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Rotating Savings Groups
 

Rotating Savings Groups

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    Rotating Savings Groups Rotating Savings Groups Presentation Transcript

    • Rotating Savings Groups (will change the way you save your money)Sunday, June 17, 12
    • what are they?Sunday, June 17, 12
    • Rotating Savings Groups are an informal group of trusted friends that agree to make regular contributions to each other at agreed upon intervals for a fixed period of time.Sunday, June 17, 12
    • how do they work?Sunday, June 17, 12
    • At each saving interval all members of the group will pay a single member of the group, thus leaving that individual with a positive cash flow injection. The individual receiving all the paid contributions from the group rotates each saving cycle.Sunday, June 17, 12
    • why they workSunday, June 17, 12
    • Rotating Savings Group change the behavior and attitude towards savings because of the social accountability that exists between group members. Sunday, June 17, 12
    • If one member of the savings group does not contribute during a cycle then the whole group fails.Sunday, June 17, 12
    • (the secret sauce)Sunday, June 17, 12
    • Rotating savings groups makes an individual view their savings as an expense they owe their close friends.Sunday, June 17, 12
    • the rulesSunday, June 17, 12
    • Rule 1: We aLL are a part of the groupSunday, June 17, 12 (so only pick your close friends)
    • rule 2: We aLL must contribute each interval (don’t be the person that forgets to contribute)Sunday, June 17, 12
    • rule 3: We aLL are accountable to each otherSunday, June 17, 12 (so we need to stick together)
    • rule 4: We aLL pay one member each cycleSunday, June 17, 12 (one person gets all the money)
    • (let us look at an example)Sunday, June 17, 12
    • 4 Members 4 Cycles $25 Contributions eachSunday, June 17, 12
    • Cycle 1 $25 $25 $25Sunday, June 17, 12
    • all just paid $25 eachSunday, June 17, 12
    • received $75Sunday, June 17, 12
    • Cycle 2 $25 $25 $25Sunday, June 17, 12
    • all just paid $25 eachSunday, June 17, 12
    • received $75Sunday, June 17, 12
    • Cycle 3 $25 $25 $25Sunday, June 17, 12
    • all just paid $25 eachSunday, June 17, 12
    • received $75Sunday, June 17, 12
    • Cycle 4 $25 $25 $25Sunday, June 17, 12
    • all just paid $25 eachSunday, June 17, 12
    • received $75Sunday, June 17, 12
    • everything is evenSunday, June 17, 12
    • (just different cash flows)Sunday, June 17, 12
    • Cycle 1 (Received $75) Cycle 2 (paid $25) Cycle 3 (paid $25)Sunday, June 17, 12 Cycle 4 (paid $25)
    • Cycle 1 (paid $25) Cycle 2 (Received $75) Cycle 3 (paid $25)Sunday, June 17, 12 Cycle 4 (paid $25)
    • Cycle 1 (paid $25) Cycle 2 (paid $25) Cycle 3 (Received $75)Sunday, June 17, 12 Cycle 4 (paid $25)
    • Cycle 1 (paid $25) Cycle 2 (paid $25) Cycle 3 (paid $25)Sunday, June 17, 12 Cycle 4 (Received $75)
    • who would you save with?Sunday, June 17, 12
    • designed by @apknoleSunday, June 17, 12
    • (hooray for saving money)Sunday, June 17, 12