Contest : A penny saved is a penny earned
Greetings everyone. I appreciate @sahmie for this interesting contest titled : a penny saved is a penny earned. And i would love to drop my entry.
WHAT DO YOU UNDERSTAND BY THE WORD "SAVING" AND HOW CAN WE SAVE OUR EARNING ON STEEMIT
Saving is income not spent. It simply means keeping money in a safe place until you are ready to spend it. An easy way of defining saving is consuming less in the present in order to consume more in the future.
Saving is an important thing to do on a daily bases. It helps one plan for the future ahead and enable us make better decision.
We can save our earnings on steemit in our wallet account. In this account you can see where the money you earn in steem goes to. The earning one save is converted to steem which can also be converted to steem power by a process called power up.
GIVE REASONS WHY YOU THINK IT IS IMPORTANT FOR US TO SAVE OUR STEEM EARNINGS ON STEEMIT
It is important to save in steemit because steemit gives you accountability and transparency on your steem earnings. It gives us detailed history on every transaction carried out on your account.
Another reason why it is important to save our steem earning on steemit is because of its good trading options. Steems are being traded round the world through the help of some apps like binance and others. Although its trading prices are low but i believe with time it will become high again.
Steemit is an amazing platform with a high standard security. This platform prevents any form of fraudulent activity unlike some saving institution which lack security.
HOW DO YOU BALANCE THE EXCITEMENT OF EARNING STEEM ON STEEMIT WITH THE IMPORTANCE OF SAVING FOR THE FUTURE
Steem is earned by writing articles and it is a thing of joy for me when my articles pays out and my steem is shown in my wallet. One of the aspect that gives me most joy is the part of saving what you have earned on this platform. Saving in steemit has a way of teaching steemians the importance of creating a quality and good post. Through this means one can easily be paid and this pay is being saved for you in the wallet.
TO SHOW THAT A PENNY SAVED IS A PENNY EARNED, DO A POWER UP SHOWING US A BEFORE AND AFTER WALLETBALANCE
I usually do a power up wheb it reaches a reasonable amount. Here are the following steps to power up.
step 1
Open your steemit account. Click on wallet, login to your wallet.
step 2
When you login to your wallet click on your steem, an option will appear for you to choose. Then click on power up.
step 3
A new page will appear where you need to enter the amount you want to power up. Then click on power up.
After powering up , you will see that your steem power have increased by the amount you powered up.
I would love to invite @unyime23,@abdullahw2 and @onomzy001 to join this contest.
Thanks for reading,
Yes, I agreed with you that Steem price is currently low but with time it will appreciate in price. However, one of it's importance it's because it's a Blockchain and you are the soul owner of your Steem. This allow you to do your transactions at anytime without any third party.
You can find more importance on my blog post of this contest.
You are absolutely right, saving on a daily basis is a key to financial stability because it provides us a safety net for unexpected expenses, allows proper future planning, and empowers us to make more informed decisions when it comes to our earnings. Keep up the good practice by powering up your steem. I wish you the best in the contest.
Thanks for your comment
You've made a good entry, however your before and after Images are not presented.
Yes, i know this is because i have already power down before the contest and powering down again may affect my account