Going on group trips, outings and getaways with your friends and family can be tons of fun. However, getting everyone on one accord concerning details of the trip can be challenging, especially when finances are involved. Well, Yahoo Finance has introduced their new mobile app, Tanda: Saving with Friends to help solve this issue.
Tanda is designed to help you save up for the things that you want with the support of those you trust. Tanda allows people to join a group of five to nine members, in which each member undergoes an identity verification. Members contribute a set amount of money into the shared pool and the cycle repeats until everyone receives a payout. If you’re still uneasy about the process, Tanda gives you peace of mind by covering contributions of group members if they stop contributing.
With Tanda, you sign up with a valid ID and U.S. bank account. Then you’ll create a savings circle with friends and choose a payout position (certain fees and restrictions may apply). Lastly, you’ll make regular contributions into your shared pool and take your payout when it’s your turn.
So what are you waiting for? Grab your crew and start saving today.