Save and Invest!
Save and Invest: Steemit’s not just to earn
Steemit is a good place to earn! In my previous articles, I highlighted the fact that Steemit is not just a place to earn but a place to impact lives with what you’ve in in you. I talked about several ways you can improve your reach on Steemit.
Today, I want to talk about what to do with the cash you make while on Steemit.
Making cash is a big deal but the use of the cash is a bigger one. If there’s no need for money, a lot of people will not want to work regardless of importance of work to the body and overall health. For the fact that there is a need for money, hence, the need to work and make some money. But more important is how to use the money.
Spending money is easier than getting it and that’s why someone can spend millions of dollars in a shopping spree within hours but spend years to acquire it.
How do I keep the cash coming in?
Save
Saving your SBD/cash is one sure way to always have it available. Saving is a habit that’s not easy to develop. I will recommend in this post how to save your SBD and not be in discomfort.
Have a target
Always have a target in mind when saving your steem dollars or the cash you made from selling them. Having a target will help you to be more disciplined and hopeful that what you’re saving for will soon be a reality. Have a target on what you want to use your savings for and also have a time target.
Save a percentage
Do not save randomly; save a percentage per SBD. You will never be at loss on how much to save when you always save a certain percentage. If you’re making you SBD in tens or hundreds, the percentage is always constant.
Save Little
I previously highlighted that you save a percentage/SBD. But the percentage should not be burdensome to you. Don’t save so much per income because this will make you come after your savings once you exhaust the rest SBDs.
Invest your Savings
The SBD/cash you have saved cannot increase on their own without investing. Investing your SBD will make it earn more for you! You can invest your SBD on Steemit when you power up.
Let your cash work for you and earn more. Just like any other investment, powering up on Steemit takes up to 3months before you can withdraw.