How can I raise 10k HBD savings this year?
A moment ago, I added another 200 HBD to my savings, getting me up to 2221 HBD in savings. That amount, at 12% APR translates to about 22 HBD per month from savings.
That's pretty much the same amount of money most minimum wage earners get in Nigeria. In reality, though, my plan is to get a whole lot more from my HBD savings.
I spoke with some of my friends who talked about their own plans to stack HBD during the course of the year. Their target and mine were the same as I have harboured the plan to accumulate 10K HBD into savings.
With 10K HBD savings, I'll be pulling 120 HBD per month from my savings dividend. I also intend to allow that compound, meaning that my monthly interest will be increasing every month.
I am still quite the distance away from my target and the current market situation makes it even worse.
The market doesn't sleep though, and neither can I, so I have to keep going every day, stacking as much as I can to ensure that I meet my target.
Stacking HBD will be a challenge
Living off my crypto earning has meant that I'm not able to save and invest as much as I'd like to. However, I still try to always squeeze something out every day.
The growth of Spinterlands had a net positive effect on my portfolio but most of it has been washed away by the market situation. This means that I don't have the option of selling monsters and even if I do sell monsters, I'll just end up throwing the entire proceed back into buying CHaos Legion packs.
Speaking of packs, if things do work out from this my SPlinterlands venture, I might end up with some extra funds that could technically be converted to HBD, IF I reach my goal of 1000 purchased packs.
So as it stands, I can't exactly depend on SPlinterlands to raise the fund, which frankly speaking, leaves me short of options elsewhere.
The alternative that I've already touched on is through post rewards and that's not exactly constant, so I have to work with whatever I get. THrough posting alone, I can get up to 100 HBD per week, so that will take me 100 weeks to reach 10k HBD, which isn't good enough.
I also don't intend to dump my Hive-engine tokens, especially Leo where I tend to earn the most. I have huge plans for that asset in the future. The optimistic part of me believes that leo might get to $1 this year and the belief of people like @acesontop is transmitted into my life.
Assuming things go well for Leo and I have a few thousand tokens liquid, I could sell a bit and convert to HBD. I don't want to set any lofty targets but something around $3k worth of HBD from Leo will be really helpful for my goal.
Another Hive-engine token that could contribute towards my goal is DEC. I have accumulated quite a lot of the assets and all I need now is one final push before the end of the SPS airdrop.
We still have 199 days of SPS airdrop to go and I believe that's enough time for the asset to make one strong push. If it can even get to within the $0.01 range as it did in the past, I'll sell some of my holdings and move to HBD.
Outside Hive
I don't really have much going on outside hive these days. I have investments in Cubfinance and Travala but those are all long-term investments.
I could sell my TRVL tokens if they ever get bigger someday. Although for now, their price has been heading the wrong way. They've shed 15% since the last time I spoke about them and AVA isn't doing well either.
Cub token has also shed some weight recently, as it trades at a very low price of $0.28 at the time of writing this post. I can't imagine selling Cub tokens at the current price because it feels like a waste of time to spend all these weeks farming just to sell at this shit price.
I reckon the polycub airdrop will have a positive effect on the price. Speaking of Polycub, there will be a brief opportunity to farm at high APR, so I could use that opportunity to make some quick cash. Sadly, I only have a few hundred dollars available, so the turnover won't be monumental.
Every dollar counts towards the goal though, so I'll take whatever I can get. It's not going to be easy but I know it'll be worth it at the end of the day, and I'll be one step closer to early retirement and living like @trumpman my role model.
Contact & Support
- Discord: belemo#9593
- Twitter: https://twitter.com/belemo__
- Hive.vote page
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This post reminded me of something I read from @taskmaster4450 a few days ago "HBD Saving: A Simple Exercise in Wealth Building" where he was explaining the benefits OF HBD savings and how it could safely increase your worth if you keep at it for a couple of years.
I think it's such a great way to keep your money as the percentage increase kind of makes up inflation in the long run.
This is a very good goal and one that I think you could achieve.
Good luck big man.
Entry for @comet.ranker #ping contest.
Yeah it's a big plan tbh. Way bigger than what I earn right now. Will need a combination of luck and good fortune to achieve it.
10k is a huge amount brother! But you will get there at some point :D
I am also slowly adding to my savings
Shoot for the stars so if you miss you land on the moon
True
This is the way!
I have similar goals. Totally taking advantage of that interest rate. I've only got a few hundred saved now, but I'll be adding to that position monthly!
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I think so too. If I can add like 700-800HBD per month, I'll achieve the target before the end of the year. It's a lofty target but you have to shoot for the stars you know?
Absolutely, I like the idea of converting some Leo to HBD too when the market is right. That's a nice strategy right there!
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lol
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I bet you make it happen. You are determined and will find a way. I have the goal of 2500 hbd at the end of this year for the same reason. If things turn out more positive during the year I may move the goal up because the sooner the better.
10K is a stretch for me tbh. I decided to set a hard target because if I'm dreaming, I have to dream big.
As long as there's no emergency, I'll be able to reach the target or at least come close.
The bigger the challenge the sweeter the reward!
earning 100 hives is a good decent amount but what makes it more fun is when you push past your normal limit, we see what we can really achieve in a year or less, hope things turn out very well for you, all the best.
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I know the 12% is pretty good, but I think you can make about as much from HP if it is curating well as many people make 10% from that plus the 2.85%. The extra benefit is that you are rewarding others as you vote. I think the main reason to be in HBD savings is if you think you will want to get the funds quickly. Distributing rewards is important to me, but I get that others have different priorities.
!PIZZA
Oh yeah true that. The good thing about HBD interest earning is that it's passive and it won't interfere with curating activities.
Well it decreases what your vote would be. I just power it all up :)
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That is an admirable goal... I think I have a little under 60 HBD in savings right now, but it was a pretty recent strategy change. Mad props! 💪
Thanks Dave. We gotta do what we gotta do.
TLDR
Don't get hacked.
Too soon?
Seriously though I bet one of these days you'll sell an NFT for 10k.
Easy.
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I can confirm that it doesn't hurt anymore
🥲
I don't know when HBD will manage to finally get pegged, but I bet LEO will be $1 in spring this year.
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Sounds awesome. I'll have a few thousand Leo available by then.
Nice goal to have. My current one this year is to have 2.4k in my saving for my custom pc. Not going quick at all so i wish you luck
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That's a cool target for the year. Indeed, 120 HBD per month looks real and very possible. You really made me think of considering my 2022 Hive goals in terms of HBD since it stable.
Cheers!