Wise thing to do with your savings. - page 47.

Reid

hero member

Activity: 2912

Merit: 642

Quote from: ruslanat on June 19, 2018, 03:36:52 PM

In the western countries they make it a habit to save 10% of their personal income for their own future use, a millionaire once said, “I am glad I am worth at least 10% of what I earn”.

It is easy as long as you can discipline yourself. But that is not the issue. Where will you pile up those 10 percent if that is the number that you want. Will it be time deposit with banks or be invested with the crypto world?

Quote from: adigna on June 19, 2018, 03:43:44 PM

Set long time and short time goals in life and set a timeline to achieve that goal in time. Then carefully think about how you can achieve the goal and what you can do to go where you want to go.

Okay already set. So where will I put it?

My God. The talk about the question of the OP is already out. He want to know where he should put it. Advises will really help but this aint one.

Well for the OP if you will keep the 20 percent of your salary then go bank for 10 percent then maybe risk the other 10. Why? It will not grow in banks. 1 percent annual is not that large. You have granchildren and still you cannot get the number that you want to achieve. Make something out of the money. That is why investing in different field are made. So that you wont just rely on banks.

adigna

newbie

Activity: 2

Merit: 0

Set long time and short time goals in life and set a timeline to achieve that goal in time. Then carefully think about how you can achieve the goal and what you can do to go where you want to go.

ruslanat

newbie

Activity: 2

Merit: 0

In the western countries they make it a habit to save 10% of their personal income for their own future use, a millionaire once said, “I am glad I am worth at least 10% of what I earn”.

Rambogae

newbie

Activity: 50

Merit: 0

Quote from: Tukmol29 on June 14, 2018, 12:21:03 PM

Saving is one of the options available to a income earner. These savings can be left idle in banks yielding minimal returns, which is not the best. Investments in ICO is recommended.The higher the risk associated with a venture the higher the returns. leaving money in fixed deposits is not the best.

I think you should allocate another percentage of your earnings for crypto investment. Emergency funds should be easily accessible and always available to you in difficult times so you do not have to invest the money into something that can delay you from accessing it when something urgent needs funds.
When we talk about emergency funds, money should always be ready in times of emergency so you do not have to put it in a time deposit like your account so you have easy and quick access to your funds. I do not advise your emergency fund to be invested in a good crypto because its value is highly volatile and you do not want to compromise your emergency fund losing value over time.

sgenuine

full member

Activity: 854

Merit: 103

Quote from: kl8847 on June 14, 2018, 10:18:54 AM

I dont know whether it was wise, or dumb, but I took all of my savings from my wardrobe and put it into Waves...we would see in a near future what kind of a decision it was, because right now I have lost abount 20% in sell value

Waves is a very good platform but you should not invest all your money in one altcoin. Probably, you will take later a decision to change some Waves to TRON, NEO, and Cardano.

weblouartisan

full member

Activity: 448

Merit: 100

Lets Go Adab

Quote from: Pumapipa on May 25, 2018, 01:03:52 AM

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 with the money you saved up is to start your own business in order to have more income monthly, starting your own business will give you a stable income or you can also re invest to another coin that will be good for long term holding.

furkantugra

member

Activity: 280

Merit: 10

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

JRoa

full member

Activity: 528

Merit: 100

Quote from: Pumapipa on May 25, 2018, 01:03:52 AM

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 should know all of the risks that you will face if you will use your savings to make investment with cryptocurrencies. You should have enough background on the investment that you will do in order for you to not experience losses.

balamuda

member

Activity: 318

Merit: 10

Quote from: Pumapipa on May 25, 2018, 01:03:52 AM

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.

Lagrood

newbie

Activity: 728

Merit: 0

The crucial question is what the primary reasons and tasks does a person have? Let us suppose that a person does not want to take any risk then it is better for him to hold his savings in cash or on a bank deposit which do not have a risk at all (or almost at all).
In the other hand a person may have savings and he is able to take a little risk then it is better approach to have a look at shares and crypto coins and make an investment.

Acsirp

newbie

Activity: 126

Merit: 0

What to do with your savings is that make it into two ,the first half just save it for future use while the other invest it into crypto or bitcoin and try to manage it and let it grow, while the other half , reserve what ever happen to the invest half.

no0dlepunk

sr. member

Activity: 490

Merit: 258

The wisest thing to do with your savings is to acquire an asset that can be appreciated as time goes by. It doesn't matter how much it appreciates, as long as it does.

Dominic_King

newbie

Activity: 119

Merit: 0

I will put money on high-yield bank accounts. High-yield bank accounts are a type of savings account, complete with FDIC protection, which earns a higher interest rate than a standard savings account. The reason that it earns more money is that it usually requires a larger initial deposit, and the access to the account is limited. Many banks offer this account type to valued customers who already have other accounts with the bank. Online high-yield bank accounts are available, but I will need to set up transfers from another bank to deposit or withdraw funds from the online bank.

nikolas8667

newbie

Activity: 210

Merit: 0

It's a good idea to save money and invest the rest. Investing in another profitable platform is a good decision. Invest as you can and think to be better and wiser to make a profit!!!

Aidan Martin

newbie

Activity: 87

Merit: 0

I will invest in value-added things. Because If buying things that their value does not go up after the purchase, I'm not use of money in the smart way. Example: buy cars. After a period of time I used it, car immediately depreciate. So, I still want to own a car, I will follow the better way which I buy used cars. If the goods do not know the value increases, buying at the lowest price is the best way. Instead, I'm going to spend money investing in things that can add value, such as real estate, stocks ...

ArnoldChippy

hero member

Activity: 700

Merit: 500

Quote from: Yara1 on June 18, 2018, 08:31:56 AM

when you have saved a reasonable amount of money, the wise thing to do is to invest such money in any business that brings daily or regular returns. even if there is an emergency you can take care of it without any stress.

Investing all your money in business is not a good decision, i think we need to save some our our money for our future and daily expenses, because no one know about the future that what is going to happen to market, either you can make money in your business or even you can loss all your investment, therefore it is necessary to keep some of money in a safe place.

BLTC

jr. member

Activity: 150

Merit: 1

The best thing to do with your savings is to keep it safe. If it's an emergency fund, keep it with you or keep it in the bank. If it's something you can invest. Then invest it to something like insurance, so you will have better protection and it will gain further compare to banks. I don't suggest time deposit as it will just be killed by inflation. Please do not invest your savings in crypto if it's something you can't afford to lose, but if it is, with all means go ahead. Invest on projects that you believe in.

theblack_cat

full member

Activity: 406

Merit: 100

I want to have many money.
If i have money everything can buy and all of my dream can be really.

kalawang

full member

Activity: 350

Merit: 100

Quote from: Pumapipa on May 25, 2018, 01:03:52 AM

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 that you can do on your saving is to invest it again in investment so your money will work for you and you can just sit there and watch your money growth and it you will do if I support cryptocurrency not capitalism and other hand, the world at large money will suppose go in your account

ReiMomo

sr. member

Activity: 2366

Merit: 305

Duelbits - $100k Bonus/week

I save in a different method and as you said my savings emergency fund will be around 50%. I always have that savings in the form of Bitcoin since Bitcoin is very easy to exchange in any exchanges when there is a need or it can be transferred to anyone for emergency fiat requirement within friends and family circle. In this way my money grows and if there is a price difference in Bitcoin I will get at least 30% as emergency fund.

Topic: Wise thing to do with your savings. - page 47. (Read 8196 times)