Monday, 28 March 2022

How To Update Your Family Savings Plan For The Modern Age

One of my recent goals has been to overhaul and improve our family finances, with the hope of enabling us to do more of what we all love - travel as a family!

Over the past few years, we have been focusing our efforts on trying to improve our spending and saving habits - and I'm pretty happy with our results! Our goal was to be able to afford a no-expense spared family holiday of a lifetime to Florida - something I've wanted to do since my own childhood and that my children are also really excited for. After booking our trip as an incentive to save a few years ago, we are now in a position to head off on this 4 week long trip in September and have managed to save enough to cover the cost as well as the spending money. 

So now we want to keep on saving, and hope to be able to afford more travel opportunities together. But lately I've been questioning whether perhaps I'm missing a trick by sticking to traditional saving methods such as using an ISA. 

Maybe I would benefit from stepping into the digital age with our finances!

I've heard a lot about things like cryptocurrency, bitcoin and the like in recent months but I have to admit - I just didn't know where to start, and I assumed that it would be something for much more experienced and wealthy people.

But it turns out it's actually much more accessible than I thought, and it certainly seems as though it could be well worth considering.

Traditional savings accounts tend to earn about 5 to 6% interest, but using a platform like AQRU allows you to earn interest on ethereum at a much better rate (12% for stablecoin, and 7% for bitcoin and ethereum).

The platform is incredibly simple to use - there's a very handy calculator which allows you to estimate your potential earnings. Looking at this, I can see that there's potential for me to turn a £5,000 investment in stablecoin into £7,400 within 36 months. That could certainly cover a nice holiday!

Although some of the jargon around cryptocurrency seems confusing at first, it is actually much easier than you'd think to get started. You can deposit cryptocurrency or standard currency to get started (without fees) and you can withdraw at any time. There is a $100 minimum deposit, but no minimum withdrawal.

AQRU was created out of a frustration with the difficulty that many people face to generate returns from their cryptocurrency by an experienced team of investment, payment and technology experts. The crypto market was initially created to make financial services available to everyone however, it has quickly become too complex and inaccessible to everyday investors. AQRU seek to change that by creating an easy-to-use platform which makes it simple to convert standard currency into crypto and begin earning high returns immediately.

You can find out more here.

Although it may seem confusing at first, one thing is clear - cryptocurrency is not going anywhere. In fact its becoming more and more intertwined with traditional currency, and the future looks set to see a much heavier focus on cryptocurrency - so although you may feel that you've missed the boat, it could be more likely the case that you can't afford not to take the chance on some low-cost investments.

Will you be updating your family savings plan to include Ethereum? I certainly plan to give it a try.

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