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Author Topic: Wise thing to do with your savings.  (Read 7659 times)
muravevat
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June 24, 2018, 04:33:34 AM
 #921

Attitude is very important in any major life changes that you might encounter. Thus set your attitude as if you are planning a vacation.
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Faxmate
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June 24, 2018, 08:15:07 PM
 #922

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?

As an emergency fund must be kept in the bank, because it is a fund for sudden needs. And I think allocating emergency funds for futures investments is not good, because it will make it difficult for you to take funds when you need them right away.


     Indeed, I too think that emergency funds should be accessible anytime we need it because emergencies are not called emergencies if we expect when they would happen - they are emergencies because they are unpredictable in anyway. This is why we need to have access to these funds when emergencies come.
It is in your benefit if you are looking at the market of cryptocurrency but let me tell you that it is not easy as handling fiat currency. It is different from fiat currency and if your desired place is that of Bitcoin then you should know that it is favorable for long term investment. Therefore invest in low market and wait for the price to jump will lead you into a high market.
Well holding fiat for long term is good for nothing so it is better to invest all your fiat into bitcoin, which is up rising investment of the era, we should buy more and more bitcoin with our money so it will increase more than double for us, so I think instead of using and wasting your money you should invest it into bitcoin it will give you huge profit and a lot of benefits for your future, make more and more assets of bitcoin to save for long term.

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phpartisanmaster
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June 24, 2018, 08:16:04 PM
 #923

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 start your own business in order to earn more income monthly then from there you can have something to use to sustain your daily needs.
Crystal24
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June 24, 2018, 09:23:28 PM
 #924

I prefer buying cryptocurrency than saving the money in the bank.
I'm aware of the many risk pose by cryptocurrency though. Its far better than saving in the bank that will pay you some miserable interest.


Osakrita
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June 24, 2018, 09:26:57 PM
 #925

One can decide to keep a portion of one's savings for future projects in crypto-currencies.only ensure you choose coins or tokens with good reputation.Also do not put everything  incrypto because  of the issues with higher risk and volatility.
samputin
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June 25, 2018, 12:20:49 AM
 #926

Since the bitcoin is volatile no assurance to earn profit in the date you want, the best way to secure our future with our profit to the cryptocurrency is to save some profit and build a business. In this way, the bitcoin you hold can't be traded in low price that usually causes of losing. Making another source of income is the best solution to avoid losing money because incase of emergency or unexpected matters you have money to be use.

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danceinthedunes
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June 25, 2018, 12:47:24 AM
 #927

Everybody should do their best to build up an emergency savings fund. The general rule is to have three months’ worth of living expenses saved up in an instant access savings account. This should include rent, food, school fees and any other essential outgoings. Your emergency fund means you have some financial security if something goes wrong.
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June 25, 2018, 02:20:03 AM
 #928

Some people cannot save if their life depended on it, no matter how hard they tried. Sometimes these people try to make it harder for themselves to use money. They might have a family member hold it for them for example.
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June 25, 2018, 02:52:26 AM
 #929

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?

If you have a mortgage, place the surplus funds into the offset account until you need it. This is a pretty effective way to earn interest on the money while also being tax effective.
eyesninja21
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June 25, 2018, 03:08:59 AM
 #930

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?

Time deposits are usually things like Certificates of Deposit. Buying and holding digital currency is extremely risky so be sure the service you are going to use is trustworthy. Yes, we should all be saving for emergencies, medical bills, home and car repairs, and other necessities, but there comes a time when you need to treat yourself to make your life worthwhile. Earning money as much is good and investing in cryptocurrency is the great things like investing in Bitcoin for your future makes you become wealth.

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June 25, 2018, 09:22:06 AM
 #931

Your money will start growing and so will your self-esteem and self-confidence and finally you are efficient and capable to finance your kids higher studies or retire peacefully with the recurring income from the timely savings.

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June 25, 2018, 09:34:29 AM
 #932

That is the benefits of having cryptocurrency compare to the other investment like the stocks because in just a few months you can get at least 10 to 20 times from your capital. There is not much of a point to have money laying around and not doing anything with it, the point of savings is to do something with them and if you do not do it you are wasting that money in a way since you are not taking the opportunity that you could take with that money
laimaro
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June 25, 2018, 09:38:24 AM
 #933

Before buying anything, think for some time and then if you feel it necessary then only make the purchase. Also try to avoid using credit cards as much as possible.
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June 25, 2018, 09:52:15 AM
 #934

Develop residual income. Residual income is what is known as passive or investment income. One could say that residual income is income that comes in every month based on work that was performed in the past or an investment that was made in the past.
bayan
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June 25, 2018, 09:53:52 AM
 #935

What people do not normally think of as residual income is interest income. Interest income is paid as long as money is on deposit or loaned to the entity that is paying interest.
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June 25, 2018, 10:11:18 AM
 #936

What types of residual income exist? The prime examples are royalty income, interest income, and investment income. Royalty income comes from copyrights, license agreements, oil and gas leases, etc.
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June 25, 2018, 10:53:44 AM
 #937

I don't think I can in my own perspective subscribe to the fact that my 20% set aside for emergency fund which I can equally referred to as Contingent fund should be wholly or partly invested on any coins or stocks which may be vulnerable to further risk of loosing them out where the main objective of reserving such funds is now miserable to its non objectivity which however subjected you to regret.
Contingency funds are meant to sustain you at the eleventh hour when one is in total failure/ business collapse or an inevitable calamity. Hence such funds could either be saved on special deposit or perhaps purchase fixed assets like estate and landed property, that are easily transferable when there immediate needs arises, my opinion.

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June 25, 2018, 11:43:17 AM
 #938

Make a budget and stick to it. People ignoring this advice start pending all their savings on things like electronic gadgets.

The result is that they start buying luxuries on installments which later become a headache. Later when these people are not able to pay back the amount, they get in debt. Self control is the best option to fight against this.
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June 25, 2018, 11:57:14 AM
 #939

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 for you that you can do to your savings is do a actual bisiness such as cafe, restaurant, boutique, and etc. In that way you can also earn and it is possible that your savings will be much bigger. In that strategy you can also gain profit that can really help you to earn a lot for your future.

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June 25, 2018, 11:58:39 AM
 #940

well as long as we do not need it and as long as our needs are still sufficient for what we take the saving, besides that we also need a profit so definitely waiting for the right day.

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