I have learned from #HiveBloPoMo, the Hive Blog Posting Month Challenge that today is International Financial Awareness Day and it is observed every April 25th. Perhaps part of the challenge for this day is to share money-saving tips.
Are you also like me who wonders every day where the money I earned goes? It is like having a bill that automatically changes into cents of coins.
Back when I was employed in a private institution after graduation, it seemed like my life was all about paycheck to paycheck. I admit that I was once like that wherein my salary only supported my daily needs and my parent’s needs, not to mention that sometimes there were those moments when I fell short even before I receive my salary.
I have also experienced those times when I have spent much and do not have enough money to buy my needs and there were even times that I have to call my friends for money. They were there for me, but I do not want to repeat it over and over because of money mismanagement.
I must say that it was very hard to fall into this complex situation. I cannot imagine myself if I always repeat the process over and over without thinking of a solution to how I can escape from the trap. And all I could say is I do not want to go back into the same trap again especially borrowing money from others.
This also happens because most starting jobs had the minimum wage or a little more than the minimum paycheck. So when I know that I am only earning a minimum wage, I am only allowed to spend to my limit. But since I am living in the province since I was young, I have a lot of fascination with things I have not experienced there, and since I landed in the city, I was always tempted to buy more of my favorite foods and my obsessions.
My overspending was usually triggered by buying foods and stuff that interested me, most especially dining in and out in my favorite fast food chains. I am near my favorite food chain so I was tempted to buy every time. Looking back, I never knew more about life than my bad spending habits, spending limits, financial literacy, and the like.
And when the moment knocked at my door, I saw an opportunity with a higher income and I saw a greater challenge that this problem must be resolved. Eventually, I reduced my food chain and restaurant hunts and I simply bought food at cheaper stalls or even cook at home. I was happy that from then on, I was able to manage and monitor and control my expenses.
I learned so much from tracking my expenses. Through it, I knew where every cent of my money goes and I noticed that it was the best way to reduce my expenses as it always encouraged me to spend only within my limited budget. I have learned how to control my overspending.
Apart from tracking my expenses, I am also tracking my savings just like what I am doing every day in the 365 Day Savings Challenge as I am tracking my daily savings with Hive Backed Dollars and Hive.
Here is the spreadsheet I used in tracking my savings and up to this moment I was able to save both in Hive and Hive Backed Dollars.
Own pictures edited in Canva
In January, I saved a total of 4.96 Hive and 4.96 HBD. In February, I saved a total of 17.7 Hive and 17.7 HBD. In March, I saved a total of 40.95 Hive and 40.95 HBD. And in April up to the present, I have now saved a total of 66.7 Hive and 66.7 HBD.
Since I started joining the Saturday Savers Club, I was motivated to save and track my daily savings through a spreadsheet.
By looking at my Hive wallet, it is exactly 66.7 Hive savings and 67.763 HBD because of the interest rate. Hence, the daily saving for my 365-Day Savings Challenge is now becoming a habit.
I must say that it always feels so good to be surrounded by like-minded people in my circle of friends in Hive. I believe it would not be possible without them inviting me to join the circle the moment I joined the group, I was even motivated to try harder so I could achieve all my goals.
My Hive earnings had become a passive income for me. I am not withdrawing my earnings all at once because I have a long-term goal in the blockchain. Instead, I am saving the rewards that I get on Hive. I also use my rewards to buy tokens, power up or stake Hive Power every day, join the Hige Power Up Day, and use it for the LeoFinance community to buy and stake LEO tokens every 15th of the month.
I once came here to Hive with nothing, and now, I am having a little of my own as I grow from a wee fish little by little.
Perhaps tracking the money I spent and saved both in the real world and on the blockchain surprised me.
Disclaimer: This is not financial advice. All texts and pictures are my own unless otherwise stated.
