In my country there is a kind of custom that is generally carried out by women, especially housewives or only for large families, to organize "Arisan" which is similar to a social gathering or lottery club. So basically Arisan is a form of microfinance carried out by an association of housewives or families. At each meeting, usually once a month, members deposit money that has been previously determined. The more elite the association, the larger the amount of money for contributions. After the contribution money is collected, it will be shuffled or drawn, and the first winner will emerge who is entitled to receive the money that has been collected from the members. Next, the first winner is obliged to hold a second "Arisan" either at his home, restaurant or hotel. Furthermore, the second winner also has the same rights and obligations, until all members emerge as winners.
I also joined a "Family Arisan" or family gathering with more than 20 members. Based on my experience, the money received as the first winner will be reduced to holding the next social gathering, including buying food and drinks and even renting a restaurant, admin fees will also be deducted, even though they are relatively small. So I think this "Arisan" system is more like paying interest-free credit than saving. Is there an activity similar to "Arisan" in your country?
I also joined a "Family Arisan" or family gathering with more than 20 members. Based on my experience, the money received as the first winner will be reduced to holding the next social gathering, including buying food and drinks and even renting a restaurant, admin fees will also be deducted, even though they are relatively small. So I think this "Arisan" system is more like paying interest-free credit than saving. Is there an activity similar to "Arisan" in your country?
