Definition, Meaning & Synonyms
sou-sou
noun
/suː ˈsuː/
Definition
A sou-sou is a communal savings scheme popular in various cultures where a group of individuals contribute money into a common fund and take turns receiving the total amount.
Examples
- The friends organized a sou-sou to save for their vacation together.
- In some cultures, sou-sous are a traditional way to help families save money for special occasions.
- She joined a sou-sou at work to build an emergency fund with her colleagues.
Meaning
This term refers to a cooperative method of saving money, where members of a group pool their contributions and share the benefits evenly over time.
Synonyms
- money pool
- savings club
- cooperative savings
- rotating savings and credit association