Confession. I withdrew my first earned HBD, I don't remember how many it was before I found out about the 10% interest on saving.
For the next ones, I decided to leave behind 10% of every HBD I accumulate before I do anything I like with the rest. I did the same thing to the hive engine tokens like POB, DREEM, and LEO. For POB and LEO, I staked their 10%. I leave behind DREEM, noting down the numbers in my diary so I don't make any mistakes.
The idea of saving 10% of all my tokens comes from reading this book, "The Richest Man in Babylon". The author said, " a part of all I earned is mine to keep" And he is right. The rest of the 90% will inevitably go to other persons. This is reality. 90% will go for rent, food, gas, transportation, guilt-free spending, etc. All of these goes into other people's pockets
However, my 10% stays mine, waiting to be told what to do. I feel like a master right now, with my HBD and other hive engine tokens being my slave. The difference between this slavery and any other one is that it will help me reach financial freedom.
Initially, I didn't understand why I had to save when the internet keeps saying, "I can never get rich through savings". It's with great joy in my heart that I want to share with I found the bigger cause.
After much digging and reading as many books as I can on finance, I found that even though I want to be financially free so badly, I need to have funds to do that.
This means savings is good at the initial stage of my journey. With savings, I can jump on any investment opportunity, after doing my research. With savings, I can comfortably tackle the rest of my financial journey.
Since I will not get wealthy through savings rather through investments, I'll have to use my savings to step up this goal.
I understood I may not have any money to jump on investment, so, I have to save. I understood opportunities may pass me by if I don't save.
With this in mind, I figured, savings is good.
In order not to digress, I decided to save 10% of my HBD, in the initial stage I didn't know what I'll be doing with it. I just wanted to start. Starting is better than waiting until I understand everything before I do. Time is a major factor when it comes to wealth creation.
Moving around Hive, I found people saving their HBD towards a purpose. One individual I know is saving towards buying his own house. The other individual is saving towards her children's education. I know there are lots of people saving towards other goals. I may not get to read them or they might as well not be sharing them openly.
The ultimate goal for everyone is saving their HBD because the 10% interest rate beats the interest that our brick-and-mortar banks are offering. To think that they might charge you interest on top is disheartening. With Hive, the story is different. We have the privilege of saving, earning interest, and then, withdrawing without paying extra fees for any of this.
I remember someone else wrote that saving our HBD is good in the sense that, it takes three days to be withdrawn. Why he said this is because if you had lots of HBD to exchange to Hive and jump on whether a pump or dip somewhere, it's getting easier with your HBD. Instead of waiting for the 7 days/13 weeks window for unstacking Hive. I agree with him
I don't know if you simply understand the magic of saving your HBD yet. Recently, as I paid more attention to this particular hive token, I discovered, it's kinda stable. No matter how much hive goes up or down, HBD stays stable. So, anyone looking for stable coins can buy into this. Anyone looking for where to keep his money to beat inflation has HBD to the rescue. Amazingly, you get to earn interest during that period. Cool, very cool.
I am yet to attach a purpose to my saved HBD yet. All I know is that this 10% is mine, and the feeling of owning something that doesn't belong to another is such a big feeling for me.
Today, when I looked at my wallet, I saw roughly 16HBD in my savings. This made me realize that I have earned 160HBD in the last 4 months of being here. This is the beauty of everything I have talked about. The fact that I can stay accountable to myself, and everyone here. It feels good. By the way, I appreciate the community for their support, I wouldn't have come this far, without your endless support.
With this, in a few years, I will look at my savings, and know in actual numbers, how much HBD I have earned, and then keep earning interest on them.
Most importantly, you ought to know that the percentage has gone up, we are currently earning, 12% interest, you should get in now. It's never too late to start. A small amount will go a long way tomorrow, it's the beauty of compound interest after all.
Image edited with canva.