Has anyone heard about these Susu meetings? My wife's friend was telling her about it but it sounds like a pyramid scheme to me. It has to do with people blessing you with money. I guess one person gets blessed with money and eventually you will also get blessed. It moves in a circle instead of a pyramid. Just sounds fishy to me but maybe someone here knows more about it.
Susu (Sousou) meetings
- Thread starter hajjibear
- Start date
would a susu or lottery system work on BGOL??
https://en.wikipedia.org/wiki/Susu_(informal_loan_club) https://en.wikipedia.org/wiki/Lottery Don't really have the logistics on how to implement either on here, but it crossed my mind.. Basically an ideal way for brehs to gather money. the lotto is prolly more doable tho. We could have a...
www.bgol.us
It’s a Caribbean thing. If you’ve ever wanted to practice black economics before going all in, you should do this.
just sharing a perspective
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30 minute mark his experience
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The wife and I do this every week. We both do two hands at $150 each. $600 total.
Then a few months later we get lump sums of about $2200 or so, depending on the number of folks buying into it.
It works well but you have to trust EVERYONE who’s buying in. If someone misses a payment, it can mess the whole thing up.
But we’ve been doing this consistently for about 4-5 years now. Great way to save, not only for yourself, but as a community.
Then a few months later we get lump sums of about $2200 or so, depending on the number of folks buying into it.
It works well but you have to trust EVERYONE who’s buying in. If someone misses a payment, it can mess the whole thing up.
But we’ve been doing this consistently for about 4-5 years now. Great way to save, not only for yourself, but as a community.
Good and bad experience. Was in one group and spent $50 and the group moved but it died after I got in. My sister just got her and I set up into another group where payout is $800 ($100 to join). My best friend did it and got a quick come up. Like Bruddah @DJCandle said, it has it's positive aspects and can work if everyone buys in. If people don't, then it just sits and don't move.
Everybody doing this now.
In the caribbean its called a Partner Draw. which maybe its called that in England.
Its good, its not a pyramid. Its what Jews do. Its only something you should do if you have a purpose.
Like if you have a shop, you wait till your work to reup on things to sell. You get a better price when you buy in bulk. So you dont Sus with like 7 people only 3 so you can restock frequently.
Its good, its not a pyramid. Its what Jews do. Its only something you should do if you have a purpose.
Like if you have a shop, you wait till your work to reup on things to sell. You get a better price when you buy in bulk. So you dont Sus with like 7 people only 3 so you can restock frequently.
That shit people are doing now is not a traditional sou sou. This flower stuff is a pyramid scheme. Not saying money can't be made but it is very different from a traditional sou sou. It is literally you putting in $ and bringing in 2 people who are willing to join and put up money too. New money pays people who are ahead of you. Once new money stops coming in, the process comes to a halt. Money can be made but proceed at your own risk.
There is a new primary scheme and they purposely used the Susu name to confuse people into thinking it's the same thing. However, this is not he conventional Susu or Partner. The original SuSu did not rely on bring in people to keep it going, that's the new pyramid scheme. The real Susu/Partner was a set number of people who all put the same amount of money up and took turns drawing the same amount of money from the weekly or monthly pot. Depending on your draw position, you either got an advance or you got a saved sum. It ended when the last person took their draw and everyone was made whole. It wasn't a money making scheme, more like a lending or savings fund.
EXACTLY.. strictly facts....
A wise trini sister put me up on that.. I had no idea how fuckin dope it was,
its was forced savings...
the key is, to get in with responsible people... not the fuckin money hungry muthafuckas that want to get that early hand and bounce....
I know folks that purchased multiple homes using su su.
bruh when your hand comes.....its like hitting lotto....
if we had some real kniggas on this board,
we could do something like that up here......
using cash app or paypal.....
but there are only a few folks I KNOW you could
trust...
up here..
No its not.
If you and your wife did the same thing every week at the end of 6 months u would have the same money without them
i'd rather trade. made almost $5k just today alone.
str8 beasting next week
Ok
But this isn't a pyramid scheme
Like anything dealing with money you gotta be careful
But its basically just an old school extended christmas club
For those who can't do what you do fam
Investing you need to study have resources and understand the system
What you do isn't easily accessible to everyone
I gotta follow your posts more myself cause i want to get back in
A gang of knowledge on this was dropped. Appreciate all of the insight from the fam. I will tell the wife be careful with this, especially coming from this friend of hers. This friend gets caught up in bullshit all the time. In college she got into this church cult at Clark and tried to recruit my wife into it. After that I told her you might need to distance yourself from her.
All of the ones I have heard of are the exact opposite of what you described in that they aren't soliciting people but people are trying desperately to get in. I would be wary of anything that is trying to get people involved...
I'd be down...but it would have to be worth it...$1k contributions
Yeah having a trust worthy person that loves being a pain in the ass...the trini lady ran it
With perfection...she would hound the shit out of people...and she promised to put a curse on anyone that tried to stiff her for money...
A couple of people did and she would put her own money in to make it up
And she always got a nice tip..
Never take for granted a good susu collector
Bruh you get a hundred people...
By the time your hand comes youd be able
To walk in a dealership and drive off with
Something new and foreign..
And go on a three months vacation on the
QE 2........
In an all inclusive suite with balcony
Let me paint a scenario. A group of immigrant families just came into town. They are sharing cramped spaces with family.. stepping over each other lining up to use bathrooms etc.
The community says let's get together to form a Susu where the new families that just came will get the earlier payments so they can get property, etc
So the already established ones help the new comers and still get their money back in the end.
Now they have all have better living conditions and have some equity.
pyramid, illegal in all states. shits been going on for years. there are several court cases on this bullshit stay away
www.click2houston.com
'Blessing looms' pyramid scheme sweeps across Houston
A new scamming trend sweeping the nation has landed right here in Houston just in time for the holiday season.
Susu (sousou) are safe as long as everyone involved is able to contribute till the end.
I participated in two a while back. Mainly to start paying off school debt.
Not a pyramid scheme, more like a loan without interest that you will most likely have to pay into first before getting your draw.
If you are last to draw you basically saved.
Works best if a large amount of cash is needed somewhat immediately. IE: investment, down-payment, pay off debt, etc...
Other than that an individual is better off disciplining themself to save until they reach their target amount. Because in reality you are not making any extra money.
I participated in two a while back. Mainly to start paying off school debt.
Not a pyramid scheme, more like a loan without interest that you will most likely have to pay into first before getting your draw.
If you are last to draw you basically saved.
Works best if a large amount of cash is needed somewhat immediately. IE: investment, down-payment, pay off debt, etc...
Other than that an individual is better off disciplining themself to save until they reach their target amount. Because in reality you are not making any extra money.
No doubt...
It's really good for impulse buyers...
Can't impulse buy when folks that trust you are depending on your timely payments..
There are a lot of comments here speaking about a traditional sou sou. I think you need to confirm if your wife was introduced to that or this new wave scheme calling itself a sou sou. As was said, the former is a way to save and requires people you trust to be involved. Its self contained and once it starts, doesn't require any new money. The latter requires new people and new money in order to work. Like I said, proceed with caution on that one.
Exactly
Set up an online account and automatically deposit the same amount of money every week and its the same shit. These things only benefit the people who get the early hands and even then you are paying the banker a fee out of your hand, which totals to a free hand for them. There is always a motive for these things. Nobody organizes these things to help people out, its for profit.
Im good
the “flower” or “gifting circle” is a pyramid. By definition it’s a pyramid.
People are bored now, very emotional during these times and honestly will believe anything.
I have respect for the one guy who said “fam let’s just get this money” over the people who truly believe this can work long term.
At very least those who get cashed out early wind up reinvesting more to point they are not making money.
either it exponentially grows then burst or it implodes from within.
People are bored now, very emotional during these times and honestly will believe anything.
I have respect for the one guy who said “fam let’s just get this money” over the people who truly believe this can work long term.
At very least those who get cashed out early wind up reinvesting more to point they are not making money.
either it exponentially grows then burst or it implodes from within.
This is what it is that is what SuSu is. Not bringing in other people it is a set number of people. I used to run one at my old job there were 12 guys who put in 50 a week...we did it for years. 600 every few weeks...
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