Join the world’s leading social saving crowd
With the tightening of Bank’s lending criteria and unavailability of personal finance has meant ‘Crowd Saving’ or ‘Money Pooling’ is gaining attraction on both sides of the Atlantic. Studies have found that social lending circles are a proven tool for credit improvement and can help to drastically reduce outstanding debt.
MoneyBuddies provides a core facility of banking with friends to help you manage your money but without gimmicks and debt inducing facilities.
MoneyBuddies believes that it is possible to revolutionize saving circles (ROSCA) known as Rotating Savings and Credit Associations used by over a billion people around the globe today. By digitizing this concept and bringing transparency and simplicity to the un-banked through social p2p networks.
How it Works
A group of people – friends, family or even co-workers deposit regular sums of money over a fixed interval.
The money contributed then goes to each person in the pool, taking turns in withdrawing that money. Everyone receives the same share equally. (So everyone’s a winner!)
A superb way to start saving or raising finance. It’s just an alternative for millions of normal people to use modern social networking to support each other financially.
State Your Need
First, decide how much you need and can contribute monthly.
Invite your Friends/Family
Create or join a pool and invite your friends and family.
Receive Your Payout
Receive funds when its your turn to withdraw*
*Everyone receives the same share equally.
No more pay day loans. No more overdrafts or credit cards.
With monthly contributions you can join the most cost effective solution to saving money or raising finance. All at 0% Interest and no hidden charges. Pay off your existing loans, buy a new car or save up for a holiday.
Whatever your reason for saving money or raising finance. Let MoneyBuddies help you with collaborative saving.
MoneyBuddies is not designed to replace formal banking. But advises against expensive short term loans and unconventional methods of borrowing.
MoneyBuddies recommends 3rd party secure payment services for sending and receiving money to and from family and friends.