What is Sou-Sou Plan? Is It Used to Invest/Save Money?
A sou-sou is an informal revolving savings scheme that is very popular these days. Also known as sou sou, su-su or susu plan, where a group comes together to create a pool that pays a weekly, bi-weekly, or monthly equivalent. The total pool, also known as the hand/giveaway, is then paid into a previously agreed schedule for one member of the club. After that, the pool will rotate until all members receive their share. Through this, the program offers all users the opportunity to withdraw the money they have paid when they wish.
How Is It Best to Invest Money?
As with many things in life, Susu is one of the best when people are running well and, when handled properly, are limited to close family and friends in a small group. Trust is at the core of the idea, and people can trust every member of su-su with their money. In the Caribbean, it has long been very popular to have an informal revolving savings corporation, where people arrange to disburse money equally in a predetermined schedule. It is now one of the most accepted investment schemes in the world as the motto of this lucrative cash investment scheme is “You will get what you pay for”.
Why Do People Prefer Sou-Sou To A Savings Bank?
At the bank, people lose out on profits. For example, if you have a hundred dollars in the bank. If you go to get it back after several months, you only have $25 left. You have less money, they charge you! This is one of the big reasons why people in the United States want to join Su-Sus, because this lotus flower pyramid allows its members to avoid bank fees and loan interest, and it is almost excluded from paperwork and bureaucracy.
How Does This Sou-Sou Plan Work?
A basic Sou Sou works like this: selects a treasurer who collects the contributions of team members. He/she will also make a payment list, or ask members to get their hands on it any day during the cycle. The people participating in the scheme agree on how much and how often they want to contribute.
If ten members contribute $1000 per week, the member will receive $10,000 or a sum in cash each week. The cycle resumes after ten weeks. Any member who purchases it can double their contribution and receive two hand payments in a cycle. Participants in these savings clubs find it difficult to keep up, and this type of savings club will give them the responsibility they have to fulfill. Also, this blessing loom su-su program policy does not charge interest, so the pool will always receive the amount they deposit in the pool bank.
So Is It Worth It?
Sou-sous has traditionally helped people raise large sums of money and despite a kind of community support, they have some difficult tasks to fix with the right guidance. Let’s look at some of the pros and cons of this program.
- Benefits: Get A Great Deal Quickly!
You may be one of the first rounds if you need money immediately. It can be a lifesaver in an emergency, if you still do not have the opportunity to create your emergency fund or if it is not enough to meet your needs.
- Option To Connect Friends And Turn Into Business Partners!
There was also an excuse to meet and maintain friends from home countries. If you are in the neighborhood with some friends or family members or co-workers, this is a great way to maintain connections.
Difficulties But Not So Difficult!
- Getting Reliable Partners!
Su-Su operates in the honor system: each member is expected to contribute their share each month. Therefore, it does not prevent one from taking the first pot and “disappearing” or “forgetting” their role for the upcoming months. So finding a trusted partner is an important role, but it is not difficult for you to work hand in hand with your friends/family or co-workers.
- May Not Be A Perfect Fit For Your Business Space!
Creating a soul in your work as well as my colleagues can be a great way to bond and help each other, but it can also be a gray area in your workplace. Sou-Sou activities can get particularly dice when a supervisor and deputy officers are involved. So pay close attention!!
- No Extra Interest On The Investment!
At the same time, the biggest advantage may be a small disadvantage, the basic idea is that getting a pool of money without interest plays a role in lending, as well as saving takes the same action. The term can serve as a huge benefit to lending and a bit of a disappointment to those who join Su-Su to save or invest money.
To Join On Sou-Sou: What To Do First?
When people want to join this legitimate Sou sou flower pyramid scheme, they have to gift a certain amount of money to the member at the water level (final level). Let’s see about it in detail!!
- A new member donated a small gift and can expect to receive the treasure pot in the coming weeks. Also, a total of 8 members will be added at once to complete the first level.
- When a cycle occurs i.e. one cycle/rotation occurs each week, first tier members will be moved to the next tier by referring at least two people on the network, and the task will be facilitated by a better online tool called social media.
- Communicating with friends/family members is an easy task to share the ability to earn through social media, and by using it, people will quickly get their pair members within the cycle time.
How Does MLM Refer To This Sou-Sou Plan? Is It Legitimate?
Simple answer: Yes! The Sou-Sou Flower Looming Gift Plan is a full-term legitimate program in the MLM industry.
Unlike other compensation tree structures, the scheme has four levels/layers in its structure. As it has a floral structure, it is called a Money Flower Investment Plan. When it is related to the basic elements of nature, the stages are divided into fire, air, earth, and water respectively, and if it is related to the growth of a plant, it is divided into seed, stem, leaves, and blossom. Some associate this shape with a diamond-shaped pyramid, where the dimensions are known by its color, i.e. the outer layer of fire, such as red, and then turquoise, green, and last blue represent water as well as others.
By giving a small cash gift, a member can start his or her participation so that all members can get paid as quickly as they want, which is what most people want. While this is very similar to the gift donation MLM plan, this concept is completely different from others in the industry, meaning there are no sponsors and no need to work hard to promote products to get paid. Also, the investment is very low, and it attracts more people to join, thus increasing business income faster.
