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Author Topic: Wise thing to do with your savings.  (Read 6415 times)
wvizmanos
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May 27, 2018, 11:08:42 PM
 #141

In my side of the world, the most common advice about emergency funds is that we must have in our possession, 3 times of our monthly earning. (with emphasis on "possession)".
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May 27, 2018, 11:23:24 PM
 #142

I see that many of you actually liked the concept of 20 % method wherein you allot 20% of your earnings to be saved as emergency fund.
So I was thinking, if that 20% allotted will be invested in a time deposit kind of account, will it still be possible to earn as much or invest it in cryptocurrency? Or maybe just let the money sleep until such time you will need it?
What will be a wise kove to do with the noney you have saved up?
Just like you i only invest 20% of my savings on cryptocurrencies.  Then 50% will be my savings on the bank for the future plans. And the remaining 30% will be for my family daily spendings and house bills.

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May 27, 2018, 11:33:04 PM
 #143

I see that many of you actually liked the concept of 20 % method wherein you allot 20% of your earnings to be saved as emergency fund.
So I was thinking, if that 20% allotted will be invested in a time deposit kind of account, will it still be possible to earn as much or invest it in cryptocurrency? Or maybe just let the money sleep until such time you will need it?
What will be a wise kove to do with the noney you have saved up?
Just like you i only invest 20% of my savings on cryptocurrencies.  Then 50% will be my savings on the bank for the future plans. And the remaining 30% will be for my family daily spendings and house bills.
I'm reciprocal of it, I prefer now crypto than bank, since I already see the potential of more increase in trading than in bank. It's just more risky than it is.


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May 27, 2018, 11:51:38 PM
 #144

With the rest of the savings, you can do investments in different fields as per your skills and experience. If you want to get started with crypto, do proper research and study otherwise you will be just gambling your hard earned money.

Agree!.
That way, crypto can also give high profits, even the highest among other types of investment. However, related to investment in crypto, we also need to pay attention, risk factors that we will face at any time, lest we buy the wrong crypto. If we buy crypto from a poorly performing exchange, it is not impossible the crypto we invest in their exchange will actually decrease and may even be exhausted.

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May 27, 2018, 11:56:39 PM
 #145

I see that many of you actually liked the concept of 20 % method wherein you allot 20% of your earnings to be saved as emergency fund.
So I was thinking, if that 20% allotted will be invested in a time deposit kind of account, will it still be possible to earn as much or invest it in cryptocurrency? Or maybe just let the money sleep until such time you will need it?
What will be a wise kove to do with the noney you have saved up?

Savings is different in investment. If you say you want to save 20% of your income then you should not use it to invest in any form of business. So if you want to invest in cryptocurrency then find other means of money to invest with and not the 20% you want to save.

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May 28, 2018, 01:45:29 AM
 #146

I see that many of you actually liked the concept of 20 % method wherein you allot 20% of your earnings to be saved as emergency fund.
So I was thinking, if that 20% allotted will be invested in a time deposit kind of account, will it still be possible to earn as much or invest it in cryptocurrency? Or maybe just let the money sleep until such time you will need it?
What will be a wise kove to do with the noney you have saved up?
I think emergency funds should be saved in fiat money. because emergency funds are used at any time. if we keep it in the form of investment deposit or cryptocurrency then we will need time to change it in fiat form. why should we change to fiat form. because as far as I know there is no hospital that receives cryptocurrency as a means of payment. and also the number of stores that receive cryptocurrency a bit.


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May 28, 2018, 01:57:07 AM
 #147

Saving is the first step in learning to manage your money. Learn to manage money while, also want to control oneself to outside world flower world "desire". Take 50, 100, or 200 yuan out of your paycheck account on a regular basis. Give yourself a bit of time to adjust to a life where you have less disposable cash than you used to, and see how you've changed. After 2-3 months, increase the amount of each withdrawal from the payroll account. I think it's a very good idea.
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May 28, 2018, 01:59:33 AM
 #148

I see that many of you actually liked the concept of 20 % method wherein you allot 20% of your earnings to be saved as emergency fund.
So I was thinking, if that 20% allotted will be invested in a time deposit kind of account, will it still be possible to earn as much or invest it in cryptocurrency? Or maybe just let the money sleep until such time you will need it?
What will be a wise kove to do with the noney you have saved up?
Emergency funds are not to be deposited in a time deposit account. Time deposit accounts have specific time before you can withdraw it and you can never tell when you are in need of it. Also it is not wise to invest emergency funds because you are doing away with the main purpose of such savings.
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May 28, 2018, 03:43:54 AM
 #149

Yes, saving is a very nice virtue, showing appreciation for the results of labor from your efforts. It helps us build a reserve fund or use it to invest and find better results for lives, families and future. Of course, when there is a savings fund. Depending on the thinking and creativity of each person to transform it into a form of investment. Someone choose to save money in the bank. someone choose the form of opening shops ... In particular, I personally choose crypto and bitcoin is the form of long-term investment from saving fund.
ivandu
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May 28, 2018, 03:48:45 AM
 #150

With the rest of the savings, you can do investments in different fields as per your skills and experience. If you want to get started with crypto, do proper research and study otherwise you will be just gambling your hard earned money.

Agree!.
That way, crypto can also give high profits, even the highest among other types of investment. However, related to investment in crypto, we also need to pay attention, risk factors that we will face at any time, lest we buy the wrong crypto. If we buy crypto from a poorly performing exchange, it is not impossible the crypto we invest in their exchange will actually decrease and may even be exhausted.
that's why we need observation and research about crypto.this different with other invesment portofolio.so many project that developed by bad team.so we have to know about this before decided to investing in crypto.

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May 28, 2018, 04:09:41 AM
 #151

There must be a proper planning where to subdivide wisely your funds and make sure you choose the right investment with earning potential. Of course always scatter the placing of investment and savings so that there is always a support and fall back in case the other one fails. And make portion for business perhaps for your daily needs support also.
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May 28, 2018, 04:53:11 AM
 #152

Invest it in the trusted and successful company that you know. And also expense it in what you need and right things. you may also invest it in bitcoin. There are many things that we can do in savings that you have. Just be wise.
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May 28, 2018, 05:10:50 AM
 #153

I think the best thing is to have a nest egg worth 3 months of your salary, this will be used for when you lose your job. Next is get insurances, grow up and an adult it's good for you.
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May 28, 2018, 05:37:44 AM
 #154

I see that many of you actually liked the concept of 20 % method wherein you allot 20% of your earnings to be saved as emergency fund.
So I was thinking, if that 20% allotted will be invested in a time deposit kind of account, will it still be possible to earn as much or invest it in cryptocurrency? Or maybe just let the money sleep until such time you will need it?
What will be a wise kove to do with the noney you have saved up?

just invest your extra money, do not use your funds for emergency, those kind of savings are intended for emergency only, we all know that investing in crypto is highly volatile and risky, it is recommended to invest only the amount you can afford to loose and definitely emergency funds are not included. investing in long term is different than saving money to sleep until such time you will need it, be wise.

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May 28, 2018, 05:50:23 AM
 #155

Stay on the limit when you are interested in investing. including in cryptocurrency. because there is a big risk when you've decided to invest here. do not lust with great results


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May 28, 2018, 06:04:18 AM
 #156

I see that many of you actually liked the concept of 20 % method wherein you allot 20% of your earnings to be saved as emergency fund.
So I was thinking, if that 20% allotted will be invested in a time deposit kind of account, will it still be possible to earn as much or invest it in cryptocurrency? Or maybe just let the money sleep until such time you will need it?
What will be a wise kove to do with the noney you have saved up?

just invest your extra money, do not use your funds for emergency, those kind of savings are intended for emergency only, we all know that investing in crypto is highly volatile and risky, it is recommended to invest only the amount you can afford to loose and definitely emergency funds are not included. investing in long term is different than saving money to sleep until such time you will need it, be wise.
I will try to buy my 20% savings money into dump coins and sell when the price go high.I want to take risk maybe i could gain profit and make my savings grow even a single centavo.

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May 28, 2018, 06:22:09 AM
 #157

You can put it in a bank or make an investment. Try to invest it on something that really help's you to increase your income. You can use it for business. Open a business if you can or if you want. But if you have business already i think just let it be safe. Because you can use it for your self or for your family if you already have.Just save it for a better life and for a better future. For me these are the two best things or options you can do to your savings. It's either put it in a bank or invest it.
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May 28, 2018, 06:32:56 AM
 #158

I would like to invest some of my savings in the crypto currency and bitcoin is good and profitable investment now a days if savings is good investment in the new ICO is also good.

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gabmen
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May 28, 2018, 06:57:02 AM
 #159

I see that many of you actually liked the concept of 20 % method wherein you allot 20% of your earnings to be saved as emergency fund.
So I was thinking, if that 20% allotted will be invested in a time deposit kind of account, will it still be possible to earn as much or invest it in cryptocurrency? Or maybe just let the money sleep until such time you will need it?
What will be a wise kove to do with the noney you have saved up?

just invest your extra money, do not use your funds for emergency, those kind of savings are intended for emergency only, we all know that investing in crypto is highly volatile and risky, it is recommended to invest only the amount you can afford to loose and definitely emergency funds are not included. investing in long term is different than saving money to sleep until such time you will need it, be wise.
I will try to buy my 20% savings money into dump coins and sell when the price go high.I want to take risk maybe i could gain profit and make my savings grow even a single centavo.

Well there's a reason why it's called emergency fund though. If you're left without much option, it's something you can dig into. Basically for emergency purposes. You can't do that if it's under time deposit in a bank. Or if it's undervalued because of a volatile investment. Personally i'd rather maintain a certain amount as savings by itself.

buternasek
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May 28, 2018, 07:09:36 AM
 #160

Saving money is totally different from investing money. You should save money and invest money you are ready to lose because investing money into something like in crypto is a big gamble. Luck and timing depends on whether you will gain big profits or lose bigtime.
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