Hello lions

It's a well-known fact that making new financial investing plans can be risky but taking no actions at all is even worse and leads you nowhere. So, it's always better to take small baby steps which are far better than not acting at all. Therefore it becomes important in life to take some actions, make some plans and set a GOAL for yourself and then act upon it responsibly to secure and grow your wealth over time. You will find no person on Earth who doesn't want to get financial freedom but only a micro percent of those actually plan their journey and stick on it for a long time. Now, talking about me, as I have close to getting into my thirties and just married, I also learned about the need for savings to make a better future for me and my family. I am fully dependent on the hive and already made multiple income streams here and have been increasing my assets since I join this amazing platform. My main 2 income streams are writing blogs and playing splinterlands and I have been doing it for years. But, as I have more responsibilities on me, I learned that it's time for me to act more seriously on my financial decisions and grow my wealth while balancing the risk as well. I have seen both high and low times in crypto and survived multiple bear market seasons including this ongoing one, which taught me that while in these long ongoing bear trends, it's the best time to accumulate assets in the crypto world, it's also important to invest in risk-free plans as well and make an earning stream that will support me in the downtrend while I focus upon building other assets in meantime. That's why I recently made a plan for myself to invest in HBD savings to enjoy the risk-free 20% APR on a stablecoin and today in this post, I will talk about my plan and strategy.

My plan with HBD savings

Taking action toward financial goals is crucial and to reduce risk to reward ratio, diversification of assets is important as well. I realized this recently and thus, I set myself a challenge a week ago - achieving 2K+ HBD in my HBD savings with an attractive 20% APR. It's been only a week or so since I set myself a Goal to achieve 2K+ HBD in savings to earn the sweet 20% APR. To be honest, earning a flat 20% apr beats any non-crypto investment as in my country, where bank savings account gives you 4%, RD (recurring deposit) or FD (Fixed Deposit) gives around 5.5% and even investing as SIP in good mutual funds gives you around 10-14% apr but with a bit more risk. But if you look at the HBD Savings plan, it's pretty risk-free and as an old user of the hive platform, I have never seen HBD go below 0.9$ even during the worst times, not to mention that it got recovered quickly back to its pegged value. Moreover, the hive platform provides us to do transactions for free and also negligible charges on convert tokens which seems very beneficial for small and micro investors like me. So, as I am working full time and fully dependent on crypto, more preciously on hive chain, I think it's best for me to start saving a portion of my earnings in this HBD savings rather than risking my hard-earned money over other projects. That's why I decided to start investing in HBD saving recently with an initial goal of 2k HBD fund which I later will be increasing depending on my earning.

Investing while being risk-free

As someone who works full-time and relies heavily on cryptocurrencies, especially the hive chain, I decided it was time to secure a portion of my earnings in HBD savings rather than risk my hard-earned money on other projects. Therefore, I recently focused on my HBD saving journey, setting an initial goal of accumulating 2k HBD in my savings fund, which I plan to increase as my earnings grow over time. My strategy for building a 2K+ HBD stake involves leveraging and converting my different token earnings from Post Rewards, hive-engine and other investments that I already have. I For my Author rewards, I have decided to transfer the liquid HBD straight into savings and for my other token earning, especially on hive-engine, I will be converting them to hive then HBD, and then transferring it to HBD savings. Initially, I was mainly focused on staking any token or assets that I earn here and further reinvesting without touching most of my tokens. However, I now feel it's time to shift my strategy and accumulate more HBD in savings. For instance, I have already staked around 96k SPS tokens in my splinterlands in-game wallet which generates a sweet amount of SPS + Vouchers every day. I also have a good card collection in this game worth around 15k USD which helps me to earn good SPS rewards from playing ranked matches, tournaments and brawls. So, As soon as I touch my goal of staking 100k SPS, then after staking probably another 10k or 20k SPS tokens, I am planning to convert my earnings into building my HBD stake. By doing so, I aim to strengthen my HBD savings, while also capitalizing on other passive income streams on the HIVE Blockchain to acquire as much HBD as possible and re-stake them all to push the growth even more.

Power down Hive to boost HBD savings?

Now, you may be wondering about my thoughts on converting HIVE to HBD by powering down my HP (HIVE POWER). Though it might seem tempting but anyways, I decided against it for the time being. My current hive stake isn't looking as strong as I would like it to be as I am only standing at around 6.5k hive power. I used to power down my hive to buy splinterlands cards for a long time period and it did help me make a very good collection of cards which is now generating me good passive income but now, its time to build a good hive power. To improve this, my first focus is on reaching a minimum of 10k hive power in my account, while keeping an eye out for additional opportunities to build my HBD stake without compromising my HIVE POWER at all.

An SIP approach

Furthermore, I'm considering adopting a Systematic Investment Plan (SIP) for HBD, similar to the approach used for mutual funds. My intention is to purchase HBD every month using my other token earnings, gradually nurturing my HBD savings account over time. I plan to start by investing in at least 100+ HBD monthly and based on progress, adjust my trade limit accordingly to achieve my ambitious goal of 2K+ $HBD in savings.

That's all for today Lions and I would say let's together construct the way to a more secure financial future through HBD savings! Btw, I'm also curious to know your perspective on HBD savings. Are you currently stacking up HBD or selling them or converting to HIVE? Share your thoughts, strategies and overall outlook for HBD in the comments below and I will be seeing you all in my next post.