Personal Finance Update: Enjoying Today’s Financial Feast, But Preparing for Tomorrow’s Famine

Holy shit it’s like Channukah and Christmas all at once every day, all day, all December. I keep cashing out my SBDs at a rate of $10+ per SBD, resulting in huge paydays.

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The last two weeks now have been like a fantasy come true. I’m posting original content on the internet and earning at a rate equivalent to a $50k per year job. This feels like some kind of cosmic mistake where I fast-forwarded several years in my life.

Because when I imagine myself at age 30 (I’m 26 now) - this is what I picture. The freedom to do my work while enjoying a reasonable income. This is that, and it’s happening now!

Preparing For The Harsh Winter

Of course, there is one key fact: This is temporary.

I must act under the knowledge that literally at any moment, the tides could turn. We could enter a crypto recession.

In fact, the faster and more incredible the cryptocurrency gains are, the more likely for it to experience a temporary price correction. Temporary corrections don’t sound scary, but they will feel scary - it could be the case that bitcoin goes back down to $2,000 for another three years.

In year two of a massive three year recession, with steem at $0.50 in 2019 or something, would you maintain your confidence? I don’t want this to happen - but I want to be ready for this near-worst-case scenario. Financial security right now requires some fiat income.

That’s why I am forcing myself to put some time into other income streams: Constant Content and Bitcoin Canada, mostly. But I cannot lie, probably 80% of my writing time this week was focused on Steemit :-).

With all that stern financial talk aside, this is amazing! I’m so excited about all of the money that I am earning. There is still a long path forward to pay this debt off… but I’m running down that path at full speed!

Current Financial Status - Here’s the Numbers

Bank accounts looking good… debt keeps moving down… and my net worth is soaring upwards. Progress will slow a little bit soon - when I move to a new apartment soon, I’ll need to buy some new furniture, mainly.

But overall it’s upwards and onwards. Here’s the financials for today:

ASSETS:

Checking Account #1 (Bills/Rent): $719
Checking Account #2 (Day-to-day spending): $185
Checking Account #3 (BTC Debit Card Wallet): $10
Checking Account #4 (LTC Wallet, Soon to be sold for USD): $120
Steem Liquid Wallet: 34 steem / $100
Savings Account #1: $10
Steem Power: 1,602 SP // $4,806

Total Assets: $5,950

DEBTS:

Money Owed to my Dad: ~$10,208
PayPal Credit: $5,895 ($200 away from being caught up)
Chase Credit: $483 (note: I just checked up on this - it's a bit higher than I reported last post, my mistake)
Short Term Steem Loan: $450 (paying this off in installments now, $75 per week)

Total Debts: $17,036

NET WORTH AS OF TODAY: $11,086
Last Week $-13,195
TOTAL CHANGE: +$2,109

WOW!!!

I'm up $2,000+ in my net worth in just four days since my last update. That is incredible.

A lot of the gains are due to the rise in the steem price. We are currently at $3 which is amazing. Who knows if the price will go down soon... I don't expect it to stay this valuable for long. Still, it is a nice feeling to see my net worth go up.

Having more than $700 in my bills account right now is mind-blowing. That is two months of rent!! The next step for me is to finish catching up on my PayPal payment ($200), then pay off my two small loans and start building my $1,000 savings buffer.

Gratitude, Gratitude, Gratitude

Amidst all of the good times, I try to focus on gratitude. Not everybody gets to experience comfort or financial well-being in their lives, so the least I can do is be grateful when things are going well.

We may come crashing back to earth soon. I'm ready for it. But for now, let's enjoy some well-earned financial prosperity!