Rotating Savings and Credit Association
Rotating Savings and Credit Associations (ROSCAs) are like a club. Here's how they work:
1. A group of people get together and decide to save money together.
2. They each put some money into a pot.
3. Every month, one person takes all the money in the pot.
4. The next month, the person who got the money last month puts in the same amount of money as everyone else.
5. This continues until everyone has taken turns receiving all the money in the pot.
The point of a ROSCA is to help people save and manage their money better. It also helps them to get larger amounts of money that they would not be able to get on their own.
1. A group of people get together and decide to save money together.
2. They each put some money into a pot.
3. Every month, one person takes all the money in the pot.
4. The next month, the person who got the money last month puts in the same amount of money as everyone else.
5. This continues until everyone has taken turns receiving all the money in the pot.
The point of a ROSCA is to help people save and manage their money better. It also helps them to get larger amounts of money that they would not be able to get on their own.
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