Hello Everyone,
Welcome to Saturday Savers Club with Susie-Saver!
This week in the news - Savings to Bitcoin:
Source It's all changed since my day π.
Back in our own backyard, @eddie-earner's Saturday Savers Club post had the second highest number of comments on leofinance.io for the second week running. We had twenty more comments last Saturday than the previous one - can we hit No 1? π
Don't forget: the monthly CL buy takes place this week. If you want to take part send HIVEp or LEO to @cublife by 6am UTC on 21 June 2021. CL tokens issued at 10pm UTC that day. Dividends paid out in LEO every Friday at 9.00pm UTC.
Did you see @blocktrade's post Important note for anyone holding HBD before hardfork 25? If you have HBD, check it out. Hardfork 25 is expected about 30 June 2021.
SPI, LBI and CL Bonanza Chaaaaaallenge!
Win extra tokens! For the first time, we are including CL tokens in the prizes you can win as well as SPI and LBI.
Next week, we hit Week 26 on Saturday 26 June 2021 - half way through! So time for a six-month savings and investing review. Write your post, include #saturdaysavers in the tags, and post a link to your entry in the comments below.
PS watch out for the #HivePUD Challenge in next week's post!
Now then - this week's winners!
Every week, you have the chance to win EDS tokens for commenting. Last week we had comments from @gillianpearce @ericburgoyne @bearmol @justclickindiva @missaj @jfang003, @riandeuk, @bashadow, @solymi, @dagger212.
Okay, everyone who commented last week went into the WheelofNames and the winners are: @bashadow and @bearmol - yay!
- Congratulations!
Thank you for taking part in Saturday Savers Club, everyone!
What's been happening in your world this week? anything exciting or fun? Tell us in the comments - you could win some EDS tokens π.
More about EDS tokens
EDS tokens are a low-risk income token, ideal for people who want to save. There were only 20,000 originally and they were all sold at 1 Hive each, with guaranteed earnings of 12% each year. You can now acquire EDS tokens through the EDS Miner token.
Earnings come from powering up and leasing out the Hive that came from selling the tokens, plus earnings from posts and comments each week. EDS pays out every Monday evening. Last week the pay out was equivalent to 24%.
695 EDS Miner tokens left.
Back to business ...
We're going to be here every Saturday through the year growing a little savings honey pot, if you have plans for saving or getting to a different place this time next year - maybe $5 Hive by the end of the year π€?
Whatever it is, stick with Susie Saver through the year and we'll get there. Along the way, we'll share lots of tips and tricks for saving and how to get the knack of making your money work for you and not the other way round.
Let's Get Started
Image by Andy M. from Pixabay Shall I replace the chicken with the Bezos rocket? π
We're using the 365 Penny A Day Challenge framework for the Saturday Savers Club. We're aiming to save Β£667 worth of pennies by the end of the year.
Penny a Day Tracker Sheet
Right click on the image, save it to your computer and then print it out.
Okay, let's check in ...
1. Check Progress
Each week, we're going to check in through this post and see where we are up to. Our target for today, 19th June, was 11.69p. Next week, we'll be saving 12.18p and by Saturday we'll have saved 157.07p!
Each week, I'll be buying Hive for @susie-saver's account with the pennies we've saved.
Here's this week's results - 11.69p buys 38.84 Hive.
Over 370 Hive saved in 25 weeks (292 Hive powered up, the remainder invested in EDS and EDSM)! Plus we're earning 3.22% inflation on powered up Hive, 24% on EDS tokens and a little on curating!
@susie-saver has powered this week's savings; she's also been voting following a curation trail, bringing her account to nearly 293HP. She's aiming for 530HP and is 55% of the way there. What's your goal?
How much did you save this week? Did you meet your target? Or did you save even more?
Being accountable to another person or a group is a great way to motivate yourself to save (or anything you want to achieve). Of course, you need the right kind of people around you - ones that think what you're trying to do is worth doing ... or at least fun π.
Sign up here with us to start your savings journey:
- just leave a comment below if you want to join the challenge.
- follow @eddie-earner so you never miss a post (Eddie has lots of ideas about how to make money - he's the earner, I'm the saver - you'll like his posts).
- share this post if you think your followers might be interested.
2. The Golden Pig Tip
Image by 3D Animation Production Company from Pixabay
Every week, we're going to share a Golden Pig Tip for saving. By the time you've tried them all you'll have Β£670 saved.
This Week's Golden Pig Tip
Here's this week's Golden Pig Tip:
Start to save for your emergency fund at the same time you are paying back debts. An emergency fund is a buffer in case you lose your job. If you do lose your job, you'll have some cash to keep your monthly outgoings and your debt repayments going.
Would that work for you? There was a discussion in last week's comments about whether it is better to start to build your savings at the same time as repaying debt, or whether it is better to clear the debt first. What do you think?
And today is always a good day to start saving - you can start on Day 1 or make up the first twenty-five weeks to catch up with @susie-saver. Or join our 100 day savings backwards challenge (ends 31 July 2021).
That's it for this week. Hope you've enjoyed it and look forward to seeing you next Saturday with progress so far and our next Golden Pig tip.
Today's post by @shanibeer writing as @susie-saver.
EDS, @eddie-earner's income token, is part of the SPinvest family including SPI (@spinvest), LBI (@lbi-token) and the @spinvest-leo account - a cool club in the making. Spinvest Family Motto: Get Rich Slowly.
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Great week, bought some (just a few but every bit helps) EDSM the other day after scooping up a cheap chunk of hive. Powered up another large chunk, so happy with the progress :-)
The price of Hive has been good this week for anyone wanting to increase their stack ... especially with HivePUD coming up π.
!ENGAGE 20
ENGAGEtokens.Hello @eddie-earner and @shanibeer. How nice to hear about the Scouts introducing finances to their youth. An awesome investment in our young people to learn early the benefits of savings.
My granddaughter is with us some weeks during the summer. Currently, she's calculated that she needs about $100 bucks for her expenses during her vacation trip next month. She's in a savings frenzy right now.
Thank you for sharing the story about the Edmonton Cubs. I hope many participate.
Your granddaughter sounds like she is right on point!
Great to see that in a young person, setting her up well for the future.
!ENGAGE 15
ENGAGEtokens.Congratulations on the increase in engagement this week and I appreciate the EDS. I always say they are the gift that keep on giving.
This week Iβve been reading a lot about Poverty and Hunger and how growth in China and India has helped to lift over 1 billion people out of extreme poverty since 1990.
I pray that more will be done to trigger economic growth on the continent of Africa. Particularly in the landlocked locations that have high levels of extreme poverty. When that happens weβll experience another wave of mass reduction in extreme poverty like in China and India.
Here is a post of a Flower Park I visited over the weekend.
https://peakd.com/hive-127788/@bearmol/yellow-butterfly-or-purple-flowersor-green-fields
It would be good to see the kind of change you're talking about extending to all parts of the world so that everyone benefits. Even better if we can do that in a sustainable way that protects the planet and diversity.
Hope you will take part in the half-yearly savings review Challenge this week - will it tie in with one of your progress reports? I hope so π.
Yes, EDS, one of my favourite tokens β€οΈ.
I'll try to do a progress report in keeping with your half year savings challenge. π
Fabulous, thank you π
Thank you
!ENGAGE 15
ENGAGEtokens.Here you go.
https://peakd.com/hive-183952/@bearmol/approaching-the-big-six-or-apart--a-picture-and-a-reggae-tune
Hello @bearmol Poverty and Hunger are the two conditions that brings me to tears to hear and read about. But especially child hunger. I'm happy to hear the conditions in India has seen a bit of improvement. As for Africa, I can only pray things will change. In order for change to happen, the governments of these countries have to change their attitude about their most precious resource....their people.
Thanks for sharing.
The "experts" say that hunger is a distribution issue as there is enough food in the world to feed everyone. In a book entitled Stuffed and Starved written some years ago, Raj Patel says that there are 1 billion overfed people and 800 million undernourished people.
Lots of food that is edible is thrown away daily. Apparently all that's needed to solve the hunger issues is the will to take action.
Yes, millions of tons of food is thrown away daily.
!ENGAGE 20
ENGAGEtokens.Get rid of the debt first. I think you should try to have a small savings account just for unexpected expenses but....once you get a decent chunk saved ($500-$1000) take it and make a big one-time payment towards your debt and pay it down. The more you pay down your debt, the more you can actually save as you're not paying near as much interest each month.
Find your lowest interest credit card and use that if necessary to pay the unexpected expenses. Also, once you have balances lowered somewhat, look for cards that allow "interest-free" time periods of 12, 18, even 24 months for balance transfers. You usually pay a 3% fee up-front on balance transfers but you'll more than make up for it by what you save in interest over that time period. Plus, you'll simplify your life by being able to just send money to one place, rather than a dozen.
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You're raising beautifully the dilemma between paying off debt that has high(er) interest, so is costing you more, and putting aside an emergency fund to cover emergencies like lay offs or the car that you need for work breaking down. Finding cheaper ways, through things like low interest or no interest credit cards, to cover the debt is an excellent idea.
!ENGAGE 20
ENGAGEtokens.Hello @dagger212 I have tried both ways of paying off debt first, then saving, and paying debt and saving at the same time. Early on, I found the most efficient way for me was to pay debt and save. After 6 months of savings, I would take that amount and pay down the debt a little more.
I found that it did me no good not to save. One reason was that borrowing again was refused either for being too close to the credit limit or debt to income ratio was too high. So I definitely needed the savings along the way.
You make a good point with the balance transfer feature for new cards that give a grace period. The key is to pay the transferred amount entirely within the "no interest" grace period. I took advantage of that option too.
However, this is my true story. I applied for a particular "no interest" debt-consolidated card. The caveat was that we couldn't incur any additional debt during the time period allowed to repay. In our eagerness to secure the consolidation, we agreed. Of course, as with all things that happen unexpectedly, we had to borrow some additional funds from another source. The issuer cancelled our card, reinstated the revolving interest which was over 20%, with a high monthly payment. Devastating blow.
Any credit option that helps in a particular situation should be a viable consideration.
Thanks for sharing your thoughts.
The interest for holding HBD has been one of the best things for me.
Anytime I receive my HBD from post rewards, that gets put straight into my savings so I am not going to touch it, especially with 3 days on the withdrawal.
I try my best to not try dice betting and to save instead, so when I had a big win I bought HBD right away to be able to save more and now sit at 219 HBD in savings.
So I think this is great for anyone in general, but especially people wanting to not spend money and such, more motivation to save knowing it is safe in there.
Hello @thegoliath What an awesome savings in HBD. I'm considering doing the same thing of transferring my HBD from post rewards straightaway to savings. Once I get my interest payment in 2 days on my liquid HBD, it's all heading to savings.
Knowing interest won't be paid on liquid after the hardfork, I'm in all for the savings.
Great idea to be looking into it, once you get interest on the liquid HBD.
It is a great feeling and motivational, knowing you are working hard in saving and don't think twice about the choice to chucj HBD rewards into savings as you get it. π
Yes, you are right, it's safe and it's earning. The three day withdrawl delay is good, too,from a security point of view, and from just giving time to consider an impulse buy π. On the other hand, great idea to buy HBD with gambling winnings - that's a win-win-win π.
Good to have you with us. Hope you will take part in the half-yearly challenge posting challenge this week, I'd love to flood the Leofinance feed with posts about @eddie-earner and saving!
It is definitely a win-win-win! π
I would love to take part, I get quite busy right now and don't know if I will have the time yet to do the post.
Happy to just know, I am taking part in my own savings goal, reading these posts and having those eddie earners and miners! π
Appreciate the challenge and delighted to have you on the journey!
!ENGAGE 15
ENGAGEtokens.!ENGAGE 20
ENGAGEtokens.First off tell the wheel spinner nice job, virtual or not, it landed on my name so I am pretty happy with that.
I think a balanced approach is best when it comes to trying to save and de-debt oneself. Debt is something that most people are going to have for a while, it is part of life, we just need to know when enough is enough.
Savings is something not enough people have. I think a good number for people to try for is to get to at least the same amount in savings as your second year of work earnings were. This will take time. If at the end of your second year at work you made 10,000 dollars then this is the first savings goal a person should have. This would hopefully be reached when you can remember what it was like to live on that 10,000 dollars a year.
Second goal should be to increase your savings to what you earn in the year you reach your first goal with 10% added on top of it. So if you now make 50,000 dollars a year shoot for 50,500 dollars to add to your savings. Hopefully you did not reach a point where you had to use your emergency funds, but stuff does happen, and if you get lucky your savings will be a bonus to your regular retirement account.
That wheel spinner has a great job - with every spin someone is happy π.
I agree about a balanced approach, if it is possible to get to that position. Debt has its uses and there are some great deals around - 0% interest on a new kitchen, with payments over three years, is a helpful option with a big expense. As you say, knowing your limits helps.
A staggering amount of people in the UK have no savings at all, or less than Β£100. Financial management, budgetting, saving and planning expenditure are all skills that are not taught in school - I was interested that the scouting movement have introduced a badge for it.
Some good goals there - goal setting is another important skill that people sometimes struggle with.
Thanks for participating - are you going to take part in the half-year challenge?
!ENGAGE 20
ENGAGEtokens.That went quickly!
I've had a very nice week with a couple of trips to the beach. I'm quite glad of the recent rain as that's given me a chance to catch up with some online stuff that I'd missed due to the sunshine.
I'm trying to move off Coinbase Pro but yesterday I noticed there was a chance for another dip so I ended up moving a bit of fiat across again. I'm glad I did though as I picked up another little cheap buy overnight.
Getting set up with a cheaper exchange is high on my list but top is finishing my research regarding places to earn interest on my bitcoin. I'm making progress with that albeit slower than I'd like.
Hope you're having a fun weekend. π
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Days at the beach sound good, that's what I miss most living in the Middle Lands - two hours at least to any seaside.
Look forward to hearing the outcome of your research about Bitcoin. I must admit I am being a bit lax there and just hodling π.
Glad you picked up the tip about HBD and HF25. Just moved the little I had and triggered an immediate interest payment. Always a pleasure!
It's raining here, but excellent for the garden. Everything is doing very well, and looking lush. My courgettes have done nothing, well, an old packet I found, so best I sowed them all, even though there won't be room for all of them if they do germinate. Ever.
I would find it very hard now to live away from the sea. I love being able to walk out my front door and be on the beach in less than 5 minutes.
I'm still just hodling at the moment too. Although a couple of my buys got filled today. Woo hoo!
The BTC I have on Bitvavo is earning 1.2% but that's more by accident than intention and there is no GBP pair there.
I followed your lead and transferred my 14.161 HBD to savings. I didn't get an immediate interest payment though. π
Glad to hear your garden is doing well. We finally got our hay baskets planted yesterday. We've had the plants for almost a month but it was too hot to put them out for a couple of weeks and then we were busy with other stuff.
I've just got back from a nice Father's Day sea front walk and now it's time for a little more Bitcoin investment research. I'll probably squeeze in half an hour. π
!ENGAGE 50
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!ENGAGE 20
ENGAGEtokens.Congratulations ππΏ to everyone who met your weekly goals - cheer up to those who didnβt do as you hoped you would. Congratulations to the folks whose names came out out of the spin.
My coin drive continues and my can weighs more than it did last week. Slow and steady wins the race.
Sounds good π.
Hope you get the chance to take part in the half-yearly review Challenge this week. It would be lovely to have lots of entries and fill Leofinance with savings posts π.
!ENGAGE 20
ENGAGEtokens.Hello @missaj Slow and steady wins the race. A good approach that works for me too, especially when it comes to crypto. No hasty moves unless research says "jump to it now".
Congrats to this weeks winners. I have been saving for more club life tokens. My patio garden is coming along been getting some strawberries every other day, and the tomato plants have slowed down but are still growing. Glad to see you are getting more traffic to your posts so keep up the great work. Have a great one all
Hello @ericburgoyne Happy to hear you're getting more fruit from your garden. I too have been saving for CubLife to participate. In fact, I just transferred an amount to CubLife for the June 21st participation.
Yes, I'm getting excited, the buy date is getting close now π. I love the paydays on Hive and now, interest on HBD!
Lovely to have fresh strawberries, they are so soft and sweet right now, I'm getting several punnets a week, sometimes they don't make it back to the house π. The tomato plants do seem to have slowed down a little, but I have flowers setting on mine. They also seem to be attracting some tiny flies, I will have to spray them with a soap solution.
Hope you will take part in the posting challenge this week, so we have lots of posts in leofinance about savings - that will boost the traffic, too!
Have a good week.
!ENGAGE 20
ENGAGEtokens.What type of review do you want for this post? I still haven't caught up on going back to my challenge but I made sure to have enough HBD and HIVE. I guess I'll try to sort it all later this week.
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Anything you would like to write or it would be helpful for you to write about your saving and investing experience (ideally with a mention of @eddie-earner π) over the past six months. Might also be a nice nudge to help you catch up again with the Challenge again π.
I managed to catch up with the challenge and gave an update on my progress in the post below. I just edited the post to tag eddie-earner.
https://leofinance.io/@jfang003/saturday-saver-s-challenge-progress
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Great stuff - well done for catching up, that can be fiddly.
I'm going over to check the post.
!ENGAGE 20
ENGAGEtokens.!ENGAGE 20
ENGAGEtokens.