Tandas: Ancient Savings Circles in the Digital Age
Bakersfield News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Tandas: Traditional Savings Circles Thriving in the Digital Age
Tandas, rotating savings circles popular in Latin American communities, are modernizing with apps and online tracking. Groups like the Education and Leadership Foundation partner with Mission Asset Fund to run them digitally, building community trust and avoiding bank fees or debt. Participants, like David Medina and Carmen Cardenas, appreciate the interest-free way to save and borrow, even using it to fund holiday shopping and birthdays. Tandas, with roots in Mexico and Asia, are catching on with younger folks, helping build credit scores through apps, proving this old-school method fits perfectly in the digital age.
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