How do you save your money?

[SensualJade]

Ok so now that I’m fully transferred over to split camming on token sites I have been making bank! Like I’m talking 150 on a “bad day” and at least 400 on a good day.

My question is, I want to now open up a high yield savings account…are there any models here who have successfully invested for taxes, a trip, etc…because now they I can catch up on rent and I’m pulling in around a grand a week I need to start placing my money in the right places. Im also Canadian but I do have a US soil account with RBC sooo..if there’s any Canadians here or Americans who know if Canadians can transfer over into US dollars still that would be great. I know it’s a shot in the dark since Canadians are left out in the ocean because honestly as an online model our small population has to jump through hoops for payout options alone. Sooo is a US high yield savings account possible as a Canadian resident? And which one? Because I know I’ll have to pay taxes on it. Thanks!

 

[Miss_Lollipop]

Ok so now that I’m fully transferred over to split camming on token sites I have been making bank! Like I’m talking 150 on a “bad day” and at least 400 on a good day.

My question is, I want to now open up a high yield savings account…are there any models here who have successfully invested for taxes, a trip, etc…because now they I can catch up on rent and I’m pulling in around a grand a week I need to start placing my money in the right places. Im also Canadian but I do have a US soil account with RBC sooo..if there’s any Canadians here or Americans who know if Canadians can transfer over into US dollars still that would be great. I know it’s a shot in the dark since Canadians are left out in the ocean because honestly as an online model our small population has to jump through hoops for payout options alone. Sooo is a US high yield savings account possible as a Canadian resident? And which one? Because I know I’ll have to pay taxes on it. Thanks!

Start with saving three months living expenses then open a retirement savings account.

I’m not sure on the other questions but this is what I wish I had done sooner

 

[SensualJade]

Start with saving three months living expenses then open a retirement savings account.

I’m not sure on the other questions but this is what I wish I had done sooner

Oh for sure! I’m just wondering which high yield savings account to go with. I need to start doing this.

 

[BrookeRidess]

Oh for sure! I’m just wondering which high yield savings account to go with. I need to start doing this.

Sofi

 

[BrookeRidess]

I freaking love this bank. Been with them 2 years
They have the highest % intrest rate and best service. Message me if you have ?

 

[BrookeRidess]

I forget your in Canada not sure if it's USA. I'm sooooo happy your making $. Are you making most on Chaturbate or a combo of everything. I miss u on the discord chats

 

[Maxi]

Kudos on the making bank - so good to hear about success on this forum

 

[KingMarti]

Oh for sure! I’m just wondering which high yield savings account to go with. I need to start doing this.

I use nexo because they have 12% annual interest paid out daily, also keep some in stocks, sometimes I'll put some in crypto if the price is right (ie/ not buying now, but probably in a few months or whenever it tanks again), I keep some in wise (they pay like 5% or something if I remember right)

 

[BrookeRidess]

Ignore my advise sofi is usa only ugh

 

[SensualJade]

Ignore my advise sofi is usa only ugh

I know…like the thing is if I were to state that only Canadians should answer I wouldn’t get any fucking answers. Seriously.

 

[SensualJade]

I use nexo because they have 12% annual interest paid out daily, also keep some in stocks, sometimes I'll put some in crypto if the price is right (ie/ not buying now, but probably in a few months or whenever it tanks again), I keep some in wise (they pay like 5% or something if I remember right)

I’ll check if they’re applicable for Canadians. And wow! Twelve percent?? That’s beyond a HYSA…it seems too good to be true. But certainly you pay taxes on that alone no?

 

[KingMarti]

I’ll check if they’re applicable for Canadians. And wow! Twelve percent?? That’s beyond a HYSA…it seems too good to be true. But certainly you pay taxes on that alone no?

They do crypto, usd, GBP and euro, different currency's have different interest rates, different account levels also make small changes. I have been using them since they opened in 2017 and never had any issues, as far as I know it should be available for Canada, taxes will obv deepened on where you are, but generally I think it would be classed as income.

Just had a look and it looks like since the crypto prices have gone up the interest rate has gone up too, so it's up to 16% now, but they normally drop it back down when the crypto price starts falling. Their cash flow comes from interest on crypto backed loans which is why the interest rates change with the crypto price.

Here's my nexo referral link if you want to take a look at the site: https://nexo.com/ref/nn7ifqcvzt?src=web-link

I do recommend spreading things out a bit (although personally I have very bad experiences with banks and such closing accounts and taking the funds so that might be just be me).

 

[SensualJade]

Kudos on the making bank - so good to hear about success on this forum

Yeah, I had to really spread myself out, buy an Ethernet cable and learn to multitask and split my attention for split streaming….but it’s more money for a reason. Totally worth it and my mental and emotional health has gone up through the roof since quitting streamate.

 

[BrookeRidess]

Yeah, I had to really spread myself out, buy an Ethernet cable and learn to multitask and split my attention for split streaming….but it’s more money for a reason. Totally worth it and my mental and emotional health has gone up through the roof since quitting streamate.

I think in a few weeks maybe just add streamate.com once or twice a week since you have reg there n just keep it in the back round n if it hits it hits n if nada it didn't hurt. But I understand being over a site too

 

[SensualJade]

I think in a few weeks maybe just add streamate.com once or twice a week since you have reg there n just keep it in the back round n if it hits it hits n if nada it didn't hurt. But I understand being over a site too

No way. I'm done with it completely. I appreciate your suggestion but it was the right decision for me to leave.

 

[AussieCosplay]

I put it into Raiz (Acorns in USA) then bought a house...now it all goes into trying to fix the house.
Investing in comfort as well as growing my equity.
Next is to start pumping money into a mortgage offset account.

I'm also hoping to get back to putting money into my superannuation (pension fund).

But first there's like $50k+ of Reno to do.

So yeah...house buying

 

[Shane]

Ok so now that I’m fully transferred over to split camming on token sites I have been making bank! Like I’m talking 150 on a “bad day” and at least 400 on a good day.

My question is, I want to now open up a high yield savings account…are there any models here who have successfully invested for taxes, a trip, etc…because now they I can catch up on rent and I’m pulling in around a grand a week I need to start placing my money in the right places. Im also Canadian but I do have a US soil account with RBC sooo..if there’s any Canadians here or Americans who know if Canadians can transfer over into US dollars still that would be great. I know it’s a shot in the dark since Canadians are left out in the ocean because honestly as an online model our small population has to jump through hoops for payout options alone. Sooo is a US high yield savings account possible as a Canadian resident? And which one? Because I know I’ll have to pay taxes on it. Thanks!

When do you want your money back?

Within 2 years? Maybe go with a US high-yield savings account (consider high-yield safe bonds for better returns)

For more than 3 years? Invest in the S&P 500 (consider Big tech stocks for even higher returns, big tech always wins). Important:- Never panic sell at a lower price!!!

Thank me later)

 

[Shane]

I use nexo because they have 12% annual interest paid out daily, also keep some in stocks, sometimes I'll put some in crypto if the price is right (ie/ not buying now, but probably in a few months or whenever it tanks again), I keep some in wise (they pay like 5% or something if I remember right)

Crypto doesn't have any actual value. Better invest in stocks.

 

[KingMarti]

Crypto doesn't have any actual value. Better invest in stocks.

Crypto dosnt have value so his company bought 1 billion $ in crypto based stocks

Warren Buffett Doesn't Own Bitcoin, but His Company Is Betting $1 Billion on This Crypto Stock | The Motley Fool

Nu Holdings is a high-growth fintech stock with a strong exposure to the rise of cryptocurrencies.

www.fool.com

Just because warren buffet cant see the value in something doesn't mean it has no value. Just because you or warren buffet or whoever dont have a need for it dosnt mean that others also dont need it, the argument is short sighted, it's like saying because I have no need for a boat then no one else can need a boat.

 

[Shane]

boat then no one else can need a boat

A boat can be used to cross a river. There are many Crypto that are not backed by any government, don't have underlying assets for their value, its value fluctuates a lot, unlike the U.S dollars, to be used as a currency.

 

[KingMarti]

A boat can be used to cross a river.

This shows you didn't understand my point
Crypto can be used to make a financial exchange without the use of a 3rd party. Just because it's not something that you use doesn't mean that it doesn't have value and use to someone else.

A boat can only be used ,to cross a river if there is a river to cross. The value of something depends on the perception of the person looking at it. Someone drowning at sea will consider a boat to be a lot more valuable than someone crossing the dessert.

The fact that crypto is decentralized and not backed by any government or 3rd party is one of the very features that makes it valuable to some people. It means that there is no interference in payments (which in this industry is something that happens a lot), it means that no one can prevent you from accessing your funds for any reason.

Also you are aware that the USD is no longer backed by anything right? The reason it has value is because people say it has value, nothing to do with the government when it really comes down to it. if everyone decided tomorrow that chickens are what they wanted for payment instead of USD, how much value does the USD hold? This is the same with anything, things are only valuable when more than 1 person deems that thing to have value.

 

[AussieCosplay]

TBCH Warren Buffet has not outperformed simply investing in the top ETFs and leaving it TF alone.
Time in the market, not timing the market.
Even he can't do it.

 

[AussieCosplay]

This shows you didn't understand my point
Crypto can be used to make a financial exchange without the use of a 3rd party. Just because it's not something that you use doesn't mean that it doesn't have value and use to someone else.

A boat can only be used ,to cross a river if there is a river to cross. The value of something depends on the perception of the person looking at it. Someone drowning at sea will consider a boat to be a lot more valuable than someone crossing the dessert.

The fact that crypto is decentralized and not backed by any government or 3rd party is one of the very features that makes it valuable to some people. It means that there is no interference in payments (which in this industry is something that happens a lot), it means that no one can prevent you from accessing your funds for any reason.

Also you are aware that the USD is no longer backed by anything right? The reason it has value is because people say it has value, nothing to do with the government when it really comes down to it. if everyone decided tomorrow that chickens are what they wanted for payment instead of USD, how much value does the USD hold? This is the same with anything, things are only valuable when more than 1 person deems that thing to have value.

The USD is backed by guns.