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Author Topic: Wise thing to do with your savings.  (Read 6447 times)
Hasbro27
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August 11, 2018, 03:18:48 PM
 #1481

setting aside 20% of income for emergency funds, I better save in savings or time deposits, because for me the investment funds and emergency funds are different, emergency funds are better kept so that if needed at any time can be used, too risky if the emergency funds are used to innovate in crypto

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Kanda Yu
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August 11, 2018, 03:28:05 PM
 #1482

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?
Your strategy is quite good already wherein you will allot 20% for investment and another 20% for savings account. You should not go all in when it comes to your savings knowing that its purpose is to save you from any possible financial struggle. Letting few of your savings go and hoping it would grow is a great thing for you to gain more profit while you still have a saving.

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August 11, 2018, 03:57:30 PM
 #1483

setting aside 20% of income for emergency funds, I better save in savings or time deposits, because for me the investment funds and emergency funds are different, emergency funds are better kept so that if needed at any time can be used, too risky if the emergency funds are used to innovate in crypto
dont ever use emergency fund to invest in cryptocurrency.although its very liquid, but we should understand market in unstable and  high volatility.if someday we need our money , but it still floating in market what should we do.


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Jrfranco
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August 11, 2018, 05:01:02 PM
 #1484

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 savings has a lot of layer , like save some for emergency fund, save some for  investment
emrgency funds should not be invested  it should be available anytime thats why its called an emergency fund because it would be use in unexpected situation or event that needed financial support.
zabizana
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August 11, 2018, 05:08:37 PM
 #1485

When I was in elementary school, I was introduced to a saying that reads: "Saving is the rich base"

But, I think, that saying is not entirely correct, I even think that the saying seems to be no longer valid, because, I think, if you only save money, the money will be eroded because you cannot withstand the rate of inflation. therefore, I think investing will be wiser than saving or just letting your money sleep.
BitRentXx
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August 11, 2018, 05:13:58 PM
 #1486

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?
managing finances is more difficult than getting money, everyone can make money but only a few are successful in managing their finances.

and I think it's true, in managing the financed finances you must be able to hold back.
Labay
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August 11, 2018, 05:17:43 PM
 #1487

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?

It is depend on your knowledge and hands of holdings because if you need money then the price was too cheap, it is too dangerous than your money that are sleep.  I think it is good to circulate your money through bitcoin if you have friend that you can borrow some money when you need some help at the time of emergency.  It is good that your money can get some profit because time is gold.

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bizalaz
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August 11, 2018, 05:21:21 PM
 #1488

The best and wise thing to do is save your bitcoins and altcoins until you get a huge profits and benefits on it. If you already need it very much then go sell for it but if you don't need it then hold and wait until the right time comes so you will gain a lot of money for it. If you do this then you are right because this is the only way to do with your savings.
thevlox
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August 11, 2018, 07:04:21 PM
 #1489

You are earning a lot of money in cryptocurrency. If we allocate 20%, then we can save 20% and we can help in funding.

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Chapman.S
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August 12, 2018, 12:04:25 PM
 #1490

The best and wise thing to do is save your bitcoins and altcoins until you get a huge profits and benefits on it. If you already need it very much then go sell for it but if you don't need it then hold and wait until the right time comes so you will gain a lot of money for it. If you do this then you are right because this is the only way to do with your savings.
I hope that you're right. How can you be so sure about it though? I don't think it's wise to go around giving people this advice. What if you're wrong? I hope Bitcoin with keep growing. I think it will. I think a lot of altcoins will keep growing too. There's no guarantee of this though. I'm sure that many altcoins will fail. How can you account for that? What if this guy has his money in altcoins that will fail? It wouldn't be to smart to HODL then would it?
Diablesfunis
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August 12, 2018, 12:14:21 PM
 #1491

In my opinion you should leave your savings at it is for emergency funds and if you have some money left after saving then you can use it for investment purposes. I always do that every month so if my investment fail then I still have my savings. People shouldn't use their saving for investment especially if they think there's no emergency, It's fine to leave your money as it is because when there's emergency you can use it asap.

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acreed
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August 12, 2018, 12:16:55 PM
 #1492

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 it's good to use 10% of your savings money or more for investment, don't use all your money. But make sure learn market condition before do investment.

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lyngirl87
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August 12, 2018, 12:26:15 PM
 #1493

For me, The best thing to do with our savings is invest to bitcoin and serve this investment as a retirement investment. We can gain more profit in investing bitcoin in the long run. Therefore, this is the best thing to do for your savings.
Fatanut
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August 12, 2018, 02:24:18 PM
 #1494

There really is no point in just saving money just to save money. Put some money for emergency fund and put money enough for you to survive 3 months of zero income then start risking your money. Of course it would be stupid to just risk the money without knowledge about business and economy. The better you know, the more chance for you actually doing good in the business world.

If you do have a lot of money, perhaps you can give your job less time or just have a part time job then start focusing on learning business. Why? Because business people are the only people that don't have to work for someone but themselves. They don't need jobs, they offer people jobs, and it's the only way for you to become rich even when you don't do much.
everythingforsale
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August 12, 2018, 08:44:22 PM
 #1495

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?
Seems like the best thing and wisest would one that you can do with your savings would be to make them working and bringing you the prophet so you would be able to recover your saving amount and earn more.
Cobrak777
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August 12, 2018, 09:57:03 PM
 #1496

Put your money in invesment, that is the wise thing to do right now, its better if you invest your money in bitcoin. Dont be nervous about the condition of pricing of btc in the market, i swear to you it will recover. Another idea is use your money to build business, thats great too, if youre excellent entrepreneur your business will succeed.
WhaleHunter
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August 12, 2018, 10:08:27 PM
 #1497

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?

You could (and probably should) put it into some form of a safer investment. There are a lot of stock options out on the market that allow for pretty continual growth albeit very slow. This would be better than just leaving your money in a risky investment or just letting it sit under a mattress somewhere because at least you collect some interest. As you keep making money, you'll end up with more in that emergency fund until it becomes something that you can actually work with in a few years/decades.

Are there safe Investments? In 2008 a huge percentage of all my savings has been wiped out. Some of the most "reliable" European banks had lost my money after pretending to have invested it in the safest possible way.

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Kokoy
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August 12, 2018, 11:48:55 PM
 #1498

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?

Thats true and I think this is very effective especially when there would be a times that you will be having financial unstability savings will save you. This is one of my greatest regrets I dont saved some part of my money when I have some then this months occur where. In I dont have even a single cent thankfully I am with my parents someone is going to fed me for me to survive and I promised to give it back whenever I get money.

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August 13, 2018, 12:08:45 AM
 #1499

Emergency is emergency and it means it should be available at any time. If you invest it in crypto and the value falls as at the time you need it, it will be a disaster. It may sound logically perfect from business perspective but planning is very key in life.

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August 13, 2018, 01:56:04 AM
 #1500

Develop a  a residual income like affiliate program. In an affiliate program, a person helps create sales of another person's product.
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