To start off, the lead image is just a screenshot of the current price of the BCH before I publish this article.
A few days and weeks ago I have read articles from different users on how they used their earnings here on read.cash. You probably have read some articles about it as well. I have been on this platform for 8 months and I am proud to say that I have used my earnings for my debts. I was also able to HODL some BCH when I started but unfortunately I "may" have lost it when my phone died on me a few months back. I needed to give emphasis on the word, may, because I am still hoping that I can retrieve my wallets if I will bring my phone to a service center.
Let's move on from that as I can still remember how much I have lost. LOL. It was so painful that I wanted to quit blogging and my crypto journey. So in case you have not yet written down your seed phrases, better write it down NOW.
Seriously let's move on from that. LOL. How many months have you been here on this platform? Do you HODL your BCH or do you spent it on something or both? Where did you spend it? If you are doing both, how do you do it?
A month before that unfortunate event happened to me, I tried transferring my earnings that I have got from days 1-15 in my Coins.ph wallet. Then my earnings from the 16th until the end of the month were transferred to my Bitcoin.com. Obviously, the BCH on my Coins.ph were meant for my debts. If it exceeded my monthly bills, that is the time that I can buy some of my needs or wants on Shopee or eat my food cravings and treat my family at the same time. For the BCH on my Bitcoin.com, you can check what is inside my wallet. With my bank accounts as well as my savings on GCash, I allotted Php200 per account per month. Though there were months that I was not able to deposit on it just like last month. So for this month, I have to make up for it. Instead of depositing Php200, I need to deposit Php400. Maybe you are wondering why I was not able to deposit on my savings accounts last month. I prioritized some things other than my debts. Was it more important than my savings account? Yes, for me it was.
That was how I managed my earnings then and now. I remembered @kingofreview's 50/30/20 rule on how he spends his BCH. Of course I was back to zero when I started my crypto journey again. Good thing that I had a few BCH on my wallet here. That month, most of my earnings were meant for my debts since I was MIA for a week. There was no way that I can produce that big amount of money in few days. The following month was also the same but little by little, I tried to cover up for what may have been lost. If my earnings from 1-15 did not reach my expected amount, I would get from my earnings from the second half of the month. So the remaining will be what I will spend for saving.
I am sure that you have heard of Warren Buffett's saying, "Do not save what is left after spending; instead spend what is left after saving". In my case, I cannot do that especially because I have started from zero. Currently my only source of income are read.cash and noise.cash. If I do not have any monthly obligations, I will be able to spend my earnings after saving. But right now, I have no other choice but to save what is left after spending.
But this month of August, I do not know what came to my head but I changed my style. I would transfer $20 worth of BCH to my Coins.ph and Bitcoin.com wallets alternately. It is now August 14 and the only money that I have sent to my Coins.ph are intended for my phone bill and my mom's birthday cake. Do I smell trouble? I DO. LOL. I have already paid my phone bill a few days ago. Only money left is for my mom's cake. The next transfer would be sent to my Bitcoin.com's wallet.
My credit card's due date is on the 29th. Cuckoo! Cuckoo! Time is ticking. LOL. I am worried. I am pressured. I am stressed. What adds to my stress was the money for the cake was not enough because the specific cake that my mom wanted was not available during the whole time of the ECQ (Enhanced Community Quarantine). I tried searching for a different cake through Grab this afternoon and most cakes were priced above my budget. She's trying to refrain from chocolates or anything that is sweet because of what happened to her foot. The doctor said that her sugar might have spiked up again. She does not have diabetes but her sugar was high prior to her hospitalization before. If only the cake that she wanted was available, I wpuld not have a problem right now. Since this afternoon, I was thinking if I am going to transfer my earnings to my Coins.ph or Bitcoin.com's wallet. Am I complicating my life with just a simple problem? LOL. Sometimes I am OC/OCD (obsessive-compulsive disorder) in some things. I have started with the alternate transfers so I want it to be alternate throughout the whole month. Where do you think should I transfer my $20? Most likely it would be in Coins.ph. LOL. Then I would probably just try to do the alternate transfers after I have cleared my debts.
Like I have said, it is already the 14th and I still do not have anything for my credit card. A part of me wants to cry and a part of me just want to laugh. Deep inside I am really worried but I know that I will be able to pay it on time.
We all have different reasons why we want to earn. Whether you HODL, stake or spend your BCH, it is all up to you. If you spend it, I hope that you get to save even a little portion of your hard earned money whether in fiat, in BCH or both. But for me, I suggest both. It depends on how much you want to save. You can follow Warren Buffett's advice if you deem it is applicable for you. Just keep in mind your priorities. Needs versus wants.
Luckily my wife and I both have regular, good paying jobs, and we also make hefty amounts of income from our investments in the stock market. So, for us, crypto is just an 'extra,' if you will. So far, any crypto I have bought and gained on or earned in places like this I have held onto. But at some point if the gains become enough, I will likely yank some out and put it into high yield investments in the stock market just to help to make the gains worth more, and of course to preserve some of the capital.