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How do stokvels help people save money?

Anonymous

∙ 10y ago

Updated: 12/11/2022

How does stokvel help people survive

Wiki User

∙ 10y ago

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Related Questions

How do solar hot water systems help people save money?

Solar hot water systems help people to save money in a variety of ways. They allow people to not use electricity or gas when heating up their water for showers.

Will this help save money on my electric bill?

No, this wont help you save money, it will only help filter out allergins from the air.

How does South Africa save money in Africa?

Stokvels social clubs is how people save money in Africa. Stokvels have been around in South Africa and Africa for many years. They are a good way for people to help motivate each other to save, and many stokvel or savings clubs are like social clubs where members also help each other in ways other than with money. Regular stokvel meetings have become a social highlight in many communities. To read about avoiding debt traps, click on the following link: Vuk'uzenzele: Avoiding the debt trap A basic stokvel is simple to undertake. There are usually twelve or more members, and each member contributes a certain amount each month. This can be anything from R50 to R1000, depending on everyone's income. Each month, it is a different member's turn to receive the money. So, if you belong to a stokvel with twelve members who each contribute R500 a month, then once a year you will receive a R6000 payout. You are motivated to save because the other members will know if you haven't paid your contribution, and also because the regular meetings are a reminder of what you will gain when it is your turn.

If you won the lottery, What would you do?

Save some money

How does Missouri river save money?

A river doesn’t save money, people do.

What does save the children do to help?

save the children is a charity which donates money to children that need help.

What did people do to save the Gulf of Mexico?

People across the globe are donating money, and volunteering their time to help clean the animals, and the beach.

Is the UK government wasting our money?

Yes save energy and importantly recycle.To help save our money.

How can you save kids with cancer?

You alone can't save a child with cancer. You can help by donating money to help find cures and to people who can't afford medical bills. But the one thing that could help is pray.

How do people save money by recycling?

You save money by using material over again.

Can kids help too?

kids can help save whales by donating money to places that save whales

How does recycling help save you money?

Yes.Recycling does help you or your parents save money,because you can use it again instead of buying it over and over again.

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