Topic: Wise thing to do with your savings. - page 50. (Read 8196 times)
I have a strategy for financial savings. I will save 30 percent of my income to buy coins or investments in crypto. and 70 percent to meet living costs. 30 percent of the investment, I share in various coins so it will have a bigger chance of getting faster results.
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?
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 always taught about my savings and that I want to turn it into investment. I'd love to invest in cars, properties and land. This things can be my business that I can inherit with my children someday. So I think this can be a good thing to do with someone's savings.
I think the concept you gave is very useful. Given the emergency money is very important and also must exist when in need. So I will try to save some of my money to use as emergency money.
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?
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 wise thing or the most advisble way is to keep your goal on your head , and be wise although wise isnt enough be more you know save it , dont waste it on some useless thing that only for a day , buy that long last forever.
Dont count your earn , better to hold or invest it.
I will divide this amount of my savings become different investment channels and different ratios. Because I am less risk-taking, the expected profit is moderately stable, I will choose to send 1 part into savings, 1 part into buying dollars, 1 part into buying gold.
For many putting a good part of crypto profits into fiat would be a helpful advice because anything may happen with crypto in future, and if everything crashes they will be a few survived.
if you asking about the wise thing to do with your saving, the absolute answer is to use it as you want at first, and for the next thing is to search for good investment to yourself. Investment could help you in many things in the future. Be sure not to wasting your saving in some useless investment.
You should not just do investment because you also need a security for your health and it is not always about making money or becoming rich, it is about having a security that you will have any problem when there is an unexpected thing. You should do investment and also establish security which my mentor told me so i can get the freedom that i want. 
if you asking about the wise thing to do with your saving, the absolute answer is to use it as you want at first, and for the next thing is to search for good investment to yourself. Investment could help you in many things in the future. Be sure not to wasting your saving in some useless investment.
For me some of my saving is I put in the bank for some emergency fund and for our daily needs, and the other is I will invest in some investment.
I don't think it's a wise decision to use your emergency funds and put it on time deposit because the fact that you cannot get it out if the need arises in a short period of time, as far as i know time deposit takes about a year or more to take it out and make profit.
You have other option to time deposit maybe the lower months you can choose is 3 months or 6 month depends to the bank where you invest your money. Emergency funds may put to ATM or to the passbook so incase you need money you can get it anytime you want. Because in the time deposit once you invest and you need money and the right tine that given to get back your money I think you cannot get it.
The youth today believes on principles like life is too short and thus does not understand the importance of savings or limiting the expenses. One should just keep some for emergencies.
Lots fo really good ideas and discussion here. I believe its good to have a diversified portfolio. Different levels of risk and of course rewards too. I keep some in the bank and get small amount of interest each month. I invest some in crypto and stock. I also buy and trade other things too. I know money is very hard to get, so I try to maintain and if possible build my wealth
I don't think it's a wise decision to use your emergency funds and put it on time deposit because the fact that you cannot get it out if the need arises in a short period of time, as far as i know time deposit takes about a year or more to take it out and make profit.
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?
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 agree. To add on it, what I highly suggest is to have a "Forgot Money". What I mean is to create a bank account and put a certain amount that could save you enough for 1 month then leave it alone. Do not think about it. So when the time money is needed, you have something to rely on, on top of the emergency fund.
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.
That is a good plan so you will not get in debt when there is an emergency because you have the fund that will back you up and you don't need to worry. I think for a better situation, you should divide those half of your year's paycheck so you can expand them into having an insurance and also other type of investment for yourself and family. 
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
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
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.
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. 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?
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. Jump to: