Investment Funds Should Be Separated
I know from rich people's mindset this is already given that investment money is separated from savings, daily expenses and unexpected spendings but for some ordinary people's thinking money is money regarding of it's uses.
Especially in third world country like us (PH) people will think you're already getting rich when you have 50k-100k cash on hand or $1-2k. Two thousand dollars is already huge in our fiat money, it can build a little house or it can buy land already.
Ever since I didn't entered crypto yet I always do budgeting, my spendings and savings are separate so in case of emergencies I can have the fund right away without being indebted to someone or getting some loans. But I don't have any money destined for investment back then because I also earned a little as a minimum wage earner only.
When I entered crypto I've learned to grow my asset, which I considered my Investment
Upon reading hundreds of articles while learning the crypto ways, I've learned how to adopt how Chinese usually handle money which is they opt to grow their money by investment and doesn't spend like one day millionaire, although I am already like that before. I don't spend money carelessly because it's hard to find it so I always make sure my spendings are already calculated.
“You earned money to spend”
Yes money should be spent but that doesn't mean we should spent it all even on unnecessary things. Spendings should be balance with your daily income, spend less than your wage not the other way around so we will not end up having debt.
They said businessmen has a lot of debt more than the ordinary people, yes it's true but their debt causes are always about growing their investment or businesses not buying luxurious things just to show off.
Did I never spent some of my crypto's and just keeping it myself?
No! I've spent a lot. I bought different stuff for my daughter, supported my partner financial when he was processing his papers to onboard also bought new mobile phone but only cheap ones.
I've spent for my family when I get back here in province but all of it are already earned. Whatever coming into my wallet is kept and I only set a portion what to withdraw and spend not entirely touching my portfolio just to spend some.
I even have $3 a day savings campaign intended for my wedding because I don't want to spend recklessly but rather save up first before spendings occur.
“The goal is to be rich, not to look rich”
I always believe in this, I don't spend just to look cool or whatever I prefer to grow my asset first before buying some bigger stuff in real life.
I grow my Bitcoin Cash via SmartBCH
I actually only used 1.03 BCH to grow in SmartBCH, currently it is worth 5 Bitcoin Cash already approximately maybe that's the amount I calculated last time. It means I've made 4 BCH by rolling it.
Right now I invested my 2 BCH on Pegaxy, if BCH price is higher it will not cost 2 BCH but since price is shitting us so I sold 2 BCH just to buy Pegaxy at $380 per BCH :(
Before doing this, I was convinced by bmjc98 and I believe her because she already has experience in playing Pegaxy. PVMihalache and Jiroshin also said it's good investment because Pegaxy is still in new stage.
If you want to grow your money, you should always separate your spendings, savings and money intended for investment.
If you spent more of your earnings on building a house, for hospitalization and other stuff then that's your investment. It's good because you invested on house or health. But if you already done it you should start separating funds for investment purposes, because savings is not an investment but money intended for emergency purposes only.
I don't know if this made sense, I was supposed to tell you my story how I bought my Pegaxy but I remembered people in here (PH) believe you're already rich if you can spend large amount just for the game, without them knowing it's an INVESTMENT and not just buying it to go with trends or just to look cool.
Thank you for reading!
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Date Published: January 18, 2022
Iba po talaga pag financially literate, you get to spend, save, and invest even wiser