I see that many of you actually liked the concept of 20 % method wherein you allot 20% of your earnings to be saved as emergency fund.
So I was thinking, if that 20% allotted will be invested in a time deposit kind of account, will it still be possible to earn as much or invest it in cryptocurrency? Or maybe just let the money sleep until such time you will need it?
What will be a wise kove to do with the noney you have saved up?
You could (and probably should) put it into some form of a safer investment. There are a lot of stock options out on the market that allow for pretty continual growth albeit very slow. This would be better than just leaving your money in a risky investment or just letting it sit under a mattress somewhere because at least you collect some interest. As you keep making money, you'll end up with more in that emergency fund until it becomes something that you can actually work with in a few years/decades.
Yeah, there is still a lot of uncertainty in the cryptocurrency world and if anyone is saving here now, it should not at all be all their savings or something they obviously will not afford to lose or simply panic about. Personally, I save 20% from whatever I get monthly, with 5% going into crypto and 15% going to the bank.
I believe that is good enough for me, as being greedy should not be a thing in this world and having sleepless night over how the market is as well. The 5% is huge and good enough, and for the long term benefit, it is just perfect.