Geranium and chilli plant settling into my garden room.
Weekly Savings Round-Up
Lots of excitement last week with the General Election. I didn't intend to, but ended up staying up for much of Thursday night and Friday morning, watching the results come in. I was fascinated by the ritual of it all, many areas having the count read out by people dressed in ceremonial robes from different eras of our history.
I don't think I have ever done that before, I've usually been content to go to bed and see how the world has changed when I wake up the next morning. Although I might have leftover trauma from the results of the Brexit vote - as if staying awake was a talisman that could somehow ensure the outcome I wanted.
It was clear from the exit polls: people wanted the Tories out. Various pundits say there was tactical voting and there seems to be some idea there will be further analysis of this. That will be interesting as a form of Wisdom of the Crowd - "the collective opinion of a diverse and independent group of individuals". There was a lot of good behaviour on show, a welcome change after the past few years of posh boy Bullingdon Club antics.
Labour has gone straight for the jugular with impressive organisation for its first week: the cabinet in place and meeting the second day after election; a tour of the four nations to meet first ministers; a gathering of eleven of the twelve metro mayors (one had Covid) and a promise of further devolution and a council of the nations and mayors. Individual ministers are straight into the NHS, prisons and the economy (and I'm sure much more).
There was some luck involved with a NATO summit hosted at the White House this week and an opportunity for the new Prime Minister to meet other world leaders. That would have been in the diary long before the election, and Mr and Mrs Starmer had their suitcases packed and were off to Washington.
I like the look of the Parliament: Labour has a clear majority and the power to do things; at the same time there is good representation on both the left and the right of Labour to ensure moderating influences. Already, the four independent MPs elected because of the Labour Party's position on Gaza have had an effect. Nigel Farage (to rhyme with garage) and Reform UK will be entertaining and a useful thorn in the side to prevent complacency. Meanwhile, the Tories continue what's been called their psychodrama. Well, you have to give the political sketch writers a bone.
It's been a busy week and I was so shattered after staying up all night that my weekly savings post didn't get written. C'est la vie as no doubt many people in France are saying about the outcome of their election.
Let's see what Labour can do to improve everyone's lives. Meanwhile, how is the alternative utopia we're building on Hive faring ...
(Source) I liked this illustration from a post by @gadrian. It fits pretty much with the plan for the XV token basket, too. These will be held until June 2025 when they'll be traded for HIVE and distributed to holders, ready for expected increases in HIVE price towards the end of 2025, and into 2026. Really helpful to have this long-term view and stop fretting about short-term ups-and-downs. Anyway, the whole point of this is an alternative economy and better, more equal distribution of wealth and a better quality of life for everyone. That's going to take a bit of time.
@eds-vote delegations
@eds-vote has crossed 320k HP this week with a small boost in delegations. It looks like we're heading for 350k HP delegations by the end of the year. The account is on target to start powering down 500 HP a week in about six weeks time - amazing!
Savings Goals
Let's see how we're doing:
| Asset | Goal | Start | Last Time | Today | Progress |
|---|---|---|---|---|---|
| Hive Power | 115,000 | 100,400 | 120,111 | 121,311 | 105% 💪 |
| EDS | 4,600 | 3,299 | 4,028 | 4,113 | 89% |
| HSBI | 1,000 | 741 | 970 | 984 | 98% |
| HBD | 10,000 | 5,374 | 5 | 10 | 0% |
| EDSD | 1,000 | 128 | 1,835 | 1,840 | 184% 💪 |
Progress
- EDS, EDS-VOTE, EDSD - I moved my HBD savings into EDSD - it makes sense while HIVE is so low and so many more EDS are minted for the same HBD interest. I'll continue to buy EDSD with my earnings from my side-hustle and posting. (More about side-hustles).
EDS eco-system breakdown and model
EDS Income Token | Fixed and Variable Savings Plans
EDS Dollar (EDSD) Release Post
Blogging - I did a few calculations about potential income from blogging. I reckon it would bring an income of about 775 (855 with interest) HBD and 3,575 (3,731 with curation and inflation) HP a year.
Saturday Savers Club - 2024 Launch and FAQs. Over sixty registered savers now. Anyone can join at any time by commenting with their goals on the weekly post on the @eddie-earner account (also follow @eddie-earner for news about EDS). Our first subscription savings plan is on point too with the fourth round distributed at the end of June.
HSBI - HIVE basic income - I'm growing these through sponsoring HPUD and other challenge posts over on Saturday Savers Club. I was chosen for the Saturday Savers Club Savers of the Week post, so that was a nice boost to my SBI. Thank you!
What's New
I thought this was an interesting post from spinvest about Where do you rank on the seven levels of financial freedom. I always like these sorts of tools as a way of evaluating where I'm up to and next steps.
It's interesting to think about where the house up-do fits into that evaluation. I was startled this week to get the interim valuation (cost of work to date) and discover that the original job is pretty much paid for and I have a new boiler which was an additional unexpected expense. Also pleased that I have the cashflow to cover the costs and the various decorating and flooring expenses that will follow. The house has been modernised and upgraded, and I'm really enjoying living in it, even in its dilapidated chateau look.
On the one hand, my emergency fund is depleted and I have some debt it will take me a year to clear; on the other hand, I have invested in upgrading my home, it is much more comfortable and convenient and I have increased its value. The unknown quantity is the car - can it last another year? That would be good.
Have a good week everyone!