09-08-2014, 09:05 AM
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.
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.