Saturday Savers Club! Week #2 March 12, 2022

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Wow time really flies, and you notice it when you have a recurring schedule to meet like posting every Saturday for my Saturday Savers Club! Lets do a quick recap:

"My Savings Plan for the coming 10 months starting March 1st 2022, and ending Dec 31st 2022.
Goals:
5000 Hive Power
200,000 SPS
50 EDSM
100 EDS
300 SPI"

  • This is my goal, quite lofty considering I just came to the Hive Blockchain and Splinterlands in August of last year. I came for Splinterlands but I have truly become amazed by the Hive Blockchain, it embodies a concept I was pushing to my friends and acquaintances years ago. And this concept is corporations monetize our data and personal expression on a daily basis, if someone could ever come up with a way that people could earn that value themselves for their contribution to the situation. Hive embodies this concept by allowing people to upvote each other without fear of losing their own stake. This concept is truly revolutionary. But I digress.

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"Current Stats as of March 3rd 2022
Hive Power-- 1,421.876
SPS--------135,055.000
EDSM------- 6
EDS----- 1.23
SPI----- 52.83
Accumulation needed per month/ week/ day to achieve goal Based on estimate of 30 days/month, 40 weeks for 10 months henceforth:

Hive Power--357.8 per month, 89.45 per week, 11.92 per day
SPS--------6,494.5 per month, 1623.625 per week, 216.48 per day
EDSM------- 4.4 per month, 1.1 per week, 0.147 per day
EDS----- 9.877 per month, 2.469 per week, 0.329 per day
SPI----- 24.717 per month, 6.179 per week, 0.8239 per day

Current Stats as of March 5th 2022
Hive Power-- 2,077
SPS--------144,069
EDSM------- 33
EDS----- 2.15
SPI----- 52.83"

  • I really came out of the gates hard. It really motivated me to make a concrete goal that was a challenge yet obtainable. I made significant progress up until my last update in hive, sps, and edsm primarily.

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Current Stats as of March 12th 2022

Hive Power-- 2,548
SPS--------146,000
EDSM------- 33
EDS----- 2.84
SPI----- 52.83

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Hive Power

  • I powered up a total of 1126 Hive since my savings Plan began. In total over 20% towards my goal. Since last week's update I powered up 471 Hive. A slight decrease in my rate of savings vs last week but still 5x ahead of overall pace.

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SPS

  • Since last weeks update I have staked an additional 2,000 SPS putting me ahead of planned pace of 1623 SPS staked per week. Since the plan has begun I have staked a total of 9,000 SPS.
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SPI

  • No change, gonna be patient on this one because supply is limited/capped. I tried to sell some last week near 4 hive didnt get any takers, then tried to buy some at 1.90 didnt get any takers, so pulled all my orders since hive is very volatile lately. Behind goal here but I am prioritizing right now based on market conditions I am seeing.

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EDSM

  • I loaded up on a bunch of these EDS miners last week, basically tripled my position so wanted to hang tight and watch the mining trends, ironically I've gotten less EDS than be4 I 3x my miner position, perhaps I was super lucky before and my luck has run out! No change

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EDS

  • Gain of 0.69 organic growth mined from EDSM. Last week when I had 1/3 the miners I produced 0.9 so perhaps I was very unlucky in the lotteries this week despite my increased miner position.

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Psychology of Successful Savings

  • In my experiences with people, I have seen some common obstacles that hinder people from being able to accomplish successful savings plans. The biggest would be the desire for instant gratification. We are all animals at the end of the day and try as we do to ignore it, we are in fact governed by instincts, chemical and biological reactions, we are fallible. There are only two guaranteed things in life I've heard, Death and Taxes. So why not give ourselves as much pleasure as possible at any expense right? Have you ever asked yourself why you want that expensive car, or multi million dollar mansion, or 100 million dollar yacht? More importantly do you seriously think if you obtained more STUFF than you would suddenly be in a state of bliss forever?
  • The core principle of saving is like a squirrel who hides his nuts away for the winter, so survival is assured. Just as you have preppers who feel the need to surround themselves with guns, ammo, and canned food like my Grandpa. A saver, is just stockpiling a different collection of resources for the future, and if that saver has done their homework, they will likely deploy those savings into productive earning assets and experience growth. Savers have immense discipline, and get no credit for it. Every dollar that a saver put in the bank or investments, is a dollar they didn't get to utilize for consumption a.k.a. buying stuff. True willpower.
  • Make savings a regular habit. Start small, but Start Today! #2 biggest setback for people, they all want to make these good decisions, but not today, some day in the future. Start today, the earlier you start, the more time you have for your money to compound and the less you have to put in. Best wishes everyone!

See you for the next update on my savings progress next Saturday!

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