How many times did you hear this saying from the title? How many times did you say it? Or maybe you didn't say it, but you treat these assets differently... And not just assets, but the same thing in a different form... Btw. I have recorded this video 2-3 days ago and mentioned BTC at 11K, but today it's way over that... Also, in the meantime, @achim03 created an awesome vlog about the price of crypto and how should we measure it... Check it out as it's an awesome watch and read!
In this video, I went a bit into the "feeling of money"... How we act when we use money, how we treat different forms of money... If we take a look just 20-30 years ago, everyone was using wallets... We had a couple of saying for rich people, like people with "fat wallets"... If you didn't feel your wallet in your pocket, that means that it's empty, which meant that you should pay attention to how do you spend your last pennies...
Lately, there are fewer people using cash... We have almost forgotten how money looks like... Everyone is with credit cards, debit cards, mobile payments... crypto... And when you are paying for something with a credit card, somehow that feeling is different... Especially if you were using cash in the past... I suppose that younger people don't have that problem... Is that good or bad, don't know...
But, paying with cards, or crypto is different... Personally, I have a weird feeling like I'm not spending money... As I don't see it, don't feel it, and don't have that give-and-take money process... lol... Somehow, it's so easy and comfy to SPEND money, as we don't appreciate it that much as we did before... And it's a dangerous field as it can be disastrous for us...
Check out the video for more details...
Thank you for your valuable time,
~ph~
Music in video:
Growing Up by Scott Buckley https://soundcloud.com/scottbuckley
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▶️ 3Speak
Thanks a lot for the shout out Zoltan. I think that our mindest is often dominated by the currency of the country that we live in. We tend to exchange everything into this currency in our mind when we want to buy something abroad or on the internet. This is normal, it's our measuring thing. However I believe that it's a good idea to question this currency and maybe look at other currencies with a more open mindest.
I had similar experiences when I used BTC that I earned to invest in projects because I didn't think I was using money. I realise today that my mindest has evolved a lot. I take great care of my btc and value them even more than my local currency.
On hive we have the amazing possibility to actually earn money. In addition there are all these second layer coins that have value as well. When it's getting more and more difficult to earn money in the traditional economy, this takes a whole new importance. If we look long term we should not think about how to exchange these tokens for fiat money but we should come up with ways so that we can use these tokens to purchase prodcuts and goods...
It is a good idea to QUESTION EVERYTHING in the world at the moment... There are so many lies and deceiving... I don't know if that was the case in history, but this is getting ridiculous...
Well, this is the final goal... At least for me... Working all for crypto, and spending it without thinking about fiat at all... I think that I saw some crypto-card that does that... exchange your crypto directly when you are making payments...
You are welcome for the mention... It was a great post, and I had to mention it... :)
I remember having a credit card in college & oh boy, did I have fun with that card, spending it to the max. Then I paid it off; only to use it once again since it was so easy to use without FEELING the pain of cash leaving my hands. Again, I spent it to the max. LMAO. My mom, God bless her, helped me budget to pay it off the second time & that was the last time I ever used a credit card. For me, lesson learned.
Now, that I am older & wiser in that area of my life, I am quite the opposite. I have an emergency fund as well as a small savings I try to add to. However, seeing the decline of fiat, crypto is now more my focus. I am accumulating it & about to get a debit card for one of my accounts to get a feel for the use case of paying bills or buying food with it. This will help me continue to cement the fact that crypto IS real money & can be used for these things...
As you said, it takes a certain discipline & appreciation for what you earn & HOW you use it; how wisely we use it. I am always looking for that balance in between saving/investing & using it for everyday things as my accumulation grows, especially with HIVE, LEO & CTP tokens.....
Awesome video, Zoltan! :) I like these financial ones you are doing. :) And @achim03 did a great job on his as well. Respect to both of you! 🧡
Sometimes, when I read other's testimonials about their credit-card histories, I'm thankful for my parents that didn't have any... lol... I didn't experienced these "beauties" of having a credit card in my college days, but I had 2-3 loans when I opened my companies... But, that's a different story...
Yes, as we are getting more involved in the crypto, and fiat money is being printed every day, we start to get some things which one can be more valuable in the future... At the moment when we will need it the most...
Thanks for the comment, and I can't compete with @achim03 Swiss bank-knowledge, so hats-off for his great posts about finances... It's good to have a friend like him close to us in difficult times... :) :)
Speaking about difficult times... The government just ordered me to close my business again... I will have some more time to spend on hive...lol
that sucks big time... :( I mean, it's good that you will be on Hive, but it sucks that you have to close your biz... Will you get some help from the government while you are not working?
Yes it definitely sucks. The worst was that they announced it yesterday with effect today! Probably I will get some help to pay the salaries of my employees but my salary and all the other costs are not covered... I'm in need of a plan B...lol
huh... That's not good at all... I hope we will put some good cornerstones to this community and build up things to be a decent Plan B
Oh no I am so sorry to hear that! Like Zoltan said, we are glad you will be on HIVE, of course, but hope you will be ok otherwise :( If we can help, even just as support, let us know.🙏🏻💚
Thanks a lot for your support Jenn. At the moment I'm fine. I've a lot of stress to cancell all the reservations for the next days and to make shure that everybody knows that we are closed. Next step will be to try to save as much costs as possible and also to develop my business on Hive ;-). There I will be very happy to be able to count on your support :-).
I have a very long relationship with credit cards and not all of it has been good. I have had to file bankruptcy once and still didn't completely learn my lesson. To make a very long story short, we now have two credit cards, one is used for household stuff like grocery shopping, gas etc. We never carry a balance on it and we get points that we accumulate and roll over to pay off a balance. The other is the one I use for my online business so I can keep all my ducks in row for tax time. That also gets paid off every month and I use the points to roll over onto the balance for it. I also, used to believe that I wasn't really spending money when I was using a credit card and always believed I could manage it. We are lucky to live in an area where the cost of living is pretty reasonable by comparison.
As far as crypto is concerned, I love the concept of being able to earn it and use it to help other people earn and build online . Before CTP relaunched I joined Bitcoin Bully. That was interesting because until then I thought Bitcoin was something from the dark web that only criminals used. LOL Boy am I getting an education. I can't even imagine trying to explain all this to my Dad who is 89 years old and still has cash stashed around the house that he pays us with for getting his groceries.
I'm not here to preach or teach, but I would try to move from the creditcard mentality to debitcard one... I know it is hard to get out of debt and move to savings, but it's definitelly less stressful in the long run...
I like cash... Comparing with using credit cards, I would say that your father is doing a good job... :) Maybe it will better to move that money to crypto, but it's defitely better in his stash than in a bank... :)
Wish you a great weekend, Lisa and thanks for passing by!
You're welcome, Zoltan. I do agree that living debt free is way less stressful. We are in a pretty good place right now but it can always be better. Hope you're having a great week! 😀
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@lisamgentile1961
___
Point taken. What is this leofinance thing
It's like a CTPTalk.com... Tribe on Hive.. You can find it here: https://leofinance.io/
Ok thanks. Does it have different requirements
I remember that feeling when debit cards first came.
Wasn't even like money until you check the bank balance.
Now is the US I have the Uphold debit card.
It spends my crypto......not even money.
Very weird.
Haven't used it yet though, as I like watching the tokens adding up on it.
How in the world do you explain crypto to a child?
I think that they will soon explain that to us... lol... They will not know how a dollar bill looks like, but they will know about crypto more than we know... :)
Thanks for a great video @ph1102, and a very interesting topic, cards with credit can be very dangerous if we lose sight of what it is, a loan that needs to be paid back, I have not really thought about crypto in the same light, mostly because I am really only into Hive and Hive-engine tokens, and here we have staked and liquid tokens, plus passive and active income, and if I spend all liquid I will get more the next day while not touching my stake, and it's not like I spend them on shiny objects either, but what is needed for my projects and for my affiliate marketing and to grow my passive income, but that is just my thoughts, keep up your great work, it's awesome.
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Firstly, thanks for the pick! I really appreciate the support!
This is a very important poing.. It is a loan, and usually, it is a very EXPENSIVE loan... People forget that fees on creditcards are much bigger than for a simple loan... But, banks "get" people on the "more comfy" feeling of spending with one plastic thing...
And regarding crypto, I hope that the way of spending it that you have described will be the way of living soon... I would like to live from my liquid Hive, and stake the half for a long run... We will see how it goes in the next year or two...
Cheers!