Have you ever wondered how a newly arrived immigrant manage to scrape together enough money to open a shop? Many immigrants from all around the world utilize a 200+ year old secret savings system used by people around the world called by different names the Jamaicans call it “Pardna” spoken in the Jamaican patois dialect meaning “Partner” other’s know it as “Susu”. Mexicans refer to a it as “tanda”, Koreans call it “Kaes” and the Chinese call it “Hui” or “Wee Chen”.

Saving Money is hard for most people and everyone at some point in their life need money to make a down payment on a house, to pay the first and last months rent, a loan to start a business, buy furniture, purchase a car, pay college tuition or a security deposit for an apartment or some other large purchases.

Start and Use A Rotating Savings Credit Association or (ROSCA) To Get Out Of Debt, Build Wealth or Start a Business.

This informal financial system usually associated with poor, developing countries with limited access to credit is used to solve cash flow problems through the communal approach of a Rotating Savings Credit Association or ROSCA.

When I took Finance 101 in college one of the lessons that stood out to me was that the present value of money is greater than future value of money as shown in this equation: (PV>FV). All cash flow problems are illustrated in this simple equation. This means that the value of having money now, when you need most it is more valuable than getting it at some future date. 

The ROSCA money saving system when used correctly can pay for a house for your family, put furniture in it, and it put your children through college. This book teaches people from all backgrounds how to setup and use a ROSCA money saving system. This alternative credit system can be used by people from all income levels who have a limited credit history or just people who find it difficult to save in mainstream ways to change their life for the better.

Originally published on Blogger

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