I was on YouTube today, and I saw a popular financial guru say savers are losers. What he was trying to say about saving money was that it will not make you any money, and inflation will also eat up your money. Some people might get this message wrong, thinking it is very bad to save, not knowing that saving is very good because it is one of the first steps you have to take when you are trying to be financially secure and free.
The truth is that saving money is very good but there is nothing in this life that doesn’t have its disadvantages and its advantages and I believe the advantage of saving money is greater than its disadvantages. This is one of the realities people don’t want to always accept, savings will give you opportunities, especially if you’re able to save a lot of money. It will help you to seize opportunities in front of you and most importantly saving will help you to make more money which should be your goal. You must save just to make more money and your savings shouldn’t be only what you spend at the time of need
Don’t get me wrong, the first money you should save when you start hanging money is your emergency fund and after you've saved up to six months' emergency fund you can now go into savings. The second type of savings is the one that you used to take a risk. This is where you will start investing your money, and this also comes with its own risk. Like I said, everything has its own risk no matter how good it may sound, and when you look at it very well it comes with its own risk.
Save and compound
If you are reading this post, you probably know about Hive and if you come across this through Google search, you’re also welcome. The truth is you must find a way to invest your money in the things that compound quickly and one of the best things you can invest your money in is Hive and this is where I’ll be posting this article. I will advise you to research it because you don’t want to invest in things that make compound interest hard. You want to invest in things that can quickly compound your money because the goal is to be financially free and compounding your money can easily set you free financially.
What you have to consider when you’re trying to use your savings to invest is how easily your money could compound. Try things that give you interest and also gives you interest on your interests. With this method it is easy for you to compound, That’s why most gurus always recommend S&P 500 but I think you should consider Hive. We have so many things that you can use out there to compound your money, you can also invest in small businesses but remember you’ve got to find a way to compound easily using your savings to work.
Lemme your money work for you
The goal is to let your money work for you because you don’t want to work for the rest of your life. You’ve got to use the money you have been saving to save yourself by putting it to work. What gives you up to 10% to 15% every year can easily set you free and this can easily compound your money. When your money grows and starts giving you interest to cover all your needs you can easily retire. This is why it is important to compound your savings. Savers are losers and that is a misconception.