Slow and Steady

Thinking of starting a Pardner

Posted on: May 6, 2009

Pardner is something people from the Caribbean used to do when they first came to England and couldn’t get bank accounts, or didn’t trust the banks.

How it works is that a group of people got together and would put a set amount of money in for a set amount of time. Each week someone would get some money, and then they could start it all over again.

I have memories of going to ‘aunty’ Carmen’s house every week to give her my gran’s share or ‘throw her hand’ as we say.

For example there could be 20 people in a pardner group and they would ‘throw their hand’ of £10 a week  for 20 weeks. Each week someone gets £200.

As I got older, the system became virtually non existent as bank accounts were easier to get and some non trustworthy people would pay until they got their lump sum and stop paying.

I know of a few people who are struggling to save and this might be a help to get a lump sum.

Obviously there has to be a great deal of trust, and I’ll have to think carefully about who I invite in.

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2 Responses to "Thinking of starting a Pardner"

I do every other pardner draw. Though at times I feel I should really be saving my £20 each week myself somewhere.

oh yeah you dont want people you have to run down to get money each week

It’s funny as I’ve started talking to people, I’ve realised that there are more pardners around than I thought.

I think if you are doing long term saving an ISA or a regular saving account would be a better home as you get interest.

But for money you are going to need, pardner is a great way to save.

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