Saturday Savers Club is for anyone who wants to save in any currency for any purpose. The Club is a supportive group of people who meet up around the weekly post, usually on a Saturday but occasionally on a Sunday, to share tips and techniques and have some fun in the process.
Saving is a skill that takes time and practice to acquire and, like learning any skill, doesn't always go the way you planned. Saturday Savers Club provides a framework that you can use to help you on your way, as well as tips and a process to provide or support the skills you need to design and manage your own savings plan.
There are numerous ways to save with the Saturday Savers Club.
Here we talk about just four options.
Number 1 HP - Make a Minnow
Over the course of a year, you could become a Minnow with the Saturday Savers Club by following the Penny a Day Challenge. This starts very small and easy by saving 0.01 HP on Day 1, 0.02 HP on Day 2 and so on right up to 3.65 HP on Day 365.
All you have to do is follow the Challenge along with the @susie-saver account and by the end of the year you will have saved 667.95 HP, becoming a Minnow (573 HP) along the way.
You'll meet lots of people in the Saturday Savers Club and can take advantage of the collaborative purse - where you support each other with comments and votes on your weekly savings posts.
You may be able to get support from the @tenkminnows account. Check this post by @steevc to find out more about it.
We know lots of new users struggle on Hive - many savers have said that the Saturday Savers Club helped them to find a focus for being on Hive and kept them here.
I don't have any money/a job/I have health expenses
Lots of Hive users are not having an easy time and are using HIVE and HBD to cover essential costs like food and housing. One way to gradually improve your economic situation is to slowly build your HIVE account: perhaps only withdraw 90% or 95% of weekly earnings to support yourself and leave the other 5% or 10% to gradually accumulate.
Number 2 HBD - Build an Emergency Fund
An emergency fund helps you over the bumps in life and makes sure you have a little put aside when that rainy day arrives. You can follow the same Penny a Day Challenge to gradually build 667.95 HBD over the course of the year. Plus 20% interest - what's not to like?
This is a bit different to long-term savings for the future: it's about making sure you have a little nest egg you can dip into when you need to. Some savers have used their emergency funds to cover unexpected expenses, or when they know their regular income won't cover all their outgoings and some have used it to help other family members.
You might like to try the 52 week Savings Challenge - HBD Style written about by @elianaicgomes. No harm in being part of two supportive savings communities is there now?
Number 3 EDS
EDS is the primary savings and income token on Hive. Tried and tested, EDS has built its reputation and its income over the past four years. It has a 20 year-plus growth plan and currently provides an income of about 27% APY.
There is planned APY decline over the next 3-6 years, when the fund will flip and the APY will start increasing forever. This is because the number of EDS is limited to 500,000 but the EDS fund can earn HIVE indefinitely.
There are numerous ways to start saving and accumulating EDS:
Buy EDS and EDS miners on the market
EDS and its two miners, EDS Miner (EDSM) and EDS Mini-Miner (EDSMM), can all be bought through the market using Hive-Engine and the other DEXes. Prices vary, but it's a reasonably fast way to build your EDS stack.
You could use the Penny a Day Challenge or you could set a weekly budget to purchase EDS.
Delegate to @eds-vote
You can delegate to @eds-vote and receive 4% APY in EDS tokens. For example, for every 100HP you delegate, you'll receive 4 EDS tokens each year, which in turn are currently paying 28% APY and will continue to provide an income forever. (New EDS are pegged to 1 HIVE, regardless of the price in the market).
Start small with 50HP and gradually build your delegation each week or month over the coming year.
The extra benefit to delegating to @eds-vote is that it helps to build the EDS fund by adding 50% of curation rewards each year. This speeds up the time when the EDS APY will flip and only ever increase.
It's in the interest of all EDS holders to delegate HP to @eds-vote and bring forward the APY flip so that the APY only ever increases. With 150,000HP delegated, this will happen in about three and a half years. With more HP, it will happen sooner.
Buy EDSD from @eds-d with HBD
Launching this year, especially for Saturday Savers and open to all, you will be able to buy EDSD, pegged to 1 HBD, directly from @eds-d. All HBD will be put in savings to earn 20% interest. Each month the interest will be withdrawn and 50% distributed to EDSD holders weekly as EDS tokens (each one pegged to 1 HIVE).
When you want to sell your EDSD, you send your tokens directly to @eds-d and receive your HBD back - I'm going to say within three days to allow for the withdrawal period, but it may be faster than that.
This option offers great flexibility and the opportunity to accumulate more EDS when the HIVE USD price is low. It's easy in , easy out.
Delegating to @eds-vote and buying EDSD are low risk options with no DEX fees.
You can read more about EDS fixed and variable savings plans in this post by @shanibeer and about building an EDS stake in this post by @hoosie.
Number 4 SPI
SPI is the premier investment and growth token on Hive. Starting from a seed fund of $13,000 and 100,000 tokens, it has grown to $144,284 (that's right: 11 x in a bear market) with more than thirty different investments.
The main purpose of SPI is growth in the value of the token and there are some exciting plans for the next bear market with the potential for the fund and the token value to triple in size. You can keep up to date (and contribute to the discussions) by following @spinvest.
SPI also pays out a weekly dividend in liquid HIVE. This is equivalent to about 8% APY. It's a nice bonus but isn't the main purpose of SPI, which is growth in the value of the token.
A major feature of SPI is its 95% buyback guarantee. This has been used to cover very large buybacks (11,000 SPI) in the past and is a great option when there is low liquidity in the market.
This year, 300 SPI have been set aside for Saturday Savers Club members with 25 tokens released each month. This is to allow long-term savers who want to build their SPI stack, especially new SPI holders, to do that gradually over the course of the year.
Lots to choose from to build your wealth over the coming year. Which one will you choose or do you have other ideas for your savings plan?
Today's post by @shanibeer.
Many thanks to @raj808 for the banner design 🙂
EDS, @eddie-earner's income token, EDSMMs and EDSMs are part of the SPInvest family including SPI (@spinvest), LBI (@lbi-token), XV (@spinvest) and the @spinvest-leo account. SPinvest Family Motto: Get Rich Slow.