyers. Also a noun.
Exploding ARMn.
An adjustable rate mortgage with rates that soon rise beyond a borrower’s ability to pay. Forever stamp n.
A United States postage stamp that will cover a first-class letter regardless of future price increases.
Make it rainv. phr.
To drop paper money on a crowd of people, especially in strip clubs, nightclubs or casinos.
Maternal profilingn. Employment discrimination against a woman who has, or will have, children. The term has been popularized by members of MomsRising, an advocacy group promoting the rights of mothers in the workplace.
Ninja loann.
No Income, No Job or Assets. A poorly documented loan made to a high-risk borrower.
Stoozing n. The practice of borrowing money from a credit card during the card's introductory no-interest period and then investing that money to earn the interest as a profit.
—stoozer n.
—stooze n.

Solinvicta · 03-02-2008, 12:22 PM

The "latte effect" seems to be one personal finance term that's almost impossible to escape these days.

I'd heard of the practice of stoozing, but not the word. And, I haven't heard of "making it rain" before in this context. I guess that's one side benefit of inflation. If somebody tried to "make it rain" back when coins were worth something, there'd be a lot more injuries...

Looby · 03-02-2008, 02:42 PM

I think the term Stoozing for the practice of credit card arbitrage is more commonly used in the UK where it has been used for about 4 years. I've heard of ninja bills but not ninja loans. In the UK stamps are technically all forever stamps, printed as either first or second class.

KelR1 · 03-06-2008, 01:18 AM

Boy, I wish someone would "make it rain" on me. Without me having to strip, of course!

Solinvicta · 03-06-2008, 03:46 AM

Hmm...actually, it might not be worth the injuries:

" A Web site's promotional Leap Day cash giveaway turned into a free-for-all as restless recipients mobbed the organizers and trampled one another to get at the loot. Shouting "Make it rain!" and "Give me my money!," a restless crowd converged on the costumed CashTomato.com representatives... Then the giveaway degenerated into a melee. "

(rest of the story)

Milehimama · 03-08-2008, 03:51 PM

I've heard a new word - Snowflake. It's a take on Dave Ramsey's debt snowball. A snowflake is a very small amount applied one at a time until it reaches snowball size. (Like, the change found on the floor of your car, etc.)

KelR1 · 03-13-2008, 09:42 PM

Solinvicta:

Good point! The resulting ER bill would outweigh any of the cash I could grab. lol

I just heard another new term on the show "Maxed Out" (on the Style Network. Anyone else watch that?) On an episode the other night one of the participants said she and her husband were doing "ostrich financing" where they stick their head in the sand and hope their financial troubles go away.

Milehimama · 03-15-2008, 05:00 PM

I just caught that show today. I think it's better than that other show with the bald guy (what was his name?)

Honestly, though, it is amazing how clueless some people are. One couple was spending $3000 MORE than they made per month. It just boggles my mind! We net about $4000 a month - that's almost three quarters of our monthly budget that they were spending OVER their normal expenses! For TWO people!

I think they need to go to the Mama school of finance. Open coffee can. If it's empty, eat beans from the pantry and play Scrabble. LOL.

KelR1 · 03-15-2008, 10:32 PM

Mama school of finance - I love it!

The stories on shows like Maxed Out, Suze Orman, Dave Ramsey, Oprah, etc., that always freak me out are the ones where spouses managed to hide tens of thousands of dollars in debt from one another! I can't even begin to imagine how it gets so bad without the other person knowing. And I know that I would be absolutely furious if my husband did that (and vice versa!).

rachael24 · 03-17-2008, 07:42 AM

LOL I would be furious also. Im hoping that never happens to me or any of us in here!

03-02-2008, 11:55 AM	#1
Lisa23 Senior Member Join Date: Feb 2008 Location: Massachusetts, USA Posts: 118 Thanks: 0 Thanked 1 Time in 1 Post Reputation: (18)	Newly Coined Words in Personal Finance Here's some below. To see the full article at my blog, click here Lisa Drama-pricev. To lower the price of a house so as to attract the attention of buyers. Also a noun. Exploding ARMn. An adjustable rate mortgage with rates that soon rise beyond a borrower’s ability to pay. Forever stamp n. A United States postage stamp that will cover a first-class letter regardless of future price increases. Make it rainv. phr. To drop paper money on a crowd of people, especially in strip clubs, nightclubs or casinos. Maternal profilingn. Employment discrimination against a woman who has, or will have, children. The term has been popularized by members of MomsRising, an advocacy group promoting the rights of mothers in the workplace. Ninja loann. No Income, No Job or Assets. A poorly documented loan made to a high-risk borrower. Stoozing n. The practice of borrowing money from a credit card during the card's introductory no-interest period and then investing that money to earn the interest as a profit. —stoozer n. —stooze n.

03-02-2008, 12:22 PM	#2
Solinvicta Member Join Date: Feb 2008 Location: Sandy Hook, CT Posts: 79 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (12)	The "latte effect" seems to be one personal finance term that's almost impossible to escape these days. I'd heard of the practice of stoozing, but not the word. And, I haven't heard of "making it rain" before in this context. I guess that's one side benefit of inflation. If somebody tried to "make it rain" back when coins were worth something, there'd be a lot more injuries... Last edited by Solinvicta; 03-02-2008 at 12:23 PM. Reason: typo!

03-17-2008, 07:42 AM	#10
rachael24 Member Join Date: Mar 2008 Location: Binghamton, NY Posts: 35 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (10)	LOL I would be furious also. Im hoping that never happens to me or any of us in here! __________________ Recent Finance graduate with a concentration in debt counseling.

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03-02-2008, 02:42 PM	#3
Looby Member Join Date: Jan 2008 Posts: 74 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (14)	I think the term Stoozing for the practice of credit card arbitrage is more commonly used in the UK where it has been used for about 4 years. I've heard of ninja bills but not ninja loans. In the UK stamps are technically all forever stamps, printed as either first or second class.

03-06-2008, 01:18 AM	#4
KelR1 Member Join Date: Mar 2008 Posts: 56 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (10)	Boy, I wish someone would "make it rain" on me. Without me having to strip, of course!

03-06-2008, 03:46 AM	#5
Solinvicta Member Join Date: Feb 2008 Location: Sandy Hook, CT Posts: 79 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (12)	Hmm...actually, it might not be worth the injuries: " A Web site's promotional Leap Day cash giveaway turned into a free-for-all as restless recipients mobbed the organizers and trampled one another to get at the loot. Shouting "Make it rain!" and "Give me my money!," a restless crowd converged on the costumed CashTomato.com representatives... Then the giveaway degenerated into a melee. " (rest of the story)

03-08-2008, 03:51 PM	#6
Milehimama Senior Member Join Date: Jan 2008 Posts: 116 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (13)	I've heard a new word - Snowflake. It's a take on Dave Ramsey's debt snowball. A snowflake is a very small amount applied one at a time until it reaches snowball size. (Like, the change found on the floor of your car, etc.)

03-13-2008, 09:42 PM	#7
KelR1 Member Join Date: Mar 2008 Posts: 56 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (10)	Solinvicta: Good point! The resulting ER bill would outweigh any of the cash I could grab. lol I just heard another new term on the show "Maxed Out" (on the Style Network. Anyone else watch that?) On an episode the other night one of the participants said she and her husband were doing "ostrich financing" where they stick their head in the sand and hope their financial troubles go away.

03-15-2008, 05:00 PM	#8
Milehimama Senior Member Join Date: Jan 2008 Posts: 116 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (13)	I just caught that show today. I think it's better than that other show with the bald guy (what was his name?) Honestly, though, it is amazing how clueless some people are. One couple was spending $3000 MORE than they made per month. It just boggles my mind! We net about $4000 a month - that's almost three quarters of our monthly budget that they were spending OVER their normal expenses! For TWO people! I think they need to go to the Mama school of finance. Open coffee can. If it's empty, eat beans from the pantry and play Scrabble. LOL.

03-15-2008, 10:32 PM	#9
KelR1 Member Join Date: Mar 2008 Posts: 56 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (10)	Mama school of finance - I love it! The stories on shows like Maxed Out, Suze Orman, Dave Ramsey, Oprah, etc., that always freak me out are the ones where spouses managed to hide tens of thousands of dollars in debt from one another! I can't even begin to imagine how it gets so bad without the other person knowing. And I know that I would be absolutely furious if my husband did that (and vice versa!).