

Money with regard to personal finances is considered to be a sensitive topic in India. If you’re wondering why, it’s mostly because money is directly associated with a person’s status in our society. People tend to refrain from talking about it openly.
What’s the difference between saving and investing? Saving is setting aside a certain amount. Whereas, investing is setting aside a certain amount with a defined goal, a purpose. We all can save with the right intent. But investing money not only defines our monetary goals but also defines who we are.
Chit Funds have been around from times immemorial; they are dated back to the 19th century. According to a book written by Edith Simcox, the Malabar Kuri system long existed since the ancient Dravidian Times. Ever since, chit funds have been ubiquitous. In fact, chit funds are a form of ROSCA i.e, Rotatory Savings & Credit Associations which are informal financial institutions around the world, that are locally organized.