Yall talking about saving. The ones my coworkers are in, you put in a small amount in, and you get $$ back within a week or two. Of course, they are hoping you pay back into it once you get paid.
Susu (Sousou) meetings
- Thread starter hajjibear
- Start date
That’s the point. So I’m mentally out there right? I’ve spent my entire life trying to find a “cure” for capitalism. And I discovered it last year.
The goal isn’t to make money off your brothers and sisters. We aren’t parasites.
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A good sou sou group will never have ONE person controlling the money. The money only goes to the person being gifted that month. Also, a good sou sou group never has to expand the group once the membership is set. Good groups aren't ponzis or pyramids. They work because everyone is committed to putting back in every month to restart the process. Being a part of a good group can put serious extra money in your pocket every month.
That is a pyramid scheme.
Why not just put $100 in your saving account one a week. In 5 weeks you’ll have $500 and don’t have to worry about someone running off with the $$$.
That's not how it works.
If FIVE people put in $100 per week, how much do you then receive if the 5th week is yours?
edit: You waited a week at the start in ours.
because most folks wont stick to that, they will find a reason not to put in a hundred dollars one week,
then another week, and pretty soon they forgot about their little plan..
with a susu, you got a whole team of muthafuckas reminding you....
of your little plan...
its not easy, most folks who get an early hand be wilin,
they think they can pay for a few weeks and once their
hands come,
they dont have to pay anymore...youd be surprised how many folks
didnt realize you have to keep paying after you get your hand.
I loved getting my hand near the end....
took dope vacations....
next one Im doing, Im hitting up, west, north, central, south and east africa..
All I'm saying is it's impossible to get out more than you put in unless:
A. You get paid and leave the group before it cycles back.
B. It's a pyramid scheme
If it's for people where the bank system is corrupt and the community is strong that would work. In the US there's no need for this. You're not making extra money as long as you stay in.
Yes, and when you "win" you will pay that $100 per week until everyone else has a win. It's still The same amount of payout overall.
Just addressing his own example.
Well the hustle is to run an honest su su, and the one running it, could make nice change..
because when people get their hand they usually give them a big tip,
especially if its a big one....
but its a lot of work and tracking people down, so the deserve a tip.
but yea, they ones running it could add a few extra geez to their bottom line at the
end of the year, if they get responsible people in their group...
That's not true, man. What makes this work is the commitment of all the members to stay in and continue to put in every month. If you're doing this at the $500 level, that's a cool $3500 monthly after you re-up your $500. If everyone does their part, it works flawlessly. It's not a pyramid if its done right. There are good groups and bad ones. The bad ones give everyone else a black eye and that's sad because people are missing out on an opportunity to get ahead.
The one I'm in and my coworkers are in, you dont pay again until you get cashed out. So you pay 1 time to get in, wait your turn to get cashed out, then pay to get in again, if you want.
Its the same shit
U still have to pay back out the other weeks
Its not a tip its a fee
I tried to explain this to BGOL about a month ago. Personally, my experience has been amazing! Straight come up. I look at it no differently than going into a casino. Dont go ass-bettin and you'll be okay. I trade stocks and ETFs. So my mindset is that of a trader. This is completely recreational. No different than taking a few thousand and betting the over on the Birds game. Stop making this shit something it's not.
I'm speaking purely about the money game. Thats a board where you don't have to bring 2 people and all that. Its literally just playing the odds on a board involving others and trying to make it to the pY position. The return on it isn't bad.
I'm speaking purely about the money game. Thats a board where you don't have to bring 2 people and all that. Its literally just playing the odds on a board involving others and trying to make it to the pY position. The return on it isn't bad.
I hear ya....
Lady that ran the susu I was in for over a decade never charged a fee....
I guess because she was an associate that reported to me..
Or maybe it was because she was always thankful
Because one dept was letting her go..
She was an elder lady and was crying...
And was always low Key grateful
this is where the fam and I cant agree.
You can’t say it isn’t a pyramid when it is.
when you calling everyone you know to see if they want to get involved in an opportunity that is not only too good to be true but also better if you hop on now.....it’s a pyramid.
I wish them well though. Always love.
Some people in thread are not keeping up, there is traditional sou sou (partner) then there is the blessing loom or flower as it’s going by now.
My fault fam, I definitely took shit off track. I was talking about the Blessing Loom. I didn't have ANY luck with the Susu mainly because its too reliant no people doing there part.
Wife is from Trinidad
Good with family only
Good with family only
You giving out tips on your money?
If this is what you say it is, you're giving people your money cause you can't save it. Lets say it's 52 people $100 per week. Unless you hit the first week and get the pot $5,200.00 and quit (making $5,100.00) you will be paying $100 per week for 51 weeks before your number hits again.
Why would anyone living in 2020 do this? Are you hoping for a quick payment? You still need to keep putting in the $ or the entire thing falls apart. There's no way that people that can't save money are responsible enough to continue to contribute in a steady manner.
If this is what you say it is, you're giving people your money cause you can't save it. Lets say it's 52 people $100 per week. Unless you hit the first week and get the pot $5,200.00 and quit (making $5,100.00) you will be paying $100 per week for 51 weeks before your number hits again.
Why would anyone living in 2020 do this? Are you hoping for a quick payment? You still need to keep putting in the $ or the entire thing falls apart. There's no way that people that can't save money are responsible enough to continue to contribute in a steady manner.
My coworker introduced me to the $500 with the $3500 payout one, but I was skeptical and hate asking people to take a risk like that on some shit that I haven’t benefited from. I did try the $100 one. I didn’t have to bring anyone in and I got paid $800 in less than a week. Reinvested a 100 on that 1 and 200 on another. Board is moving slow now and haven’t been paid again. If I don’t, oh well at least I profited something. It could work if people would reinvest.
If everyone is paying the exact same amount and doing the exact same thing and no one person is getting most of the money, it's not a pyramid scheme. And as I stated before, there are good groups and bad ones. Good groups aren't openly advertising because they are looking for a people on solid ground. Not folks who aren't dependable. That's what makes the bad groups bad...they take anyone and most folks don't have the discipline to do it especially on a level of $500 and above.
I see a lot of ignorance in the beginning of this thread.
the real sousou, which is practiced by a lot of west indian communities is not for profit at all.
its a simple way of pooling money into a lump sum and helping each other out.
so all this, if you put blablabla a week into a bank account is uncalled for because most susu participants do have a bank account.
the thing about susu is that it was founded and works best for people who don't have a bank account, no papers or are here illegal.
they can't get a loan and when they are in a jam the administrator can ask someone to give up their spot to help the person in dire need.
everyone still gets their money eventually ( given that everyone is trust worthy and continues to pay )
My mom has been running one for years with almost 50 to 100 ppl, the hand is $10k or 15k I think.
she doesn't get a cent, unless someone gives her a tip when they collect and many times people were in a bind ( court, broke car, kids college tuition, etc etc etc ) and she would ask the person whose turn it is to get paid if they dont mind getting paid next month because x y and z needs help.
it always works out.
the real sousou, which is practiced by a lot of west indian communities is not for profit at all.
its a simple way of pooling money into a lump sum and helping each other out.
so all this, if you put blablabla a week into a bank account is uncalled for because most susu participants do have a bank account.
the thing about susu is that it was founded and works best for people who don't have a bank account, no papers or are here illegal.
they can't get a loan and when they are in a jam the administrator can ask someone to give up their spot to help the person in dire need.
everyone still gets their money eventually ( given that everyone is trust worthy and continues to pay )
My mom has been running one for years with almost 50 to 100 ppl, the hand is $10k or 15k I think.
she doesn't get a cent, unless someone gives her a tip when they collect and many times people were in a bind ( court, broke car, kids college tuition, etc etc etc ) and she would ask the person whose turn it is to get paid if they dont mind getting paid next month because x y and z needs help.
it always works out.
This right here sums it all up. It only works if you keep bringing in people and I don’t think it’s sustainable based on that model.
bank account or no bank account if u have self descipline its the same shit
first hand experience the banker gets a free hand 99.99999% of the time
I have friends and family that have been doing it successfully for more than 40 years.
Whoa! I’m assuming it’s a close family/friends circle and it doesn’t require you to bring in people? Or does it?
Y'all still discussing this pyramid scheme? Jeez...
It's always been among close family and friends. I personally don't do it but my mother, grandmother, aunts and uncles used it for as long as I can remember.
for all that are confused, this is what has been referred to here in the thread as the modification of the sou sou.
Pyramid schemes and MLMs have become prevelant again during COVID. People trying to take advantage of the stimulus and unemployment checks.
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