Only saving money is not gonna help, we need to find ways to grow it. Saving seems to be an easy way to increase the amount of money as time passes. But it is very important to grow the money you have saved as well. If you are keeping your money in a bank and I do recommend you don't do that because banks do provide very low percentages early for keeping your money in savings. Now there are so many options to invest your money even if you don't want to try anything risky at all you can on a good amount of return yearly.
For saving or investing your money you should have some goals in your mind like what is the purpose of saving your money or what you really want to achieve with that money how long you can invest or when you need that money. At first, you should clear up your mind about all of these things if these things are clear then you can start investing plans for yourself. Now we do see there are so many private p2p loan landing/borrowing applications available where you can on up to 12% apr yearly.
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There is risk if you do deposit your money there, if you do via Bank then you can minimise the risk but to earn more you do have to take risk isn't it? But believing in something even if you do know that there must be consequences if you do invest your money then I think you should try to avoid this kind of option. All you can try that a small amount if things are working or not if you think that it's gonna work then you can start with a decent amount because 12 percent apr is a decent amount.
If you want to create well so then just by saving money you can't get rich quickly in my opinion you do have to explore other things as well. The best way to go the money is by investing sure you have to explore things for that at the beginning but slowly you did cat used to all the things. For me, if I did get a good amount of money then I am blindly going to invest that in Hive because I do know even if the price didn't go up I can easily manage to earn around 10% apr with my high power or if I will deposit that money to hbd then I can even on 20% easily.
So if you see potential in any project where you think that it can on you good money then you can invest because I am here for more than 4 years I do know went how things work here and a lot of things that a new one can't understand in a day. It is gonna take them weeks once or maybe years, that totally depends upon how hard/badly they want to learn about this platform.
There are so many projects on hive by which you can all passive income and not more things but in my opinion, if you are planning to invest on hive then try to keep your investment in hive power or in HBD only because other tokens projects in my opinion if you want to play safe on hive. Not all are the same of course there are a few goods to cons as well but if you can earn by only two then why do you have to diversify that much it is going to make things messy for you. So keep it simple, I am sure you did notice that there are so many users who don't even post they only support other users here and do a good return for that.
Even if you don't want to invest in crypto there are so many other options as well where you can or not decent amount of returns. There are other options where you can invest your fake currency you can invest stocks, bonds, gold, and property, and you can fix your money in the bank (some banks do pay you around 7 % apr ). If you want to increase your wealth you need to take risks, doubt ask thanks might be a little hard and it is gonna take you more years to grow your wealth. Yes of course you can't do all the thing at once first thing you need to make a budget and try to class save a particular percentage for everyone if you are a salaried person. Thanks might be a bit harder at the beginning but slowly we did get used to of the things. If you do this continuously for yours done you will notice significant growth in your portfolio and which will make you more confident and I am sure you will the amount yearly.
we should talk about money in our daily lives.
Not a financial advice
see you in the next post, till then keep learning and keep exploring...
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Thanks a lot for staying till the end 😃🙏, let me know what you think.
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@bhattg
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A financial author said in his book "Rich Dad" that money should be our employee and that we should find a way for money to work to help us grow.
Keeping the money in the bank would be like letting it sleep, we had to study, do research to educate ourselves financially and be able to find a good job so that our money was occupied.
Did totally agree with you on that sir if you money is working for you then that is amazing you don't have to worry about things that much. If you are working for money then life is not going on that much easy for anyone.
Most of the population is trapped in these kind of things and those who have money working for them and they are enjoying it. Isko na be hard for sure but thanks did get managed if you really want to do.
Thanks for stopping by sharing your thoughts have a great day and week ahead 😊🙏🎉
!giphy thank you
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!giphy thank you a lot
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!giphy thank you so much
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Without taking risk its impossible to gain profit. But we can try our best to minimise the risk. Because of inflation the value of money is decreasing a lot and saving money in the current time sounds a foolish idea in my opinion. I am not saving any cash money in bank current time.
You are correct, however I always have some money that I let "sleep" for myself. We never know what will happen tomorrow, so it is wise to save some money.
Saving money in bank is a waste. Investment is the best option. Initially, I do save in banks, but, when I came to know about hbd and HP savings, I changed my mind and same time, regretted because, I've lost much in life.
@bhattg Sir,
I want to inform you that earlier I used to do my exchanges through block traders but now it is not working.
Kindly guide me how can I transfer my HIVE to my personal account now.
Now I am not able to be more active on HIVE platform due to my health reasons.
You can use Binanace, let me if you need more details on that
Yes I need more details , I have an ID with Binance.
Ok great i hope this is gonna help you dear friend. https://m.youtube.com/watch?v=PB_FLV32NKQ. Let me know if you need any more help feel free to reach out.
@bhattg Thank You very much sir for your kind cooperation.
I liked. If everyone studied a little before investing, it would be very good, but unfortunately many people only go by what others indicate.