Perfectly OK for you to go off, I enjoyed the read... :)
Funny you mention mindset because this is where I've seen the most change over the past 6 months and I've increased my knowledge 10 fold in that time. Before then, I was the equivalent of someone covering their ears, singing 'la la la' to block out all the information I didn't understand. A huge learning curve for someone who had literally no idea about finances.
In my situation, I don't have a lot of disposable income to play with however I do know that I'm really good at making small, regular payments (especially when I can see long-term benefits),
AND as someone who doesn't have any investments other than superannuation, Crypto offers me a possibility. This may be my last opportunity in life, to really take control of my finances and direct my future rather than waiting for the future to happen.
Still a gamble, I know... but one I'm willing to take :D
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Yeah man, mindset is probably more valuable long term and if you can get out of your wonderfully described "la la la" approach (I was there at one point too haha), then you'll see a lot of things differently and opportunities you never knew existed. It's hard to describe in words but it's a feeling that once you experience it, you just know it!
I've been sticking to those little payments in myself and, if you can, try not to check back often (says the person who is checking portfolios every day haha). As long as what you're investing is not going to be missed then you're doing the least stressful way, which is my preferred approach too!
Superannuation... that sounds like you're from Australia as I've only seen that word used to describe a "pension" type scheme when I was eyeing up the possibility of moving out there - I'm in the same boat really in the UK. Didn't have any stocks/shares, I can't afford a house so crypto gave me a possibility but I've learned a lot more about finances - sounds like we have a very similar approach!
Same man! I'd rather take the gamble than just lose purchasing power in a <1% interest rate (some cases, 0.01%) account, although having some cash in reserve is always a good plan! The so called "rainy day" fund!
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Yes, guilty as charged... an Australian here! Superannuation is a pension fund that you (or your employer) pay into during your working life in order to have a lump-sum available when you retire.
Being able to enter the crypto-arena with such a small outlay was the golden ticket for me. I have always been priced out of the market with not having enough cash to jump into traditional investments such as property and I don't trust or know enough about the stock market to dabble there.
In fact, my very first transaction was purchased to increase my voting power, I really didn't consider the investment side of things until much later. (for this Hive will always have my heart)
The smaller payments, as you say, cause less stress in the decision making process and I also find it much easier to watch the highs and lows, knowing that its not really affecting my small stack too much. Being money that I won't miss, they could all go to $0 and it would still only be a lesson and not a total disaster.
Funny story, last week I was at my local club with some friends when they asked if I going to play the pokies (slot machines). At first I thought, 'yeah, why not?' but I decided against throwing my money into that hole and instead, went home and bought $20 worth of ETH.
BTW how often is too often? haha :P
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Same feeling here man! You pick things up as you realise all that's available just by staking - more than just interest on your account but voting rewards are pretty cool too!
Yeah man! That's exactly the same thing that happens to me haha! I got asked if I want to go for a few drinks (when lockdown restrictions were less) and I'm like... well... I could use that 20 to buy some Bitcoin with so I'll just stick to tap water or be the designated driver, can even ask for a little petrol money as well to fuel the next lot of micro purchases of BTC!
LOL! What's too often? I honestly don't know, I mean, I now check once every 10 minutes as opposed to every minute so my restraint is improving 10x although wouldn't call myself a role model on that front :D
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This really made me LOL; so you mean it's completely normal behaviour haha
Having said that, checking in a bit too often has given me some understanding of the ups and downs that happen even just within a day.
I've made some rookie mistakes and realised that at times, if I'd waited an hour, I could have bought at the daily low point... but I've also had some beginners luck with couple of lower-priced alts.
More importantly, as my investment grows I'm starting to think more and more about security which is probably the most important step for me to easily learn right now, so I don't have to learn it the hard way ;)
Looking into buying a hardware wallet and then, once I understand how that works, I'm thinking I might buy one for my sister too, give it to her for her birthday.
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