HBD Savings Progress Report - Month 2 - February 13. 2023

avatar

month 2 hbd savings progress report.png
Created with Canva Pro

HBD Savings

Another claim has been done today and that means it's time for my monthly HBD savings report to keep track of the progress as well as compare it to last month's end result. I was a little worried this month as it first seemed as if I was able to earn as much as the first month in liquid HBD but it seems that the difference was not that big in the end. I have continued to add all my liquid earnings in HBD into my savings account as soon as I could claim them. Let's see how I did this month.

Happy interest claim day!

Let's compare month 1 and two here. I ended month 1 with this number:

image.png

So including the claim, a little less than 88 HBD was in my savings account after 1 month of saving. Today, I could claim again and this is where I'm at after exactly 2 months into saving all my HBD earnings:

image.png

This means that I earned 76.293 HBD in liquids this month, granted it's a little less than month one but I will try to up it this month. The thing that stands out most to me is the fact that I didn't even double my savings, but I did almost 4x the interest amount I could claim the second month. I went from 0.566 to claiming 2.062 HBD this month! I guess this is the power of compounding at work here.

image.png

Hive and HBD price and start of month 3

After claiming my interest today, this is where month 3 starts:

image.png

Can't say that I'm not happy with this, in fact it's very motivating to aim for 100 HBD extra in savings this month and see how that reflects on the interest I can claim after month 3 has passed.

image.png

And funny to see the price of Hive is a little more than 5 cents higher compared to a month ago, which we know pumped recently. The HBD price is more or less the same.

Great motivation

I don't think I will need these savings anytime soon and I really aim to fill these savings for the rest of the year at least, but preferably even longer to enjoy the real power of compounding for a much longer time. Ideally save up for several years and see a nice monthly passive income from the interest rate.

Have you been saving up your liquid HBD since the 20% interest rate was implemented?

Posted Using LeoFinance Beta



0
0
0.000
10 comments
avatar

Look at you go! Very nice increase in your savings. That's almost 2x! I started working on powering up my Hive versus putting it into savings. Once the prices move a little I will start stacking my HBD again. I get about 100 a month that I roll back into my savings account.

Posted Using LeoFinance Beta

0
0
0.000
avatar

Yeah, it's that I missed a few days posting anything that caused me to not exactly 2x it I think but I will aim for a little higher this month as seeing the interest from the second month was a good motivator. For that little amount, 2 HBD interest is not too shabby, is it?

I was curious so I checked your savings, you have done very well saving up there! And seeing the interest you earn, that's exactly where I'm aiming for at some point maybe getting 100 HBD a month and see it grow even faster..

Currently I'm not putting everything I earn in there though, only post earnings in liquids because we yet have to buy a car and until that's behind, I will pull out some of my weekly earnings to the bank as it will help us pay for that. It will be second hand but every 100 bucks I can add gives a little more opportunity :)

To be honest, compared to other things that I put some extra money in weekly, I think HBD is actually the smartest of them all to put it in. Meaning with earnings in there I'm not scared that it will drop 20% over night lol.

My goal for 2022 was 5000 HP, didn't make it, but I'm letting that grow organically by my earnings, instead of swapping HBD for it.. I'm sure it won't take too much longer now :)

Thanks for stopping by!

!PIMP

0
0
0.000
avatar

My HP growth really suffered because I was going so hard into HBD. Once I hit that 6000 HBD goal to start earning me 100 HBD per month, I moved back to focusing on my HP. My next HBD goal is 12,000, but I am willing to put that off to grow my HP more.

0
0
0.000
avatar

That sounds so nice, 100 HBD monthly!

I just realized that it's not even that unreasonable for me to aim for that goal of 6000 HBD either, I could (if not needed elsewhere) add 600 monthly in there so that's "just" 10 months of doing so. Minus the earnings from posting so a little faster even. But that's only if not needed elsewhere. Food for thought, I first saw your savings and thought it was a long way to go, but sometimes things are not as hard as they seem lol..

I added 90 of my weekly earnings today to savings instead of moving it to my regular bank :) a good start :)

Thanks for the inspiration!

0
0
0.000
avatar

Yeah, it honestly didn't take too long. I think I moved some funds from another project in there to boost me too. Plus as you start compounding you might be able to cut that down to 8 or 9 months.

0
0
0.000
avatar

Yeah I just mentioned it to my boyfriend, I think I will aim to move the funds there from now on, if I need to use some, I will just pull it out at that time, but I know myself, once it's compounding, I will try to avoid it at all costs lol. Even the idea that it can be 50 monthly in 5 months or so is very appealing, heck even 25 would already be sweet :)

0
0
0.000
avatar

I know a lot of people that took their HBD out of savings when the price of Hive dropped down below $.40. It might have been a smart move, but I just can't bring myself to do it!

0
0
0.000
avatar

No, I let my HP grow by post earnings as it's just not as appealing to me as adding a big bag of HBD savings first. I could even use the interest to add to HP from time to time if I want to. I think I will focus on HBD first and take it from there. LOL

0
0
0.000