Foreword
Good day to all. Another month has passed and it's time to take stock of how things are in terms of my savings on Hive. Today I also would like to kick start a new personal saving challenge.
2024 Goal
Before I proceed further, let's recap the savings goal I set for myself when the year started.
| Power | Start | Goal | Now |
|---|---|---|---|
| Hive Power (HP) | 5000 | 9000 | 5749 HP |
In my March update, I reached 5749 HP. Today I have reached 6107 HP with a delta to main goal is 2894 HP, with about 8 months to go based on main goal timeline and 7 months to go based on secondary goal timeline. To achieve my secondary goal, it will mean that I in the remaining 8 months, I will need to continue to try to hit 400HP per month in order to be able to meet this target. Pass few months have been closing in the range of 350HP-ish.
Performance to Plan
Layer 2 Token Management
It is important to review my sources of layer 2 tokens that increased my liquid Hive and SWAP.HIVE and started planning to get them into a better state for better passive drips.
Liquid Hive Sources:
Holding EDS tokens- The amount I have yields me 0.04 HIVE per week.
Holding DAB tokens - The amount I have yields me 0.004 HIVE per day.
Holding SIM tokens - The amount I have yields me 0.015 HIVE per day.
Holding BRO tokens - The amount I have yields me 0.006 HIVE per week.
This totals up to 0.179 HIVE per week an increase of 0.057 HIVE per week as compared to last month.
SWAP.HIVE Sources:
Staking DRIP tokens - The amount I've stake yields me 0.0013 SWAP.HIVE per day.
Holding BBH tokens - The amount I have yields me 0.00038 SWAP.HIVE per week.
This totals up to 0.00948 SWAP.HIVE per week. There is some increase but not very significant.
These figures are not exactly needing moving like my buddy always says, but things are actually movings towards a very stable passive. And to note, most of these tokens continue to grow based on some of the other tokens that I own. Else I can also repurpose some of the tokens into the tokens mentioned above to build up the passive. A near term achievement that I would like to achieve is to hit 1 liquid hive per week which is actually really awesome and then progressively to even fund for a guaranteed power up for Hive Power Up Month. With some layer 2 tokens sitting there and not generating anything, why not repurpose them?
Curation
This is one important aspect of gaining HP and working towards my goal, not only do we get HP from curation, we also gain layer 2 tokens which again can be repurposed as mentioned above to more valuable passives.
Writing
Contributing to the community is the best way to increase savings. Sharing good content to the community not only shares knowledge but also gets rewarded for the time and effort to prepare the content.
5 Dollar Note Saving Challenge
Today I bring to you a new personal challenge that I would like to start on my end to see how much I can save up into a small coffee fund by a small alteration of how I handle my cash.
This challenge is called the 5 dollar note challenge where every 5 dollar note that come back as change from purchases or from any sources given to you to be stashed away (away from your wallet or pouches that you will tend use money from).
Yes, this is a simple challenge. But something to observe is that, we should not stash the 5 dollar note but end up having to go to the ATM machine to draw out more money because we are out of money to spend for daily necessities. This saving is to help you to have less "spendable" cash.
You can also do this on different denomination of notes but my suggestion will be to do this challenge on something that is not too small like small changes or something that is too big that inhibits your daily expenditure. For my country Singapore, the 5 dollar note is the 2nd smallest denomination of notes that is available.
This challenge will need a little discipline to make it successful. Let's discuss how much I've accumulated in the next update on my savings update. If you would like to embark on the same challenge, share with me in the comments and let's encourage each other to enjoy the challenge.
Closing
A quarter had just pass us by so quickly, need to continue keep focus on the goal so that we keep ourselves on track. But at the same time, enjoy the fun of saving and not become grumpy over the goals. If you have attempted the 5 dollar note challenge before, share with me your journey as I would love to hear your journey.
Saturday Savers Club
What is Saturday Savers Club?
The Club is a supportive group of people who meet up around the weekly post, usually on a Saturday but occasionally on a Sunday, to share tips and techniques and have some fun in the process. Saving is a skill that takes time and practice to acquire and, like learning any skill, doesn't always go the way you planned.
