Carpon
Valued Contributor
There are so many organisations that have a scheme where all their benefiting workers will on a monthly basis, remit a particular amount which will be kept safe for them and given back at an agreed period of time.
This comes in many ways and other organisations do not give their beneficiaries their savings in cash but rather they give back in kind by purchasing some important items and this is mostly seen among workers who are married.
I see it as a good way to save without struggling with yourself since it is like a contract you signed which cannot be backed out from at any time unless the agreed period has elapsed. Usually, people involved in this make remittance at the point of salary collection and there are some groups that will take turns to give the money to each contributor per month. Others gather and invest such money and every contributor will have a share of the realised profit.
This comes in many ways and other organisations do not give their beneficiaries their savings in cash but rather they give back in kind by purchasing some important items and this is mostly seen among workers who are married.
I see it as a good way to save without struggling with yourself since it is like a contract you signed which cannot be backed out from at any time unless the agreed period has elapsed. Usually, people involved in this make remittance at the point of salary collection and there are some groups that will take turns to give the money to each contributor per month. Others gather and invest such money and every contributor will have a share of the realised profit.