The 52 Weeks Savings Challenge - HBD Style

2023-12-25T23:55:45

With the new year just around the corner, everyone rushes to get things ready to kickstart their year, personally, physically or financially.

Whichever goals you aim for, it's always difficult to keep consistency so any support and tools are welcome, right?

When it comes to financial goals, many articles come around this time with ways to help you save money so you can either have some in case of emergency or just simply for that dream trip.

One of the ways that I always came across was the so-called "52 weeks savings challenge".

Not sure who came up with it in the first place but the idea was simple: you should deposit an increasing amount of money into your savings each week for one year (52 weeks).

For example, if you want to start with $1: you’ll save $1 the first week, $2 the second week, $3 the third week, and so on until you put away $52 in week 52.

If you stick to this challenge throughout the entire year, you’ll save a total of $1,378!

That's not a bad amount for just a dollar!

A few benefits of using this method:

  • You can start with a small, manageable amount

  • Helps you identify your spending habits as you find ways to save each week

  • You can start anytime

  • Serves as a stepping stone toward achieving larger financial goals

  • Provides a systematic and fun way to save money

So I decided to adapt this on Hive, specifically $HBD, which everyone wants to pocket in, especially with the monthly 20% interest if you add it to Savings!

And, of course, on Hive you have the advantage of earning by blogging, threading and all that jazz!

Edit: Big shout out to @gadrian for correcting my maths regarding the HBD interest because I suck lol Thank you, Adrian! I also created two sheets, one simple if you want to adapt to other tokens or even FIAT and another with the HBD interest.

Here's the link for the spreadsheet:

https://docs.google.com/spreadsheets/d/1iu24U2mwa1KAJC_LS0u8vHs-v7bxMhRmWdardZoffOs/edit?usp=sharing

You just need to change the initial amount at the top and it will automagically show the amounts you need to save in a specific week plus the 20% interest compound.

Another example: 1HBD can be difficult to earn for the early bees, so let's see what you could get with just half HBD:

From a Hive perspective, this can be used as a way to push you more into blogging and threading each week as the amount you want to save increases!

Sure, you can buy some $HIVE and turn it into $HBD and you will probably have to so you can reach the amount for that specific week. Or even sell some of your 2nd layer tokens!

But it wouldn't be as fun as blogging/threading away and earning other tokens in the process :)

So...are you ready for 2024?

See you next time!

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Posted Using https://inleo.io/@elianaicgomes/the-52-weeks-savings-challenge-hbd-style

Posted Using https://inleo.io/@elianaicgomes/the-52-weeks-savings-challenge-hbd-style

Posted Using https://inleo.io/@elianaicgomes/the-52-weeks-savings-challenge-hbd-style

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