Bike kit savings co-op type thingy… Anyone?

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  • Bike kit savings co-op type thingy… Anyone?
  • Premier Icon Nobeerinthefridge
    Subscriber

    3 riding buddies and I are planning on doing a wee cooperative to buy high priced, rarely used stuff like facing tool, headset press, wheel jig etc. also would be good for buying the likes of gazebos and tents for events too. We’re for sticking away £20 a month each, but I’m not sure of the best way to do it. Obviously either keep it under the bed, open an account and do it by direct debit, or is there anything else? Could say, a PayPal account be opened? Not sure if you can have more than one pp account.

    Any ideas STW?.

    crankrider
    Member

    I hope you are great friends and all good with your tools.

    Tools are the one thing I don’t think I would ever lend to anyone… unless I was there while they were using them so I could take them home.

    Is my attitude nobbish?

    Premier Icon tmb467
    Subscriber

    Stick it in a credit union in a joint account

    Premier Icon Nobeerinthefridge
    Subscriber

    Is my attitude nobbish?

    Not nobbish, maybe slightly untrusting? We are good friends, yes, I don’t foresee any issues with fallouts and the likes, none of us are that way inclined. I don’t know anything about credit unions, I’ll have a look at that.

    wassock73
    Member

    perhaps throw x amount in to get started and then buy stuff ad-hoc and keep track using something like http://www.ioweyou.co.uk.

    i’ve been using this for years for keeping track of who bought gig tickets – easy to set up, log expenses (even if applies to just some of you), log settlements, see who owes who what. makes it easy to see whose turn it is to buy the next thing etc.. certainly worth a play with.

    Premier Icon YoKaiser
    Subscriber

    At work we’ve had Christmas clubs and betting syndicates in the past, we’d convince the most trusty person into opening an account and collecting the money and really running the thing. Seemed to work best with one person doing all the work unfortunately. There must be some info kicking about on how to run a menauge/menage/monauge(I’d look but I can’t spell it never mind run it :-))

    PS we don’t need a spray tan booth.

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