Quote from: Meowth05 on June 28, 2018, 02:19:36 PM

Quote from: Exeus on June 28, 2018, 08:21:07 AM

Quote from: Bastok on May 25, 2018, 07:01:10 AM

Quote from: Kolly on May 25, 2018, 05:41:54 AM

Quote from: Pumapipa on May 25, 2018, 05:03:52 AM

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?

Emergency funds are not to be deposited in a time deposit account. Time deposit accounts have specific time before you can withdraw it and you can never tell when you are in need of it. Also it is not wise to invest emergency funds because you are doing away with the main purpose of such savings.

Best thing to do with your savings is to invest, except for emergency fund. From the word emergency ,it means that funds always be ready because we dont know when we can use it. Emergencies is unpredectable. And when we allocated a money, savings and emergency fund is not the same. For the savings, it is not a good idea to put in just a bank.if you want to grow your savings ,it best to invest like the cryptocurrency

You have a point we don`t know what exactly will happen so we should have an extra money for emergency funds, as what you have said in terms of emergency we have already available funds to it and having a mindset of saving the money in the bank is good, but if you want your money to become more efficient in the future you can invest in crypto.

You have a point, it is better if we will sort out our money into different ways like the other one can be save for emergencies, other one will be kept at bank and maybe lend on a business. Everytime we get our salary or income always remember to divide into pieces thus, the money will not be problem in case of emergency.

As long as you are an investor, that is good in your case. This is one of the wise things to do with your savings and to invest it in crypto that gives you some good future return.

The best crypto to invest in is actually Bitcoin and ETH for long term. However if you little to invest, you cans go for crypto like NEO or litecoin that will incur you some good money upon cashing. You should also invest in property and real estate as the risk attached to these assets is very low.