My prudence mechanism...
A few weeks ago I got a loving verbal beating from my older brother about not being able to handle my finances myself. He complained because I always call him when I need to withdraw money from Hive and as much as he has tried to teach me (even wrote a post about it, I'm sure with me in mind), I've refused to learn.
I have my reasons. It's part of my prudence mechanism. I have this feeling that if I learn how to do these transfers and withdrawals, I'll be setting myself up for excuses and an empty wallet.
However, I might be wrong.
I recently realized that I'm in the category of humans who could stay for days without spending and then make an outrageous purchase one day that'll counter all the days I stayed without spending.
Today happened to be one of those days. I had initially gone the entire week without spending any money and then, out of nowhere, I made a silly purchase of food that wasn't even necessary.
Sometimes, I have regrets about days like these but I always compensate myself with the fact that I deserve a little lavish expense on myself once in a while.
For this reason, I have refused to learn how to take out money from my Hive wallet. The funny thing is, I know how to but I'm not letting myself trust me enough to do it.
Maybe I'll write a post about it, just to be sure that the steps in my head are correct just to be sure I know what I think I know.
Spending crypto
I consider crypto to be a long-term investment. For this reason, whenever I make a withdrawal, I feel like I'm taking my future lightly.
I have no other major investments asides from my investment in my skills, so I might as well take this bit of my life seriously.
For this reason, I always stake my rewards. I don't even think about it too hard before staking.
I'm letting myself believe that when I reach my target of 500 Hive and 1,000 Leo I might just get myself something nice to thank myself for reaching a goal. But I guess I don't know how I'll react until I get there.
Personal finance
Personal finance means a lot to me. This goes beyond just earning money. I don't really care how much a person earns but I want to know that you know how to spend your money.
This is for 2 reasons.
The first is so you can take care of yourself, and the second is so you don't be a liability to me.
A person earning over a million dollars is just as broke as someone who earns less than a thousand. You can easily lose it all if you're head isn't stable enough to handle your finance.
I'd hate to be linked to a person who loses all their money due to financial ignorance. It's not a pretty thought. I have a financial saviour complex I'm trying to get out of, I'd rather not push my luck.
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Posted Using LeoFinance Beta
This is very interesting at first I was like their must be something wrong in your level of understanding things,but as I proceed further I got to see the point at which you re coming from which is arguably the best someone can think of.
Saving our investment is part of life and just like you said it is a perfect way of planning for the future in which I agree with you as someone might try to keep and not save ,it is not bad at times if you try to feed yourself from your investment,just like you talk about lavish spending,but to me might not really be a lavish one like that,but maybe eating good and quality food just like a friend do tell me.
To be financially wise and prudent is much more better to be hard working ,cause the hard work becomes useless when their is no brain 🧠 to save the income or manage the investment well.
Thanks for sharing this