Saturday Savers 2024 Progress Report - Week 35

It's Saturday, and time for my #SaturdaySavers update. I missed last week, so this week's update covers a fortnight.

Image created by AI in NightCafe Studio. It's giving answers further and further from the prompts I put in, so I'm doing something wrong but I kind of like this one !

Here's my table of progress for the week (well, really the fortnight);

Commentary on the Last Fortnight

The last fortnight has been one where I took a break from Hive. The real world kind of came crashing in through the door, and I ended up having no time to post, and really not feeling up to doing so even if I had found time.

Instead, I spent hours walking local streets, putting up posted and putting leaflets through doors in a desperate attempt to find our missing cat. But the reality is that he has almost certainly been murdered by foxes. It's left me totally heartbroken, because he and I had bonded so closely. I expect I'll come back to posting slowly, it's not going to be a case of just picking up where I left off.

But it has given me a chance to take a step back and look really closely at Hive from an investment perspective.

The reality is that Hive is a fabulous community, and a really great place to post creative writing and general blog type stuff. But as an investment, I feel quite bearish about it.

I bought quite a lot of HIVE with fiat at prices that weren't close to peak, but were certainly much higher than they are now. In retrospect (because hindsight is perfect, lol) I should have focused on growing my HP through posting and curation.

My biggest concern is that both LEO and HIVE have basically been on a slow downward slide since the peak in January 2022. An interesting question is whether, if I get back to posting more, the earnings will enable me to grow my HP faster than the value it loses through it's ongoing price changes. Another one is whether there is anything on the horizon in terms of new functionality that could attract enough outside adoption to change the trajectory. We need a new Splinterlands !

Seeing the interest on HBD drop to 15% is a bit frustrating. I'd argued for a long time that I would rather see more regular incremental movements. A drop of a quarter in a single jump feels like a knee-jerk reaction. I'd love to know how many of the top 20 witnesses come from a finance background, or if the majority are more techie types.

Don't get me wrong; 15% interest is still far better than the banks offer. I'm not planning on pulling out of HBD, but the size of drop has certainly made me significantly re-evaluate the risk factor. Stablecoins are supposed to be nice and safe, but I think HBD has a little way to go before it can be considered to have matured to that level.

Overall, I'm not going to worry about my goals for now. I'm focusing on real life, will come back to posting a little bit at a time, and then look at targets in due course. But of course it is HPUD tomorrow, so I'll probably do something about that....

If you're not familiar with SaturdaySavers, it's a fabulous initiative run by @shanibeer writing as @sally-saver on the @eddie-earner account, where we all support each other in getting to our savings goals.

If you are one of my friends reading this (or just someone who tripped over one of my posts), I really recommend this as a great community that's well worth joining.

I'm normally very disorganised about saving, and the support of the wonderful people in #SaturdaySavers has been invaluable in keeping me focused. I can honestly say that without it, my HP would probably be half what it is now.

So join ! You don't have to wait until the start of the year. The best time to start saving is ten years ago. The second best time is right now !