Wise thing to do with your savings. - page 86.

LogitechMouse

legendary

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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?

I think its better to invest it in cryptocurrency rather than putting it on a time deposit. To be honest, I hate banks but I don't have no choice since I can't get any fiat money but thru banks only (disregard remittances). It will be more risky than putting your money in a time deposit but it will give you higher profit than letting your money sleep on your bank account. Just make sure that if you are investing it, you must put it in a long term coin.

sepeda karat

newbie

Activity: 70

Merit: 0

I think it's best to have a nest egg worth three months of your salary, this will be used when you lose your job. Next is getting insurance, growing up and maturing it is good for you.

BChydro

hero member

Activity: 1426

Merit: 506

Quote from: muddy waters on May 26, 2018, 07:20:50 AM

Why not investing the saved money into cryptos? There is a bunch of prospective projects with tokens being traded for like x2-3-4 from their original price.
And it's a good time to invest in the most popular coins like btc, eth or dash because the market is in its dump.

The first rule of investment is not to invest everything back, you need to put your savings you made in your local currency and when you see a sure shot project you could invest in those but i would think twice before using my savings because you never know how the market will react in the short term, if there is a major correction i would definitely invest in bitcoin and other top coins, i do not see these small time bumps as correction, if the price of bitcoin reaches below $7k then i will invest my savings.

IamSaitama

jr. member

Activity: 67

Merit: 5

The wise thing to do with your savings would be to invest it in something that gives you a profit out of that investment you give which is basically the essence of investment. It would be bad to stack your money in your own wallet or vault. It would be good to put it in somewhere where it would eventually grow maybe after a year of being invested or even months. For people who likes to risk, cryptocurrencies are good for you. And for people who do no want much risk, you should invest in companies or banks that has established good reputation in the society.

SplendidHunter

jr. member

Activity: 196

Merit: 1

For me wise thing is to turn your free money not into entertaiment, but to actives, which can work and be profitable

Baoo

full member

Activity: 868

Merit: 116

For me, it is unfortunate that this year is very bad on cryptocurrencies and especially Bitcoin. Plus, there have been many crises and so far still exist, so IMO the best thing to do is Holding and investing in a long term. And you can be wise in the field of trading when you have a good knowledge of all situations and long term experience is very essential and even if there are some obstacles (financial losses) .

On the other hand, I expect that this drop will continue (maybe will last for a month or more), So I thing the best choice in this period is to HODL 80% of your financial budget especially in the best digital currencies on the market like, Bitcoin, Ethereum, Ripple, Cardano.. and after that, you just must see what will happen in the near future, and the other 20% to buy some coins who have weak price and an acceptable value of market cap (like, Tron).

Lhanofclover

newbie

Activity: 102

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If you have enough saving you can invest it in an investment company, maybe some would possible to try to get a life insurance with interest.
With this, your saving for an emergency fund is can be your savings as for your future.

Hemady17

member

Activity: 505

Merit: 35

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?

My suggestion is to do the pyramid of savings where in you need to do the based up to the top of the pyramid. Here’s the simple representation of the pyramid:

Stock Market/Cryptocurrency
Mutual Fund/UIFT
Time deposit/Bank savings
VUL/Insurance
Emergency Fund

You can interchange the mode of savings from third to top but for emergency and insurance those two should be strictly in the based area. The 20% savings should be in that order.

pasti kaya

newbie

Activity: 91

Merit: 0

for me, having savings is the main thing we need to do because savings can be used in anything when we need it.

East2011

member

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I think the best thing to do with our saving is put some part of it in the banks. And if you want put a business so that you can see your saving grow. If you do the right business.

Kakawate

full member

Activity: 378

Merit: 100

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?

I dont believe in letting the money sleep or just left untouched in bank accounts or vaults, the value of money is gradually decreasing, as I see it, the value of money is losing its original price as time pass by, so I would prefer making my money grow instead of just simply saving it in banks.

Bitcoincole

full member

Activity: 504

Merit: 102

Quote from: muddy waters on May 26, 2018, 07:20:50 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?

Why not investing the saved money into cryptos? There is a bunch of prospective projects with tokens being traded for like x2-3-4 from their original price.
And it's a good time to invest in the most popular coins like btc, eth or dash because the market is in its dump.

For me it is really important to have savings especially for emergency purposes but it is wise also to invest in something profitable like crypto. You can always balance your savings to something that will benecit in the future ensuring that you still have funds in cases of emergency.

muddy waters

member

Activity: 294

Merit: 10

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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?

Why not investing the saved money into cryptos? There is a bunch of prospective projects with tokens being traded for like x2-3-4 from their original price.
And it's a good time to invest in the most popular coins like btc, eth or dash because the market is in its dump.

agimat

newbie

Activity: 115

Merit: 0

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?

In my own much better that you will invest your money in bitcoin in long term investment so that it will surely earned
a profit in the long run, it will make your savings grow while waiting you dont need to give stressful days of hardwork to have and income, all you need to do just monitor the value of the coins every now and then.

Aikidoka

sr. member

Activity: 1078

Merit: 342

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No, I would rather keep it that way. Having saved 20% of my profits for future purposes is what I was committed to do because if you are not going to save, you will not have a good capital in the future, and even if you wanted to establish a business, you would not have a good capital to begin with. That is why I would want to save money and forget about them until the time comes.

kier010

full member

Activity: 532

Merit: 100

you should not touch the emergency funds because in time of needs you can use the money right away. it is a big hassle if you invest it then problem occur. problems occurs in unexpected time so just be content what you can invest.

Odebode05

newbie

Activity: 2

Merit: 0

The best thing to do with the saving is to invest it wisely in order to yield good money

Gagamboy

jr. member

Activity: 54

Merit: 12

a new dimension in cryptocurrency investing.

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?

Many people has already became successful because of bitcoin and it has proven its capability to change anyone's life for a very long time already. You should not waste time anymore instead you should start investing right now because time is money here. Grab the opportunity to buy bitcoin as soon as you can so that you can gain benefit from it as time passes by since the value of it is volatile.

glowing10

full member

Activity: 812

Merit: 142

Quote from: kujaroth on May 25, 2018, 10:45:18 PM

Saving money is totally different from investing money. You should save money and invest money you are ready to lose because investing money into something like in crypto is a big gamble. Luck and timing depends on whether you will gain big profits or lose bigtime.

Invest in the best things. Do take some risk to get the desired returns and crypto currency is one form to it. No doubt the risk is high but also the returns are exceptional and can make you millionaire in short time where as no other can give you this returns.

tokensupermarket

jr. member

Activity: 53

Merit: 14

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?

think it would not be that much popular anymore because bitcoin has been made more famous because of its expensive value which attracted many investors. There would be a bit of possibility that it would still be reach but I don't think it would still be on top if ever its value is stable. There's a lot more things to happen but as soon as we keep our faith in bitcoin, it will keep on growing.

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