One of the biggest issues people can run into while saving, is not having the will to keep on saving. This is what happens when people have saved a little bit of money and than decide they don't want to save money any more and impulsively spend it. However there could be a way to avoid this, the question is, should you do it.
Should you keep your savings as Crypto Currency :
In order to avoid impulsively spending your money when you lose the will to save, you could turn your savings into Crypto Currency. This would mean that you have to use all your savings and buy Crypto currency with it. Some examples of Crypto Currency are Bitcoin, Etherium and Dogecoin.
The obvious advantage of this is that while there are places that accept Crypto Currency as payment, there's not many of them in South Africa. So there is less of a chance that you will impulsively spend your money.
The Possible risk :
Unfortunately the risk with this is the same with all Crypto Currency, the fact that the price can drop at anytime. This would cause you to lose a lot of the value of your savings.
There's is also the alternative view that the price can rise at anytime, giving your nice profit. It all depends on how the market performs.
My Opinion :
At the end of the day the choice remains with you, However I believe that it's a choice that should only be made after thorough research about the risks and benefits. However if you do impulsively spend your savings, this may be one of the ways that you can avoid it.
Would you use this method or not, tell me in the comments section and follow for more Crypto Currency news as it happens.
Content created and supplied by: News_and_Vibes (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More