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+--- Thread: Howdy Partna (/showthread.php?tid=100558)
Howdy Partna - DAWN - 09-08-2014
I live and mingle with a group of Jamaicans that come here for the summer to work. They have this savings plan thing called Partner that they do each time they come. I was invited to participate this year but had to decline and I didn't have that kind of "extra" money to put aside each week but it sure sounds like a good way to save.
Jamaican Customs - Pardner
One of our most widespread customs is "Pardner" (partner), an established method of saving outside the formal banking system. It works like this:
A group of individuals agree that each will save a set amount (called a hand) at regular intervals, usually weekly or monthly. This money is collected by one member of the group who has been designated as banker. So, for example, if 8 pardners throw a hand of $1000 weekly, over the next 8 weeks the banker will pay $8000 (the draw) to one pardner each week until every pardner has gotten a draw.
RE: Howdy Partna - oldtimer - 09-08-2014
I have seen this from the 1st time I worked in Jamaica in the mid 60's . It works great. There use to be 100's of Jamaicans come to Nova Scotia to work on farms and pick apples etc but that has been cut to almost nothing . It changed because of the high "runaway " risk leaving farmers owing $1,000's of $'s in lost visa money's . Now they must have a bank account with their children's name on it to even qualify . That in it's self makes lots not to want to come . The same as workers not coming to work where we did when the company started giving money's directly to proven baby mothers. Throwing a hand is a great concept .
RE: Howdy Partna - Westenders - 09-08-2014
Yeah it can be a great way to save money if everyone pays in when they should.
The mother in law runs one in JA, but she has had problems with people not paying there stake, once they received their pay out.
They are very popular amongst the Jamaican communities over here too.
You can even join a pardoner in the banks in JA,