Hello everyone. Welcome to another week with this amazing contest organised by @okere-blessing. I’d like to take this time to appreciate here, and go ahead to share my thought with you here.
Saving is the method of putting aside some money for future use. It is about setting aside money for something that wants to be achieved in the nearest future.
What is your preferred savings method, give your likes and dislikes about the method that you choose.
Lately, I have come to like the digital way of saving and saving for good. Let me tell a backstory, a few days back, I was discussing with a friend how the digital space was making things easier and easier by the day. One of those ways was making a way to save enjoyably.
A few days back, another friend of mine was qualified for an airdrop worth $9, just three days after, it was up to $12. She said she was not going to touch the money, and that was her saving.
With this, I prefer saving in assets. I save my money now when I can invest it in a good way. It does not necessarily have to be buying a coin, but also saving in real estates, and other common farm produce like palm fruits and palm oil.
Increase: One of the good things about money saved in assets is that it keeps pumping in more funds for the owner. Let’s be real, it depends on the kind of coin being invested in. but whatever the con may be, there are always times for bull run, and it happens to be one of the sweetest times for people who have their money saved in assets.
Security: The block chain network of these platforms has made it safer for its users to navigate. Access is had only by the owners of these accounts who have their passwords saved somewhere and known only by them.
The traditional banks have lost some power in this area. People could easily manipulate account owners and wipe off their money in a twinkle of an eye.
Self-monitoring: The accounts in assets are easily monitored by the owners. I know of somehow who monitors the price market for her coins as if her everything hinges on it.
One can know how much they have, and probably what to expect in days to come.
Charges: there are no maintenance charges applied to this method of saving. The only charges applied is the one that is taken when some funds are being transferred.
Instability: The market price of most, if not all, coins are always fluctuating. As the markets keeps rising and fall, so is the heart and expectations of the people that save in these assets.
Mental health: Many people cry, get sad, scream when the unexpected happens to their money being saved. This is a serious concern to how their savings can affect their health.
Loss of account permanently: I can remember when I had issues accessing my Steemit accounts many months back, it was not a funny experience.
I knew all my efforts and money were gone, simple because I couldn’t find the right key to have access to my account. Thank God, I recovered it at the end. But many people who forget their keys, passphrase, and passwords do not just lose their accounts, but also their funds in it.
The saving method I would ask someone to go for is saving in real estate. Land never depreciates, rather, it appreciates all the time. When you find a faithful realtor who is willing to save your money in lands, then it’s a big bonus to the person.
I believe in savings, and savings can help a whole lot. It may be difficult for a student as me to save, but it’s necessary if I don’t want to be stranded on the way.
The only bad experience, if it’s bad, is sing up my money when it’s not even time to use it. It’s even worse when I keep it myself, or in my bank. Saving in the bank is like saving in my home. With my ATM card, and the bank code, transfers can easily be made to spend my money on anything.
With this, whether current, savings or fixed method of saving is not an option for me now, but in assets.
Would like to invite @josepha, @gracyakan and @chiomi to participate in this contest.