Inflation is a serious issue in current times.
Need I say more??!
Let's jump right into what can be done to cope with it.
Actually, wouldn't it be nice if you can get free food every single day? It is quite a lot to ask for, to be honest.
But not if you consider how Hive's HBD savings account can give you a hand: Free food money every day from HBD Savings, knowing that the current interest per year is 20%.
Conservatively, how much are you paying for food every day? A modest lifestyle and not a lavish one. I think I can manage with USD 30 (or 30 HBD) per day.
For my interest earnings in HBD to cover that, I will need an interest payout of 10,950 HBD per year, i.e. 30 HBD X 365 days.
Given that the principal amount needs to be 5 times of that to yield that interest payout of 20% pa, the principal amount would have to be 54,750 HBD (i.e. 5 x 10950).
Let's reverse the calculation just to be sure.
With an amount of 54,750 HBD in HBD savings, the interest per year would be 54,750 HBD X 0.20 = 10,950 HBD. With that, we can spend 30 HBD per day over a year and not reduce the principal amount, i.e. 10,950 HBD / 365 = 30 HBD.
So indeed, the magic figure is 54,750 HBD if one wishes to get free money worth 30 HBD every day from HBD savings. This is of course a rough estimation, in the actual case numbers may differ a little. The point of this post is to carve out a target number to accumulate towards. It happens to be 54,750 HBD for me to receive 30 HBD perpetually to cover my food money if the saving interest in HBD remains 20%.
Now, how does one get there? Well, that's a story of different strokes for different people, and really a story for another day. Briefly, my overall strategy is to work towards adding to my HBD stash organically via post and curation rewards, rather than pouring fresh fiat to top up the HBD account. Just think Terra-Luna. There are always risks involved, and I am not about to live with the risk of possibly losing 54,750 HBD overnight. Definitely not going to risk every cent of it from my real-life saving stash for emergencies. I need my peace of mind to sleep!
Instead, that target amount should be earned through my Hive activities. Continuing to enjoy Hive by writing posts, upvoting posts, and pushing the rewards either for worthy Hive layer 2 investment, HBD savings or swing trading. These are the very value propositions of Hive and I should partake in it that way to reach my goal. This way, my goal of financial freedom, at least from the clutches of inflation in food prices, can be reached with Hive. Not to mention I improve my financial knowledge during the process over time with my engagement in Hive too.
Hopefully, this post is useful for you. You can work through the calculations to see how much you need based on your situation.
Next, I shall think about the best strategy to accomplish that sooner. If you have ideas, feel free to share them with me.
P/S: This is not financial advice, and please do your own due diligence before investing.
If you read this far... and if you are a like-minded Hiver who is on the path to learning more about Hive and crypto investing, and if you like to be tagged when I write such posts, I welcome you to leave a comment below and let me know. We can form an alliance to support each other's growth.
You might be interested in this post, @thatkidsblack, @graciousvic, @deflacion, @jacoalberts, @young-kedar, @svanbo, @sumotori, @zakludick, @poplar-22 and @hankanon!
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Interested in this?
An understatement. If in these trying times, I might add to my plate so as to avoid working another day into older age by having a plan and stick to it, then let’s do it!
You’ve struck at a nerve as well. Nothing, and I mean nothing ought to come between one and their meal. A humble opinion, sure, but really. What other comforts might there be compared to a warm meal in the belly.
Using a payout from interest on an account would be the best, most valuable and innovative I could see it done.
Let’s have ourselves a race to 55k HBD, then. May your crypto thesis lead you there as my daily lifestyle deliveries leads me.
Game on, mate! 55K HBD!
An other calculation - maybe for a next post? - could be: What do I need to do to grow organically from "X" HBD to 54750 HBD... !PIZZA
Great title!
More important will be the content. For this I'm counting on you! !PIZZA
That's an intersting calculation. Let's go for the 54 750 HBD and hope that inflation is not going to hit us too hard in the next few years! !LOL
One thing that you might have not been considering is that you'd stop more or less with Hiving since you're HP will be minimal OR that you'd need 54750 HBD apart from a nood stash of HP!!...
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Fish and ships.
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@cryptothesis, I sent you an $LOLZ on behalf of @svanbo
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!PIZZA
Indeed! This is a calculation I have gone through myself as well!
Although... before you earn that sort of average with HBD interest, you reach that with post rewards on Hive too!
MY post rewards savings is certainly saving my butt this month!
True that, hard work!!! no less.
!PIZZA
I will be dropping a couple of posts this week about how my Hive blogging saved my bacon.
I had some unplanned expenses that I would not have been able to pay for had I not been making money on Hive.
So to me, there is very much realwork value in continuing with what I am doing!
Wow! Looking forward to read them! !PIZZA
To fight with Inflation we Gotta make our Own way and with HBD savings I'm this is Best and reliable.
I'm also Aiming to increase HBD savings. Wish You Luck with this strategy and for Goal.
let's do it!!!!! !PIZZA
Nice post dude, I have the same goal as your dude, all the money I earn working to invest in HBD Savings soon, it is a better option than having it in the bank stagnant, and you help the token economy, I have been studying the amount to generate $100 per month in Savings
Good to think about such strategies. Why not write a post to share too. !PIZZA
A great strategy on HBD savings. I have 5 HBD that's just in my wallet. So far I have 20 HBD in savings, I shall transfer the 5 now !
All the best to you! !PIZZA
Thanks a lot, I should have done it sooner. It all adds up quickly !
!PIZZA
!LOLZ
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They'd crack each other up.
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You're good at Saving and that's one thing i learnt about you. Instead of keeping your money in banks you save them in HBD and also get interest for them.
I wish you all the best
Still risky, but less so. Keeping a bit of the token earned through Hive activity in HBD can be a safeguard of some sort.
Exactly but the 3 days to withdraw is one disadvantage. What if you need the money immediately?
well, can't help it. Unfortunately.
I know 😂
In crypto you must learn to be patient
54,750 is not easy to get, it is a huge number, which I don't think many of us have in their hive accounts, there will be very less people having this much of HBD and are getting benefit of this 20% interest. Not doubt it's dream for everyone to have this number in their HBD savings account to fight the inflation going these days.
Yes, it’s not a small amount. If the goal don’t scares us, it won’t excite us.
With such a big target, it would mean there is a need to strategize. Which will make our Hive activity more fun. !PIZZA
I'm earning 50ish a month and while I want more and feel I'm missing out each month that I got to claim HBD, I would feel nervous if I had real money in HBD savings. My goal is to get to 5,000 HBD and then make some decisions. Since I'm not a trader of any kind the savings plan seems like my way to beat the system with crypto. I can't even trade hive/hbd correctly in pumps lol.
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Yeah, always a nervous affair to put in real money. !PIZZA
54k is alot! And I mean really ALOT
BUT it is manageable to say the least. Not for everyone but it can be done by cutting some expenses for a year or three... Then you'll be able to eat for free everyday. The thing is people don't like waiting for things.. Patience is not known to be everyone's game 😂
But it really makes one think eyy
$8-$10 a day in the Philippines will work perfectly fine for an average pinoy. :)
61 HBD is the magic number to get things rolling.
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You just raised the bar higher! !PIZZA
You are absolutely right, at this time the conditions of every country have gone down a lot and I think it has gone too far. Here in Pakistan too, people eat bread twice a day with great difficulty. The way you calculated it is very good for people who have HBD and have done city can comfortably afford their food. I am also trying to invest some money from somewhere in the way you mentioned and earn profit from it.
Totally achievable! Get it!
I'm going to get some sell orders filled at $2.00. Maybe in 2026?
I'll convert to HBD then. For now, I'm powering up everything.
I have similar inclination. Thinking mid to long term. !PIZZA
I still prefer to stack it in the savings and compound it. Also, I don't know if I want to just stick to my principal amount as you want that to grow incase prices go up.
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You said it right! Inflation issues are becoming more and more serious. All of us are affected with this.
Good for you that you made a lot of savings. It's a motivation for us as well to do great on Hive.
This is a very helpful guide to newbies. Thanks for the information.
I am also just starting.
Thanks for reblogging my posts.
!PIZZA
With that amount of money you can build a self sustaining garden and stop buying the crap the system is feeding people
30 HBD per day seems like a lot if its only for food :O
How many people?
family of plenty, maybe. or just one in an expensive country.
Fair fair :D
I can spend around 15 usd per day on food as someone who is one and living in an expensive country :P
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