Timeline for What's the name for a group of people pooling fund every period then loaning the collected sum to a single member periodically?
Current License: CC BY-SA 4.0
8 events
| when toggle format | what | by | license | comment | |
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| Sep 5, 2022 at 3:25 | comment | added | keshlam | As long as everyone behaves themselves, the worst you can call it is harmless. The first time someone is late paying back the loan, the friendships are going to be severely strained. | |
| Sep 2, 2022 at 14:17 | comment | added | Criticizing Israel not allowed | It strikes me as something that is not useful if you can manage your own savings, as you said. There's not a lot of financial benefit. However... for people who are not so good with money, I can see it forcing them to stick to their savings plan as well as being a bit of fun. | |
| Sep 2, 2022 at 14:15 | comment | added | yoozer8 | Is the $1000 loaned to a member each 5-month period, or given? It sounds like each member will contribute 200/mo, then get that same 1000 back at the 5 month mark, then repeat (with some members getting the first 1k before contributing a full 1k). So if it is a loan, they are paying $1000 up-front for the privilege of then borrowing $1000. | |
| Sep 2, 2022 at 11:17 | history | edited | JTP - Apologise to Monica♦ | CC BY-SA 4.0 |
deleted 6 characters in body
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| Sep 2, 2022 at 10:55 | vote | accept | Kaki Master Of Time | ||
| Sep 2, 2022 at 10:25 | history | edited | Flux | CC BY-SA 4.0 |
Fixed typos; edited tags
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| Sep 2, 2022 at 10:14 | answer | added | Flux | timeline score: 3 | |
| Sep 2, 2022 at 9:55 | history | asked | Kaki Master Of Time | CC BY-SA 4.0 |