Interesting Club Ho experiment... the "buddy system"

[Smooth spin scott]

Helping each other out with our problems.

My friends and I have started a Club Ho interest free loan program. Looking for thoughts on this and I will keep everyone posted on how this goes.

I have exactly 18 good golf friends and we are all "club ho's"...new technology, tired of the old and want something new etc.

I have put a simple spreadsheet together with all names and a $ column. When someone wants to buy a new club, we all chip in a small amount and add it to the list.

Example I am looking into buying a new Titleist D2 Driver this year. All the boys have committed $20 each to my purchase. That gives me exactly $360 to cash in on a driver. Each man gets a $20 next to their name and I add what I purchased and what it cost me. The next guy who decides its time to buy a club, he sends me an email with the cost of the item and the math begins. Once you have received all of your initial (in this case $20) back you are no longer allowed to make a purchase using the "buddy system". "Owed" money can be used for clubs, bags and shoes or minimum of $100 purchase.


I have all paypal account names and numbers and all money must be transferred within 5 business days when asked.

Yes we have a little time on our hands, and we think this will alleviate the large chunks of cash we are usually laying out for a 1 time large golf item purchase. So far all 18 have signed up and we are looking forward to see how things turn out.

[memphishorn]

A very interesting concept but at the end of the day if all 18 of your group want a new D2 and everone chips in $20 each time, haven't you spent the same amount of money, all though potentially spread out over time.

 

I would hate to be #18.

[Smooth spin scott]

Exactly, its more about the fact that we can spread large purchases over the next couple of years etc. Saves the bank account and saves the dreadful questions from our wives as to why I spent $400 at a golf store. Also claims can be made in increments of $5 up to $20 from each member at anytime.