The benefits of a contributory
thrifting saving scheme:

Financial Discipline

No direct access to your savings

The opportunity for large investment

No charges

Hawkish Group’s main aim is to help support new and established individuals and businesses. We help to help our clients to generate income and find additional support for their companies. One of the support schemes that we offer to help with this is thrift.

‘Thrift’ generally means an individual’s ability to be responsible and resourceful with their money and resources, rather than wasting or overspending valuable funds. Being skilful with thrift doesn’t just benefit and support yourself, but your friends, family, and your company as a whole.

By each paying a monthly contribution, each member of your group will benefit with a monthly lump-sum of money to pay towards important life events that would be otherwise challenging to save up for. Contributory thrift schemes help you to control your spending habits, while losing no money.

If you are interested in taking part in one of these schemes, register with Hawkish Group today.


    Not only is thrift a traditional value in many societies, but it is also an incredibly useful skill in day to day life. Being responsible with how you manage your money can help to support yourself and others around you in tougher times. By contributing together into a group scheme at regular intervals means that you can be protected when you need money the most; both during tough financial periods, or bigger life events such as weddings or other celebrations.

    How Does A Contributory Thrift Scheme Work?

    Practical thrift is a good way of developing a support scheme for yourself and those around you. A group of people will each contribute an agreed sum of money each month, which can then be used at the end of the month by a member of the group towards a bigger life event. This can help with deposits, buying transportation, paying off loans or celebrations. This monthly process then continues until each and every person in the group has benefitted from the thrift pot.

    For example: A group of 12 people agree to each pay in £1000 every month, with one member at a time taking the total £12,000. From January to December, every member has contributed and received £12,000 towards their needs. No one loses any money, yet everyone collectively benefits.

    This is typically an informal arrangement, often between friends, colleagues, relatives, classmates, or traders. If you are looking to form a thrift agreement between strangers, you must have a common legal personality, such as a company, to run the scheme to ensure everyone gets their share. The participating members usually choose a single coordinator of the group to organise the contribution and how the money is distributed each month.

    What Are The Benefits?

    There are many benefits to a contributory thrift scheme. As you have no direct access to part of your savings, this creates a thrifty mindset of living within your means and not dipping into your savings for non-essential items. It also encourages you to save regularly towards a future goal or investment.

    The lump-sum payment received when it is your turn to withdraw the thrift can be incredibly difficult to save on your own, giving you the freedom to put down larger deposits on a flat, a car, or contribute towards a major life event. The transparency in the process means that everyone knows who is receiving what on which month and allows you to negotiate the order in which everyone will receive their payment.

    Overall, the main benefit of the contributory thrift scheme is that is costs nothing. If your group of 12 contributes £1000 over 12 months, the £12,000 you receive in a lump payment is exactly the same amount of money as you have invested in the scheme.

    Once the year has ended, the members of the group are free to start the process over again. If you reach the end of a yearly rotation and do not wish to continue, you can easily cancel and withdraw from the contribution group.

    For example, if there are twelve people in a money contribution group and each month they put in a £1000 into thrift, at the end of every month one person would be entitled a huge sum of £12,000.At the end of the rotation, you can either cancel the contribution or start all over again.

    Need more information about Thrift ? Please contact us