With the tightening of Bank’s lending criteria and unavailability of personal finance has meant ‘Social Lending or ‘Money Pooling’ is gaining attraction on both sides of the Atlantic.
As many people have unwisely taken on too much debt in the glut of cheap money – an era which is now rapidly coming to an end – there will be a desperate struggle to stay afloat and make ends meet.
For many people, credit card debt and other loans were the only means to keep going during an economic period that was stagnant and unforgiving. Though they borrowed money to pay bills that flow didn’t result in better momentum in the way of pay, job advancement and personal household progress.
These are all bad signs for individuals, and a testament to the fact that it will be a long road ahead to prosperity once again.
With the rise of social lending circles such as MoneyBuddies hope yet remains.
Launching the next generation of money management technology and goal-based social banking.
Social saving helps people gain control of finances. Makes saving money easy, interactive and enjoyable.
Studies have found that social lending circles are a proven tool for credit improvement and can help to drastically reduce outstanding debt.
The freedom to manage money the way you want with the people you trust.
How MoneyBuddies works?
Connect with family and friends, join or create money pools, contribute to the goals of others, reach saving goals!
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.
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.
No more pay day loans. No more overdrafts or credit cards. 0% interest free. 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.
Free to sign up and free to use.
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.
For more info visit MoneyBuddies
By digitizing this concept and bringing transparency and simplicity to the un-banked through social p2p networks.
MoneyBuddies – Social saving with Friends.