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RE: The Two Sides To Banking Handling Crypto

in HODL2 months ago

Brrrr the world bank gives me goosebumps lol. I dislike banks since I was little. No no no, you won't ever see me take a loan from a bank. Never ever ever. I would have nothing against owning a bank ahahha, but being in debt because of that... Nop.

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I'm the same, I would have sleepless nights if I had debt, I've had like small loans on a credit card before and all I wanted to do was clear it as soon as possible. I prefer using what I have and if I can't afford something ill save for it.

You are a bank, if you hold crypto lol You own the funds no one can take it from you!

!ENGAGE 20

Ah I am happy that you managed to pay out debt! Credit cards are the worst temptation to have in a house, it gives you a false feeling of money you never actually own. I believe that a lot of innocent people drowned themselves into debt by making small purchases on credit card. It's like giving candy to a diabetic.

I agree on buying what you can afford with straight up cold cash. I remember reading somewhere something like this : if you can't buy it twice, then you can't afford it. Ah.... So true somehow.

I believe that it takes a great amount of maturity and a delay of gratification to be able to resist in front of the collective urge to buy more stuff. We actually pay the stuff we have with our time, with tiny bits of our lives. Then as time passes by we realize we want more time with our loved ones, but we are stuck in debt paying the stuff we once liked and now we don't. This continuos desire for more stuff is the downfall of humans. I rather fill my life with moments and experiences rather than paying debt. Most want vacations, luxury life, with a credit card. They would be so much better if they would make the hard work of saying no to spending and yes to saving.

Crypto has potential indeed. No matter the curency, if the spending habits don't change, one may still end up poor and struggling. It is not the amounts but the way of how you spend what you have is what it counts.

!ENGAGE 10

I LOVE this, if you can't buy it twice you can't afford it, I live my life by that line and many people call me nuts but I'll stick to it and you stick to what you do and we all happy.

Also, dammmmn you're on fire today, I LOVE LOVE LOVE this one, it's so true, no sense in trying to make money in crypto if all you plan to do is give it away for cars and fancy things, it defeats the purpose. This is why I am all for, get rich slow, by the time you are wealthy you've learned all these lessons and value the journey and the money more and won't spend it on silly things.

I think the first thing before you start investing is first change your spending habits and your views on money. You've got the formula, I want to just jump in your brain and swim around in it

Hahahaha we think very much alike! I'm happy about that! It is my life philosophy. If someone has a bad one, then they will make bad decisions.

One needs discipline and commitment to analyse their spending and envision a good future. You are swimming in this idea and I am sure you like it.

You know, another good saying of Jim Rohn comes in handy in here. And I so so agree with it. He said that if someone gives you a million dollars, you better start learning how to be a millionaire if you want to keep them. That being said in regards to one's attitude towards spending.

These habits are learned from family. Some parents lack financial education themselves, so no wonder they encourage their kids "hey kid, take a loan, like everybody does". Lame and sad. We can do better. I think one has to assume responsibility as an adult. Even if you didn't have the right parents, family circumstances, you can always self educate. There were a lot of historical figures who turned rich through sheer power of self education and DISCIPLINE. Yup, this is my favourite word lol❤️❤️❤️

I agree it's said the definition of insanity is doing the same thing over and over, yet we do that to each generation and force them into the same mistakes for the sake of consensus of normality and what "worked" even if the outcome wasn't that great. People cannot see what they lost by making poor financial decisions only what they gained.

That's so true, about learning to get a millionaire mindset before becoming financially free, they say give a rich man $5 and he will find away to make $10 but give a poor man $5 and it will be in the rich mans pocket by the end of the day. In the end money is just a way to measure the value of your effort and time, if you throw it away you clearly don't value yourself and your time

You could have used that to have leisure time or spoil your loved ones. Making money takes talent, keeping money takes brains and discipline.

I might struggle with my sugar fixes but when it comes to finances I run a tight ship

Yes, getting the right mindset is very important. It all starts from how you spend 1 dollar. Then the good things will follow. Usually the mistake of poor people is their desire to look rich when they barely have 1 dollar in their pocket.

LOL that is so true, people want to look rich and be rich for all the wrong reasons. I hardly hear people say I want to be rich so I can change things or make others lives better, nope they just want to be rich so they can give that money away for stuff and make that person selling the stuff richer lol

That is true. It is sad to see people being so selfish and lack a vision for future generations

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