It’s saddening how our economic situation keeps worsening by the day as a result of unemployment, low level of income, as well as how prices of some goods and services keep skyrocketing day in day out.
Many young and old people have as a matter of fact had very brilliant business ideas over the years but lacks the financial muscles to bring those super ideas to life, even the few who tries to achieve these dreams end up going for loans from financial institutions which usually attract very high-interest rates.
Judging from the hustle and bustle that many people go through to access loans as well as the high-interest rates it attracts, popular Ghanaian actor, entrepreneur, philanthropist, proud farmer, and UN Ambassador John Dumelo thought it wise to share some brilliant savings ideas with his fans and followers across the globe.
The ever handsome, thick tall, and talented actor and politician took to his Twitter page and wrote: “Get 10 of your friends. Contribute 1000gh each month. Each month, one person will collect 9,000. It’s a good form of savings ( for those who receive last) and loans ( for those who receive first). You can increase or decrease the capital though” .
This got a lot of his followers talking, although some would like to buy into his idea, they took their time to ask some very critical questions as some wrote : “There’s no return on investment especially for those who receive last. Imagine for those 9 months you had put 1k down monthly into some investment, you would surely earn more than 9k.
Nonetheless, it may be good for those who do not have money discipline”.
Some also expressed worry about the fact that their friends might end up giving excuses when it’s their turn to collect but hey, what do you also think?
