Fiverr Community Forum

Saving Money 💰

All year I kept saying, “Oh, I’ll get around to saving next month…”

Well, I got up today and realized that over six months have gone by and I’m still procrastinating!

I’ve had some money all along that I’ve planned on saving, but I’ve been shopping around trying to figure out Savings vs. Money Market vs. short-term investing along with all the different rates out there.

  • Oops, I need to save! / None
  • I use my mattress, it’s safest! / Cash
  • I have a normal savings account.
  • Other (tell me below!)

0 voters

What’s your take on it?


I’ve been bitten so often by not saving, so I’ve finally developed an OK habit! I put away a little bit every two weeks in my regular savings account. We do have a money market account too, which I like because it has higher interest than plain savings but if we really need access to the funds, there aren’t big penalties like I’ve had with CD’s in the past. I’m also a kind of survivalist wannabee, so I like precious metals, but right now the only one I can really afford is silver. I keep a few silver eagles in a safe deposit box and would love to add more. I’m not sure if that is the wisest of my investments or the dumbest one, but it’s my favorite. Shiny!


I’ve always liked the thought of silver/gold investments, very stable financially and definitely pretty to hold! :slight_smile:

I almost went Money Market because of the higher rates, but convenience (since I already had a small savings account going with my bank) led me to a normal savings account for now.

You could just save up in your regular savings account until you have a nest egg and then move some into a money market when you feel ready. :slight_smile: I think most people that have the money to invest big in silver/gold don’t even buy it themselves, they invest in companies that keep it secure. I would rather have small amounts that I can see, though! :high_brightness:


Who doesn’t want to sleep with several pillars of gold bars as a pillow? I mean, if I’m buying gold I may as well benefit from it physically!

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I like using Acorns, little bits here and there add up to a lot over time! :smile:

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Is that the annual rate and is that compounded daily?

We can’t even get 2% here from any type of bank rate.


Agreed. 7% is impressive (or would be for the USA). The highest I’m able to find in the USA right now is 1.30% and below.

I’m planning on saving up a slightly more substantial amount so I can look into mutual funds and the like. But right now, anything is better than what I have been doing (even if interest is only a whopping 0.75% for my account).

Interesting to hear what other Fiverr sellers are doing, though :slight_smile:


I think good money management is so important as a freelancer - getting away from a hand to mouth existence and the feast <> famine cycle is vital to reducing stress. I always recommend freelancers have about three to six months of living expenses in a savings account to manage the anxiety of a slow week or month.

At the moment, our savings are as follows:

  • Six months of living expenses, around $25K in our checking account.
  • About $10K in outstanding invoices or business bank accounts.
  • Stock portfolio of around $16K, not really making much.
  • Ethical investments of around $12K, appreciated around 6% over the last six months.
  • About $95K in pension investments.
  • Around $450K in house equity.

It’s taken about 5 - 7 years to get here, where we feel financially independent as freelancers, and speaking from personal experience, it takes off a lot of stress. Outside growing your business and getting work, building a financial buffer is the most important thing you can do for your peace of mind.

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I really liked them too, I used them and Stash a lot until I moved over to more ethical investments.

Mid 40’s - at this stage, we should be investing in pensions…

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Oh you look younger in your picture. That’s still very good. [Opposite of a certain moderator from Ireland…]

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Heh, thanks - it’s the mountain air!

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That’s really great!

I used to save Acorns too, but Paul said they weren’t as ethical as some other investments. I switched to doorknobs and buttons. I only buy asbestos-free buttons, too. :stuck_out_tongue:


Not sure, I invest through OpenInvest, and really like it.

I should stop eating asbestos.

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Anyone ever tried taking care of a family of six and save money in the process? The concept of saving money doesn’t exist in my life…this keeps me up at night.


Just a family of three - but I’m a solo parent so its challenging. That is why I like apps like Acorns - you can save tiny amounts - either round ups on your purchases or $5/$10 at a time, which over time does add up. I find it less tempting to dip into it than if those funds were in a regular savings account. You can then take a larger sum once it has built up and invest into something else.

@paulmaplesden they just introduced an ethical investment option here in Australia which is great!


Good for you, when I say a family of six, I mean 3 siblings that are still studying and two parents with a lotta cats. I’m 21 and spend the entire day working and dealing with my receding hairline. :pensive:

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