Saturday Savers Club with @susie-saver | Week 10 - Saturday 5 March 2022 | This week: How to Automate Your Savings on PeakD | Win EDS for Comments - everyone welcome!
Hello Everyone,
We have a special edition today about how to automate your savings: yes, you can do that on PeakD!
Savers have a saying: "pay yourself first". This means treating your savings (paying yourself) like any other bill and, once you have worked out your budget, putting aside the amount you have allocated to your savings first before you pay anything else.
Another saying is: "make it automatic". So once you have worked out your savings allocation, automating paying it into your savings account every month - it is paid just like every other bill! You don't have to think about it any more.
The final saying (for today anyway ๐) is: "start small and start today". Keep on reading to find out exactly how to do that.
But before we get into that, let's have a look at our NO-BUY MONTH:
March NO-BUY Month
Two posts about Rules for NO-BUY March this week: MARCH 1st | Beginning my 3rd Participation in the NO-BUY MONTH Challenge by @justclickindiva Heading for a No-Buy Month in March by @shanibeer
I'm doing pretty well already: in keeping with pay yourself first, I've transferred over another 8% of my monthly budget to my savings account, with plans for additional 12% half way through the month, bringing my total target to 20%. @justclickindiva is even more ambitious than me, with a target of saving 50% of her expenses! Thanks for taking part @justclickindiva and check your wallet for some extra SPI.
For the chance to win extra SPI in our NO-BUY Month giveaway, write a post about your NO-BUY Rules, how much you hope to save and what you will be doing with your savings. Then drop a link to your post in the comments below.
365 Day Savings Challenge
It's Week 10 on our savings plan and we've added 4.27 HIVE to @susie-savings wallet - we're up to 20.80 Hive already! ๐ค These are sitting in the savings wallet for now. When last year's savings have finished powering down at the beginning of April, I'll power up the HIVE in the savings wallet so it starts benefiting from curation rewards and inflation.
EDS for Comments
We had comments from @justclickindiva, @phoenixwren, @yeckingo1, @jfang003, @bearmol, @youyowi, @carlynn and @dkid14. Everyone went into the WheelofNames and we have a double winner: @dkid14 - hurrah! check your wallet, @dkid14.
How to Automate Your Savings on PeakD
If you have a look in your wallet and choose the option to transfer HIVE, you'll see at the bottom the option to make the transfer a recurring one. If you change the button to yes, this will appear:
To purchase EDSMs on a recurring basis:
- set @eds-holdings as the recipient
- choose the amount you want to save each week. I've chosen .10 HIVE.
- add a message in the memo field if you wish.
- choose the number of occurences. I've chosen 10 so I end up with a whole EDSM.
- choose how often you want to make a transfer. I've chosen once a week.
- press continue and, in the next window, add your active key to complete the transaction.
The following record will appear in your transactions feed:
If you click the "MANAGE" button, you'll get this:
You can see exactly what's happening, and you can cancel at any time. If you have no funds (ie no liquid HIVE), then, after ten attempts, the recurring payments will automatically stop.
This is a great way to automate your savings and steadily build your stack in the background while you are getting on with other things. There is one small bit of housekeeping you will have to do, and that is to stake your EDSM savings so they start mining EDS tokens and you start getting HIVE income. In fact, you could set up a whole virtuous circle, where you use your HIVE income to re-invest in EDSMs ๐ ๐ ๐.
Let me know what you think in the comments.
Savings Goals
We've added some more savings goals and savings posts to the table. Leave a comment below with a link if you've done a savings post or settled on your savings goals for this year - it can take a while to decide your aims, so take your time and let us know when you're ready ๐
PS check that I have your goals correctly in the table or if I've missed you
Remember for success - Start Small, Start Today
It can be any day, and it can be any day when you've had a break and want to start again.
- the best way to build wealth is to save small amounts regularly.
If you know anyone else who is interested in saving, please do tell them about the Saturday Savers Club, we love meeting people, sharing ideas and supporting each other. You'll find all the FAQs in this post and all the information about last year's progress in this post. Write a post to tell your friends and followers about us and drop a link in the comments below!
| Account | Primary Goal | Secondary Goal | Info Post |
|---|---|---|---|
| @yeckingo1 | 1,000HP | Leo Lottery | Leo lottery post |
| @wolfofnostreet | 3,000HP | HBD | savings post |
| @ericburgoyne | 3,000 INDEX | HBD | goals post |
| @jfang003 | 667.95 HBD | - | savings post |
| @justclickindiva | 15,000HP | 667.95 HBD/667.95 HIVE | savings post |
| @bearmol | 2000HP | - | new savings goal |
| @missaj | 5000HP | - | let us know when you write a post |
| @tokutaro22 | 384 HBD (computer) | - | savings post |
| @phoenixwren | Emergency fund | music keyboard | savings post |
| @lauramica | 667.95 HBD (travel fund) | - | savings post |
| @dkid14 | 10,000HP | - | let us know when you write a post |
| @riandeuk | Splinterlands 250k | 50 EDSM | 50 EDSM achieved! |
| @blezyn | 667.95 HBD | local currency (naira)? | let us know when you write a post |
| @sally-notbright | ยฃ667.95 (fiat) | - | let us know when you write a post |
| @benthomaswwd | let us know your goal | - | savings post |
| @dadspardan | 2,400 HBD | - | let us know when you write a post |
| @carlynn | 1,000 HP | 677.95 HBD | savings post |
| @alexvan | +365HP | - | let us know when you write a post |
| @youyowi | let us know your goal | - | let us know when you write a post |
| @heypuch | let us know your goal | - | let us know when you write a post |
| @omarcitorojas | 670 HIVE | - | savings post |
| @nitsuga12 | 600 HBD | - | let us know when you write a post |
| @forsakensushi | 500 HP | 50 EDSM | Savings Post |
How's your week been? Did you hit your savings target? Tell us in the comments below!
@eddie-earner content contributed by @silverstackeruk and @shanibeer. Today's post by @shanibeer writing as @susie-saver.
Many thanks to @raj808 for the banner design ๐EDS, @eddie-earner's income token, and EDSMs are part of the SPInvest family including SPI (@spinvest), LBI (@lbi-token), CUBLIFE (@lbi-token) and the @spinvest-leo account. SPInvest Family Motto: Get Rich Slowly.
Posted Using LeoFinance Beta
