Ibarra is a retired retail employee. She lives in Chula Vista.
I got here to San Diego County from Mazatlan, Mexico, in 1995. I didn’t converse English, I had no credit score and I used to be a single mom. Life in america was completely different, and it was tough to make ends meet. Fortunately, I had family and met different Mexican households like me who have been simply attempting to outlive, particularly since San Diego is likely one of the costliest cities to reside within the U.S. I had to save cash to purchase a used automobile, pay hire and feed my kids. That’s after I realized about one thing referred to as a tanda from my neighbor who was from Mexico Metropolis.
A tanda is a time period identified to tens of millions of individuals from Mexico who use it as a substitute of entry to credit score. It’s a protected approach to save cash, and that is the way it works. There may be an organizer, and a bunch is shaped of a sure variety of individuals, say, 10. You’d solely take part for those who knew all of the individuals concerned. They are typically household and buddies with a job, trustworthy and accountable individuals with an excellent fame. The organizer would hand out numbers from one to 10. Or everybody would draw straws to see who would get numbers one via 10. Most individuals would need the decrease numbers like one or two, as a result of they’d obtain the “cash pot” first. However whatever the order of the numbers, that’s what that is: a pot. The contributors every contribute $100 each week — in order the contributors rotate each week, somebody receives $1,000.
The organizer is the one who collects all the cash from everybody every week. (Often on a Saturday.) However the contributors should carry the cash to her home, so she gained’t should chase individuals round, losing her time or fuel to gather the cash. The organizer will not be making a revenue by conserving observe of the whole lot. She’s going to often select a quantity herself, so she is saving, too, similar to everybody else.
Each Sunday she is going to go ship the cash to whoever has the quantity that week.
The tanda is very good for somebody who wants $1,000 instantly. And it’s not a mortgage! There isn’t a curiosity concerned.
Most individuals who take part in a tanda have plans for once they obtain their cash — some need to repay a debt or have costly dental work completed (for many who don’t have any insurance coverage). Some individuals will do particular procuring, like possibly for Christmas, take a trip or pay for a daughter’s quinceañera, or possibly simply ship cash to family again house.
What I need to emphasize is this isn’t unlawful. Nobody is charging individuals. There aren’t any charges or contracts, or curiosity. Nobody is promoting something. As an alternative, it’s only a easy approach for individuals to assist one another.
I’ve heard individuals say earlier than, “Don’t lend cash to household or buddies as a result of it all the time ends in a struggle.” However this isn’t a mortgage, in order that gained’t occur.
Relying on the place one lives, there might be variations in title and methodology for a financial savings system like this. Some individuals name it a cundina. Different occasions the organizer will get paid and makes a revenue. It’s like their part-time job. For instance, my comadre Joaquina Flores, in Mexico, made a dwelling organizing cundinas on the similar time. She would gather the cash (bigger portions like $2,500) each week from the contributors however she would get the primary quantity “0.” It was like she was being paid to be the organizer. Then each week as the opposite contributors paid their share to the pot, she would hand out the numbers and the cash to the one who was presupposed to obtain the cash that week.
And similar to the tanda, if the contributors fail to make their weekly fee the organizer is accountable. So, if somebody is considering of placing collectively a tanda or a cundina you need to be sure that the individuals in your circle are individuals you belief.
Tandas have all the time helped me lower your expenses.
There are numerous individuals who by no means cease doing tandas. As quickly as they end one, they begin one other.
Actually, one in every of my buddies at church did a tanda for 4 years. She had one aim in thoughts. She saved and saved with the tanda and put a down fee on her personal home. To me, that’s success and self-discipline.
Right here in America, I discover that Individuals use credit score, however again in Mexico extra individuals favor money. And I’ll all the time favor to reside that approach.