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The Saturday Saver's Club goal is to teach people about saving and they give weekly tips about how to save more money. In their most recent post, they have added a new contest and I am using it to catch up with my two Saturday Saver challenges.

This SPI, LBI and CL Bonanza Challenge by @eddie-earner wants you to write a post about saving and use the #saturdaysavers tag. As I stated before, I am taking the chance to get up to date in my current challenges.

Saturday Saver Challenges

As of right now, I know about two different challenges. The two challenges are about increasing your amount saved by a consistent amount each day for an entire year and doing the exact opposite. My regular Saturday Saver's challenge and backward Saturday Saver's challenge. To separate them, I am moving HBD to my HIVE savings for the normal challenge and to power up HIVE for my backward challenge.

Regular Saturday Saver Challenge

Well I did link to my post in the previous section and I was actually behind by quite a bit. As my life got a bit busy, I ended up being late to do my daily adds. On one of my bulk adds to catch up on the challenge happened to mess up because I missed a 0.

I had a little bit of time last night before I went to sleep so I took out my spread sheet and decided to check how much I needed to fix my error as well as to update how far I progressed.

So according to the spread sheet (made another math error), my current day would be day 84 out of 365 and the total is 3570. Since each little add is 0.001 HBD into my savings, the total amount in my Savings should be 3.57 HBD.

With the recent changes to the Node Witnesses HBD interest rate, the interest I receive on HBD is now 7% a year. According to this post about HBD and in the comments section, he even states that only HBD in the savings would receive this interest after the next Hard Fork.

So in other words, holding liquid HBD will not net you any benefits. You can either decide to swap it into HIVE or put it into your savings to receive interest. I am mixed on HBD but I do believe that if it succeeds as a Stable Coin, we will definitely see many benefits to HIVE and 7% APR is better than anything you get at a bank right now.

Saturday Saver Backward Challenge

As I stated in my backward Saturday Saver's challenge, this challenge was to power up HIVE backwards from 1 HIVE all the way to 0.01 HIVE on the 100th day. To catch up, I decided to power up the 25 days I was behind below.

With that, I also decided to update my spreadsheet to update my progress. With this, I only have 35 days left in the challenge which is about 7 weeks.

Some people may be wondering why I choose HP but I feel like it generates more returns than HBD right now and has more use cases. Hive currently has the following use cases.

• Resource credits (any action on the block chain uses this)
• Curating content (both you and the voter earn when you vote with your staked HP)
• HIVE engine tokens (you can move your HIVE to HIVE Engine and buy dividend tokens like EDS, SPI and INDEX)
• Delegation (if you want others to vote and return HIVE or HIVE engine tokens in return)

Conclusion

I am saving up part of my earnings on HIVE and they will also be working as a passive investment. Even if you only add in a small amount, every small bit of investment has the potential to be worth a lot more in the future. As I had the reserves available, I did an add to catch up to date on my challenges and I believe that this will pay off in the future.

Please feel free to leave a comment if you have any questions or feedback.

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