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2.11

Feb 22, 2023

Joola: Money Pool with Rewards

Summary

Joola is a savings app that allows users to create and manage group savings pools with friends and family. The app automates payments and makes it easy to track group activities. Users can use Joola to save for various goals such as paying off debt, planning for expenses, or building an emergency fund. The app allows users to join or create groups with payment terms that are comfortable for them. Group members contribute a set amount at regular intervals until everyone has received their payouts. Joola’s money pool feature is a great way to build up savings and access funds when needed.

Features

1. Joola is a mobile app that helps users create and manage savings pools with friends and family.
2. The app automatically handles payments and allows users to track group activities.
3. Joola can be used for a variety of money goals, including paying off debt, planning for expenses, and building an emergency fund.
4. Users can join groups with payment terms that fit their comfort level and contribute to the group money pool at regular intervals.
5. The app offers a convenient way to build up savings and access funds when needed.

Keywords

Joola, Money Pool, Rewards, Savings, Group Activities, Payments, Debt, Major Expenses, Emergency Fund, Contribute

Joola helps you set up and manage savings pools with your friends and family. It’s easy to track group activities because Joola automatically handles payments!

You can use Joola to pay off debt, plan for major expenses, or build an emergency fund.

****** HOW IT WORKS ******

1. Create or join groups that fit your money goals

Choose groups with payment terms you feel comfortable with.

2. Contribute to your group money pool

Each group member contributes a set amount at regular intervals (bi-weekly, monthly) until everyone has received their payouts.

3. Get paid when it is your turn

The money pool is a great way to build up your savings and access funds when needed.

****** PRICING AND REWARDS ******

The first payout – pay 7% per group payout.

For example: If you join a group of four people and each person contributes $100 per month, the total payment will be $300. If you are third in line for individual payout from that group, your service fee would only be $21.

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The second payout in the group – pay 6% per group payout.

For example: If you join a group of four people and each person contributes $100 per month, the total payment will be $300. If you are second in line for individual payout from that group, your service fee would only be $18.

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The third payout in the group – pay 5% per group payout.

For example: If you join a group of four people and each person contributes $100 per month, the total payment will be $300. If you are third in line for individual payout from that group, your service fee would only be $15.

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The last payout position in a group will receive +1% per payout.

For example: If you join a group of four people and each person contributes $100 per month, the total payout will be $300. You will earn a cash bonus of $3 for receiving the last group payout.

****** WHAT IS JOOLA? ******

✓ Joola is a digital version of the Rotating Savings and Credit Association (ROSCA).

✓ Joola combines security measures enabled by technology with cultural traditions from across the world to empower people to save.

They are commonly known as tandas (Latin America), chama (Swahili-speaking East Africa), stokvel (South Africa), susu (West Africa and the Caribbean), hui (會) (Chinese communities in East and Southeast Asia), gye (계) (South Korea), tanomoshiko (頼母子講) (Japan), Chit Fund (India), pandeiros (Brazil), juntas (Peru), arisan (Indonesia), lenshare (เล่นแชร์) (Thai), dhukuti (Nepal), and menage (Scotland).

✓ Joola helps individuals save and build better financial habits by making it easier for them to work together.

****** EASY AND SECURE ******

+ Joining a group is easy and free, so invite your friends!

+ We will never share your information with any third party without your consent.

+ We take every possible measure to ensure the safety and confidentiality of your data.

Disclaimer: Joola is not a pyramid scheme, lender, advisor, broker, credit repair company, credit reporting agency, or financial institution. Joola does not give away money for free.