Vlog 235: Investing in consumers goods + Waiting for the markets to choose direction.
I like to invest in good projects on the blockchain but also in consumer goods in my own life that will last a long time.
The money you don't have to spend (in the future) is money earned (in the future).
For example, I bought a very good electric clipper thing for my hair. It cost around $80.
Enough money to get me 4 haircuts at the barber.
But after 4 sessions at home, I'm break-even on my investment. And from then on it's earning money (I don't have to spend).
The money I don't have to spend I can now reinvest in something else.
If you have family members at home that can also use this device it goes even faster.
I know this is a simple example but this how I look at consumer goods.
I also look at the quality of the product, how often I use it, if it can save me time and how much joy it will bring me.
Yesterday I was hoping BTC would break through $12000, it was looking strong for a moment but it came back down.
I hear a lot of bullish stories but unless I see this signal myself I'm not buying.
I'm still waiting, investing in crypto is a patient game.
Yesterday I got some questions how I change my SBD's to other cryptos.
I use blocktrades.us to change SBD to Dash or BTC.
They charge a fee but I don't mind because it's very convenient.
You can also use Bittrex (exchange) for instance but I never do.
I talk about it more in my vlog.
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I love that simple practical approach to INVESTING!
The truth is that investing has MANY levels and for me I see that "simply" as making food at home. We make EPIC FEASTS at home which would cost HUNDREDS of dollars if we were to go to a Resturant as a group yet cost us almost nothing but a bit of time.
Then all that money we save we can INVEST in something else like CRYPTOS!!!
Well said, man!
Thanks!
Though all I am reiterating is what YOU said!
I have been living this way for 17 years and while I may not be the richest man in the world I haven't had to work for someone in 17 years and live an abundant, free and happy life!
That is in great deal to me considering the long term 'investment" of life it self. Most people spend most of their money on food, rent or "haircuts" the basics of life and then have little to leverage/invest and don't go anywhere because all their money is spent by the time they make it!
Thanks for sharing this simple example as it is actually MORE important to most normal folks as most normal folks don't have 1k to invest in cryptos.
Though when they SAVE 1k from SPENDING it then they can INVEST it!
I totally concur with you that investment is just the best thing one can ever make do with his cash. I'm going to relate this to a particular book I read titled "Rich Dad, Poor dad". You might have millions of dollars in your hand and if you don't know how to invest it, then I can certainly say you are a "poor dad" because your future is not guaranteed without investment and if someone else who has just a hundred dollars invest it very well, then he's quite good as being rich.
Investment is the key to a brighter future.
I just make a post.. Please upvote https://steemit.com/poetry/@dtwo/imagination
Very good thinking - I can totally identify with - buy best quality often turns out to be the cheapest long term. I had that with my garden watering system - you can have everything plastic and it breaks in a year or two or you can spend 5x as much and have everything solid for a life time.
The clipper thing is a good example on why to invest in consumer goods and try to save money in the future. The idea is to spend now to avoid spending much more in the future
I used to think like you about buying quality products. Unfortunately, I have lived to an old age with the same good "stuff". Now I look for a bit more variety. I still own stuff from the 1970s.
Do you still use the stuff you bought in the 70's? Is there better out there now?
Mostly, but it would be nice to have new things. It just seems wasteful to purchase new when old still functions. Can you imagine spending money on a new gold egg if you tire of your green one? By the way... thanks for being real.
We know how you feel about volatility and stability on the markets. Hahaha, we want some movement too, but in the right direction lol.
Well done on purchasing a consumer good investment. Ours is a blender - doesn't save money on haircuts, but saves money on smoothies and should be good for our health (knowing what we put into our smoothies). :)
I love this simple example. It’s easy for everyone to understand and I think we can apply this to many things in life.
I’m also very proud of myself for not checking Coinbase every day and for relaxing more when it comes to crypto prices. I could lose my mind if I checked Coinmarketcap or Coinbase many times a day!
Patience is key!
Good luck with your trimmer... do not forget to put some oil in ;-)... I hope BTC will soon will recover and we can look to new ATH's I think Steem is so much stronger and will also benefit a BTC recovery
Wow. $30 for a man's haircut. That's even more expensive than here.
I have a very different perspective on the hair clippers. I don't see value just in how well they work, for example. I think there is value in the social aspect of going to the barbers.
And in your case, there could be a delayed monetary value. You could be talking to people and spreading the news about crypto and Steemit. So, you might be missing an opportunity! 😁
Haha, I like the way you think, and you are absolutely right. If you enjoy going to the barber it's worth it I guess. I'm not a big fan of going there. So this works for me. Of course, the clipper is just an example, there are many other things were the same 'line of thinking' can apply.
I agree, electric hair clipper is a small example but if we follow the same in different things, we may end up saving a bit more, after-all that a penny saved is a penny earned, truth is even small savings can add up over time. The trick is to find ways to save every single day on different things and remain focused on it.
Wow!!, you have a nice haircut with a curly hair at the top, am sure Bianca will like that. Lol
I also get same question from my friends I introduce to Steemit, on how to convert there sbd to other cryptocurrency. I will be making a video about that this week with blocktrades.
Thanks so much for sharing @exyle, I really enjoy my time watching and reading your post today. Your explanation on consumer goods is just perfect, I took some on my time in thinking much about it.