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Sou Sou Template Form
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People also ask
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What is the Sou Sou method?
In a traditional sou-sou, the members pay a fixed, equal amount of money into a common fund on a weekly, bi-weekly or monthly basis and take turns getting paid out on an agreed-upon schedule. The group selects a treasurer who collects the members' contributions.
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How to set up a sou sou?
A su-su, or sou-sou, is an informal, rotational saving method in which a small group of trusted people contributes a fixed amount (e.g. $50 or $100) to a pool of money on a fixed basis (e.g. weekly or monthly). Each month, the pot goes to a different person until everyone in the group has collected.
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What is the Sou Sou method of saving?
In a traditional sou-sou, the members pay a fixed, equal amount of money into a common fund on a weekly, bi-weekly or monthly basis and take turns getting paid out on an agreed-upon schedule. The group selects a treasurer who collects the members' contributions.
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How to start a sou sou?
Here's how I started a sou-sou to help me make enough money to get my cake-decorating business off the ground. Determine How Much Cash You Need to Start Your Business. ... Find Cash in Your Budget and Earn Extra Money. ... Form a Group. ... Choose a Cash Collector. ... Decide on a Reasonable Contribution. ... Propose Accountability.
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How many people are needed for a sou sou?
Form a Group A total of 10 colleagues joined the sou-sou, but you can start one with any number of people. Ask co-workers, relatives and fellow church or gym members if they want in.
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Is there a sou sou app?
Susu-App 17+ One group member collects the full amount every time until every member gets their turn to contribute. Everyone has an equal contribution and gets the entire lump sum amount once. The app allow users to create, manage and track Sou sou activities.
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How to do a susu?
Each person contributes periodically the same amount to a common fund; the total contributions are disbursed to a single member of the group. Each time, the recipient changes so that eventually all members are recipients. Participants of a susu do not make a profit.
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What are the benefits of Sou Sou?
An advantage of the sou sou is that it provides a disciplined savings approach. Being part of a group often motivates members to save consistently, ensuring that they have a lump sum available when it's their turn to receive the pooled funds. However, a disadvantage is the lack of legal protection.
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