Crypto is a fun but dangerous game.

It's been a long year for us crypto heads and anybody that's been in the game for a decent length of time has seen the ups and downs of the markets and how that can affect our behaviors.

In fairness we can say the same about life as it's never just a straight line from one year to the next. Things happen, life hits us and suddenly we have no money left and in a position that we can't earn anymore or earn enough to keep everything going.

It's very important to have investments and grow your passive income but it's also very important to build up a solid savings scheme or emergency fund for when these tough times hit. Keeping your powder dry works in real life and in crypto.

We are looking at a time very soon where i might have to give up my job due to childcare issues and survive solely from crypto. If Hive was $3 this wouldn't be an issue but at 40c it's not enough to survive day to day and to keep our lifestyle going.

Luckily I have some savings put aside form the past few years but now it's full focus on building up my stack and preparing for rough times ahead.

How much should you save in an emergency fund?

Most financial experts recommend saving enough money to cover three to six months' worth of living expenses. This gives you a comfortable buffer to fall back on if you need it. However, the amount you need to save will depend on your individual circumstances, such as your monthly expenses, income, and job stability.

I don't even think that this is enough.

It's one thing to survive but if you want to have a good lifestyle at the same time then it needs to be a lot more. The scary thing is that most people don't even have one months living expenses put away

There are lots of ways to build up the fund day to day. Some that I'm already doing and some that i will start.

• Create a budget: Knowing how much money you have coming in and going out each month is essential for building an emergency fund. Track your expenses and look for areas where you can cut back.

• Automate your savings: Consider setting up an automatic transfer from your checking to your savings account. This will make saving easier and less prone to neglect.

• Find extra income: Look for ways to increase your income, such as taking on a side job or selling items you no longer need.

• Avoid impulse purchases: Impulse purchases can quickly eat into your savings. Make a habit of only buying things you need and sticking to your budget.

• Be patient: Building an emergency fund takes time, but it's worth it. Stay committed to your goal and don't be discouraged by setbacks.

Simple steps to save.

Cutting back is the easy part even if i'm already tight with my spending so putting more into savings and adding extra income will be a big focus.

Step one will be to take advantage of the 20% HBD interest rate and I transferred $1000 into bittrex today. The tricky part here will be to buy HBD as liquidity is terrible on the site so it might have to be pancake swap.

While I'm still working in my job i'll take as many extra hours as i can fit into the week and earn the extra income as well. that way if i do have to leave that i can even get a lot of tax back later that was paid with the expectation of more wages.

I'll watch the spending and just keep up my activity on hive and other online sites.

Every dollar helps and then you can compound it in crypto savings to generate a bigger savings fund over the year.

IT's so important to have these savings and to grow them even more for when life hits hard.

At least we have options to get through our current mess because of planning ahead compared to how much pressure and stress we would have if i had to leave work, no childcare and no money to pay the bills.

Emergency funds are vital for life.

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