With the upcoming winter many people are facing problems that we hoped never to face. A lot of people will have trouble to pay rent or for their energy bill. This means that there will be certainly not a lot of money left to invest in stocks or even crypto. With that being said, I think there is always something that people can invest and that is their time. In order to still come out of this difficult time on top, I think that we need to talk about what possibilities we have to make the best out of this situation.
Learn New Skill
Because we only have time available, we need to search for something where we can invest into ourselves. Ultimately, we are our biggest asset and we need to make sure that we have the biggest value in the outside world. This is why learning new skills is always important. Whether it is something useful for your job that you can leverage into a raise or whether it is something like improving your writing skills to start an online Blog. The possibilities are endless.
Like mentioned above this way can lead into two paths. The first one is that you will be more valuable in your job. This means promotions and hopefully raises. In my opinion, this is a short term solution where you can grow your income almost instantly and get relief from the initial problem. The other path is the more independent one. Because we are creating something for ourselves like a Blog or even a side Business, we have our own responsibility in this path. This means our effort will determine how much more income we can generate from this. This path is usually a more long term approach as quick gains in income a barely seen. On the other side, this path can help you to become more independent from your job in a few years time when this side hustle snowballs!
Research New Upcoming Projects
Another usage of our time is to do some research on future and upcoming Projects. Especially in the crypto space it is always important to be up to date and do your own research at the same time. A lot of projects did not launch yet and there are many white papers flowing around out there. I think right now is a great time to find some hidden gems and invest the extra 10 to 20 USD once the situation reliefs again.
By doing this, we will have a great understanding of what is happening in the crypto world and will not jump onto the FOMO train once the next bull market hits. If people are new to this space, it is even better. This way they have time to understand and educate themselves before jumping onto the FOMO train like many others did in the past bull market.
Financial Literacy & Global Movements
Talking about education: I think it is also very important to always sharpen your tools in regards to financial literacy. I think many people that are thriving towards financial freedom are at some point also financial literate. But I think it is not a binary attribute but more like a spectrum. This means that there are always more things to discover and other strategies to find. And I think one of the best time to do this is right now.
Not only that but, it is also a good time to understand the markets and the overall global movements. If we can understand more what is happening in the world out there, we can certainly predict the next movements by the big players and maybe even imitate them in the future. I am sure, this recession is not the last one which also means that we should build up our experience with this sort of stuff.
Mental Health!
Last but not least, one of the most important things in life is our mental health! I think it is the single most important attribute that we should take care of. It will not help us if we have all the money in the world but can not enjoy it because we are in a bad state of mind. This is why I would always prioritize to invest into your mental health rather than any crypto or stocks.
I think it is very healthy to treat yourself with a nice meal or in my case with some gummies! It should not always be a hustle. It is also good to just take one evening off and watch a movie with either friends or your partner or kids. This invested time is never wasted and will always benefit you in life.
Published by ga38jem on
LeoFinance
On 17th September 2022