Hi fellow Hiveians,
Today I wanted to talk about saving, and how it's not as easy as one thinks!
The Itch
Do you sometimes feel an itch that you know you shouldn't scratch, but it's really tempting to do it?!
I know that I need to save my HBD for a specific purpose, but seeing the jumping around of things I am struggling not to sell my HBD right now!
I bet you thought I was talking about something a little risque, didn't you? You heathen!
I am saving 100 HBD for a year-long Leo membership, mainly because it prevents me from having to think about it for a year LOL and that's a really good benefit for me. I want the Leo premium benefits, but I also don't want the hassle of trying to remember to do it all the time. In comes the yearly option and I'm absolutely sold. The challenge is though, it's been a while since I've saved that kind of HBD!
I don't know why I didn't think of it until writing this post.. but I just staked my HBD into savings while I am waiting for it to accrue up to 100. I know it's going to be annoying to wait another 2 weeks or so for the HBD to accrue enough to where I can use it for the membership, but why haven't I staked the HBD now while I'm waiting so that I can accrue interest? I guess it's one of those things that you tend to forget when you haven't done any HBD saving in a while!
I definitely have an itch to cash it all out though, and not save for the Leo membership. I have been really lucky and enjoyed quite a bit of swapping my earned HBD for Hive over the last year, so much so that I was able to stake over 3k Hive Power from that Hive! That's a really amazing amount of Hive, which stays there in my account for the sheer purpose of increasing my stake. I haven't powered down on my account and don't plan on it in the near future!
Having the HBD sitting there though.. I could buy a bunch of stuff in Splinterlands or elsewhere! I likely won't though, even though it is a little fun to think about dropping 50 dollars on some cards :D.
I think it's an interesting thing to think about though - we are so conditioned in the world and economy we live in today to spend everything we have, constantly that when we are saving things, it feels a little odd. I know HBD is a bit different than a fiat savings, but in a way it's also not. There are lots of opportunities to spend HBD here on Hive, and there are more and more every month or so. Trying to save the stuff, feeling like it's burning a hole in your pocket, is pretty sad in some ways.
I think the issue largely lies in the banking institutions. They used to incentivize people to save their money more and spend less but these days it's purely about spending more money that you don't have and go into all kinds of wild debt. That shit sucks! I know I'm really grateful to have the lived experience that I do, where my parents didn't (mostly) spend more than they could afford, and my wife and I both save as much money as we can. That translates into all kinds of different areas such as here on Hive.
I certainly could have spent the HBD I was trying to save, because it's easy as hell to do that, but thankfully I opted to save it and toss it into savings for the moment and get some interest for it. The 15% interest is a decent incentive to park the stuff for a bit while I wait for the rest to come in and then I'll spend it really quickly :D.
What about you - do you have issues trying to save for something? Let me know in the comments!
-CmplXty. Real human written content, never AI. All pictures are mine unless otherwise stated
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I was also talking about this the other day, I am trying to save up as much as I can esp these days and rather than choosing a saving account that is extremely accessible, I do the 3 or 4 months period cycles. It's helping me thus far and I am happy for it. Atm, I am finally comfortable with my spending and being able to save up too.
These days I allocate 10% to savings and 5% to different kinds of saving instrument, I am trying to cast my net far and wide rather than just relying on one type of savings hehe
That’s great! I think it’s important that you have a financial sense like that. There’s a lot of people who don’t care or don’t have the desire to be able to figure out how to come up with strategies to save money.
15% savings split around is a really good thing! We haven’t saved as much the last several months for various reasons but hopefully getting back to that soon!
I van definitely relate to that itch. But I can fight for it oftentimes coz I really want to save. In the end though, I ended up using it for a very important matters. Lol. No regrets.
Ya that's good as long as it's important then you can justify it!
For me, I think I would decide if something is of value to be purchased, if yes then I would buy, if not then I won't. Fortunately, I am not easily tempted when it comes to spending. Hehe.
Yeah I don't usually spend money unless I need to. I've had plenty of times where I spent it without needing to but I rarely do that these days.
👍
Thankfully indeed! I think sometimes it's good to opt into putting funds away that we can't rather easily access whenever we feel the itch to do so. We've definitely been conditioned to be pro consumers and spend more than we tend to earn, thanks to easy access to bad debt.
Yeah there's sadly a lot of bad debt floating around out there. I think we might be turning a corner and getting smarter with money, at least the peeps here on hive are!
For me, Hive helped a lot in that regard. I understand better the inner workings of money now.
I started out with small goals for my HBD. At first I wanted to earn enough that I was getting 1 HBD per day from savings. Then I wanted it to be 100 per month. That's where I am sitting right now. If they hadn't cut back the interest rate I would probably be making about 150 per month right now.
Ya that's good dude 100 per month is nice! I won't be saving any HBD after this for a bit, maybe do 1 deposit per month for now and let it accrue. My main drawback selling it all is that if hive tanks in price and I don’t have a bunch of saved HBD then I can’t cash out and get a bunch of cheap hive!
The good thing is it only takes three days to unlock it versus 13 weeks or whatever it is.
I still have my HBD sitting in my account, not trying to put it into savings just yet, as the Hive price is still a little bit volatile. I am still waiting for it to go down below 0.4 or maybe 0.3 to buy in again.
But yeah, when you have something from your main goal, than it is very easy to get tempted to spend the HBD you got, getting it bigger without any purpose is a torture on its own. hahah
I know what you mean dude! I want more cheap hive and every time I think I'll get some I fail lol. I sold a bunch of hive at what I thought was the high, and it went higher then came back down to where I sold it and it hasn't really moved much since. I ended up trading it back and broke even thankfully but I was only up 6 hive at the best price. I should've sold it at 6 lol.
If the hive price remains consistent in this range I'll take it, but would certainly love more hive per HBD the way we were for a while!!
Interesting article and I also have some HBD and I haven't exchanged them for hive yet