This is a good list of things that we should be aware of to increase our financial literacy. I did not really learn much about handling finances in school. Sad to say, I learned from actual experience and losing money on wrong decisions, impulse buying, scams (yes, that too), maxing out multiple credit cards, etc. It was a host of losses that led me to understand the value of money and how to maximize it.
Life 🧬
Oftentimes, the realities of life prevent us from doing the things we truly love for a variety of reasons. You may live in the poorest neighborhood in the city and come from a poor family preventing you from studying at a private school and getting into expensive universities or do not have a good memory making it hard to get good grades. Sometimes, luck just runs out and you are faced with a deeply troubling emotional trauma because of a bad relationship and you feel that your world had collapsed right before your eyes. Call it challenges, hardships or even going the positive route and saying that these are opportunities. However one looks at it, we have all come across a difficult, rock-bottom situation, right?
Light 🕯
Reacting to these things can be a headache and even cause us to be stressed or even depressed, but the thing is that life is not all bad all of the time. We may be down one moment, but it doesn't have to stay that way. We can decide to do something about it as long as we are alive. We can decide to change how to look at a situation from a negative to a positive, which doesn't really change anything yet, but it can act as a catalyst for change. Motivational speakers and coaches have been preaching this for the longest time: change your mindset to change your life.
Love ❤️
So, what do you love doing? What excites you even just thinking about it? What makes your heart flutter aside from the love of your life? Finding out the answer to these questions may be the key to happiness that you can enjoy for the rest of your life.
HPUD 💰
It was a long-winded and different introduction, but it's just that we have been doing HPUDs for a long time now that I'm getting bored of writing the same things. It had started to be boring so I decided to do something unique and different from the previous HPUD posts that I've been uploading. After all, monotony is the enemy of progress and the scourge of creativity; it stifles the imagination, which I don't want happening in my life.
Having said that, I hope I'm not going overboard and you, dear readers, still enjoy this HPUD update. So going to the heart of the matter, I've powered up 100 liquid Hive for today to increase my HP from 2,518.458 to 2,618.458. Time is moving faster than expected so this amount will get me closer to my goal of reaching 3,000 HP by year's end.
As of today, staked Hive (HP) gives 3.0% APR from inflation. It is higher than the effective interest rate we get from most regular savings if we deposit our money in a bank. Looking at it from a long-term perspective, does this even affect one's retirement assuming that one had a stake of 5,000 HP, as an example.
If you have read some of my personal finance blogs before, you would have known that I'm really fond of compound interest because it makes personal finance so much easier. So, applying it to my staked HP, let's say that I do reach 5,000 HP, how much would will my HP grow in the next few years?
*5 Year Hive Power (HP) Growth Table 🚀
| HP | 1Yr @ 3%APR | 2Yrs @ 3%APR | 3Yrs @ 3%APR | 4Yrs @ 3%APR | 5Yrs @ 3%APR |
|---|---|---|---|---|---|
| 5,000 HP | 152.27 HP | 309.17 HP | 470.85 HP | 637.46 HP | 809.14 HP |
| 10,000 HP | 304.53 HP | 618.34 HP | 941.7 HP | 1,274.91 HP | 1,618.27 HP |
| 20,000 HP | 609.07 HP | 1,236.68 HP | 1,883.40 HP | 2,549.83 HP | 3,236.54 HP |
As you can see, from the table above, compounding makes sense as the staked Hive go up and as more years accumulate. This is the mindset I have going into #HPUD and the reason for staking Hive. Of course, there are reasons not to stake but I won't be discussing that today. Furthermore, this isn't even factoring the HP earned if you continue to publish and curate content on Hive; all of which have financial implications in our portfolio's growth and the strategies we use to maximize the benefits we can gain from the platform.
Conclusion
And, that's it for today's HPUD. Wishing everyone more success and blessings.
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