Rollover for Dummies

Rollover is a word that is typically used when talking about vehicles, but it can also have other meanings depending on the context. Let's start with the definition that relates to vehicles, as that is probably the most familiar one. Have you ever seen a car or a truck that has flipped over onto its roof or its side? That is called a rollover. So, when we say a vehicle has rolled over, it means it has turned upside down or on its side.

Now, let's move on to another meaning of rollover that is not specifically related to vehicles. Sometimes, when we borrow money from a bank or a friend, we need to pay it back over time. Imagine you borrowed some money from your friend to buy a toy, and your friend says that you need to pay them back in installments, which means you pay them a little bit each month. But what if you still have some money left to pay at the end of one month? In that case, some banks or friends might allow you to roll over the leftover money to the next month. This means they don't expect you to pay it all at once, but they let you continue paying it off in smaller amounts over a longer period of time. Think of it like a snowball rolling down a hill, getting bigger and bigger as it goes.

So, to sum it up, rollover can mean two different things. First, it can refer to a vehicle flipping over onto its roof or side. Second, it can mean extending the time to pay back money by adding the remaining amount to the next payment period. Hopefully, this explanation clarifies what rollover means. If you have any more questions or need further examples, feel free to ask!