Or is there absolutely no point in menages?

[WhenSepEnds]

Not sure if this is a Scottish thing, but this is essentially a saving scheme where a group save money each week or month and then can each choose a different date to lift their lump sum of money. AIBU or is this just pointless? Why would you not just save the money yourself!? Are there any benefits?

Wasn’t it just an old fashioned thing to make saving easier and slightly more appealing? An excuse for a wee get together too I’m sure!

Maybe some people me would be more likely to spend the money if they just put it aside themselves. Saving it in a Club means that you can't do that!

What @IsDaveThere said

I take part in them because I'm useless at saving. If the money is there I will spend it.

I thought this thread was going to be about threesomes.

I thought it was about sandschools

@Udouhun

I thought this thread was going to be about threesomes.

Me too 🤣

I thought it was about horses.

Cor I remember the Club Lady coming round. Salford in the 70s. Also remember being dragged into the kitchen to hide as my nan had no money that week but wanted to save face .

@OtherPlans

I thought it was about horses.

That would be manèges.

That's how building societies started. Everyone would put in money regularly, and then they took it in turns to buy a house.

@Udouhun

I thought this thread was going to be about threesomes.

Me too

It's just like the Christmas savings clubs that sued to be run in factories and coal mines. Bit old fashioned but no harm.

Bit old fashioned but no harm

Until Arthur steals it all… 😲

Oh, I actually like this idea! I'm shit with money and have poor impulse control but fear is an excellent motivator for me 🤣

So being scared I'd get told off for not doing it would make me save AND I couldn't just spend it all as soon as a little bit added up...

The advantage is that it speeds up access to the lump sum for everybody but the last person.

So if 30 people agree to save £10 a week, for 30 weeks, they could all do it separately and in 30 weeks time each have £300. Or they can club together and every week throughout that period someone will get £300.

This sounds similar to something my gran used to pay into, she called it a diddlum

@OtherPlans

I thought it was about horses.

Yup, me too! Disappointed now....

I can remember this as a Yorkshire thing from my childhood.
I think they originated when it was very difficult for people to borrow money ( think pre credit cards and bank loans difficult for people on low wage) They were often groups of women who clubbed together, they had very little disposable income, maybe only pence a week so these clubs were a way of being able to have a lump sum of money to spend ( interest free) and everyone in the group was on an equal footing.

@Udouhun

I thought this thread was going to be about threesomes.

sorry to disappoint

@Nomoreusernames1244

Bit old fashioned but no harm

Until Arthur steals it all… 😲

@Hollyhocksarenotmessy

The advantage is that it speeds up access to the lump sum for everybody but the last person.

So if 30 people agree to save £10 a week, for 30 weeks, they could all do it separately and in 30 weeks time each have £300. Or they can club together and every week throughout that period someone will get £300.

Aw that's a good point! Thanks

I remember doing it years ago with my work . Colleagues .Great idea in theory but I was stung badly. I was the last person to take their turn and 1 person in the group went off on long term sick that month . I had to chase their payment and finally received it 3 months later. I felt bad chasing as they were off ill but I was also a bit annoyed as they had received their full share earlier in the year. It can definitely work if everyone plays fair but unfortunately my experience wasn't great.

@CustardySergeant I know
Actually this savings scheme sounds familiar. I wonder how common they are now.