Wise thing to do with your savings. - page 63.

jmigdlc99

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Quote from: Pumapipa on May 25, 2018, 12:03:52 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?

While pure saving (in the sense of locking money in a bank) is good, you should also diversification into other options aside from crypto. There are lots of funds and stock options out there. Mutual funds are even gaining much popularity and are known to give stable dividends. Remember that crypto is extremely volatile and while it may be greatly rewarding if you pick the right coins, it could also be greatly frustrating when you pick the wrong ones.

Diversify and invest wisely!

xetofficial

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I never put my money in the bank, and usually I invest most of them in different places. And it did help me getting more income. Of course, everything is not 100% guaranteed.

dukrat

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Cryptocurrency was the most profitable to invest money only by the results of 2016. The risks associated with the jumps of quotations of cryptocurrency very large, than for example precious metals, any resources or real estate. And before you invest your 20% it is worth to think carefully whether there is a prospect, because in the yard of 2018 to predict everything is quite difficult, everything can suddenly start to grow, as well as suddenly fall. It is impossible to predict the change of cryptocurrency course neither for long nor for short term.

Streamlink

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You have a good but not so good idea. No matter what, despite that savings don’t increase, you should still have savings cause it is very important. Investment is different, but savings is just like the home for everything you own. Just like you do during the day you go out to work to make money and by the end of the day you go back home to rest. That’s the same thing with investment and savings. Just take it like that, everything you put into investment and every profit you make at last will always go back to savings.

emulsifryer

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Quote from: Golftech on May 31, 2018, 09:54:44 AM

Quote from: anavir on May 31, 2018, 09:50:58 AM

for me saving means keeping money for tomorrow.So i divided my income into three.One is for savings,i am holding for a long term because it is intended for my retiring age.The other one is for our consumption,I have left money for buying our needs like foods and other commodities.And the last one is for emergency, i spare some cash that is convenience to use when emergency happens.Those are my ways in using my savings

Good point, it should be treated separately if you are going to invest those savings then it's fine for you as long as you still have money for emergency purposes then you can do everything with your savings, by the way if you look deeper from this forum then you will have some ideas where to place your money.

Well maybe he thinks about his future that's why he need to save more money than spending, because we cannot actually predict what will happen the next few days. Yes we can spend money but think about your earnings first before you spend if it's enough to regain your profits cause you can't find easily money for as long as you don't work hard on it.

pokeronlinestatus

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Quote from: Palodar on June 05, 2018, 06:34:25 PM

Quote from: Shutup on June 05, 2018, 06:01:30 PM

Quote from: Pumapipa on May 25, 2018, 12:03:52 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?

For me my savings l used it to invest in a business so that l have a stable job for the future of my kids. I have to secure the future of my kids because l don't know what will happen in the future. I'm really thankful for bitcoin because in many things it helps me provide the needs of my family.

Having your own business can really help, same with putting some savings in bank or make it grew in an investment. It will be good to diversify it in real investment and in crypto trading.

Having business is much better than investing somewhere no matter how large is your business because if I would be having my own business, I would feel much secure than I will be when I will invest my money in something. Putting my savings in bank would be better for me in my future because I will meet my daily life necessities with that money.

RDNX

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Quote from: Pumapipa on May 25, 2018, 12:03:52 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?

Personally, I would invest that into the safest type of investment.
I know, there is no perfect investment these days, But at least, don't throw your money to the investment which has a lot risk possibility.

kateycoin

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Quote from: Pumapipa on May 25, 2018, 12:03:52 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?

For me what I'm doing right now is invest my money in crypto and other investment like business then what profit i get I will save to my bank account. If you allow your money sleep doing nothing how your money grow and even you how can you survive in every day needs.

Yramesor0

newbie

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If experienced enough about cryptocurrency,then it is fine to put your savings into it.But make sure that when you need money during emergencies you can withdraw the money anytime.Anyway If market is green I'm pretty sure that you'll received money more than what you have expected compare to bank savings.

drachman

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Quote from: connexus on June 07, 2018, 06:08:28 AM

Well as for savings the wise thing to do with it is invest it in different forms first is in crypto currencies, stock investments, real estate, business capital etc. and of course still save some for emergency fund.

Investing is fine and that is something that you should do but the problem is that many people do not take anytime at all to learn something about the market in which they are investing so it is better to take things slow and avoid investing in so many markets in a short time frame, this is why many people are investing everything in cryptocurrencies because that is the only market they know.

supergorg27

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Probably before making decision to have investment in cryptocurrency coming from your savings you should think wisely and study very well to where your money to be putted on and make sure that your money for investment will not be lose.

belalangsembah

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the most important thing is you can benefit from your savings and you can take it for your needs but it would be better to take some for savings and it is up to you whether you want to keep in bank in deposit or save in crypto currency in investment

deejayce48

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A sports token that knows your favorite team

In my opinion, you shouldn't convert the 20% emergency fund to your investment. It should go separately. Because emergency fund is still important because it's for an unexpected event. 10% of your earnings for investment fund will do. Do not let all your money just sleep in the bank. Always look for an investment so that your money still grow over time.

gorbabtc

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If you have a family, you should save more than 20 5. Exact amount depends on a number of factors like number of children and your pension funds.

Tukmol29

newbie

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Absolutely! We should separate are 20% daily savings to reserved to a emergency needs in our family. And I think it is a big deal if it happened to a person because he is prepared of that situation, so I believed in that Idea is good to prevent some rushing yourself in something that you don't have in yourself. And if other think that it is not necessary to do maybe they are aware of it or something that believing in their plan.

Kawasakinamoto

newbie

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If you have savings better to divide it to investment, bank or business. Don't put all your eggs in 1 basket. If your money will be put in time deposit account, the moment you need your money incase of emergency, you cannot withdraw that amount. If you want to do that, I suggest to deposit that in a short period of time only, but don't expect high interest in the bank. You can invest also in cryptocurrencies, there is higher risk but have big possibilities to earn much. Some of your money give it to your church you are serving, as what the scripture says "each of you should give what you have decided in your heart to give, not reluctantly or under compulsion, for God loves a cheerful giver (2 Corinthians 9:7). If you do that for sure God will double or triple your blessings.

Clover_Faith

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Quote from: PsylockReborn on May 25, 2018, 01:10:13 AM

Quote from: Pumapipa on May 25, 2018, 12:03:52 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?

When we talk about emergency fund, the money should always be ready in times of emergency so you shouldn't put it in a time deposit kind of account for you to have easy and immediate access to your funds. I don't suggest for your emergency funds to be invested in crypto either since its value is very volatile and you don't want to compromise your emergency fund to lose its value over time. You should allocate another percentage of you income for you crypto investments. Emergency funds should be easy to access and always available for you in times of trouble so you shouldn't be investing that money into something that could delay you from accessing it when something urgent that needs funding.

Just try to place those funds in a secure place and make sure that your wife or partner knows how to access it as well.

For me, the wise to do with my saving is to save it to the bank so that i can get it immediately if some emergency happen. And i think saving to the bank is good way to save money..

BlackBeauty

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Quote from: Sir Paijoe on June 07, 2018, 05:40:53 PM

In the investment of course it takes wisdom, and as it happens today that bitcoin prices continue to decline then the wise thing that can be done is hold and wait for the right moment to sell.

Yes wise thing can save money and that's why they can make a lot of money for best lifestyle, so in this time holding of your money in bitcoin will very important because its going to high and those people will get a lot of profit who hold their money with full of patience and their future will also more secure for their family because they just think wisely.

Sir Paijoe

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In the investment of course it takes wisdom, and as it happens today that bitcoin prices continue to decline then the wise thing that can be done is hold and wait for the right moment to sell.

Betheng10

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Money won't multiply when its only hidden in the cabinet, even in banks. You see, if you're planning to do time deposit, you need a big amount of it to earn. You'll need 10 million to earn a million in 10 years.

That amount of time and money would give you more profit if you've invested it in other things.

Topic: Wise thing to do with your savings. - page 63. (Read 8220 times)