Meme challenge #262 Entry #1 strike a balance
Are you amused by the meme above?
Well the irony of life is that this is the truth for so many of us.
Thanks to the covid 19 pandemic and the uncertain economic conditions.
Money is losing its buying power
It does not matter in what currency you get paid and how much the pinch is being felt by one and all.
If you earn a lot maybe it won't hurt you that much however it hurts you a lot if you live from pay check to pay check.
Those in the gig economy are hurt even more
People who are part of the gig economy are practically invisible to the govt.s when it comes to doling out aid or other economic help.
This is a global phenomenon
So no matter where you live the situation is more or less the same,
Crypto gives some umbrella cover'
For people who are getting introduced to crypto there is some hope and respite.
However not all cryptos are safe havens for growth so one needs to be extra careful in putting your money into a particular crypto.
Thus stick with the min stream crypto
Be with the main stream crypto and do not buy in bulk.
DCA is a good strategy
DO dollar cost averaging where you put aside a fixed part of the money in hand to invest in crypto.
It could be $10 per day , per week or per month.
Stay safe and keep investing
Well this is an important mantra as if you fall ill you may lose your job if you still have one or maybe your employer has cut down on the number of paid sick leaves that you may avail of.
Life is a marathon and not a 100 m dash
Remember this so plan your life for the long run.
Plan your investment accordingly and manage your risk as well.