50-Week IPON CHALLENGE 2017

Hi everyone. This group is intended for the 50-week challenge that Dadventures is launching on 2017.

The 50-week challenge is based on Peso Sense's IPON CHALLENGE 2017 where every person is encourage to save regularly on a weekly basis for 52 weeks so that come the end of the year, you will have a good amount of savings to spend during Christmas.

I know most of us would love to that, but if we do it ourselves, we all knew that most likely, we will not end up completing the 52-week challenge and also end up spending the money that we have saved.

And so, I came up with my own scheme in Dadventures to help us become faithful and be successful in fulfilling the IPON CHALLENGE.

But I added a little twist to it so it will not only help us save but also grow our money a little more and have access to a little financial help come the time that we need it.

So let me introduce to you the "DADVENTURES 50-WEEK CHALLENGE".

HOW IT WORKS. 1. The scheme will run for 50 weeks from January 2 until Dec 11, 2017. 2. To start, a member will commit a certain amount that he/she can save every week starting January 2, 2017 (Monday). It can be as little as P100 or it can be more (but should be divisible by 100). So it can be P100, P200, P300.... 3. For the succeeding weeks, a member can increase or decrease his/her savings based on his/her capacity but it should not be lower than P100. So you can save any amount that you can for that period. (NEW UPDATE 12.22.16) 4. Members' contribution will be collected every MONDAY starting January 2, 2017 until December 11, 2017 (total of 50 weeks). 4. Contributions can be paid thru any of the following methods: a. Cash payments b. Bank deposits thru BPI or BDO (details to follow) c. Online payment thru Coins.PH (details to follow) 5. After the 50 weeks has passed, PAYOUTS will be paid on DECEMBER 18, 2017 thru any of the following methods: a. Cash pick-up b. Bank deposit to any bank of your choice c. Online payment thru Coins.PH 6. Aside from your savings that you accumulated for 50 weeks, you will also get a PROFIT SHARE from all the earnings that our savings will generate. It will be divided according to your shares on the group and will be included also on your payout on December 15, 2017.

WHERE WILL PROFITS COME FROM? 1. PENALTIES FOR LATE PAYMENTS - All contributions shall be paid every MONDAY. If a member fails to pay his/her contribution on Monday, he/she will have to pay a penalty of 2% per day for his/her delinquent payments. For example: Member contribution is P100. if paid on Monday - member pays P100 if paid on Tuesday - member pays P102 if paid on Wednesday - member pays P104 and so on... Member contribution is P1000. if paid on Monday - member pays P1000 if paid on Tuesday - member pays P1020 if paid on Wednesday - member pays P1040 and so on...

PENALTIES WILL BE BASED ON THE AMOUNT OF HIS/HER LAST CONTRIBUTION.

For example: If your last contribution is P500 and you were not able to pay your contribution on time for the following week, you will get a penalty of 2% of P500 per day on the following week.

So if you are 3 days late in paying your contribution and you want to save P100 for that week, you will need to pay P100 plus P30 penalty (P500 *2%*3days).

If you paid late again on the following week, your penalty will be based on your last contribution of P100.

ALL PENALTIES WILL BE ADDED TO THE GROUPS PROFIT SHARING POOL.

2. INTERESTS AND PENALTIES FROM LOANS - As a member, you have the privilege to make a loan from the group fund. You can take a loan to as much as 5x of your weekly payment. Members contribution - LOAN CREDIT P100 - P100 to P500 loan P200 - P100 to P1000 loan P300 - P100 to P1500 loan and so on. - Each loan will incur a 5% interest and should be paid within 15 days from the day of take out to avoid PENALTIES. - The interest will be deducted during the loan take out. - If the member fails to pay within the 15 day period, he/she will have to pay a penalty of 1% per day of delinquency. For example: Amount of loan: P500 (Feb 1, 2017) Interest: P25 (5%) Amount member will receive on take-out: P475 Loan due date: Feb 16, 2017 (15 days from loan take-out) On Feb 16, member needs to pay P500. For delayed payments: Feb 17: P505 (plus 1% of P500) Feb 18: P510 (plus 1% of P500) Feb 19: P515 (plus 1% of P500) Feb 20: P520 (plus 1% of P500) and so on.

ALL INTERESTS AND PENALTIES FROM LOANS WILL BE ADDED TO THE GROUPS PROFIT SHARING POOL.

3. INACTIVE MEMBERS - A member will be considered INACTIVE if he/she fails to pay 4 consecutive weekly contributions. - A member may also be considered INACTIVE if he/she personally expressed that he/she wants to discontinue giving his/her weekly contribution. - If a member becomes INACTIVE for any reason, he/she will not be eligible to gain from the group's profit sharing pool. - If a member becomes INACTIVE for any reason, he/she will only get 80% of his savings and earnings (CONTRIBUTIONS + PENALTIES) on December 18, 2017. - 20% OF HIS/HER SAVINGS/EARNINGS WILL BE ADDED TO THE GROUPS PROFIT SHARING POOL on the week that his/her account becomes inactive. To summarize, our savings will earn thru the following: 1. PENALTIES FOR LATE PAYMENTS 2. INTERESTS AND PENALTIES FROM LOANS 3. 20% OF INACTIVE MEMBERS' CONTRIBUTION ALL PROFITS WILL BE DISTRIBUTED WEEKLY AND DISTRIBUTION WILL BE BASED ON YOUR NUMBER OF SHARES FOR THAT APPLICABLE WEEK.

***Every P100 savings gives you 1 share to our profit sharing pool. ADMIN FEES: 10% admin fees will be deducted from all the profits generated come December 11, 2017.

WHAT CAN YOU EXPECT BY THE END OF 2017? 1. You will get all your savings back during the 50-week challenge. 2. You will get a share from the groups' profit sharing pool. It might be 1%, 5%, 10%, but whatever amount it is, we will just be grateful for that bonus. 3. YOU WILL HAVE A MERRY CHRISTMAS FOR 2017. :) :) :) 4. Kung SFC ka. Makakasama ka na sa ICON 2018. :)

So this is our own version of the 2017 IPON CHALLENGE with a twist of Mutual Fund earning. If you have any questions, you can leave it on the comment section. If you are interested to join us, please PM me.

Thank you and God bless you always.