Hive Savings Goal Status Update Jul 2024

in LeoFinance12 days ago

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Foreword
Good day to all. How are all of you doing, July is here and we are in the 2nd half of 2024 and time to step up on the goals that I have initiated at the start of this year as soon it will be the end of the year. I know I am still quite a distance away from my goal, so I need to do something about it.

2024 Goal
Before I proceed further, let's recap the savings goal I set for myself when the year started.

PowerStartGoalNow
Hive Power (HP)500090007261 HP

In my June update, I reached 6813 HP. Today I have reached 7261 HP with a delta to main goal is 1739 HP, with about 5 months to go based on main goal timeline and 4 months to go based on secondary goal timeline. To achieve my secondary goal, it will mean that I in the remaining 5 months, I will need approximately 430 HP per month in order to reach my goal. Time is actually running out to reach my secondary goal and I will need to step up my efforts to reach the goal.

Performance to Plan

To examine how much more I can boost, let's look at how much I can generate at this moment.

Layer 2 Token Management
It is important to review my sources of layer 2 tokens that increased my liquid Hive and SWAP.HIVE and started planning to get them into a better state for better passive drips.

Liquid Hive Sources:
Holding EDS tokens- The amount I have yields me 0.06 HIVE per week.
Holding DAB tokens - The amount I have yields me 0.009 HIVE per day.
Holding SIM tokens - The amount I have yields me 0.026 HIVE per day.
Holding BRO tokens - The amount I have yields me 0.006 HIVE per week.
This totals up to 0.311 HIVE per week an increase of 0.3 HIVE per week as compared to last month. I didn't get much improvement on this. Need more of these tokens to boost up the passive.

SWAP.HIVE Sources:
Staking DRIP tokens - The amount I've stake yields me 0.0016 SWAP.HIVE per day.
Holding BBH tokens - The amount I have yields me 0.00078 SWAP.HIVE per week.
This totals up to 0.01198 SWAP.HIVE per week. Insignificant increase which is a big problem.

As you can see the increase came mainly from increase in EDS and SIM. EDS came from the EDSMM and also draws in the weekend from Saturday Savers post. SIM came from my active playing of dCITY which I am accumulating SIM to boost my daily lobbying HIVE earning.

The next focus will be the building up of DAB and potentially BRO. I get a small passive BRO drip due to staking Alive, but it is not growing as fast as I want it to be. Would definitely need to repurpose some tokens to generating a little more of these passive earning tokens. Best case if for my passive Hive drop being able to fund a 10 Hive Power Up during Hive Power Up Day.

In this 2nd half of the year, I will also need to be more diligent in terms of selling some of the tokens that are earned from curation into SWAP.HIVE then powering it back to HP to move myself on track to my goals.

Curation and Writing
One of the reason that I had a better savings increase for this mainly came from both curation and writing. By being consistent in this 2 activities will definitely help my Hive to grow especially on the writing part. Being consistent in terms of writing grants you a delegation from Hive.buzz when you successfully complete the Hive Power Month which can further improve your curation power over time. The larger our savings in terms of HP, we can actually snowball our earnings when we spend some time curating. This is my stronghold for earning, so focus will be put here.

Light Hearted Play2Earn Games

Check out this link if you like to explore Rollercoin
Rollercoin Link

A peek into my mining room on rollercoin

Remember this little mining game that I shared last month, while many think that this will not be able to yield much, I beg to differ because with a very minimal effort while drinking tea or coffee after a meal, just do a little swipping and play a few mini games, you can keep your miners running and mine in the background and before you realize it, you build up a big bulk of miners which help to mine the crypto of your choice. And from there, one can channel it back to hive to increase HP for stronger curations and thereby better savings.

Today, I am still accumulating the RLT which is the coin for the game to buy more miners. Once I build up a substantial amount of miners, Rollercoin will because another source of passive income for me.

One piece of advise is that, doing all these will not make you grow rich overnight, most of these are done base on small pockets of time such as post meals or even communiting to clock up a little here and there. And these activities are not compulsory and it should not disrupt your life patterns too much.

Closing
Time is a little tight now as we thread into the 2nd half of the year and I will need to step up efforts and try to accumulate HP sufficiently so that I can finish the goal I set for myself. Hopefully I will still be in time to meet my secondary goal timeline. If you have any other saving tips, do share them with me.

See you next time!

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Saturday Savers Club

What is Saturday Savers Club?
The Club is a supportive group of people who meet up around the weekly post, usually on a Saturday but occasionally on a Sunday, to share tips and techniques and have some fun in the process. Saving is a skill that takes time and practice to acquire and, like learning any skill, doesn't always go the way you planned.

Interested in joining Saturday Savers Club? Check out @eddie-earner.
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Wishing you success in your savings and goals @vaynard86 have the best week

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This post has been curated by the Alive And Thriving Team, we curate good content in the We Are Alive Tribe that is on topic for #aliveandthriving, and it's included in our daily curation report on @aliveandthriving, plus @youarealive is following our Curation Trail.

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Nice progression on your goal
Peace

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