My Hive Savings Journey: Patience Finally Paid Off

If someone asks me about the best financial decision that I have taken so far, then I would say learning to save my earnings instead of spending them as soon as I received them. To be honest, saving money is not my cup of tea because I'm impatient, so I didn't know how to save up. After joining Hive, I did not think that I should be saving up the money. Because, in real life if I had extra cash then I would search for something to spend on. But when I started using Hive regularly, after months it enlightened me, that I should save up the small amounts and I can later use it for something important.

Okay, so I started to save in HBD instead of keeping my Hive as Hive. I stopped withdrawing since last year and in the midway, I was gone for a while but when I came back I still did not withdraw my Hive. I decided to add my Hive into savings every 2-3 days later. At first, the amount was small, and it didn't seem like much. Of course, I felt tempted to withdraw it because the portion was short. Still, I kept giving reminders to myself that I will need those savings for something important in the future so I kept going.

Like I said my last withdrawal was last year. Since then, I have continued saving instead of cashing out whenever I earned rewards. Recently, I have got some urgencies and finally made another withdrawal and it was more than 3,000 Hive. To be honest, I was feeling good that amount made me feel proud. Because I really needed this at this moment and it's coming in help. So, finally my patience and discipline had paid off. But I will give you guys a reminder that reaching a financial goal doesn't always require a huge income. You just need to stay consistent, that's all.

So, my experience on saving HBD on Hive is the only thing that changed the way I think about money. I understand that saving does not mean I'm comprising it means I'm making a smarter decisions for the future. The choices I make today, can help me achieve something more valuable tomorrow.

I have to save again, because my goal is not completed yet. I need to fulfil this important goal of mine and every reward I earn on Hive brings me one step closer to it. If I think about the past time then I would say choosing to save my HBD instead of spending it immediately has been the best financial decision I have ever made.

The biggest lesson I learned that your situation will not always stay the same and you never know what will happen next. Also, keep in mind that financial success is built little by little. As soon as you start savings it may look small and not impressive but over time they can grow into something that makes a real difference. So, this decision of mine has taught me self-control, consistency and patience.


This is my entry to a contest of indiaunited, I would love to invite you to participate!


The pictures are created with chatgpt.


Thanks for reading 🌷

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Thank you, I'm heading towards to my next goal!

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You're welcome @zoe01. Looking forward to you reaching your next target 😅

BTW, support and vote for our witness.
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Excellent!
Congratulations!

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Thank you very much, I really love to read your comments on my post. I appreciate it ☺️

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I have never withdrawn any Hive since I started here, but rather have powered up everything I earn everyday. It gives me more voting power and therefore I earn larger curation rewards. I'm glad your strategy has worked out for you!

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Powering up daily is a great way to grow your account and it's awesome that it works for you! However, I have to prioritize being able to withdraw quickly for emergencies so keeping funds liquid is a must for my situation so I can't afford to lock everything up and wait weeks for a withdrawal when an unexpected expense comes up.

It’s awesome to see how much it has boosted your voting power and curation rewards over time. Thank you for sharing 😊🫶🏻

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Learning to save it's part of maturing financially

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Of course it is, thanks for your valuable comment.

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Savings in hive wallet have good apr for hbd, but for hive i don't know, if any is there.

Sometimes is just better have hive in stake currently over 5% apr + curation rewards total 10%+ apr. Is more easier to get new friends, when you can reward well people with hp.

When you know that you need money you can make power down, of course is not 3 days like from savings its 3 months, in 13 transactions, but you don't need use full power down, sometimes 1 or 2 is enough for what you need.

Another thing you said about saving a year, so you had enough time to make decisions.

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Staking definitely has its perks but the 3-month power down window is the main drawback for me. When life happens and you have an emergency, you need cash right away. You can't tell a crisis to wait 13 weeks. Everyone's financial situation is different and some of us just need that immediate liquidity.

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Yeah 13 weeks is a lot in crypto world, so is good to have other sources of income, especially, when hive is on all time lows.

So savings with hbd is not bad option with apr and more stable price than hive.

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Thanks for the continuous support 🫶🏻

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Really enjoyed this post. It’s so true that holding back from cashing out is the biggest struggle, but having those savings ready when you actually need them makes it all worth it. Awesome work, keep stacking those rewards!

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Yes, of course. I made the right decision that's all I know now, hehe. Thanks for your kind words. 😁

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Once one masters the act of saving, some of the regular financial problems leave the system. Saving help us to make good use of our money... Imagine saving to buy something tangible, imagine using the saved money to sort out a critical emergency.🫡

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It's true, I'm glad you understood my points. Thanks for passing by!

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Thanks for the continuous support 🫶🏻

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You’re awesome, Zoe. I am proud of you and I hope hive savings keeps coming through for you.

From this post, I’ve also learned that some saving goals we think are not possible are in fact attainable. Usually, I withdraw sometimes to save outside of hive, especially since HBD payouts stopped. But maybe I should consider on chain.

Were you converting your Hive to HBD? I thought the conversion fee was significant?

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(Edited)

Aww, thank you so much love. I appreciate your kind words.

It's free on ecency you can swap your hives to hbd easily. I don't know about other frontends.

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You're welcome!

You're such great help. Thank you, too! I'll use Ecency.

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