Creating Opportunities for others - Personal finance and Economic growth.
Doing a 9-5 job, and having a stable income through business and investment can sure give us financial growth. But these somehow don't flourish the economy. That's the reason why the government always encourages to become entrepreneurs, grow businesses, etc. Because it's a win-win situation for everyone. We can grow personal finance, as well as the economy, will rise.
**Now the question is, how can a commoner create opportunities for others if they don't own any business?**
Well, there's no certain answer to this. We can do sort of things like paying others for certain services like loaning or babysitting. But that directly doesn't create as much opportunity for others as we can do through business or entrepreneurship.
*That's when it's necessary to talk about why we don't think about growing more money. Money may not be on your priority list but who wouldn't love money, right? So if you are financially stable, then think twice if you really want your money to grow more or not. It's true that this is a huge step to take, especially if you are not business-minded like me. Also, it comes with great risks.*
That's why I like to invest things in easy sectors. Like investing in a shared business where I only work as an investor and carry 5-7% risks. Also, if you search for the better option I can guarantee you will find a more stable market/business where your money would be comparatively secure. I have some friends who are in the food business and clothing business in the same way. They are business partners but not directly involved with the business.
It goes only for those who have money but lack business knowledge like me.
If you have money, then go for direct business or investment in a better sector. Create opportunities for others. When you are well stable in terms of personal finance, maybe that's when you need to think big. I came to realize this lately after seeing the after-pandemic world economy. We all need to contribute a little so that we can solve the unemployment issues.
Remember, not everyone has money and lives a very feudal life. They can't create their own opportunity if there's no fuel from outside. We need to be that fuel. It's not like you are doing humanitarian activities, it's more like letting your money work for you. Because if the economy doesn't run smoothly we all will be sufferers.
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Financial management & quality of life - The interconnection.
*Quality of life is a highly subjective measure of happiness. It's hard to say there must be some money involved in it. On the other hand, in today's world, quality of life depends on an essential component of many financial decisions. Our job satisfaction, family life, health, and safety often depend on financial security and overall financial management.*
*Background made by me using Canva*
On the other hand, we can't ignore the fact that non-financial aspects like family bonding and our connection to our inner self might lead to true happiness and are sometimes enough to improve our quality of life. Individuals may have different metrics for their quality of life. But if we discuss this in general there must be some financial involvement.
Keeping this interconnection in mind, we must make a plan to improve our life as a whole. I wouldn't say, we should spend more time on money making. But there must be some time involved so we can provide for our health, housing, etc so we don't have to worry about this. Because all these are connected with our happiness.
Commuting to work
Housing
Food
Health
Job satisfaction
Family life
Safety
These are a few components of quality of life. Now you can clearly see the connection. We can't take even a step without any financial involvement to improve our quality of life and overall happiness.
To do so -
**We must think about how we can ensure our financial needs. If not luxury then at least the end meet where we don't have to stand on the stress point. Moreover, there must be a secure source of income. Trust me, you can never improve your state of well-being without having a secure flow of income. And if you are a family man, and a provider then budgeting, saving for the future, and working on growing your finance for your future is a must.**
If we can ensure all these and more then there's a guarantee that it will impact our overall living conditions and bring happiness. But we also need to understand that focusing too much on financial factors and ignoring nonfinancial essentials would end up making our life more complicated. Find the equilibrium and work on it to ensure the quality of life.
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Linkedin Fraud: Identity theft and Job scams - The cognizant we need.
**Did you ever hear that someone got a job by using your identity? Identity theft, profile hacking, and job scams are happening more frequently than we think, all over the world.**
Recently I got to see this on news. Some professional scammers were stealing info from LinkedIn, applying to different jobs with the same info, and some of them got the jobs. They were doing this fre
After getting some reports from the organization and the people who got scammed, police were capable to capture some of them.
I agree that it was possible for them because of proper data checks, and police verification from the organization. The truth is, many organization doesn't even care. I have seen many renowned organization recruit people in a day, after just a face-to-face interview without a background check.
image link https://unsplash.com/photos/JLj_NbvlDDo
As I use LinkedIn frequently for many years, I got to know some of the popular methods scammer use to steal our info.
Hacking the profile and pretending to be us.
Use a fake LinkedIn organization profile and provide a job circular. People apply and fall into their trap.
Stealing the public info, making similar profiles, and applying for different jobs.
They are so good at this, I'm telling you, you will never guess you are being scammed. For example, I have seen some news where the fake organization held online exams, interviews, and everything like any other company. And, lastly asked the person to purchase something like a laptop, mobile, or other office equipment. They say that they will reimburse the amount from the salary.
One thing I learned is if it's too easy, it's not real. If it sounds like a scam, it's highly unlikely it's not.
Now the genuine question is if there is any barrier to stopping this type of scam.
*There is some certain awareness but it's up to us how we use our data and personal info. We can always ensure some privacy and recheck to not get scammed. But the organization also has a huge responsibility to keep an eye if there is anyone using their name, background check of their employees, etc. After all, it's their loss if they fail to recruit the original person.*
I believe the more advance we are going in terms of technology and communication the higher the risks of data, identity theft, and scams will be. No matter how much we make rules, and regulations and aware people there would always be some gap. And scammer will find the gap.
We need to be careful about our own benefit. Otherwise, who knows
what type of future scam would be through LinkedIn? It can be more dangerous as an enormous amount of public/personal info/data are out there!
**Thanks for visiting my blog.**
Unethical Mindset and Market Manipulation - The search for the equilibrium.
Stock market manipulation is always on the top if we talk about market manipulation in general. Artificially affecting the price is a long practice in every market; from stock to crypto, we can see the same practice.
I believe we would come to agree on this point that it's not ethical at all. On the other hand, it's true that when the price serge in any market, there are some beneficiaries, marginal level assignees, or recipients who also get benefited from the impact. The truth is, if we are benefited we think it's okay but when we lose money, we raise our voices.
image source https://pixabay.com/illustrations/dices-over-newspaper-profit-2656028/
The genuine question is probably not about if it's ethical or not but rather about the equilibrium point.
*Manipulation is illegal in most cases, but it can be difficult for regulators and other authorities to detect and prove. It's unethical in general because the aim of manipulation is to mislead other market participants. However, it's true that manipulating a larger market is not easy and in most cases nearly impossible. But if the liquidity is low then it's highly unlikely that marketers will not try to manipulate it.*
I am not taking any names for reasons but if you look at even some of the Hive tokens and sub-projects then it would be clear.
Unfortunately, the consequences of manipulation are larger but hard to notice.
Because in most cases, we move on without bothering to raise our voices against such unethical practices. You will find the same people investing their money in other projects run by the same manipulator. There are thousands of examples. One is the click-to-earn type of site.
One major impact is a deduction in investment in general after manipulation and market crash, not optimized resource allocation, and finally decrease in economic growth. This hampers the whole market in general. We have seen how people who lose a high amount in dogecoin left the market.
To be honest, there will always be an unethical practice and window to do so, even if we ensure the best security and regulation. So as market participants, we can't do much but rather raise our voices so the authority can take some action against these practices.
*There must be some regulation against unnatural ways to increase the price. Nowadays, many government agencies, as well as private group, is trying to build a concrete system to detect manipulation and establish a barrier to protect the general market participants. If we fail to do so in the future, then crypto and the stock market will never be able to gain the utmost trust and be the major sector of investment.*
It's high time to pull a lash on this white-collar crime, otherwise, these types of manipulation are enough to slow down the whole economy.
**Thanks for visiting my blog.**
The Sanity of Nature in the Middle of the City.
Living in a city is tiring at the same time full of life. I can never imagine myself living anywhere else than a city. But sometimes this city man also feels like needs a break.
*This is the perfect place where I went to de-stress. This is a University campus, one of the most popular universities in my country because of its natural view. The name is* ***JahangirNagar University*** *- Bangladesh; it's located near Dhaka, the capital city. It feels like the whole university is in the middle of a huge jungle. There were ponds here and there, a lot of trees and everything is closer to nature.*
These photos are a few months old when I had a few hours' breaks there. I had some office work nearby and thought shouldn't miss the chance to visit this campus because of the natural view.
Also, because of the pandemic, there were fewer students on campus, and I got to enjoy a good quality time there with nature.
**Thanks for reading my post.**
Achieving stability through Personal finance: Taking advantage of Time.
**Except hard work, proper management, and strategy are necessary to achieve the highest level of financial growth.**
image source https://unsplash.com/photos/X_fbh4Utwk4
Time brings skill, knowledge, and asset as well; we need to be focused on growing personally. What we can achieve in our youth is more than what can be done at a later age. This is the hard truth. I'm saying this because most crypto people are young in age and they need to hear this.
Facing asset loss, failing to run a project, etc can make anyone a bad investor. If we have time we can turn that into a business person. We need time and energy to turn our dream into reality.
**Why time is so important?**
If I talk about crypto goals and achievements we need to keep in mind that time talks here. The price surge, the sudden crash everything goes with time. So if you are a crypto investor, you need to be very careful about how you use your time. Also, there are so many projects, you need to make strategies about where you are putting your time.
It goes the same with other investment sectors as well.
**I'm almost 40. And I already know what I did wrong. What effort I could put in my 30s is not possible now even if I try hard. My family has already grown, and I need to make time for them. On the other hand, I need to make more money for them as well. It's hard to come to a balance point. Moreover, to be honest I don't find the energy like in my early youth.**
The good thing is I'm not 50 so there are some left to make good use of it.
The cost of failure is too much if you don't have time. If financial growth is your goal then this is the right time. So make it now. If you are too young, find a way to build your financial profile. There's nothing like, you can make it later in life.
I know the hardship, I have been there. But don't make an excuse to accumulate more so you can achieve your financial goal. If you don't have assets now to invest in, improve your skill and grow your knowledge.
Consistency of work only can happen if you have time. Good health, asset building; everything depends on our present/now. You can't be these consistent for the rest of your life, accept this truth and work on it.
**Thanks for visiting my blog.**
Focus on Alternative Investments that can help improve Portfolio Diversification.
Keeping financial backup sounds old school but this is still the most useful thing to this day. I have seen people put in their 100% money to stock, real estate, or even crypto. I believe the old saying, don't put all of your eggs in a single basket.
What I personally found is, many of us are unaware of how we can diversify our money. Even if we have small knowledge of that, it doesn't make us ready to take the risks. It happens mostly because we refuse to put that much time and effort to master those alternatives. Truth or not?
Believe me, it's just like crypto. Remember those days, when you first joined crypto, doesn't know much about it and now you can understand most of the things quite easily? The same goes for any other alternative investments.
image source https://unsplash.com/photos/NnRIrQ1USyw
Some of the sectors where I usually invest -
Non-tradable funds and bonds.
Commodities like gold.
Term deposits in banks.
And obviously crypto.
I came to realize this is not enough as they have potentially low returns except crypto. So I need to move on to improve my portfolio diversification. Some of the few things are on my mind.
Equity offering on private companies. This seems very lucrative these days. Because most of the private companies are mostly growing and investing in them can pay a good return.
Real estate. To be honest, I don't have much knowledge about it, still learning. I have a plan to invest in this sector. These days they offer more returns than other stocks.
I believe there's no need to talk about portfolio diversification or simply putting our eggs in different baskets. For me, when one of my investment sectors goes downward, the other mostly goes upwards and I continue to get some return.
*By providing exposure to a broad range of assets, alternative investments can help us achieve growth or access sources of returns that are not tied to traditional one or two sectors. This way we automatically ensure our stability and return.*
It's true that alternative investments are more complex than other sectors. I think it's another reason for our school education. Anyway, you can always seek help from a professional if you are going to invest a good amount of money. I personally believe, the profit/return from these alternatives always works best for tax advantage and future investment.
What do you think?
**Thanks for visiting my blog.**
How I'm effectively preparing myself for the next bull market?
This bear market will last longer than we thought. There would probably be a bull run for a few days during festival time, at the end of December. But we can tag that as a temptation market not permanent.
From what I understand, the next bull run would be at the end of 2023 and in 2024. That's a long time, right? If you are not a long-term investor and do small trading only, then this is the prime time you give a second thought. Because I'm telling you a wise decision would take you two to the moon in just 2 years. Now it sounds gainful, no?
image source https://pixabay.com/illustrations/stock-exchange-bull-bear-securities-642896/
I'm going to point out a few things that I personally follow to make myself prepare for this bear market so I can have a good grip when the market takes off.
Understanding the critical crypto market. A bullish period is typically followed by a bearish period. We need to understand the cycle properly. People have done buying and now the buyers became sellers. So we came across the accumulation phase and are in the distribution phase. Another markdown and we will be at the gaining phase pretty soon, probably in a year or so. Be prepared.
As the market is almost stable, not going high and low, not crashing too much. So this is the prime time to learn more about crypto. I took this advantage to go through many new things, looking for new projects to invest in, etc. This helps a lot understand the market.
Fixing my target price. I have done selling my BTC holding at $8k. That was my biggest mistake by far. So from now on, I do fix my selling price. On the other hand, I'm buying as much as I can. It may not reflect on my blogging profile though because I'm mostly a BTC investor. I usually exchange, trade other coins, and convert everything into BTC. I'm accumulating as much as I can for the next bull run.
Focusing on the long term. While no one knows when a bear market will end, we need to be prepared. I personally believe, we need to ensure we neither buy more assets than we can afford nor run out of liquidity when we would like to purchase. This way, the fear would be limited and we will always be prepared to grab the bull run.
I know we all have different strategies. My way may differ from yours. This is what I personally found beneficial. I hope it will help someone who is looking for simple guidance. But I would suggest you do your own research before taking any decision.
**Thanks for visiting my blog.**
Fear, Greed, and Investor Sentiment - What I have learned?
Investors do not always think the same as the fact of the market at hand. Many times we reduce the cash flow though the market seems good to go and vice versa. I came to realize how much this affects stock market pricing as well as crypto. There's no alternative to learning and understanding it but the truth is, you never can predict it and can tell in advance.
A common example is the price rise during the festive period. There's a particular reason behind it but the price goes high because of the market demand. Moreover, the fear and greed index impacts a lot on investor sentiment.
For example, when I go through any marketplace, if I see a particular coin showing red candles and the compass indicating fear then I give a second thought about my holding too. Though I know that this is temporary. To be honest, I have done many waves of panic selling all because of this specific reason in the past.
image source https://alternative.me/
However, it's true that the fear and greed index is not always false. In major marketplaces, it shows the market momentum, stock price strength, market volatility, safe haven demand, etc. So we sure can trust them. But keep in mind that they are not always true as they do the index based on large data.
What I feel is, we need to make our own index because every investor has different goals. So it's better to take a look at your standing point and decide what you need to do. Because if we flow with the fear and greed index then there's a high chance that we will lose huge money and we will be another 'no value' investor who waves around the market without a high return.
But no matter how much we research, it's hard to avoid investor sentiment. We have a crypto trading group and most of the time we do invest in projects that the majority of the group members do without digging much. For example, I also invested in dogecoin. The probability of market pull and fall depends on this as well as the facts & data, as I have found.
So it's always better to look around at what is going on in the market. Not just data but what the investors are thinking. And to do so, being part of different trading groups, reading newsletters, and keeping ourselves updated about the market situation is a must.
What do you think?
**Thanks for visiting my blog.**
The hardship in crypto - Swimming or saving yourself from sinking?
Crypto is not a safe haven. It may never will. There would always be a high risk of losing our money, in scams or to the unpredictable and unstable market. On top of that, the everyday hardship in this place is enormous.
I'm not talking about who holds billions in their account but we who are commoners, trying to make a living through crypto.
If I talk about my journey it could be a storybook. hahaha. And I believe that's almost the same for everyone. Nobody came as a pro here, we all learned through our journey. And to make it clear I need to say that, I'm in the second category on the title I gave; I'm saving myself from sinking. I don't know when can I swim properly or even if that would ever be possible.
image source https://unsplash.com/photos/2qoO6WnHubA
We are in the middle of a bear and bullish market. If you have invested a good amount of money in it and waiting to make a good profit, then you may have to wait for a long. That's what going on in my case. My money is stuck here and I'm almost living paycheck to paycheck in my daily life.
Secondly, the amount of time we are putting here is not high in terms of return. Every day being updated about crypto, doing trading, and all is so much stress. The high return potential is only like a dream.
The cost of withdrawing, the fear of missing out, waiting for the right momentum; everything sucks up our energy. If you are not a long-time investor, if you don't have millions; I don't know how you are surviving.
If I talk about Crypto blogging then it totally seems like a "foggy dream". Look around, how many are trying to make a profile? But because of many many issues, it's never possible to make a good amount here if you are not anybody.
Don't tell me, it's just me who is sinking.
There's been a dark cloud in the crypto sky for a long time. We never know when we can get to see the light again. This fog is making everything difficult for us, commoners. The hardship is real here, crypto is never easy money. But the fact is, even after doing the hardship you will find yourself at the bottom.
Maybe I'm too pessimistic about it all because of my crypto experience.
What do you think? How do you feel about your crypto journey?
**Thanks for visiting my blog.**
The best riverside I have ever visited.
It was a cold winter morning; half of the city was still sleeping and we went to enjoy the riverside view. When we reach there, the sight mesmerized us. It felt like we took the best decision to visit there in the early morning otherwise we wouldn’t see this wonderful view.
'Brahmaputra'- that’s the name of the river. It’s a mighty river, it’s huge and covers part of India and Bangladesh. There was nothing much to do in that early morning. We just sat beside the river and enjoyed the calm view. There were some boats here and there, that’s it. The whole river was empty and the water was so calm. The fog, the first sunlight, and the cold weather all made magic. We enjoyed it so much.
We took Chai from a nearby small stall. I found some beautiful flowers there as well, doesn’t know the name. We chatted for a while. When it hits 9'o clocks, the place started to become crowded. There was a school nearby, and probably some offices as well. So, we left after enjoying the peaceful and calm riverside.
It was almost 10 years ago; the photo quality is not extraordinary. But I believe, you can see the beauty.
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Being committed to maintaining Financial independence - What do I personally follow?
While there can be a huge argument about what we call financial independence. It can vary from person to person but the core meaning would be somehow the same. For me, having a stable source of income, being able to spend money on our needs and desire, and reaching the point where we don't have to live penny by penny is what I call financial independence.
Achieving financial independence is totally possible but it's hard. Why? Mostly because our need also grows with our finance. So if we don't learn to limit them, there would not be any independence no matter how much we make.
image source https://unsplash.com/photos/NpTbVOkkom8
Now, we who have to run a family or simply who need to finance ourselves and no one else to depend on need to be very clear about their financial status, expenses, and everything related to it. There are a few things that I always keep in mind so I don't have to face hustle managing the end meet.
Be clear about the number. How much do you spend, how much going on food, housing, kids' education, and entertainment; you should know the exact numbers. Let your family persons know about their boundaries too.
Address your financial fear and try to be free. Don't be fearful to spend a little more if you have a backup. You know what I mean. Like if you have some savings, you can buy a costly gift at the festival. There's nothing wrong with that. But be very clear about where the money would come from.
Don't live in debt. This is a big NO for me. That's the big reason why I still don't own any house by my name. I would buy a house when I would be able to. But taking a million-dollar lean and paying it for 15-20 years is not my thing. Also, I don't borrow any money from anyone but rather live on my own. It helped me to be more clear and free financially.
Start saving. There's no alternative to maintaining independence if you don't have any backup. It's hard to do so, I know. So, I opened a saving account and deposited as much as I can every month. It's nothing much but helps me to cover expenses, medical costs, and some emergencies as well.
Keep your money reproducing. Sounds silly but it's the truth. Only depending on a fixed income will not serve us in our retirement age. Invest your money in different things and keep a flow so you can have a good backup.
There are many small things I didn't add to the points like making a short-term strategy side by side with the long-term so we don't fall behind everyday costs. As I have said, financial independence means different to us but we need to be clear about what we are meant to achieve, and what our goal is. And we should work accordingly.
The world economy is changing, and we need to be very clear about our living situation and finance. Otherwise, in the future time would be difficult for us to survive.
**Thanks for visiting my blog.**
Investing in 'Skill and Knowledge Development' - A few hacks I follow to do so.
Knowledge is the only thing that remains for us. There's no need to say how this single thing became the most important one in the recent world in the context of how the global economy is changing. Every single day new things come and what we learned in the past becomes somehow useless.
Another thing is, working on our knowledge and developing our skills. If we think about thriving our financial gain, not only our assets but also these two are most important to push us forward.
Especially if we talk about crypto then there's no alternative to learn and develop our skills as per. Just look back two years from now, and you will see how the crypto world changed over time. And there's no boundary, every day new things are coming. If we stick with our old plan and sit still, the financial gain would not be as high as we might think. Because this world is dominated by youth-minded people, so to survive skill and knowledge are the first few things.
image source https://unsplash.com/photos/8DIIXqF9v_Q
*I was once a beginner and newbie at everything especially crypto. Coming from a culture where crypto is still an 'alien', it took me a good while to learn these things. But the time is worth it. What I came to realize is building the proper mindset to learn is necessary. Otherwise, we will be playing the same old game and gain a little.*
**What do I do to learn and develop my skills?**
Reading a good amount of content every single day. Being part of the crypto, and finance community, reading the newsletter, and scrolling crypto sites helped me a lot to figure out things.
Talking with people in my chat/friend group to learn more and solve some issues or what I didn't understand properly. They may think I'm dumb but it helped me, that's the truth.
Using the learning in the real world. I have done so many micro transactions to just learn. It may sound silly but over time it helped me to understand trading better, and do things efficiently.
Putting the time and effort to learn new things. Just because I don't understand them doesn't mean I will not. I don't usually overcrowd myself with thousands of things. But I learn new things gradually.
Taking action as per my learning like building profiles in different platforms, trading in a small amount, etc. All these add up to developing practical skills.
This is like a continuous process. Building the proper mindset is necessary for this. Push yourself to look around and learn at least something new every day. Learn casually and it will help you develop gradually. As I have said, this is a survival game, and only learning and developing skills can help us thrive, otherwise, only assets can't help us reach our dream.
**Thanks for visiting my blog.**
Can we survive another crypto winter? Here's my Strategy.
The crypto market has been going through a downward trend and is almost 30% down to its all-time high. Millions lose their assets and I'm one of them. Yes, I have no shame in approving that I did miss the opportunity to sell BTC at $65k. When I finally decided to move on and liquidate my asset it was already late.
If this winter is not teaching us valuable lessons and we still didn't figure out our survival method, then it's our loss. The 'waiting' time is over, now it's high time to move on forward. Because the market is not going to push further. Some crypto though gained a little bit. But that's it, they are not moving and increasing the market cap.
image source https://unsplash.com/photos/bTBjMeCsfkM
*I personally have seen people are now more interested in investing in other assets or projects like stock and real estate. Because of the aftershock of the pandemic, now it's better to have something 'visible' in your hands. But I still believe in crypto and I think we need to find a way out from our persona level so we can survive and make some money in the meantime.*
If you agree or not, this crypto winter is the perfect time to buy more. It's not dipped but if you know, you know that crypto is not going to be this same in a couple of years. So if you are looking for long time gain, don't sell everything. Hang in there.
There's no alternative to analyzing the market. During a bear market, everything seems lucrative to buy as the price is negotiable. But keeping aside the temptation is necessary, otherwise, we will end up investing in sh*t coins.
It's okay to make an adjustment like withdrawing some, buying some more, investing in some new coins, etc. But keep yourself reminded that why you are doing so.
**Last but not least, make a plan so you don't lose further. We already learned a hard way that waiting for another all-time high is not a good idea. So I personally believe if we want to make money, we need to do it in between. Like I started trading after having the loss last market fall. And it's profitable. Make your plan, how much you want to achieve, and how much you are going to sell and invest. This will save you from falling into temptation.**
According to experts, this crypto winter will last till 2026. That's a long time. So we need to hang in there and make a long-term plan as well. Also, the price is not going to be that dip as per experts and what I understand. So nothing to worry about. Make your plan, adjust as per and you will survive this winter.
**Thanks for visiting my blog.**
'Adani' - the 3rd Richest man and the world economy: The wind of change.
India is the world's fastest-growing country with a 7.2% growth rate. And why would not it be? Millions are pushing the economy including the world's richest man. Whether you like it or not, the so-called 'developing and under developing countries are growing very fast. And this indicates an upcoming global economic shift.
There can be arguments about wealth imbalance and the impression of 'Adani'. But we can't avoid the fact that the economy is growing here and it has a huge impact on the world economy.
image source https://unsplash.com/photos/nXt5HtLmlgE
One single man brought a revolution to a country. We can't overlook his contribution to the economy. In bear eyes, it seems like nothing but if we think deeply, then it's clear that the world economy is shifting.
*Just like a decade ago, how India started to overpower the tech world. At first, everyone is shocked. But now we know that this became their core source of income and strength too. The same thing gonna happen to the economy, I believe. Now it seems simple. But in a few years or a decade, there must be a revolution that will change the way of Asian subcontinent economies and will impact global economics too.*
It's a matter of time before we will get to see the real impact of this fact. You may say, Adani was there for a long time. But look at the index, how it's changing. He is far away from Elon Musk but the growth is noticeable. As from a neighboring country, I know we all must be prepared for this upcoming shift. It can be positive like more opportunities for all. Or can be negative like overpowering all the other local businesses. But there's no agreement that the global economy will surely change for example manpower sources, stock prices as well as the crypto marketplace; everything.
Who knows, maybe it's the beginning of a new economic era!
What do you think?
**Thanks for visiting my blog.**
The appearance of every vehicle tells about its own journey.
Our roads reflect our financial and social status just like any other country. There's no fancy vehicle, nothing is posh and polished. The roads are broken, with thousands of potholes, dirt, and whatnot! It's a small country, a poor one. So the street reflects the same.
But I don't mind looking at the random vehicles while passing the roads. It's kind of a hobby, you can say, or more precisely a 'time pass'. A vehicle tells a lot about its journey.
This broken van was probably in an accident and is now abandoned on the side of the street. It's nothing new here. The accident and the abandoned vehicle; both. Bangladesh is probably one of the top countries with the highest accidental death rate. How unfortunate. Seems like nobody cares. It's noticeable if you pass the roads.
No traffic rule, random vehicle, no license; the list is long to complain about. This is the reality, the raw look of the roads of our country!
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Urbanization, Labor shortage, and Food Security - Finding the equilibrium is necessary.
Massive urbanization is killing us.
This statement seems harsh and generalized but the truth lies in it!
Everyone is rushing to have the same lifestyle, social media is playing a huge role in it. Not many want to be in the rural sights anymore. Not many youths are willing to spend time on farms, doing agricultural work. I would say, it's our fault that we proclaimed those jobs as 'odd' and not 'fine' years after year. And now we are seeing food insecurity and low farm production after many years.
You see, this is not very hard to see the connection between all these things. The unfortunate thing is, we are so very focused on making money, and keeping an urbanized lifestyle that we forgot what matters more.
image source https://unsplash.com/photos/xDwEa2kaeJA
It's plain and simple to understand that if we fail to involve more people in agriculture and farm work, we will get to see a huge output fall in the next couple of years and so. If we continue playing this lifestyle and proclaim these same thoughts for generations then there's a high chance that we will face a food supply shortage in just a few years from now.
This sounds ridiculous and reminds me of a quote, "we can't eat money."
We certainly need to find other ways.
*Now if I talk about this from my own standing point, then I must approve that the way I was brought up with no vocational and farm learning made it almost impossible to survive without a corporate job. The education system as well as social demand made us study to serve the corporate world, nothing else. So even if I wish to go back, and start doing something offgrid; it's almost impossible.*
And this is the story of millions.
The way grocery prices are searching if the government doesn't take action to give support and subsidy to the agriculture sector; it will be out of our reach. It's a matter of time before the economy will fall. Because guess what? We will not survive without bearing a minimum, that's the reality.
The situation is alarming. It's high time to think about where we are heading.
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Over the horizon.
The city looks different from over here. It seems like no more sorrow, no more tears can touch me no more. And maybe no more happy either. It feels like I'm out of everything though I know how temporary the feeling is.
It was just a 45 minutes domestic flight. I was heading to the north for some work and meeting purposes for my upcoming projects a week ago.
You may not aware of it but we have the worst traffic condition here. Only a two hour face to face meeting will take a total of 16 hours of a journey if we took the road. That's why it's better to pay some extra to fly. On the other side, it's not cost-optimizing. Because of the recent price surge, the domestic ticket price has also raises by almost $10.
Anyway, we had a safe journey. The sky was clear and we enjoyed the view. Just look at the concrete structure of the capital city. As long as our eyes could see, there are highrises. But once we head outside it, it's green again.
It made me realize how we make this city so unplanned!
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'Balanced Wealth Tax' - A solution to inflation!
Taxes that are imposed as a percentage of our net wealth is a well-accepted practice. You would pay a lower tax rate with lower net wealth and a higher tax rate with higher net wealth. Though many countries are facing challenges to implement it. Especially, in most of the so-called underdeveloped countries, there's no boundary of paying taxes on the basis of wealth. And so as, there's a high chance to getting rid of paying tax by the weather.
If we look closely, we will see that the people affected by recent global inflation are those who should pay fewer taxes according to their assets minus their liabilities. The unfortunate thing is, this is not happening and impacting negatively on how much they make at the end of the day.
In simple words, if we fail to impose a balanced wealth tax it will make the middle class and lower class pay more and get less at the end of the day.
image source https://unsplash.com/photos/OCrPJce6GPk
**Personal property, collectibles, and real estate should be included in the tax return, whereas we mostly depend on income tax. This is making the whole economy unbalanced because it's easier for the wealthy to get rid of paying more. On the other hand, if we are paying income tax in a similar percentage to the rich, then it's highly unlikely that we would make any fortune in terms of financial freedom.**
However, it's true that the wealthier have a huge contribution to the economy through investment. But this also brings the chance to engage in tax evasion. Underdeveloped countries might, for example, move their assets to another country that does not levy this tax. Also, they hold business assets so they can manipulate the economy.
We all know that it's difficult for any government to do so but it's high time we should think about it. If I say from my personal experience, then I have to approve it's getting harder for us to pay tax returns every year against our income. It would be more justified if we could pay according to a balanced wealth tax.
Moreover, fighting against inflation is a tough job. The global economy is facing the worst case right now. So authorities need to look for every solution we have. Unfortunately, they are serving the wealthier for their own benefit rather than looking for a solution that can serve everyone.
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Dollar exchange rate/devaluation of domestic currencies and our poverty line.
The exchange rate is at an all-time high in my country. We are officially getting 108 takas for $1 and a little more on unofficial sites. Just a year ago the rate was 88 taka. Can you see the difference?
It may seem like it will only impact government imports on a major scale. But the truth is, this devaluation hits much deeper.
We are paying around 30% more for grocery and daily life products but also but our income is the same.
**Poverty is the silent violence of mankind.**
This current inflation and devaluation of local currencies remind me of the quote. Because this scenario is not happening exclusively in Bangladesh but all over the world. Inflation for the lower-income consumers was between 13-21% higher than for the higher-income consumers. Understanding this equation is important because the full consequences of large devaluations depend on this.
image source https://unsplash.com/photos/TBHOuN6URGU
In simple words, this situation is making poor countries poorer. Or more precisely, the gap between the higher and lower class is increasing.
I was wondering if productivity is raising, people are making money so why we are going poor? From what I understand, it's solely because of the continuous undervaluation of domestic currencies. In other words, the overvaluation of dollars and our sole dependency on one currency. Using prevailing exchange rates has the effect of magnifying cross-country inequality by about 50 percent. This is alarming!
This decreasing poverty line will surely hit the situation of migration and refugees. So even if it doesn't impact negatively rich countries as much as us, it will create a global crisis.
My personal experience is, that the amount of financial stress we are dealing with tends to force us to do down our moral line too. We who live by the non-tradeable are facing it more because there's no other way to live without them. Devaluation causes a fall in real wages. I'm getting the same from the pandemic to till now but I'm buying more, paying almost 30%-45% more than before.
The unfortunate thing is, there's no way out. The government can't go low in terms of wages nor in terms of imports. That's why we witnessed the Sri Lanka case. I wish not to see the same happen in any other country.
We, low-income people/country can only try to save ourselves from falling from the edge!
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The ultimate color-changing aquarium.
A few days ago I went to one of my closest cousin's homes as he invited me for his daughter's birthday. The party was over, most of the guests went home, we only a few were hanging out like old days in the living room. Suddenly, this thing caught my eye. The ultimate color-changing aquarium!
It looks cute, no arguement. My concern was, that the color was changing so frequently; it was enough to disturb anyone even the fish. Also, the color was very vibrant as you can see. But I didn't pull this argument there because the aquarium was obviously for his daughter and we all were in good mood after the party. Bringing this in will ruin the evening.
But it was itching me, so I googled and found this:
> The goldfish has four kinds of cones: red, green, blue, and ultraviolet. Other fish have different numbers and kinds of cones meaning that they have the capability of seeing in color.
So maybe, we should give it a second thought before installing such things in our aquariums. I shared this info about my cousin too and he told me he will get rid of it.
What's your opinion on this?
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Are you a Crypto FOMO? Here're a few things we can do to avoid it overpowering our crypto journey.
In crypto, we get to see gain and loss every single second. It's more common here to see people earning millions in a shorter period of time than in other places. Don't lie, it sometimes makes us feel frustrated for a moment, right?
The “fear of missing out” (FOMO) is very common. It's totally okay to feel anxious seeing others having a good time in crypto or winning big. We who go trading on a regular basis, are connected with many social media groups, that keep updating us with news and events; know the hassle. It's like a 24hrs job to be in the game. All these are enough to make us feel anxious, take our mental peace, and impact our health negatively as well.
image source https://pixabay.com/photos/man-computer-stock-trading-finance-5782415/
From what I learned from my crypto journey is that if we don't grab a good grip on this 'phenomena' there's a high chance that we will be incapable of dealing with the regular crypto hassle. We never should allow FOMO to overpower our crypto journey.
The ground rule is, to understand that you can not always be the more gain. You have a personal life, sleep time, priorities, and investment strategy that varries from others. It's not humanly possible to be in the right game. We can sometimes miss some opportunities like selling at the 'all-time high' price, we can do mistakes by investing in the wrong coins, etc.
Keep reminding yourself that you are here for a long period of time. This way, you can know that losing some opportunities is okay. Know that, there are others on the same platform who were sleeping when you were making good money. So don't worry.
Build assets, don't run for the money. Again, it's sometimes impossible to avoid the temptation to not do the things at the moment like when you see someone selling every last coin at a good price. But if you look at your long-term goals and focus on building your portfolio, you can be on the right track.
From my personal understanding, we should always focus on ourselves rather than what others are doing in crypto. Don't get anxious by seeing others gain or lose. Because this crypto world is so vast, it's highly unlikely to not lose ourselves in places where we never meant to be/intended to invest. Be on your game, do your own research, and invest as per your understanding.
Don't be a crypto FOMO, enjoy your crypto journey.
**Thanks for visiting my blog.**
Crypto scam - Too common than you think! A few personal tips to avoid.
The more power crypto gets the possibility of getting scammed is also going high. Scammers are coming up with all new ideas and they look so authentic that it's hard to tell if it's not true. Replicating similar emails, websites, and phone call is nothing new. Moreover, in the crypto world, they come up with scam/fake tokens and coins also.
The truth is a crypto scam is more common than we think. Many are losing a small amount of money and don't bother it. But in this way scammers are gaining huge.
image source https://pixabay.com/illustrations/cybersecurity-cyber-hacker-fraud-7183284/
**Be smart than the scammer**, that's the one thing that can save us from getting scammed. But it's not always possible and we know why. Because we are invested in other things. But there are some patterns of scamming, it's hard to tell but you can always find out if you put that much amount of time. It takes a couple of minutes to a few hours to differentiate. But we don't do that because the scam always looks very lucrative.
From what I understand, always stay away from **Get rich quick** scamming. I mean, think, who in the world will offer their hard-earned money by giving it away to you for free?
I'm going to point out a few things to keep in mind here -
Invest and little and earn big in a few days/months: There are investment options available but look where you are investing. If the site looks fake/too good to be true; take your time.
Give away: be careful and always cross-check with others.
Fake tokens/NFT/Coin, etc: It will take newcomers a while to understand why some token price is showing high but there's always something you can look for. For example, if only a few buying is manipulating the market.
And the old phishing link: Don't fall for the 'real' looking website. Take your time to dig in more, cross-check by searching, etc.
There are many more types of scamming, Google about it and you will know ;)
From my personal experience, I have noticed that if you got a peer group or be a part of groups that are helpful to each other; you can always seek help. It can be your gaming peer, any discord group, or anything. Always ask questions, cross-check with them, and share what you have been offered. In this way, you can avoid a huge scam. Believe me, there are some good people on the other side of the planet that can save your a*s.
Invest some time in research before doing anything, any investment, exchange, or being part of the giveaway. It's always helpful. All this may seem a little difficult at the beginning. But gradually you will know so much that you can tell by looking at most of the scams that they are scams. Do your own research.
I may have skipped some tips and points. But these are the wholesome things that I have learned from my crypto experience. I hope this will help you.
**Thanks for visiting my blog.**
The true power of cryptocurrency in this shifting global economy.
From the recent pandemic to ongoing inflation, the global economy is taking a new shape. It all started with Bitcoin many years ago but the impact we are seeing now is not like before anymore. In recent years, we saw how crypto became a means of exchange in our daily life. Also, it's one of the dominating forces in terms of investment.
All these factors are enough to reshape the economy.
image source https://pixabay.com/photos/blockchain-cryptocurrency-crypto-6665635/
Crypto is not just a source of earning quick profit but it is labeled as a new asset class. The focus thing is, that many investors see cryptocurrency as an inflation hedge. In recent years, how the price is different crypto went high; for example, BTC on $65k brought much more people into crypto.
*Moreover, from an individual perspective, cryptocurrency has the potential to disrupt our lives similarly to the Internet and mobile phones over the years. It's bringing a paradigm shift in the economy. We can consider the example of the bitcoin network here. The algorithms, decentralized system, and blockchain technology make it inevitable to use as an alternative currency.*
The more global we are becoming, the less powerful our traditional currencies are going. There's no argument on this. For example, the amount of global transactions we are doing today, from the government level to an individual is enormous. And can only be reduced using crypto.
Another motivating factor is, that during a constant rise in inflation, cryptocurrency; for example- BTC, can be considered a hedge. The adoption of blockchain technology has considerably increased. Not just BTC but people are going into altcoins and tokens too because of the same reason. Investors are betting on cryptocurrency to let it become a mainstream asset because it's a win-win for everyone.
From 2020 to till date, there going an enormous change in the global economy. In the case of digital currency, it has no borders, and this one factor is forcing it to create an extreme environment for the acceptance of cryptocurrencies. This low-cost economy is a breakthrough against the traditional currency system. It's high time government understands and takes measures to adopt it effectively to make it low risks.
It's very clear that there's no way we can turn back from crypto, the current surge in the global economy. It's better to understand this and work accordingly so everyone can get benefited from this shifting economy.
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Lifestyle and social validation - It's high time to take a look at where our money goes.
We have never seen the game of survival we are seeing now. Living costs are all-time high in most parts of the world. It's up to 40% in some places in my country now. The gap between the upper and lower class is too visible which is hurting our eyes.
There's a saying that, there will be no middle class in the more modern era. And I believe so. This time made me believe this because I can compare this to my life literally.
It's vital in survival to track where our money goes. The surprising thing is, that the money flow is on the side of **discretionary spending**! We spend around 30% of our money on non-essential. It's working like self-sabotage. It's easy to say that, there's no such thing we can't live without. Like our morning coffee. But when we try to apply this in our daily life, it's hard to swallow.
image source https://unsplash.com/photos/m2z2wJ1XX6Q
How many of us can sacrifice the lifestyle we have now? How many of you can get rid of the mentality to seek social validation? Maybe some new boomers can do a few but for Millennials, it's in their DNA. I'm not pointing out that they are not smart or anything but this is what it is. Because this is how we grew up and we never knew the alternatives.
It's high time to segregate our expenditure. Mandatory spending, discretionary spending, and interest on the debt; take a look at where your money goes before it's too late. Housing, followed by groceries, utilities, and health; these are the major sectors we need to put our money on, otherwise, there will be no room for us to survive. It's for our best if we can cut the costs on the vehicle, luxury lifestyles, and sometimes entertainment too. If you don't make a few deposits to your retirement plan, then I'm telling you, you will be out of the game very soon!
Things are getting harder and it will be much more in the future. It's important to note, that additional discretionary expenses are as high as 30% according to some research. If you are not rich enough, this strategy will not help you survive the risks of inflation.
Hard to take it, we go crazy about being mentally poor. But this should be in our minds now. I'm talking mostly about the middle class who doesn't have much as a backup. If you don't cut the additional costs on lifestyle and social validation, you can't survive in the future.
Point out what can you go without and beyond your actual need.
Many of us survive paycheck to paycheck and maintain a 'good' lifestyle. The truth is we are just one paycheck away from falling over our own house of cards.
**Thanks for reading my blog.**
Dragonfly.
I found a dragon fry today while watering our plants on the rooftop. I'm not a good photographer, and also don't own a high-function mobile/camera. But still tried to take some clear pictures. The good thing is, that dragonflies usually stay still when they rest on something.
I took the shot with my Samsung a13. The last macro shot is my favorite.
The afternoon was quiet and peaceful. I managed to come back from the office after many many days. It felt so nice up there on the rooftop. The weather was nice and windy. And this dragonfly made it extra special.
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Percentage Gain or Loss on an Investment - Calculation and a few personal tips.
I don't know how many of you maintain a datasheet of your investment but it's very effective. You can have a cumulative idea of where is your money going, the pattern of investment, and many more. But doing this from the early stage of your investment is not easy. Many of us don't give it a second thought and randomly put our money here and there. Tell me I'm not the only one.
Later, I understood how much important it is to do things with pen and paper. Nowadays there are many trusted apps also where you can input your amount and they will do the calculation and make a datasheet for you.
I'm going to share how I do it easily so you can follow.
To calculate the percentage gain on an investment, investors need to first determine the purchase price. For example, if you are buying $500 crypto that would be your initial costs. The same applies to stock or real state. The amount you are reinvesting needs to calculate separately.
Then the purchase price needs to be subtracted from the selling price to obtain the gain or loss on the investment. Divide it by the original amount of the investment or purchase price and multiply the result by 100 to get the percentage change in the investment.
The equation will look like this.
**Investment percentage gain = Price sold - perchage price / original amount * 100**
The calculation is very easy but doing this in every step of our investment is not.
Why I am saying so?
*I'm mostly talking about the crypto perspective. Because in crypto the price varies from time to time. If you are a regular treader, it's hard to track everything and remember the initial price of your investment. We can only have a wholesome idea about if we are gaining or losing by looking at the portfolio. But having the exact number is always better than this, right?*
Investing does not come without costs, and this should be reflected in the calculation of percentage gain or loss. Otherwise, there's a high chance that we would unknowingly make the same mistake again and again. Also, we may lose the chance to win a small amount if we don't track what is giving us better earnings.
For me, people who have invested in multiple sectors need this most to do a comparison and have a sheet to take a glance at where they are gaining and losing their money.
It's our money, we need to take care of it.
image source https://unsplash.com/photos/jrh5lAq-mIs
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Trying the hyped 'Malai Tea'.
Cha/chai/tea is part of our culture and traditions. I'm a regular consumer of tea, at least 3 times a day. Especially every afternoon it's a must to have a cup of tea.
Recently, I tried this fancy tea in a small cafe. It's called Malai Tea or Matka Tea. The thick milk is called Malai and the pot they serve the tea in is called Matka. Also, they brought a fusion by adding some sprinkles of chocolate and powdered milk. The taste was kind of alien but it's quite enjoyable.
We paid $.40 per cup/pot. Also, they had a few snacks there and soft drinks as well. We were 8 friends there so it was quite a hangout. Some other friends of mine ordered mango juice as well.
The cafe is not so popular but we enjoyed the ambient. I may again visit the place shortly.
**Thanks for visiting my blog.**
Solar Energy - A potential business model for the future.
There's an energy revolution going on behind our eyes. The last time I visited our rural areas, I felt it in my heart. And it's necessary.
I'm talking about solar power. It became a vital source of energy in many countries, especially those that we tagged as 'underdeveloped'. And it's for the better. Because it revolutionized our lifestyle, not only it fuels the economy to the next level.
Back then when rural markets used to shut down after sunset because of power shortages/power cuts. But now, they are all solar power, doing their business independently.
image link https://unsplash.com/photos/Fpcy-AdFhUg
*On top of everything, it's a new business model for many. I have never seen so many solar power-based projects/small organizations/entrepreneurs before. Hundreds and thousands of young people invest in this, building their own businesses. There are many solar consultancy farms, solar product sellers, solar product-based marketing agencies, and whatnot.*
It truly gave me hope. Because the traditional fuel price is skyrocketing every day. Unfortunate thing is, the government never thought about inventing in soalr or building this alternative power source, intentionally or unintentionally. So now when we are running shortage of energy, we have nothing to fight back/survive. We who live in the cities depend on the traditional fuel only in our daily life feels it the most. Because no matter what the price is, we still have to buy it because we don't have any other alternatives.
**This is where the solar power-based business model can boom!**
In a country like ours where sunlight is available for more than 9 months, it's very unfortunate that we can't make good use of it. Fortunately, many entrepreneurs and nongovernmental organization is working on this. And a new business model is growing up.
**From Solar dealers and distributors to installers and engineers, from manufacturing organizations to project developers and marketing agencies; everyone is benefited from it by giving the customers an independent source of energy production.**
Getting more people to use these services, and building great relationships with the people who invest in these services and who might be future customers can not only solve a huge problem but also is a solution to unemployment.
This business model can bring a huge positive impact on the economy as well.
What do you say?
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Rickshaw - Our Local manual Vehicle.
2022 but we still use man-pulled vehicles. I know, it sounds wired but this is the truth. Bangladesh is the country of rickshaws, every city has thousands of them. And millions of people survive by pulling rickshaws.
There can be a debate on if it should be abolished or not. From the government perspective, as long as we can't be trained/grow skilled labor, the job of rickshaw puller can't be abolished. Because it's their source of bread and butter.
Keeping aside the argument, the rickshaw is kind of our national ride. As a developing country, many can't afford their private vehicle. We use rickshaws for short distances. The ride may not seem very comfortable to you. But we are used to it.
Moreover, the art and paint behind the vehicle are amazing. It's our heritage and is recognized by many organizations as a form of traditional art.
I like how I can enjoy the open sky over my head, the wind, and sometimes the rain while riding a rickshaw. It's kinda fun.
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@Iamjohn
