Question of the Day

sabadabada

And the question of the day is:what is a sousou?

Tabasko

And the question of the day is:

what is a sousou?

a girl who has guys making her gifs?

sabadabada

bassie

gossip

DB_Cooper

And the question of the day is:

what is a sousou?

Well, obviously it's a savings arrangement where a group of people each pool an equal amount of money for a period time (month, two weeks, etc) and after that time is up, one person in the group gets all that money. They keep doing this till everyone gets their turn and receives that full lump sum at least once.

It's not a pyramid scheme, no one loses as long as everyone's trustworthy and puts in their share. It's just a way to hang on to money by putting tying it up into something else temporary. This is popular with 1st-gen Carribbeans, South Americans, Africans, and maybe someother people. Just a way to save money up if you can't get a small savings account, aren't in a credit union, or don't want Tha Man all up in your business.

Used in a sentence: "It's my turn in the sou-sou. I think I'll spend it on a plasma tv."

And I totally did not take that from the Urban Dictionary.

sabadabada

you win,

i never heard of it, but apparently its very common. its a cool idea, except the person who gets it last loses the time value of the money, but it forces them to save and then they get it knowing they dont owe anybody any more money.

DB_Cooper

Yeah, it seems like an effective method of saving for people who can't discipline themselves to do it another way.

But I totally ripped that definition off from the Urban Dictionary.

sabadabada

i know you did, i found the same one. I thik it originally developed to address the saving needs of people who had no access to banks or traditional lenders. In some of them the pot can be close to $100,000 and can be used to buy houses or open businesses.

Rich45s

the concept has a different name in the UK & Ireland, but I cant remember what

keithvanhorn

i get that it teaches you to save money, but i dont understand how anyone makes money or even interest. assuming there is an even number of people, everyone, at a certain point, will get what they put in and no more.

white_tea

i know you did, i found the same one. I thik it originally developed to address the saving needs of people who had no access to banks or traditional lenders. In some of them the pot can be close to $100,000 and can be used to buy houses or open businesses.

Man you get banking advice from urbandictionary dot com?

sabadabada

i was looking it up for work.

DB_Cooper

i know you did, i found the same one.

I hadn't really checked that site out before, but I dig it. Selections from the definition of:

Yoink[/b]

An exclamation that, when uttered in conjunction with taking an object, immediately transfers ownership from the original owner to the person using the word regardless of previous property rights.

Often used in conjunction with gank, the word "yoink" confers legitimate ownership of the "ganked" item to the one who exclaimed "Yoink!"

"Yoink! I have ganked your french fries!", exclaimed Bill.
"Damnation! They are now yours, regardless of my feelings!", declaimed Fred.

Birdman9

i know you did, i found the same one. I thik it originally developed to address the saving needs of people who had no access to banks or traditional lenders. In some of them the pot can be close to $100,000 and can be used to buy houses or open businesses.

I worked with a woman who was in one of those (or maybe several as I remember) and that was the way she explained it to me, that people use it to save up down payments for houses or business franchises, that type of stuff. I wondered what happens if you get a deadbeat in the mix.

soulbrono1

i know you did, i found the same one. I thik it originally developed to address the saving needs of people who had no access to banks or traditional lenders. In some of them the pot can be close to $100,000 and can be used to buy houses or open businesses.

I worked with a woman who was in one of those (or maybe several as I remember) and that was the way she explained it to me, that people use it to save up down payments for houses or business franchises, that type of stuff. I wondered what happens if you get a deadbeat in the mix.

so, if you are one of the first to get the pot, it's like a no interest loan. If you are one of the last, it's like a no interest savings account. looks like a lot more beneficial to be at the beginning of the line.

phongone

I think Koreans and other asian groups have a similar money-pooling concept. Shit is mad useful to raise capital to start a business when you're a recent immigrant.