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Who We Are
We are an online "Piggy Bank" initiative who provide a facility where like-minded inidivduals pool in and share scarce funds. The objective is to be able to avail participating members with some disposable income that they can use towards sudden expenditure requirements. Someone somewhere is usually faced with a huge bill or penalty requiring urgent funds. More often than not, there isn't enough cash put aside for such extra expenses. Because these challenges can happen to the best of us, the pooling and sharing of funds with MoneyPot is meant to alleviate cash shortfalls for members, whenever the need should arise.
Pyramid/Ponsi Schemes
Sharing of funds as implemented by MoneyPot is no new concept. It should however, not be confused with the infamous "Pyramid" or "Ponsi" schemes known to defraud innocent victims of their earnings the world over. Neither are we about "Working from home"! Our scarce funds concept is based on traditionally sharing co-operatives that have been tried tested and been proven to work, since time immemorial! In fact these co-operatives are in practise even to this day.
MoneyPot Vs Traditonal Co-operatives
Long before the "Credit Crunch" became an everyday layman's language, resourceful individuals unable to get bank loans or other forms of credit were participating in social co-operatives to source funding that provided financial leverage for their members. The main difference with MoneyPot is that we reach out to far wider audiences over the Internet. This allows other people also to partake in the initiative, should they wish to do so.
MoneyPot also limits its sharing member numbers to a maximum of four per group. Each member contributes the same amount of cash into their group's kitty from which they will draw out lump sum benefits in turn. The kitty totals are shared out on weekly rather than monthly basis, as is the case with traditional schemes. Moneypot's initiative is also based on rotational rather than the normal linear format .
Traditional schemes usually involve several members within their groups. Although larger numbers may pool in bigger lump sums, turn-a-round frequencies for sharing members are fewer and far in between. Groups of nine to ten individuals sharing monthly for example, may receive from their kitty perhaps once in every twelve months. This underscores the fact that members are pooling funds into their kitty, more often than they are benefitting from it. Given such conditions, it is very easy for membership apathy to set in and prevail within linear sharing schemes.
Despite the drawbacks mentioned above, MoneyPot advises all would be members, to make informed choices before joining any sharing co-operatives. We particularly believe in protecting the integrity of our initiative and in so doing, provide a step by step explanation showing exactly how we operate, and the benefits our members can expect to accrue over time, as a result of pooling and sharing limited funds together with others.
Disgruntled Members Waiting In Line
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The above graphic illustrates how members partaking in linear co-operatives can end up disgruntled with waiting too long for kitty benefits to come round to them. Frustration for some may lead them to depart from a scheme that was supposed to empower its members in the first place. |
Aims & Objectives
The initiative aims to see that our members need not feel alone and vulnerable to being financially exploited by door to door loan sharks. When money worries mount, desparation to find it by any means necessary can cloud sound judgement any day! It is therefore, comforting to know that as a member with MoneyPot one has the opportunity to look forward to achieving positive goals such as:
When times are difficult as in today's global economic crisis, pooling and sharing limited funds helps prevent members from falling behind on those 'must pay' credit cards or other debts. This is why the initiative is helpful for many individuals. It is always better to brainstorm as a group than to be left feeling lost and alone when worrying over money.
Since today's economic woes also mean that there is hardly any credit doing the rounds and government bailouts won't filter down to the consumer any time soon, the onus is on individuals to try and keep afloat as the recession persists. By working together as one, our members can ride out these hard times with a little bit more change in hand!
Shared Vs Individual Funds Sourcing
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Today, it is with such clarity how the credit card and loan offers which used to drop through letter boxes by the sackful, have since dried up!
Hence, wheeler-dealers are taking advantage of these lacking credit facilities as a result! They pounce on the needy to whom they will lend short-term loans with punitive consequences. They will then pile on exorbitant interest rates as well as dictate when and how the repayments are made back to them!
It is only prudent therefore, that individuals look out for safer means of sourcing the elusive extra funding, be that by sharing traditionally or even through our own "Piggy Bank" initiative.
DISCLAIMER!
MoneyPot DOES NOT PROMISE its members that they will become rich through the sharing initiative! We simply provide a place for like-minded inidividuals with similar needs, to join others in pooling limited cash resources together, in a bid to have some spending leverage on a regular basis.
The main objective of our facility therefore, is to make life a bit more financially tolerable for members, by helping them stay out of heavy debt. We therefore, do not ask or expect anyone to use up their life savings so as to partake in the initiative! This would be contrary to our aims and objectives!
To learn how sharing funds works, visit "About Us" . |
