Kutu Funds 
Aug 15 2019, 02:27 PM
QUOTE(Maja Helmi @ Aug 15 2019, 01:56 PM)
Makciks do it for them to have a reason to make monthly party with friends.
Isn't always about money.
Not about money, yeah right.Isn't always about money.
QUOTE(aziratul @ Aug 15 2019, 02:20 PM)
thats wrong concept
kutu you will never receive additional money
example 12 person do kutu with each person contribute 100 ringgit
that 12 person will then choose which month to receive money. So person 1 maybe take january and last person take December. Person 1 will receive 100 X 12 person = 1200 ringgit for that month and remaining month, he/she need to pay 100 each month without receiving any more money. That last person who take December, will only receive his money on December. From Januari to december he still need to fork out his 100 ringgit per month
that is not additional money, it just force saving
Your version is not attractive. Those who receive later lose out in opportunity cost. No money to gain and risk of losing money (banker cabut).kutu you will never receive additional money
example 12 person do kutu with each person contribute 100 ringgit
that 12 person will then choose which month to receive money. So person 1 maybe take january and last person take December. Person 1 will receive 100 X 12 person = 1200 ringgit for that month and remaining month, he/she need to pay 100 each month without receiving any more money. That last person who take December, will only receive his money on December. From Januari to december he still need to fork out his 100 ringgit per month
that is not additional money, it just force saving
The version I heard of:
1. The desperate one can borrow from the fund
2. The one whose turn to receive money can opt to lend to those who need money, with interest payable.
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