Wise thing to do with your savings. - page 76.

mary0919

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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?

That is already a good idea. Yes I will get 20% of my earnings to be saved as emergency fund because it is very important to have savings especially that we have children. I will also get another 20% for my children save fund for there education and the 60% is for our daily needs. Sometimes I can get money for our savings in times of shortage in budget but I will fill it up whenever I have extra income.

andrei56

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Quote from: Zekemporium on May 30, 2018, 10:55:08 AM

I still believe in the 20% strategy because that is what working for me right now. I think 20% from the real job salary must go in the savings no matter what happens. Then another 40% must be kept aside to spend on family needs and then whatever is left like 40% can be invested in the crypto currency.

Now same thing can be done with the crypto currency profits also. I mean save up the 40% from the crypto because off course whatever we earn from them is always huge and thus putting rest back into he crypto will be profitable.

That is not a bad strategy but in order to perform a strategy like that you need incredible discipline not only from you but from your family, you must understand that most families around the worldare living paycheck to paycheck and they do not even save 10% of their money but you want them to save 20% and that an additional 40% is used to invest in cryptocurrencies and that is not going to happen.

Nanashev

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One of the most popular pieces of financial advice is to build an emergency fund. This is a fund that you tap only in the case of dire, unplanned events - the types of situations that would otherwise force you to go into credit card debt as a last resort. It is therefore advisable not to invest your emergency funds since unforeseen circumstances can pop in anytime.While you hope for the best, sometimes unfortunate events happen that you can't predict.
You and your spouse might both lose your jobs at the same time. You may have a major medical catastrophe, and your insurance refuses to pay the bill.
Reserve your emergency fund for these kinds of once-in-a-lifetime catastrophes.

RasicaOla12

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if you have the prefix to be prefix to be enter the top into another fields like any purchase or the bitcoin or they can buy the other coins
Wise thing to do with your savings

patarfweefwee

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It's always smart to invest your money and not let it sleep in a bank. What i will trust my bank with is a nest egg of sorts where you get your money on emergencies. Other than that, i would invest it and makenit grow. Keeping you money in a bank won't work for you at all. Might as well make it into a source of passive income.

NewRanger

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Quote from: ivandu on May 30, 2018, 08:56:55 PM

Quote from: mig5000 on May 30, 2018, 07:29:23 PM

I have already invested a lot of money on bitcoin on the past and i am not going to keep doing that anymore. The only thing that i might do, is just to invest in new ICOs to increase my entire budget, but nothing more than that.

that's wrong way i think.as we can see that many ico's that broke sec rules and finally they became die project.and we now that much scam ico right now.buying bitcoin in dip better for my opinion.

that's true dude.we can see some ico projects as example.that stopped in the middle developtmen because they break sec rules.newest one is titanium blochchain that under sec investigation now.better to put in market with project that had run their roadmap

joelou

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Wise thing to do with your saving is to invest something easy way of making money just invest some ico or buying coins thats only my opinion.

vasrasus

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Bcnex - The Ultimate Blockchain Trading Platform

Quote from: Papcio77 on May 30, 2018, 10:20:47 PM

Dont make your funds sleeping and be use if needed. Here in crypto more activity will be more reward. I advice you to use your profit then reinvest in a great high potential coin or altcoin. Why you do keep some profit, better to use all for trade or investment so after all it turn much manier. Do it with passion not prediction

Knowing many stuffs to allocate our savings is a good deal, just make sure that you really know what we're doing. putting some in legit investments as well doing trading will make you gain more profit. And as much as possible have some business too in the physical world to have circulating earnings visible.

Papcio77

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Dont make your funds sleeping and be use if needed. Here in crypto more activity will be more reward. I advice you to use your profit then reinvest in a great high potential coin or altcoin. Why you do keep some profit, better to use all for trade or investment so after all it turn much manier. Do it with passion not prediction

julzcoinbit

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Quote from: ivandu on May 30, 2018, 08:56:55 PM

Quote from: mig5000 on May 30, 2018, 07:29:23 PM

I have already invested a lot of money on bitcoin on the past and i am not going to keep doing that anymore. The only thing that i might do, is just to invest in new ICOs to increase my entire budget, but nothing more than that.

that's wrong way i think.as we can see that many ico's that broke sec rules and finally they became die project.and we now that much scam ico right now.buying bitcoin in dip better for my opinion.

If he really carefully choosing a right ICO to Invest then, there's no worng with his decision, unless If doesn't had an experience In trading and don't enough In cryptos, so It should be wrong. But about the topic, we should not touch or Invest our emergency funds, coz this Is very Important Incase of some unnecessary happen accident or disaster suddenly appear In our life.

ivandu

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Quote from: mig5000 on May 30, 2018, 07:29:23 PM

I have already invested a lot of money on bitcoin on the past and i am not going to keep doing that anymore. The only thing that i might do, is just to invest in new ICOs to increase my entire budget, but nothing more than that.

that's wrong way i think.as we can see that many ico's that broke sec rules and finally they became die project.and we now that much scam ico right now.buying bitcoin in dip better for my opinion.

Destnhel

newbie

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The wise thing to do in your savings is to put it into business in that way your money will give you more and more profit than to put it in the banks who give small interest. You can also try investing in crypto.

mig5000

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I have already invested a lot of money on bitcoin on the past and i am not going to keep doing that anymore. The only thing that i might do, is just to invest in new ICOs to increase my entire budget, but nothing more than that.

bib24

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I will keep some for my emergency fund and the rest I will invest, this way my money is not stagnant and might bring good profit.

ModGirl

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Quote from: goodfortune2018 on May 30, 2018, 10:52:36 AM

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?

I think the wise things to do savings is by invest into crypto because aside from keeping your money safe you can still earn profit depending on the crypto market performance.

normally we make saving for the purpose of our future expenses it can give us so many benefits not only in case of emergency buy any time when we need it, as it is very important to save something for our future bad days and I am sure nothing can be better than bitcoin investment in this regard, I think for this we should limit our useless expenses and save money for investing in bitcoin so it will grow and will remain safe for our future bad days.

Kevondo

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Quote from: gabmen on May 28, 2018, 02:57:02 AM

Quote from: Elai101 on May 28, 2018, 02:04:18 AM

Quote from: gambitcoin53 on May 28, 2018, 01:37:44 AM

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?

just invest your extra money, do not use your funds for emergency, those kind of savings are intended for emergency only, we all know that investing in crypto is highly volatile and risky, it is recommended to invest only the amount you can afford to loose and definitely emergency funds are not included. investing in long term is different than saving money to sleep until such time you will need it, be wise.

I will try to buy my 20% savings money into dump coins and sell when the price go high.I want to take risk maybe i could gain profit and make my savings grow even a single centavo.

Well there's a reason why it's called emergency fund though. If you're left without much option, it's something you can dig into. Basically for emergency purposes. You can't do that if it's under time deposit in a bank. Or if it's undervalued because of a volatile investment. Personally i'd rather maintain a certain amount as savings by itself.

Well it is always sagacious to keep some money on a side from monthly budget for emergency situations. Sometimes there are problems that were not even in your wild dreams and you need to cope with them both facially and emotionally. Even if you are not inflicted by anything dreadful, keeping money in banks or in your lockers is a good plan because later in life, it helps you in many ways.

cryptojac17

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Quote from: Nissan-GTR on May 30, 2018, 06:38:34 PM

Quote from: Btcallans on May 25, 2018, 06:21:32 AM

I think the wisest way to do with my savings is to invest on bitcoin. In this way I could save my money while gaining from it.

For it isn't, given the fact that it was 'savings'pertaining to your entire kept money from your salary. Bitcoin is an open-source forum it allows us to have a better amount of profit, but in the end of the day investing here is a total risk, and based upon some testimonies , they wait several months up to year before they can have the desirable profit. I suggest to invest here, but not everyrhing that you had, like you diversify your money in different connecting platform that you know and related to your skills.

Actually we never know what is the future ahead of us savings is a wise idea, to be prepared but it is more wiser to invest something in the future, because money depreciate against time so you need to invest to earn profit out of your savings fund.

Beymax08

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I invest 20% of my savings in cryptocurrencies this is the amount that i can afford to lose. 20% will be deposit in my savings account and the remaining 60% will covered all of my family expenses.

Nissan-GTR

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Quote from: Btcallans on May 25, 2018, 06:21:32 AM

I think the wisest way to do with my savings is to invest on bitcoin. In this way I could save my money while gaining from it.

For it isn't, given the fact that it was 'savings'pertaining to your entire kept money from your salary. Bitcoin is an open-source forum it allows us to have a better amount of profit, but in the end of the day investing here is a total risk, and based upon some testimonies , they wait several months up to year before they can have the desirable profit. I suggest to invest here, but not everyrhing that you had, like you diversify your money in different connecting platform that you know and related to your skills.

vachellie

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Activity: 140

Merit: 10

I am actually investing rather than saving my money without interest. Although cryptocurrency is risky, uncertain, volatile and possibly stuck whenever it is still profitable for savings but choosing the right coins will make sense. I save my money in cryptocurrency and it really has good results and I can have it whenever I need it most. I do not keep my money in the bank because I do not have an account yet, but I also plan to try it soon.

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