You must be surprised, ain't you?
We are yet to see the end of the 8th month of the year and I'm already talking about 'a review of our balance sheet for the year'.
Well, brace yourself. That's exactly what this era demands because the jeopardy is so severe. Can you imagine spending this whole year without really achieving anything?
Can you?
The statement I make all the time is that 'we are always in danger of missing golden opportunities whenever we fail to review the things we do. These reviews or appraisals or whatever you call them are very important.
At the moment, I want you to have a look at the investments you've made this year to see if it counts as a good investment or a poor one. Check it through the lens of profit and loss. Do the same for the money you've been spending.
For those that have most of their stakes in Crypto, this year must have been a tricky one. We've seen some Crypto tokens move up and down within the twinkle of an eye. #CryptoCrash has also made it to the trending tag a couple of times
The dip we are seeing this year has been a massive one. Almost every Crypto project out there has felt the pressure. For a typical 'buy low, sell high' Crypto investor, the last few months must have been quite tricky.
I know this because I've been caught a couple of times in a dip trap while trying to leverage on the 'buy low, sell high' opportunities we get with a bunch of shitcoins. I also know that if I rewind my mind to what happened during bull runs, it fills me with positive energy.
Anyway, reviewing my balance sheet for the year (so far) through the lens of profit and loss shows a fairly uninspiring result.
That's basically why numbers are scary. Haha. The numbers are showing that I've spent far more than I earned, but I won't be too hard on myself. I know it sounds crazy or perhaps an excuse, but every penny was spent wisely, with a strengthened resolve.
There are also a couple of things I tried this year which didn't yield the result I wanted. At face value, it counts as a loss, but there are lessons to be learnt from those and I learned so much from them.
I won't dive into the details, but after reviewing my balance sheet, the only wise thing to do at the moment is to cut down my expenses to a reasonable minimum and diversify my investment to create room for additional earning streams.
That's the plan I have and it has already taken effect.
By the last week of September, all the investments will be in place and hopefully, there will be some really good returns coming out of that before the end of this year.
You can as well take a moment to review your assets and liabilities for the year so far. It will be a good stat to have as we get closer to the end of this year.
Thanks For Not Missing Any Full-stop Or Comma
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