Contest: A Penny Saved, is a Penny Earned

INTRODUCTION

It is important to earn, spend and save each of our penny because these actions contribute to accumulation of wealth over a period of time. The idea behind 'A PENNY SAVED IS A PENNY EARNED' is best described by the significance of saving what we've earned by putting it aside and not spend which is a wise financial decision to make. This is more like encouraging us on the importance of saving money and how mindful a person should be while spending so to be frugal and effectively preserve over time.

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UNDERSTANDING THE WORD "SAVING"

Saving simply means the act of setting aside your earnings or any other resources over time for future purposes (investment, needs or emergencies) instead of spending it immediately and achieving long-term financial goals. From my observation, steemit is one of the best place to save our income because it gives room/ access to earn more while saving.

How We Can Save Our Earnings on Steemit
It is very easy to save our steem on steemit; when post has been paid out, the next step is to transfer our liquid steem to steem power by converting it through a process called power up.

REASONS WHY IT IS IMPORTANT TO SAVE STEEM EARNINGS ON STEEMIT

Saving our steem earnings is very much important for the following reasons;
Financial security: saving earnings contribute to financial stability which helps in navigating unexpected life's events like; emergency, reduction of need to relay on loans and unforeseen circumstances.
Value: saving steem on steemit will not only create opportunity for financial freedom but also add value to the platform and its users.

Peace of mind: there is this inner peace, less stress/ anxiety that comes when you realize that there are savings in your steemit wallet.
Interest and investment: savings can generate additional income in a long run which can contribute to financial growth and more wealth accumulation.

HOW TO BALANCE THE EXCITEMENT OF EARNING STEEM ON STEEMIT WITH THE IMPORTANCE OF SAVING FOR THE FUTURE

Balancing the excitement of earning steem on steemit with the importance of saving for the future requires applying a thoughtful strategy or approach which involves the following;

1. Setting a clear goals on how to contribute positively and also earn on steemit which will help in you focusing the excitement into purposeful servings.
2. Knowing how to prioritize needs over wants will go a long way to differentiate between discretionary spending and essential expenses.
3. Balancing excitement of earning with the importance of saving requires proper education in understanding the benefits of interest and different investment options.
4. Celebrating each step makes the journey easy and enjoyable to achieve ( example; dolphin celebration🐬 ).

MY LITTLE POWER UP TO SHOW THAT A PENNY SAVED IS A PENNY EARNED (BEFORE AND AFTER BALANCE)

Below are photos showing my before and after wallet balance after the process of power up.

Before photo: I had 29.362 steem power before powering up 0.606 steem	After photo: after the power up process, my steem power increased to 29.968 SP

The actual aim for power up is to build my steemit account to be valuable.

I will invite @yancar, @kouba01 and @pandora2010 to join the contest.
About @jaytime5