Here’s an interesting idea from Okinawa. Apparently the people who live in Okinawa don’t trust banks (are you surprised?). However, in Okinawa, they have an interesting way of sharing money. It’s called a “tasukeai moai”.
Here’s an example. A group of 10 friends form one of these groups and they agree the following –
- To meet once a month for ten months.
- To each commit to put 50,000 yen (that’s around £400; or 500 dollars/euros) into the pot every month.
- Each month one person can opt to take the whole pot.
- Once 500,000 is taken, that person has to pay 2000 yen in “interest” each of the remaining months in addition to their monthly 50,000 contribution.
- The pot therefore rises by the amount of the addition payments each month (the 2000 yen from each “borrower” in addition to everyone’s monthly contribution), so the later you opt for the pot, the greater the amount you receive, and the earlier you take it, the greater the amount of interest you pay.
- If two or more people want the pot in any particular month, they draw lots.
- After the tenth month the club closes and a new club can commence. (you’ll have figured out that the group lasts for as many months as it has members….)
The group therefore support each other’s needs in a kind of informal savings and loan club. In addition to this support they are friends and increase their friendship through their commitment and sharing. These groups work on trust, friendship and everyone in the club knowing each other.
Different, huh?
Heroes Not Zombies 