A sous-sous is a type of French coin, equivalent to one-sixtieth of a franc. The coin was first minted in 1640, during the reign of Louis XIII, and was in circulation until the introduction of the Franc in 1795.
Made of copper, the sous-sous had a value of 1/20th of a French Livre, which was an old form of currency prior to the Franc. The majority of these coins had a face value of either one- or two-sous. The coins were inscribed with the Greek letters SP which stood for ‘Sous-sous Pour’, which translates as ‘Sous-sous for’ in English.
The sous-sous were popular among shopkeepers, tradespeople, and tavern-keepers during the 18th century. Since it was a fraction of a franc, the coins were large enough to quickly count out when making transactions.
The sous-sous played a vital role in the French economy, allowing small purchases to be made and aiding France’s financial stability.
The sous-sous coins are now quite rare and are highly collectible. For a coin collector, these coins are a great addition to any collection as they represent a piece of French history.
How do you form a sou sou?
Forming a sou-sou is a collective savings and investment method that a group of people can use to build pooled resources. It is a form of a rotating savings and credit association and it is believed to have originated in West Africa.
The steps to form a sou-sou are as follows:
1. Select a sou-sou leader. This person is going to be responsible for guiding the group and for organizing meetings and managing the sou-sou responsibly.
2. Elect a treasurer. This person will be responsible for counting, recording and depositing contributions as well as ensuring that the sou-sou funds are used appropriately.
3. Determine the amount and frequency of the contributions. This is typically a certain amount that is contributed on a weekly or monthly basis.
4. Create a schedule for collecting and disbursing funds. This should include who pays when, as well as how often payments are disbursed.
5. Understand the consequences of defaulters. Defaulters will not receive any of the profits earned by the sou-sou and could be asked to retire from the group.
6. Decide on a system for disbursing funds. You can choose to disburse funds based on seniority in the group, the date members join, or on a rotating basis.
7. Decide who is eligible to benefit from the sou-sou. You can choose to only include those who are part of the original group, or to allow new members to join.
The key to forming a successful sou-sou is to ensure that all members understand the rules, expectations and responsibilities. This is important for the success of the sou-sou as it will ensure that everyone follows through with their commitment and that the sou-sou operates in an efficient and responsible manner.
What are the benefits of a sou sou?
Sou sou is a type of community-based savings and credit system commonly practiced among African-Americans and West Indians, but can be found among ethnic communities throughout the world. Participating in a sou sou is a great way to achieve financial stability, but the benefits extend beyond simply managing money.
A sou sou fundamentally creates a sense of financial community. Participants pool their resources for a common purpose and make regular contributions to the group. It creates mutual support and responsibility to pay what is due and make sure the group meets its financial objectives.
Members of the sou sou are essentially putting their money to work as a team and reinforce their commitment to work together to save and make sound investments.
Like any form of saving, a sou sou can be empowering to individuals with limited financial resources or those who need help developing responsible savings practices. By investing in a sou sou, members learn about financial goals, time management, and other important lessons.
It can also help participants develop financial literacy and personal management skills.
Additionally, a sou sou can provide a great opportunity to build relationships and mutual trust within a community. It’s a way to build social capital and get people to come together and interact with each other.
Mutual trust and respect is essential to the ongoing success of a sou sou and provides an essential platform to strengthen the bonds of community.
Finally, the practice of a sou sou can build economic stability and create economic self-sufficiency. By placing money into a sou sou, participants have access to a larger pool of funds that can be used for various types of investments.
This can lead to greater economic power and stability for individuals as well as larger communities.
Why do people do susu?
Susu is an informal form of savings or loan-making system, usually found in African, Caribbean, South Asian and Middle Eastern communities. It is a way for a group of people to collectively save or lend money to each other with members contributing regularly to a fund.
The practice of susu allows people to pool their resources, build a sense of mutual trust, and expand economic opportunities. The benefits are especially attractive to those who lack access to the financial services sector or who cannot afford traditional loan products.
It provides the ability to access money in a quick, convenient, and safe way.
Susu also encourages financial discipline, and it helps members build their credit histories which can enable them to access more formal financial products when needed. Furthermore, research shows that involvement in susu can reduce poverty and create economic stability, allowing participants to invest in their future and break out of poverty.
Lastly, it provides a sense of community, both social and economic, which then creates an environment for mutual support amongst the members.
How long does a sou-sou last?
A sou-sou is typically a savings collective, originating in West Africa and practiced in African diaspora communities, where members contribute equally to a common fund on a regular basis, and later receive the collective amount in a single payment.
As such, the length of a sou-sou varies depending on the amount of money to be saved, the system of when and how the contributions are due, and the interval of the payments. A sou-sou could last for a few weeks, or it could last for several months or even years.
Typically, a sou-sou lasts until all members in the collective have saved up their predetermined goals and agreed upon payments have been made. As such, the sou-sou will not last forever and may become longer or shorter depending on the contributions and how quickly the goals are achieved.
How does a traditional sou-sou work?
A traditional sou-sou is a communal saving practice popular among groups in the Caribbean and West Africa. Under this system, all members of the group contribute regular, predefined amounts each week (or month) into a sou-sou pot.
The money is pooled together and kept in a rotation order, meaning that at each payment cycle a person in the sou-sou will become the “banker” and receive a lump sum sum of the pooled money. At the end of the cycle, the pool can be shared equally among all members, or each member may receive different amounts as agreed upon at the start.
This system of payment allows each person to save with other people or borrow money from the group.
The key benefits of a sou-sou are the community trust and mutual support it provides for members of the group. Since all members voluntarily contribute their money to the pool, everyone has an incentive to hold each other accountable and make sure everyone sticks to their commitment.
This also provides collective security since the group finds ways to support each other in times of need like paying off debts or shouldering expenses that can’t be paid in full. Additionally, sou-sous are also a great way to ensure a steady savings plan without many of the restrictions of other banking services.
What is a Haitian Sol?
A Haitian Sol is the official currency of Haiti and is denoted by the symbol HTG. It was introduced in 2006, replacing the gourde as the country’s official unit of currency. One Haitian Sol is made up of 100 centimes and is currently worth approximately 0.
011 US Dollars. It is subdivided into five gourdes and is available in coins of 1, 5, 10, 25, 50, 100 and 500 gourdes, and banknotes of 1, 5, 10, 20, 50, 100, 250, 500 and 1000 gourdes. The exchange rate for the currency has fluctuated over the years due to political and economic factors.
Is the blessing circle a scheme?
No, the blessing circle is not a scheme. It is an ancient practice used by many cultures around the world, including Native American tribes. Also known as “sharing circles” or “Talking circles,” this practice is used in community circles, professional workshops, and many other circles of influence to help people connect, share their stories, and build community.
The blessing circle is typically lead by one or more facilitators and begins with a few moments of silence, allowing participants time to focus and relax. Facilitators usually ask questions to help participants share their stories, while the group listens attentively and offers support.
The group then receives blessings from the facilitator according to the group’s wishes. The blessing circle is a powerful practice that allows people to connect with each other on a deeper level than would be possible without it.
Is Pardner illegal?
No, Pardner is not illegal. Pardner is an online dating app that uses a form of artificial intelligence technology to match users based on a combination of their hobbies, preferences, and compatibility.
The app has been approved by Apple, Google, and the Federal Trade Commission, which indicates that they have gone through their rigorous review process and have been vouched for as safe and secure to use.
However, as with any app or technology, it is important to practice responsible digital behavior and to be mindful in regards to personal information shared on the app. Additionally, users should be mindful of the platform’s terms of use in order to ensure safety for both yourself and your matches.
What is a susu in jamaica?
A susu in Jamaica is a traditional and ancient system of rotating loans and savings among a group of people. In Jamaica, the susu works by collecting small amounts of money from a group of people (normally family, friends, and colleagues) on a weekly basis, and then distributing it to one of the members in the group on a rotating basis.
People can choose to save their money until the round is complete, or utilize the money immediately by investing in the business, buying goods, or paying bills. The money collected is usually split into a savings fund and a loan fund.
The savings fund is usually earned by interest, and can be used towards investments or long-term goals. The loan fund is used as requested by members of the group, and paid off as agreed by the group.
Susu is also used as a form of informal banking system, and allows people who have limited access to banking services to access their own funds.
Where did Sou Sou originate?
Sou Sou is a term used to refer to a rotating savings and credit association, a type of informal financial institution which originated in West Africa. Sou Sou has been used as a means of access to credit in many African countries for hundreds of years and is still a popular form of banking today.
While the exact origin of Sou Sou is unknown, it is believed to have its roots in the ancient custom of rotating credit associations in Africa. Sou Sou is based on the concept of collective trust, which is the idea of allowing members of a group to pool their resources together and make mutual agreements to contribute a set amount to the group account for a specified time period.
As far back as the seventh century, the Yoruba of Nigeria had high-level trade networks that spanned numerous countries, and these networks likely relied on rotating credit associations as a form of financing.
Such associations were also found among the Hausa people of present-day Ghana, Mali, and Nigeria.
In West Africa, the articulation of the idea of Sou Sou would come later in the form of rotating credit source called Susu (or ‘soucou’, as it is sometimes spelled). Through Susu, each member of the association could save or borrow a predetermined sum of money each month.
Sou Sou is still widely used today in West African countries and the Caribbean to help members access credit and save money. This system relies on each member of the association being reliable and honest and contributes to the community-minded financial ideals that often characterize traditional African societies.
What does Sou West mean?
Sou West is a French phrase that roughly translates to “south west” or “southwestern”. It is typically used in the context of describing a geographic area or the direction one is heading in or the focus of something.
For example, if someone is talking about an event in the Southwestern United States then they may refer to it as the Sou West Event. It is also sometimes used when talking about cuisine from the Southwestern United States, as in Southwestern cooking.
Additionally, it can be used to refer to a certain style of clothing that is popular in the Southwestern United States, such as cowboy hats and boots.
Who is the founder of Sou?
Sou is an online platform created to empower individuals to learn, create, and collaborate around meaningful impact. It was founded by a team of experienced entrepreneurs, led by Aldo Romero and Michael Schnurr.
Aldo was formerly the CEO of OneNumber, the first AI-driven financial planner and Michael the CTO of HomeToGo, the leading vacation rental search engine. The team brings together experience from successful technology companies and executive roles.
The company was founded in 2020 and is headquartered in Berlin, Germany.
Do you have to live on campus at SOU?
No, you do not have to live on campus at SOU. SOU has both on-campus and off-campus housing options for students. Those living off campus will be able to choose from many local rental and housing options as SOU is located near a variety of rental houses and apartment complexes.
The university also offers a housing referral service to assist students who wish to find off-campus housing. Additionally, there are other options such as staying with a friend or family member. Ultimately, the decision is up to the student and will depend on the individual’s specific needs and preferences.
What is a susu Sou Sou & How does it work?
A susu sou sou is a traditional savings system utilized by many within the Caribbean that allows members to save and borrow money. The system is based on mutual trust and works in the form of a rotating savings and credit association.
Participants contribute a pre-determined sum to a shared pot of funds and rotate taking turns withdrawing the entire pool of money. In effect, it works similarly to a modern-day loan shark.
For example, if there are 10 people in the group, each person puts in $10 per month, which adds up to $100. Every month, the group appoints a different person to withdraw the full $100 with the notion that they will replenish the money when it is their turn again.
This process continues until each participant has withdrawn the entire amount of money at least once.
The system gives each person involved the security of knowing that their money is safe and also forces members to save in order to partake. By doing so, it helps people save and borrow money without having to deal with banks or other financial institutions.
Additionally, it has become a great way for many to form a financial network, especially within areas where access to reliable banking is limited.