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Set automatic small saving goals

Postby Yugocean » 06 Oct 2022, 05:09

Everyone can have their own budget for their essential expenses, along with it, starting an additional emergency budget with small goal would be a good choice.

Small short-term goals are as simple as setting your goal, adding 10-20 GBP/Dollar/USDT per month to this budget. It's quite simple. This small savings will continue to build up until you have an emergency to use it.

For this, it would be good if there is a separate bank account, because interest will also continue to be received from the bank on this savings, due to which there will be a small increase in savings, and a habit of saving will also develop.
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Re: Set automatic small saving goals

Postby Treborika » 06 Oct 2022, 05:39

This can be well said but practically can't be easier at all. In my country no interest can be accrued from such small deposits to an account no matter how long you can run the account
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Re: Set automatic small saving goals

Postby Yugocean » 06 Oct 2022, 08:22

Treborika wrote:This can be well said but practically can't be easier at all. In my country no interest can be accrued from such small deposits to an account no matter how long you can run the account

Every bank account need a minimum deposit, so when I said to use separate bank account, it means to maintain start with minimum, and then start your small savings for only last emergency use.
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Re: Set automatic small saving goals

Postby nela13 » 06 Oct 2022, 14:51

We have set a small amount that the bank transfer to a savings account as soon as we receive our salary, it is easy to do because it doesn't depend on us, the bank does all the job.
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Re: Set automatic small saving goals

Postby oldbuddy » 06 Oct 2022, 14:59

In the meantime, why not earn some free Crypto with faucets and deposit that in a compound interest bearing account and keep adding to it daily? It can all be done for free.
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Re: Set automatic small saving goals

Postby JASPREET » 10 Oct 2022, 07:22

I am not very good with setting a balance like that but it will be easy if I can as at least I will have some amount reserved when a contingency arises
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Re: Set automatic small saving goals

Postby augusta » 11 Oct 2022, 04:06

Apart from even the interest that one will gain from the small deposit, the most important thing is that you are saving money that will be very useful in the future.
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Re: Set automatic small saving goals

Postby kennysplash » 05 Nov 2022, 08:03

I wouldn't think about the interest though, it's nothing much on small deposits. But you'll be surprised at how much more you can actually save with this strategy.
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Re: Set automatic small saving goals

Postby augusta » 06 Nov 2022, 04:03

Yeah little drops make mighty ocean . Go figure. You would make good money if you can save no matter how much it is monthly.
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Re: Set automatic small saving goals

Postby oldbuddy » 06 Nov 2022, 10:58

kennysplash wrote:I wouldn't think about the interest though, it's nothing much on small deposits. But you'll be surprised at how much more you can actually save with this strategy.

I started with a few Satoshi per click and now I am up to 186 per day in interest on my 1.6 Million Satoshi balance in just one place.
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Re: Set automatic small saving goals

Postby peachpurple » 06 Nov 2022, 13:45

I saved $10 per month, although the amount is small but at least i did saved some money in long term run.
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Re: Set automatic small saving goals

Postby JASPREET » 07 Nov 2022, 08:16

I have not been successful with it but I am looking forward to start so that I can save for Next diwali which is quite far so I can save a good amount
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Re: Set automatic small saving goals

Postby Yugocean » 09 Nov 2022, 09:15

JASPREET wrote:I have not been successful with it but I am looking forward to start so that I can save for Next diwali which is quite far so I can save a good amount

So start saving from today, even 15 cents a day will make a worth return in Deepawali.
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Re: Set automatic small saving goals

Postby augusta » 27 Nov 2022, 00:03

If we wait to start saving big it will take a longer period, the best bet will be to start with what we have no matter how small.
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Re: Set automatic small saving goals

Postby Yugocean » 27 Nov 2022, 07:57

augusta wrote:If we wait to start saving big it will take a longer period, the best bet will be to start with what we have no matter how small.

Right, start saving from now. I even told people to save even for candy.
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Re: Set automatic small saving goals

Postby ptrikha21 » 27 Nov 2022, 15:11

This is a very valid and useful tip. In some ways I have been trying to do this.
There have been some constraints like inflation, Place shifting and others.
Yet I believe that such an approach can help in a medium to long term, like it helped me with a small amount Mutual funds SIP.
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Re: Set automatic small saving goals

Postby Yugocean » 29 Nov 2022, 06:24

ptrikha21 wrote:This is a very valid and useful tip. In some ways I have been trying to do this.
There have been some constraints like inflation, Place shifting and others.
Yet I believe that such an approach can help in a medium to long term, like it helped me with a small amount Mutual funds SIP.


When I was young lad, I used to invest my pocket money in Bank, later I was able to purchase a nice furniture. Imagine how small saving will help.
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Re: Set automatic small saving goals

Postby ptrikha21 » 07 Dec 2022, 15:12

Yugocean wrote:
ptrikha21 wrote:This is a very valid and useful tip. In some ways I have been trying to do this.....


When I was young lad, I used to invest my pocket money in Bank, later I was able to purchase a nice furniture. Imagine how small saving will help.


Yes, very true. However, the problem is that not all in my family share my ideas about small savings.
So it is a challenge going alone at times.
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Re: Set automatic small saving goals

Postby darkuszerx » 10 Dec 2022, 00:01

This is what things that exactly i do now, i will always save even the smallest possible numbers of money because it will get bigger of we keep it on track
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Re: Set automatic small saving goals

Postby usailahsudahh » 10 Dec 2022, 01:31

It is easier to set a small saving goals because we don't need some big amount of money if we want to save
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