Savings, Earnings and the car breaking down



Recently we got the great news that HBD interest is up from 12% to 20%. This is just amazing as the monthly compounding makes this in the region of 21.93%.

So I stuck this information into an excel spreadsheet.

If a person could stick $100 a month into this savings then instead of $24,000 straight, you would have over $311,000. In South Africa, this is a massive amount of money. R4.5 million in fact.

The monthly 1.667% monthly interest alone is something like R75,000!

This is actually crazy money. Many times more than what our whole household with 2 working adults earns plus any extra income we can make. This means that if we focus on this, it is very likely to give us a better return on investment than anything we can do with a bank on any traditional retirement fund.

Not to mention HP and HIVE of course.

However, I still need to GET to earning that kind of constant income on Hive. From the start of 2022 till now, my income has actually never been better!

Income on Hive scales up with a few different factors. Whether people want to admit them or not is up to them, but let's count the ways. Perhaps you can add some for me as well?

  • HP - How much HP you have will attract more people to your posts and comments - fact.
  • Posting often - You cannot expect to make a good income on Hive if you post once a month. Most of the people who make good money PER post also seem to be posting more frequently!
  • Posting content - This is extremely subjective as to what good content is. Good content in one genre may not be considered good content in another niche. If you post often and experiment, you will gain the experience to constantly improve what you are doing!
  • Commenting often - Engagement is super important. You need to reply to all the comments people took the time to leave on your posts. If the conversation goes back and forth, even better. You need to go comment on other people's posts as well, easily 4x as many comments as you make on your own work.
  • Followers - Through constant posting, posting content that makes people return to your work, and commenting often you WILL gain followers. Being on a lot of people's feeds is great!
  • Using the right tags - Not posting in a tag that is visible will seriously impact how well your posts do. I am not even sure I am always using the right tags. You can usually use 10 tags. Make sure that you have at least 4 to 5 good ones and then fill the rest of the tags up even if you cannot think of a community or something to use. Instead, just use a content tag that is not based on any community. It is a by-accident way to pick up exposure.

Other factors.

Being a nice and intelligent and engaging person helps!
Don't be fake or a kissass. Just speak to people like they are people and be thankful for engagement no matter the size of their HP or vote value.
SBI is also something great to invest into. You get to give someone SBI and get one yourself. Basic Income on posts! I have seen what this does on some people's account! Magic!

Finally, let me talk about my financial situation and the car breaking down.

My partner @clairemobey hurt her knee so public transport is out, our three kids go to three different schools and as a result, we need the car.

Yet a part failed in the car that caused water to leak and if we drive it like that, the whole engine can seize. So we had to foot the bill.

But my bank reserves are depleted due to helping family who also have no money.

The bill was R4700, which I managed to make R1700 due to some quick thinking and organizing on my part. I will share what happened in a #STEMgeeks post soon.

Regardless, this is R1700 - about $120 that I just don't have. I had to take it out the rental budget. So the only option for me now is for @clairemobey and I to put our heads down and work hard on Hive and make up that money!

Is this possible?

All in all, @clairemobey and I need to make $200 in HBD by the 26th of April. This is 13 days away. Payouts are on the 7th day and thus the posts of the next 6 days have to add to that.

HBD makes up half a payment and author rewards are half a post reward. $800 in post rewards in 6 days are possible for some people but not for myself at my level. Powering down Hive takes too long and thus I work on HBD earnings.

I like to use to check what potential payouts are. Right now mine is sitting at $104 but only a quarter of this will be available in liquid HBD.

So what can I do? I have about $45 of DEC sitting in my Splinterlands game account and have $85 in savings. That's a $130 safety net.

I would like to keep that savings and I am supposed to try out away $100 a month but I am just not there yet.

However, the positive side of all this is that with Hive at least I CAN sort this out!

I have been posting daily for over 35 days now. The rewards for this have been great.

I have also begun a daily Splinterlands stats post regarding the low hanging fruit of Splinterlands, the cheapest cards across different editions and how that fluctuates. Those starts are getting more interesting by the day and picking up some more viewers.

So let's see how far I can get!

I will keep you all in the loop!

Cheers and thanks for your time.

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