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Author Topic: Wise thing to do with your savings.  (Read 7668 times)
dekafee79
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June 16, 2018, 08:33:29 AM
 #761

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?

In my opinion, Emergency Funds do not have to be deposited in a time deposit account. A time deposit account has a special time before you can withdraw it and you never know when you need it. It is also unwise to invest an emergency fund because you are doing away with the primary purpose of the savings.
You should keep it in the bank for emergency needs.
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jaysabi
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June 16, 2018, 03:38:55 PM
 #762

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?

In my opinion, Emergency Funds do not have to be deposited in a time deposit account. A time deposit account has a special time before you can withdraw it and you never know when you need it. It is also unwise to invest an emergency fund because you are doing away with the primary purpose of the savings.
You should keep it in the bank for emergency needs.

Time deposit accounts don't prevent you from withdrawing you funds, they just penalize you for doing so early by forfeiting the interest you would have earned over a certain period of time.  If you have a 24 month CD and withdraw early, the penalty may be 6 months interest.  Because a CD likely offers high interest rates than a normal savings account, you're probably better off with the time deposit account even if you withdraw early because you're likely to make more interest in 18 months of a CD than 24 months of a savings account. And the likelihood of having to withdraw early is probably low, so there's far more upside than downside to choosing a time deposit account.
BLTC
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June 16, 2018, 04:35:18 PM
 #763

For me, if it is an emergency fund it should be very liquid, meaning it can be encash anytime and the value is still the same. Emergency fund cannot be put into investment, because investment may lose value. It should be a separate venture. Emergency fund is separate and Investment fund is separate. That's the wise thing to do.

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zuevain
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June 16, 2018, 04:58:59 PM
 #764

If you eat regularly in restaurants, you might have to spend considerable portion of your monthly budget on theses visits. A better approach is to eat at hawker stalls or food courts.
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June 16, 2018, 05:04:48 PM
 #765

To me I think you should always get an emergency fund. Also, you shouldn't spend all your savings, but you should invest some and yeah!, investing in cryptocurrencies is a good choice

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rose8963
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June 16, 2018, 05:18:12 PM
 #766

For now wised things to do with my savings is still keep in one place, to prepare in next year or in future. Because no one knows what will happen in next days. So be wised to used your money especially your savings. Or you can invest a house so that all your family will intact in one place. I don't think that the emergency fund should consist the investments in crypto currencies, because it is very risky. Such kind of funds are mostly needed when the turbulence occurs in the real world
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June 16, 2018, 05:18:20 PM
 #767

It is very important to save something against rainy day, no one know what can happen with us in future so it is good to save something for our bad days of life, investing your money is best choice for us to save our money for our future. Saving of the moneyis the game of your brain and that the way you make yourself understand the importance of saving of the money. I don’t think so that saving of the money is something not possible to do but for that you need to be very much careful while spending anything
110910ktx
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June 16, 2018, 05:18:28 PM
 #768

I really want to know why it is risky to spend money in crypto currencies. As far as someone has bought a potential coin that is cherished by majority of investors, his money is not at stake. For instance, bitcoin is something that cannot be doubted now. It has made people millionaire. Savings have to be invested in an asset which gives you good future return and of course have good stable prices. You can also invest in bonds and there are many types of bonds that give you different profit ratio
sulendra12
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June 16, 2018, 05:24:31 PM
 #769

To me I think you should always get an emergency fund. Also, you shouldn't spend all your savings, but you should invest some and yeah!, investing in cryptocurrencies is a good choice
Yes, everyone should think about this. No matter how much your savings are, but if you don't have a backup/emergency fund to backup your financial when something bad happened. It is not a wise choice to not have this kind of thing, this is a mandatory stuff to have.

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crazyavdik
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June 16, 2018, 05:45:29 PM
 #770

To make the future a better course we must be saving and investing, but unfortunately most people just focus on saving and do not want to take risks to investing so that when the crisis then their financial drop drastically.
ashame
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June 16, 2018, 06:21:32 PM
 #771

For me the wise thing to do with your saving, or my saving, is part it into half , the first half you set aside for reservation in your savings , banks ,vault  or any , the other part is to invest in crypto or bitcoin, manage your investment carefully and make cautions about your investment, ovserve what is the status of your investments, if it is in the good run or losing, at least you have half of your savings been set aside whatever happem to your investment.

Todays market is in falling stage, The best thing to do in your savings here in crypto is to keep it and wait until its value will rise, also , investing in some profitable and legit ICO would do.
crazymelons12
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June 16, 2018, 07:09:51 PM
 #772

For me I do consider your ideas very much acceptable. If I am to lock my money for a long a time without much interest I would rather do trade it for cryptocurrencies. Though there are possibilities for losing it but I know If I can hold it long, It could multiply in value. Just know when to buy and you are set to earn money.
Gameroid
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June 16, 2018, 11:16:19 PM
 #773

For me I do consider your ideas very much acceptable. If I am to lock my money for a long a time without much interest I would rather do trade it for cryptocurrencies. Though there are possibilities for losing it but I know If I can hold it long, It could multiply in value. Just know when to buy and you are set to earn money.
Yes profit and lost is always there in trading , but it is also depending on your, if you have good planning and strategies, and if you also have good experience and trading skill, then you can at least minimize the chances of losing your money in trading. So if a person want to become successful in trading he need to get some experience first.
Remedios19
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June 16, 2018, 11:36:51 PM
 #774

Wise thing for you to do is to invest your savings for you to grow.
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June 16, 2018, 11:42:11 PM
 #775

Wise thing for you to do is to invest your savings for you to grow.

Yes, investments will really give us good profit in return if investment will be done correctly. Because not all investments are safe and really needs to study first.

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Eclipse26
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June 16, 2018, 11:55:51 PM
 #776

For me I do consider your ideas very much acceptable. If I am to lock my money for a long a time without much interest I would rather do trade it for cryptocurrencies. Though there are possibilities for losing it but I know If I can hold it long, It could multiply in value. Just know when to buy and you are set to earn money.
What im going to do with my savings was divide it into different parts, like saving, emergency, investing and others. Im still going to invest some of it get more profit. I will also start a business to have another income. I will also keep excess of it dor the savings and preparation for my future and kids.
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June 17, 2018, 12:20:10 AM
 #777

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 should not sleep. It is better if we invest them. It is wise to make them double or triple instead of just making it as it is as the time when it will be used.
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June 17, 2018, 12:27:16 AM
 #778

For me, I put about half year's paycheck as emergency fund. Then the rest I am doing some investment. Some is in stock, some in crypto currency. And I tried to diversify my investment to reduce risk.

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June 17, 2018, 01:06:38 AM
 #779

if it is me, I will keep the money in savings that I can take whenever I need and the money I need to invest must be true money ready to lose because in the world of commerce no one knows whether we will profit or loss so if money emergency which I use I think it is wrong
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June 17, 2018, 01:50:33 AM
 #780

I think the wise to do with your saving is make a bracket that separated by your saving and your investment. Example : separated profit in investing ico , holding profit, and withdrawing profit. Its inly example but thats my bracket chart
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