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Author Topic: Wise thing to do with your savings.  (Read 7764 times)
Bitcoincole
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May 26, 2018, 12:43:43 PM
 #61

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?
Why not investing the saved money into cryptos? There is a bunch of prospective projects with tokens being traded for like x2-3-4 from their original price.
And it's a good time to invest in the most popular coins like btc, eth or dash because the market is in its dump.



For me it is really important to have savings especially for emergency purposes but it is wise also to invest in something profitable like crypto. You can always balance your savings to something that will benecit in the future ensuring that you still have funds in cases of emergency.
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May 26, 2018, 12:56:08 PM
 #62

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 dont believe in letting the money sleep or just left untouched in bank accounts or vaults, the value of money is gradually decreasing, as I see it, the value of money is losing its original price as time pass by, so I would prefer making my money grow instead of just simply saving it in banks.

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May 26, 2018, 01:19:58 PM
 #63

I think the best thing to do with our saving is put some part of it in the banks. And if you want put a business so that you can see your saving grow. If you do the right business.

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May 26, 2018, 01:22:58 PM
 #64

for me, having savings is the main thing we need to do because savings can be used in anything when we need it.
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May 26, 2018, 01:42:02 PM
 #65

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?

My suggestion is to do the pyramid of savings where in you need to do the based up to the top of the pyramid. Here’s the simple representation of the pyramid:

                          Stock Market/Cryptocurrency
                                  Mutual Fund/UIFT
                           Time deposit/Bank savings
                                    VUL/Insurance
                                   Emergency Fund

You can interchange the mode of savings from third to top but for emergency and insurance those two should be strictly in the based area. The 20% savings should be in that order.

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May 26, 2018, 02:20:27 PM
 #66

If you have enough saving you can invest it in an investment company, maybe some would possible to try to get a life insurance with interest.
With this, your saving for an emergency fund is can be your savings as for your future.
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May 26, 2018, 03:02:05 PM
 #67

For me, it is unfortunate that this year is very bad on cryptocurrencies and especially Bitcoin. Plus, there have been many crises and so far still exist, so IMO the best thing to do is Holding and investing in a long term. And you can be wise in the field of trading when you have a good knowledge of all situations and long term experience is very essential and even if there are some obstacles (financial losses) .

On the other hand, I expect that this drop will continue (maybe will last for a month or more), So I thing the best choice in this period is to HODL 80% of your financial budget especially in the best digital currencies on the market like, Bitcoin, Ethereum, Ripple, Cardano.. and after that, you just must see what will happen in the near future, and the other 20% to buy some coins who have weak price and an acceptable value of market cap (like, Tron).
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May 26, 2018, 03:20:44 PM
 #68

For me wise thing is to turn your free money not into entertaiment, but to actives, which can work and be profitable

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May 26, 2018, 03:31:23 PM
 #69

The wise thing to do with your savings would be to invest it in something that gives you a profit out of that investment you give which is basically the essence of investment. It would be bad to stack your money in your own wallet or vault. It would be good to put it in somewhere where it would eventually grow maybe after a year of being invested or even months. For people who likes to risk, cryptocurrencies are good for you. And for people who do no want much risk, you should invest in companies or banks that has established good reputation in the society.

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May 26, 2018, 03:32:41 PM
 #70

Why not investing the saved money into cryptos? There is a bunch of prospective projects with tokens being traded for like x2-3-4 from their original price.
And it's a good time to invest in the most popular coins like btc, eth or dash because the market is in its dump.
The first rule of investment is not to invest everything back, you need to put your savings you made in your local currency and when you see a sure shot project you could invest in those but i would think twice before using my savings because you never know how the market will react in the short term, if there is a major correction i would definitely invest in bitcoin and other top coins, i do not see these small time bumps as correction, if the price of bitcoin reaches below $7k then i will invest my savings.



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sepeda karat
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May 26, 2018, 03:41:11 PM
 #71

I think it's best to have a nest egg worth three months of your salary, this will be used when you lose your job. Next is getting insurance, growing up and maturing it is good for you.
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May 26, 2018, 04:48:28 PM
 #72

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 its better to invest it in cryptocurrency rather than putting it on a time deposit. To be honest, I hate banks but I don't have no choice since I can't get any fiat money but thru banks only (disregard remittances). It will be more risky than putting your money in a time deposit but it will give you higher profit than letting your money sleep on your bank account. Just make sure that if you are investing it, you must put it in a long term coin.

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May 26, 2018, 04:51:39 PM
 #73

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?

The best thing to do is just always save money either it was cryptocurrency or fiat because we never knew if bitcoins will still be existing in the future or not so you should always have something for your self.

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May 26, 2018, 05:10:07 PM
 #74

It would be better if your money is invested rather than left alone. and if you're good at business maybe it's better, it all depends on yourself. if you are lazy to try to do business my advice is better invested.
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May 26, 2018, 05:11:03 PM
 #75

The good thing to do with your saving is to invest it or open a business,
I think it is the best thing to do so you could earn from your saving .



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eaLiTy
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May 26, 2018, 05:49:48 PM
 #76

I think it's best to have a nest egg worth three months of your salary, this will be used when you lose your job. Next is getting insurance, growing up and maturing it is good for you.
If you are looking for profit never invest in any insurance schemes as it is not at all profitable as an investment, there are other good investments in the market apart from that, when it comes to savings made in this market, i have already converted my initial capital along with profits a long time ago and the rest of the money in the market is being rolled into different coins and projects and i am keeping those for the long term, yet i have a couple of thousand dollars worth of coins used in the short term when ever i am free to ride the market.

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May 26, 2018, 06:08:05 PM
 #77

The good thing to do with your saving is to invest it or open a business,
I think it is the best thing to do so you could earn from your saving .
What I am usually doing is that I am saving first then just spreading the remaining to my expenses, I am not exceeding my expenses to what is only within the budget unless it is for emergency or for the school needs. As much as possible I want to save in fiat and in bitcoin and Eth.
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May 26, 2018, 06:09:36 PM
 #78

For me you can save money by self discipline. It is the most effective strategy to apply.  Look if you have self discipline with you you can cast out the beer in the table, expensive foods in the restaurant, travel without any good purpose, give to others without the proper way to budget the money. Without discipline everything that yours will be not yours if your attitude is not good. Save money as long as you can and while money is there looking at you. Also treat yourself sometimes if you wants to reward yourself by doing so.
Bosonnary
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May 26, 2018, 06:12:38 PM
 #79

It is good to accumulate money, but do not forget to spend it sometimes, because why do you need money if you do not spend it.
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May 26, 2018, 06:49:14 PM
 #80

In my experience, I use my savings as "emergency funds" where if only I have no choice and then there is something important to buy like necessities in home or I have to go to the grocery, I have no choice but to use my emergency fund but there is also an alloted money that is only for savings because I have a goal each year that I have to travel to another city from our country to explore and be a tourist.
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