Let’s start a travel stokvel
8 March 2018 TRAVEL
By Zuko Komisa
Spending time with your group of friends travelling every year to new a destination, exploring the world together is a fantasy many wish for. Sadly you can’t travel if you don’t have money and you can’t have travel money if you don’t save. Don’t be that friend who is always asking how their friends get to travel. Saving makes travelling easier and a stokvel is the best way to start putting money away. A travel stokvel is very much similar to the traditional stokvel, where you find like-minded people coming together to save up for a dream holiday. The truth is black people are very good at saving, they have been doing it for years, it’s no coincidence that R5bn is invested in an estimated 800 000 stokvels in South Africa with nearly half of black South Africans belonging to a stokvel. It’s dubbed to be a major investment vehicle, designed for both short and long-term saving.
So, which destination is on your mind? What adventure are you longing for? The possibilities are infinite. Starting a travel stokvel is a way to go.
Reasons why Stokvels are so popular and work
- Stokvels makes saving easier, with positive encouragement from peers driving you to your goals
- A community pooling together resources makes you earn higher interest in banks, compared to what you’d earn if you were saving alone.
- A sense of community and socialising, building a saving network makes your rand go farther.
- Saving for a specific goal makes it easier to plan your finances.
The trick with starting and managing a successful stokvel is to get the right members, find people who you trust who won’t disappear after receiving a payout, people who will comply with the agreed rules of the stokvel.
The stokvel market continues to be a large industry in South Africa, helping people achieve their dreams. Innovators have also been cited in the sector, people like entrepreneur Tshepo Moloi, who started a mobile App – StokFella. StokFella is designed as an easy a solution for managing you stokvel.
Start a travel stokvel today and reap the rewards sipping a cocktail in an exotic location with your friends and family in the near future.