Markets Collapsing: Is now the time to worry about costs or earnings?

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There is doom and gloom in the air right now as markets fall with fears of global slowdown...

I was reading an interesting thread on LinkedIn earlier in which someone posted that whilst their monthly electricity bill had risen from £300 to £900 (!), this wasn't the time to worry about reducing electricity usage and other bills but rather to focus on increasing earnings.

As cutting costs has limited upside whereas increasing income has unlimited upside.

This created a load of squabbling in the comments as some argued that this was an elitist view and that minimum wage earners had no chance etc etc.

Although I can see both points of view, I have to side with the author of the post. After all, so much of success in life is down to mindset. And the reductionist perspective of cutting costs screams of scarcity, whereas the focus on increasing income screams of abundance. Who's gonna win in life...?

I think being on blockchains like Hive helps contribute to a mindset of abundance as the potential here is huge - and some are living examples of what is possible in building your stake.

So in my view, it's time to get our heads down and increase our earnings. Of course, cut unnecessary costs where possible but I won't be making this my priority.

Which side do you sit in this debate?



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6 comments
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Adding to our stack of Hive is a part of the solution for the future… For today I would say, try to reduce electricity usage, by making small adjustments.

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taking part in one is very interesting and having said that I live in a country where a minimum wage is not enough, like Venezuela, but that does not prevent me from wanting to grow as much as possible, I think it is time to concentrate on generating more profits and with it more and better earnings so I have to sit on the side of those of us who want to progress and are not conformists.

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