The economy sucks and everyone is looking for ways to save and make some extra money. We can all use an increase in cash flow. Some of us are scratching our heads wondering how others seem to keep a steady cash flow. I’ve learned a few cash flow secrets that just might help you or someone you know in the living life abundantly department.
Among West Indians it’s known as susu,
Chinese say hu chu hui,
Latinos refer to it as tandas,
and Koreans call it keh…
These are all terms for money pools. The concept of pooling financial resources to purchase homes, start businesses, buy cars, pay for weddings, fund college educations, go on vacations etc…is widely practiced throughout the Unites States, and especially in immigrant communities.
According to Ari Rabinovitch, “A minimum of 20 people participate, and the cost is $100 a week. Every week the players pay their share until the susu organizer collects a stack of bills totaling $2,000. And every week, one player takes home all the cash. The rotation ends 20 weeks later after everybody has had a payday.”
I first learned about this from one of my best friends a year or two ago. I found the concept fascinating as I had never heard of it before. She’s Mexican American and says that this has always been one of her ways of saving money! How cool is that? None of my family members or other friends knew anything about this type of money pooling. I made a mental note of it and filed it in my mental rolodex for future use and I’m glad that I did… I’m certain that this information comes in handy and right on time for someone reading this blog.
My friend says you can’t just do this with anyone, it must be with people you know and trust. She said that even with people you know and trust there are some risks, which makes sense. What happens if someone in the Tandas doesn’t pay their portion or runs off with all of the money or gets robbed? Everyone participating in it is just out of luck. I guess thats the risk you take but apparently its worth the risk because so many people do it. My friend hasn’t had any problems.
Having a trustworthy group of people that you can pool your resources with might enable you to achieve your financial objectives at an accelerated pace. You know I’m a firm believer in Team Work Makes the Dream Work.
Here’s how you can set up a money pool.
- Get a group of like minded people you trust together that are interested and understand money pooling.
- Set up rules on how to run the pool that everyone agrees on.
- Select someone to be in charge. (This person collects and holds the $$$)
- Decide how much everyone must contribute to the pool.
- Decide how often contributions are to be made (weekly/biweekly)
- Select a start date.
- Draw numbers from a hat (bag) to determine the order.
Another outside the box method for generating large sums of money is through cash gifting. Similar to money pools, cash gifting involves a group of individuals but instead of everyone contributing money to a growing pot, the individuals give directly to an individual through an automated tracking system. The cash gifting activities are based on the U.S. gifting rules in the IRS Tax Code=Title 26 (sections 2501-2504 and 2511), the universal law of reaping and sowing, and the 1up system. Watch this video.
Cash gifting is another concept that is totally new to me and it was brought to my attention by another close friend. Yes, most of my friends are outside the box thinkers. This particular friend wants to pay off some hefty duty student loans and believes that cash gifting is the best and quickest way to achieve the goal… I was skeptical at first, but 50 youtube videos later I’m interested in seeing how it works! I have some pretty ambitious and very expensive goals, maybe cash gifting is an option. I’ll see how it goes for my friend
A slow steady safe but still outside the box way to increase cash flow is by becoming an affiliate or independent representative in an industry you patronize frequently. For example, I know an RTA (referring travel agent) that enhances her cash flow by offering travel services online and she also gets paid by sharing the RTA business opportunity with others. One of my other close friends travels extensively for both work and pleasure. This friend is responsible for booking all of her travel arrangments. I suggested she speak with my friend who is an RTA about becoming an RTA… that way she makes commissions on her travel if she books it directly from herself…(make sense?)…
I buy concert tickets, books, and make other random purchases online often. I am an affiliate with several programs so I make a small commission (or some would consider it a savings) on what I purchase. It works for me.
There are many ways to increase cash flow. For more methods see: Ways to Make Money Online
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20 Responses to “3 Outside The Box Ways to Increase Cash Flow”
Living Life Abundantly Adventures
Great blog friend. Cundinas are a very common and effective way to save some extra cash.
friend are cundinas and tandas the same?
If you put $100 week into the bank for 20 weeks, you’d get a $2,000 payday. But I guess it wouldn’t be nearly as much fun as a money pool.
these are some good ways of increasing cash flow. my wife and some of her close friends have a money pool going on and it works very well for them.
Pretty nice names for a pyramid scheme, I wish you luck. There are also a bunch of guys from Nigeria who need someone to help them with $35M. Just be careful guys.
There are so many amazing ways to make money in this country but they do tend to require work. So be honest with yourselves, you want to make lots of money but don’t want to put in the effort to get it? If you are prepared to graft a bit try an online business.
There are an almost unlimited number of ways to make serious money online but all do require some sweat equity. Check out the internet marketing center, absolutely world class help for folks wanting to start an online business.
If there happen to be any over 70’s reading this, your life insurance could be a great way to generate cash. A life insurance settlement could pay major cash for your existing life insurance policy. Don’t sell life insurance you need but if premiums are bogging you down and you need cash contacting a life settlement company could be the best decision you ever made.
Life settlement is starting to really take off. On the surface to life policy holders the lure of upfront cash is almost irresitable, but as with any deals that involves big money anyone thinking of life settlements should give go into it with care and consideration.
LOL
hae you ever tried cash gifting?
I know it’s not as exciting, but my wife and I save 10% of ever paycheck we receive.
We’ve been married for 6 years. And even saving conservatively like this really adds up.
Think about it: If you save 10% for 10 years, you’ll have a full year’s salary saved up by the end of the decade.
And…you won’t have to worry about working with untrustworthy friends.
There is a explosion happening as you read this article. Cash Gifting is becoming the opportunity of 2008 and beyond. The question is what promoted the uplift in activity. Why Cash Gifting? It doesn’t seem ethical.
Cash Gifting is growing fast because of the community and the experience of the new members. Individuals are finding that the stories and strategies are true. The people that are taking the chance are also finding themselves succeeding.
Cash Gifting is powered by the members of the community. The success is spread around the web. Sinking into the heads of other like minded individuals. This process is sending a wave of supporters.
These supporters are what is fueling the fire. If you are reading this article soon may become a member and then a believer. That is the exact cause of the explosion. I like to think of it as “If you build it they will come.” Want I mean is being a member provides you with the information that it takes to build the foundation and into a structure to succeed. Not one team has all the answers so Cash Gifting members are kind enough to spread info all over the community. Cash Gifting has the ability to launch you into success faster than it takes you to get back to the gas pump.
I love this concept. It seems like an old school, very classical American kind of thing to do. Rather than go borrow money, a group of dedicated people work together to save money for things that are needed. Great post!
You must be everywhere on the net. It’s the second time I end up at your site today! Great info!
PS. I love your site design.
Great blog. I quit an 80 hr a week job thanks to a legal, ethical home based oportunity. I absolutely love it. Here's a cash gifting video that shows exactly what I do. All the best to you.
Chuck
Cash Gifting is just people helping people to be success, keep up the good work
Goody
Cash Gifting is just people helping people to be successful, keep up the good work
Cash Gifting is just people helping people to be success,nice keep up the good work
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Phil Miranda, here… Cash Gifting is becoming much more acceptable by the public especially during these touvh economic times.
I agree with Law Firm Marketing G. – cash gifting programs are something that has American creativity all over it.
I've enjoined great success with affiliate marketing but the anchor to all my marketing endeavors is still cash gifting. I've found it to be the easiest activity to market online. Also the conversion rate for cash gifting is the highest I have ever experienced from an online activity.