Contest: A Penny Saved, is a Penny Earned
Saving is very important in our lives as no one has the power to know what is going to happen the minute, being comfortable today does not guarantee that one is going to be comfortable tomorrow. So there is a need for savings.
I appreciate @sahmie for bringing an educative contest that will help us think deeply about the concept of 'savings in general and the need for us to save our Steem earnings on the Steemit platform.
What do you understand by the word "Saving" and how can we save our earnings on Steemit?
Saving is the amount or quantity of something set aside for future use or any amount of money that is not for immediate use.
We can save our earnings on Steemit through the savings account or through powering up. By saving in the savings account on Steemit one has to send a notification for three days if the need arises for withdrawal before he is allowed to withdraw.
But when saving on steam power, there is a need for one to power down before withdrawal takes place, and powering down would take 1 month before withdrawal.
Give reasons why you think it is important for us to save our Steem earnings on Steemit.
Saving our earnings on Steemit is very important as it will help us achieve more.
We have many ways to save on steemit,
We have a savings account that allows us to save our earnings without charges, meaning it helps us save money without any charges like financial institutions.
Saving on Steemit helps us from the hands of Fraud Star, as the process of withdrawals needs some of the private keys. Only the person who has access to your keys can tamper with your account.
Secondly, we save through powering up, this method of saving on Steemit gives us the flexibility to gain some profit on our savings, it gives us the voting right to earn the curation reward on other people's posts and also withdraw by the process of powering down.
How do you balance the excitement of earning STEEM on Steemit with the importance of saving for the future?
Steemit is one of my achievements in 2023, I was very happy to join this platform as it gives me hope for the future, right from the beginning I took it as a future investment which is why I set my target of saving for the future on Steemit.
I am very excited that the Steemit platform help me to achieve my aim of writing by teaching me some writing skills that allow me to write and gain some rewards for the future.
To show that a penny saved is a penny earned, do a power-up showing us a before and after wallet balance.
I like this statement "A penny save is a penny earn" Steemit is a platform that allows you to save and earn profit through the powering up of Steem. That is why I am going to power up some of my rewards to back this assertion.
This is my steem power before powering up today
This is my steem power after powering up today.
All screenshot are don using my phone.
I would like to invite @ruthjoe, @ngoenyi and @josepha to join this contest.
I really got an intrinsic value from your publication. It's true that Steemit had provided another means of saving but my question is, what will be the interest accrue to members who adopt that saving method?
I prefer saving with Steem power because it will give you more strength on the platform and allow you to do more task compared to when it's on just saving.
In my analysis I only talked about Steem power saving but u had done when to enlightened us on that aspect.
I would like to see your comment on my publication to hear your own comment concerning my view of saving .
Your clarification on saving on Steemit through both the savings account and powering up provides valuable insights into the options available to users.
It's important to understand the withdrawal processes associated with each method, especially the notification period for the savings account and the one-month duration for powering down. Nice entry!!
Thank you, for your review sir