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Author Topic: Wise thing to do with your savings.  (Read 7659 times)
PalindromemordnilaP
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May 30, 2018, 05:34:04 AM
 #221

As to your savings that you have kept in your bank accounts for a long time, think of it if you already have a satisfying profit. If not, then it's best when you invest it in cryptocurrencies but you must have to be at least a risk taker before you are going to engage in crypto investment.

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May 30, 2018, 06:23:11 AM
 #222

If you put your savings to investment, then you surely see the difference, Previously a had small amount of saving in my pocket and I invest it in crypto's about 1 week pass, I see how crypto's work in my savings and I'm glad i earned good amount after bloody market strikes,  Smiley
It is no doubt not an easy thing to save your money and that it takes a lot of courage to do so. If you have managed to save your money, then you need to spend that money wisely so that you may not end up wasting that money. It is better not to use that money if there is no such kind of emergency and that you need to use those savings either for investment purpose or for the using it at the time of the need.

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May 30, 2018, 07:52:59 AM
 #223

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.
I think that you should invest only in reliable and authentic coins like bitcoin, Ethereum etc. because there are many scams in the market and when they have no funds they become scams and you will lose all your investment. Volatility is not a problem, the real problem is scam. Besides crypto investment is good for making more and more money in the future.
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May 30, 2018, 07:59:47 AM
 #224

I prefer the 30% concept of earnings. 20% I use for investment and the 10% I use for the reserve fund and I keep it in savings.
That was so awesome and if you are able to pull this, you would be safe whenever any kind of emergency appears. Savings are important for surviving in financial crisis. Moreover, a person who is not just saving his money but doing it in the form of bitcoin or bitcoin cash will be doubling his amount too. No doubt, it is a very beneficial and wise act but only few people are really capable of doing this.

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May 30, 2018, 08:01:06 AM
 #225

OP, note that not all savings should be channel into investment because we have different types of savings such as precautional and speculative savings and there is savings that is meant for investment.


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May 30, 2018, 08:26:06 AM
 #226

Normally, we make saving for the purpose of our future expenses. It can really give us many benefits not only for emergency but also in other unexpected things that will happen in the future. When we started to saved, its already a wise decision and thinking of the future is much more advantage.
If you invest your savings in something valuable that is the right and wise decision because saving you amount in banks will cut the annual cost and some banks are even cutting the monthly cost of your bank account and this way is not frictionless. You need to find a frictionless way for your investment and which make easy transactions for you which is the modern coin called the Bitcoin and some more are also in competition.

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May 30, 2018, 08:30:43 AM
 #227

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?
actually making money sleep (saving) is not the right choice, your money will not increase, it's just that you don't know when your sudden needs come...I prefer to invest into cryptocurrency, anytime if the sudden need comes we can still sell it.

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May 30, 2018, 09:16:05 AM
 #228

Never deposit an emergency fund in the form of deposit because you will incur losses if you have to take it before the specified period. I prefer the option to invest in this gold more guarantee and more durable.

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May 30, 2018, 09:17:39 AM
 #229

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.
better to use emergency fund in correct way.as it name " emergency " that used for urgent need.if we use it as invesment , while we need this money, to hard to liquidate.

Yes I agree with you, emergency funds from our savings are must be use for emergency happenings, for us to have something to get urgent, and bitcoin is a great help to increaseOur savings.

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May 30, 2018, 09:25:03 AM
 #230

For me the better thing to do with saving is to plan with this saving or make a strategy on where we should put our saving. On my situation what I am doing is that I am diving this with for emergency, for vacation and travel, for investments and for future expenses for family. We must have a guide on where we should put our money because if we will don’t have a guide surely this will all goes to vices. This is our saving that is why we should take a good care of it if we don’t want our hard work to fall in to the wrong places.   
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May 30, 2018, 09:56:37 AM
 #231

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.
You can buy a care with your savings and you can buy a flat with your savings if you savings are high while you can buy small products or daily life necessary products with your low savings but all these will be useless and if you are okay with your life works then do not waste your money. Invest this money in the crypto market and you will get benefit of it and especially in Bitcoin.

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May 30, 2018, 10:16:52 AM
 #232


It will be wrong to save to just have cash stocked somewhere but it will be a cause of wisdom to save for reinvestment purpose,currently i am working hard to save so that i can buy plots of land for animal husbandry which is my dream investment idea
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May 30, 2018, 10:37:16 AM
 #233

It is good to invest in Bitcoin or cryptocurrency but the emergency fund shouldn't be invested any where, we have percentage meant for investment. In some countries exchanging cryptocurrencies to fiat do take time and do not operate during weekends.
I think the wise thing you can do for your saving would be invested in profitable project and maybe you can also invest in bitcoin cryptocurrency. But ofcourse don't invest the whole saving. Keep something for emergency purpose and mucb better invest in health insurance. For family and kids you can also invest for kids educational plans.

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May 30, 2018, 10:46:57 AM
 #234

I actually have started to do that too, this sound good for me, but I was thinking about the case, if you will save money into crypto and crypto will die?

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May 30, 2018, 11:41:11 AM
 #235

In my past country I were people were gathering money on a special account and then happened the biggest scam in a history, lol.
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May 30, 2018, 02:25:50 PM
 #236

We have many different way of life some have needed more than other's, if ever I have a extra money to invest way not, but first I will a sure that I have something what ever happened.

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May 30, 2018, 02:47:00 PM
 #237

There are so many good things to do with your savings ,
Open a business or invest it to earn from it rather just leaving it alone.
But you shouldn't really put all of your savings in investment or in a business remember to save some so that you could get it in case you have some emergency .
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May 30, 2018, 02:52:36 PM
 #238

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 the wise things to do savings is by invest into crypto because aside from keeping your money safe you can still earn profit depending on the crypto market performance.
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May 30, 2018, 02:55:08 PM
 #239

I still believe in the 20% strategy because that is what working for me right now. I think 20% from the real job salary must go in the savings no matter what happens. Then another 40% must be kept aside to spend on family needs and then whatever is left like 40% can be invested in the crypto currency.

Now same thing can be done with the crypto currency profits also. I mean save up the 40% from the crypto because off course whatever we earn from them is always huge and thus putting rest back into he crypto will be profitable.
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May 30, 2018, 03:04:37 PM
 #240

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?
investing 20% of our salary to invest is a good thing. and I think investing 20% for long-term deposits of profits will not amount to investment in cryptofurrency. I prefer investing in cryptocurrency than in deposits. the advantage is more in cryptocurrency. but has a greater risk.

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