Run a money circle program : A great opportunity

Money circle program has been exciting for ages. Yet we designed our service to help you to set up a fully functional money circle. That is why we address all the challenges that come up with the program.

Commitment 

Minimum of a 01-year commitment

Overview of the implementation of a money circle program:

  • Set up a fully functional program
  • Play an active role throughout the contract
  • Provide legal advice and coverage in case of any issues
  • Interview and assessment of all applicants
  • Provide a reliable and credible financial advisor
  • Dedicated expert to keep all members on track with their respective obligations

Cost structure:

  • Initial consultation fees for 1 hour: $100
  • One time fees depending on the number of expected member
  • Every meeting: Price start from $10 per member

Sign up


Should you have any questions about the program, don’t hesitate to send us an email.

  • Subject: Money circle class
  • Email: educatorslearners@gmail.com

An Innovative Approach to Budgeting: The Saving Canvas

The saving canvas was inspired by the business model canvas. It will help you make a budget that works. Surely, the goal is to break down all your spends. That is because we consider your budget as a set of blocks. Visualization can help eliminate non-essential spends and aid you come up with alternatives. Hence, mastering the saving canvas will assist you to map out and to design the most effective budget.

Takeaways: How to Make a Budget That Works

  • Key spending: the block represents all transactions. You will unravel all your spendings to look at a granular level. Don’t forget every aspect or activity.
  • Resources. They are either monetary or time. Sometimes, we tend to only focus on the financial aspect of budgeting. So including time will go a long way.
  • Reasons for spending: Here we answer the question “why do you need this?”
  • Payment methods: Card, cash and time.
  • Alternatives: Do you have alternatives that provide the same level of satisfaction?
  • Total spending: quantify all your spendings
  • Total alternative: quantify all the alternatives
  • Saving: This is the difference between alternatives and savings.

However, you will not achieve all the intended goal, if you don’t dedicate yourself.

Learn How to Make a Budget That Works with The saving canvas

[pdf-embedder url=”https://tegumelvis.files.wordpress.com/2020/01/fe3cb-the-saving-canvas.pdf” title=”The saving canvas”]

What is a lending club and how does it work ?

Lending clubs also refers to lending circles are networks of people who borrow money from each other on a rotating basis.  Yet each member pays the loan back on a rotation base. The loan is interest-free and can sometimes represent a very healthy amount. Specifically when the circle is very strong. As a result, it helps their members buy cars, make down payment for a house or completely pay for the house, pay tuition fees and run businesses.

Takeaways:

Lending clubs build financial inclusiveness and foster economic empowerment. In addition, they are thriving among immigrant communities. That is because generally those communities typically find themselves shot out from the traditional social system. However, because the model is entirely based on trust, members are carefully vetted and in some case, you must be co-sponsored or referred by an already member to join.

When to join a lending club?

Typically before you join a lending club, numerous steps have to be done.

  •  Have a goal: This is probably the most important aspect of the lending club. As a new member, they want to know what your goals are. You can join to help you buy a house, a car or to prepare for a vacation.
  • Members of the lending club: Never join a lending club if you don’t know anybody. Exceptionally you can pass through an agency. But make sure you trust and know each member very well. That is because you are building a strong community and relationship. If necessary do a thorough background check without any complaisance.
  •  How much is the minimum periodic contribution: The minimum period contribution is the amount of money you are supposed to contribute at every meeting.
  • Find out how many people: You need to know how many people are in the circle and appreciate the extent of your engagement.
  • The meeting period: This information is critical because it is associated with your commitment. Indeed at every meeting, you have to contribute the minimum amount required, be present. Also if you are the host depending on the type of program you might have to host all members.
  • Rules and regulations: it is important to read, understand and appropriate yourself with all the rules and regulations that govern the circle and how do you fit in?

Advantages of Lending circle:

  • Build wealth: Lending circles are not exclusively for people with no access to financial services.  In fact, most successful businessmen and women are all part of a Trusted lending circle.
  • Raising fund: The programs are a great way to raise zero interest rate fund hassle-free. Lending circles collect and lend from a hundred to thousands per day.
  • Empower communities: They help build, rebuild and improve communities because all members have the same motive and nobody is left behind.
  • Financial inclusion: The service provides banking services to people often shut out of the financial system because of bad credit or no credit. In addition, the program helps improves their credit score by reporting to the 3 major credit bureaus.

Inconvenient of a lending circle:

Like any venture, it comes with some drawbacks.

  • Lost of your money: if you happen to join a program with people who are not trustworthy. Everything you put in can be lost. You might lose a really big amount of money.
  • Untrustworthy people: depending on the power of the circle, people can really bring you a lot of trouble. Because you are essentially inviting them to your house.

How it works

  • The lending circle is formed between a group of people. The number is not set stone and it depends on the members.
  • The loan amount also depends on the members, there is no minimum amount. The members decide based on the quality of the members.

Case study:

  • Number of members: 4 people
  • Profile: all family members and relatives
  • Amount: $500 every month
  • Circle:  Every 4 months a specific person goes with $1500  that is $6000 per year. That is a loan giving away at 0%.

 


ORIGINALS

  • Money contents delivered to your inbox
  • [wpforms id=”884″]