Friday Finance 6/3/2022: Feeling the Pinch

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It is time again for another Finance Friday/Friday Finance. This is a series I started where I talk about random bits of financial stuff that I have seen, gathered, or experienced during the week. I hope as a reader you find it informational, entertaining, or both. I also hope it can generate some good discussion and edify the Leo community.

I was telling someone just the other day that I can hardly believe it is June already! It feels like this year has kind of flown by so far. Yesterday was the last day for kids in the school district where I work and now my focus will turn to summer projects for the next couple of months.

I've got a bunch of camping trips planned, but in between it all I will be here on Hive blogging, commenting, and curating.

Feeling the Pinch

Like the title of this post said, we are finally starting to feel the pinch a bit more in my neck of the woods. Gas prices have gone up to $4.99 9/10 per gallon. It's funny to see so many people take the easy route and blame this political party or that one. Meanwhile they are looking past the issue that is right in front of their faces.

I'm just sitting here trying to plan out my summer. The gas prices won't change my plans, but they definitely give me a bit of pause.

My truck has a 37 gallon tank. That's $184 or so to fill it completely. When we are pulling our travel trailer the truck gets about 8 miles per gallon. We have a trip coming up that is going to take us 415 miles from home to the Upper Peninsula of Michigan. That means I am going to have to fill up at least twice on our way up and at least two more times on the way home.

It's crazy to think that one trip might see my fuel cost edging up towards the $1000 mark. Thankfully, that is just one trip and our other trips are much shorter than that one, but man, it's crazy out there right now.

Maybe I will get lucky and something will happen between now and then to ease the strain a little. The public is getting restless (not that anyone is listening).

Leo Lion

I used some of the HIVE that I made flipping Splinterlands vouchers and bought some more LEO this past week. It was enough to push me into the 15,000 staked category which gives me the "Lion" title on the Discord server. I know it is a pretty trivial thing, but it is still an accomplishment that I have been working towards, so I am fairly happy about it.

Unfortunately, the next bar is pretty high at 50,000 LEO staked to get the next title. The price is relatively low right now, I could probably easily buy my way into that title, but I think I would rather try to earn some of it!

SCV and EDSMM Tokens

Over the past couple of weeks I also made some purchases of other tokens on the HIVE-Engine. The first was the SCV token. I had been on the fence about buying one of the SPS Node licenses for Splinterlands. Ultimately I decided the cost was just too high and since I don't really have the hardware to run the node, it might not be worth it. Instead, I found out about the SCV token. Basically, SCV holders provided the funds for the project to buy a node license (or two?). They will then in turn run the node and return a portion of the profits back to the token holders respective to their SCV token holdings.

It is kind of like the Cublife token if you are familiar with that. DeFi without having to get your hands dirty in DeFi. In this case, SPS Node running without spending your money or dealing with actually running a node.

I also took advantage of the chance to pick up some of the new Eddie Earner Mini Miner tokens from the @eddie-earner project. The miner gives you the chance to earn EDS tokens which according to HIVE-Engine are:

"Inflation-proof HIVE income tokens."

I get a small drip of HIVE for holding these tokens, so I figured why not take advantage early and hopefully increase my EDS holdings so that the drip becomes a stream.

Nothing wrong with that right?

I believe there are still some of each of these tokens available on your favorite HIVE DEX, so check it out!

That's all I've got this week! Have an awesome weekend and try not to let the gas prices (or the markets) get you down too much!


Sports Talk Social - @bozz.sports


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All pictures/screenshots taken by myself or @mrsbozz unless otherwise sourced

Posted Using LeoFinance Beta



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26 comments
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Nice one I really enjoyed this post it makes sense how you invest in other projects keep flipping.

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Thanks, I do my best. I don't always hit the mark though!

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It is really awesome to accumulate tokens for future purposes which is nice and beneficial

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Woa, 15000 lion is still a very high mark to hit. Even at the current price, it is still worth above $1000.

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Yeah, I guess that is a good point. I wasn't even thinking of it in terms of USD.

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I am Holding some EDSM maybe I should add some miniminers as well.
EDS drips some HIVE into my wallet every Monday. It is pretty straight forward and soon it will cross the 1 HIVE per week mark.

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If you pick up the mini miners it for sure will! I think I have some of the regular miners too.

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I too am investing for the future. I loved reading your method and learning. Thanks for sharing.

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Thanks, I appreciate that!

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Feeling the Pinch

With gas prices increasing everywhere, the whole monthly budget is shooted up. Seems like there is no way other than start one more income stream.

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Yeah, no kidding! Before you know it we will all have four different jobs! Just to try and get by!

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Great story Bozz but I am missing the Finance funnies with my Friday beer !CTP

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Nice one but I am missing the Friday funnies with my first beer of the weekend

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Sorry, I can't be "on" 100% of the time :)

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Lol Nobody can you are forgiven it´s Friday!

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I like the EDSMM and it's a good investment right now because there aren't that many staked. It should be a few months before it sells out so we can still get more APR now compared to later. Also congratulations on being a Lion.

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Thanks, I appreciate that. Yeah, the return is really great right now, but the fact that the real benefit isn't going to hit until five years down the road or so is also exciting!

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Yikes those gas prices are nuts! I'm seriously glad I don't have a "job" or somewhere I have to drive to often because that would just be nuts. At some point you gotta be like is it eve worth me driving into work!

Posted Using LeoFinance Beta

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Yeah, it is pretty crazy. Luckily my wife and I can ride together to work, so that saves a little bit. These camping trips this summer are going to be killer, but I wouldn't trade them for anything.

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That gas price is crazy for your trip, @bozz. It would be cheaper to fly, lol
All good information, thanks for sharing.

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Yeah, it almost would, but then you have to figure the cost of hotels and stuff. I can pay $35 per night for a campsite. It would be a pretty trashy motel at that price!

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Great update. You are doing well stacking so much LEO!!

I've also got some of the new EDSMM tokens and just remembered to stake them now! whoops!

Thanks for sharing on LNs.

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Everything is going up and to tell you the truth we are in a pretty bad spiral. Companies did this to us when they got greedy. The only good news is retailers are reporting bad numbers and inventory building. If everyone stops buying and companies' inventories build up the low od supply and demand will bring prices down.

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Yeah, I saw Target is already starting to have big sales because they have too much stock on hand.

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