Yesterday I had a meeting with some steemit newbies in uyo and I realised these new guys were all looking flashy than how i met them a month ago. I was curious and wanted to know where the extra money was coming from. after asking some few questions, i noticed that they've been constantly cashing out from steemit to buy new stuffs for themselves . I was so disappointed and even blamed myself for not teaching them how to spend and when to spend.
It's very important to recognise your seed; Not every money that comes into your hand is for spending. there is nothing wrong in taking care of yourself and looking good,but you must learn to spend at your level. don't spend above what you earn, spend what is left after saving and investing.
These guys I met yesterday had a job that was giving them less than $7 (about 21 SBD using today's price) a month and now they've gotten extra money and they want to just spend it all at once.
Sadly, many people on Steemit still do the same. You've gotten an opportunity to earn in cryptocurrency through steemit, the best you can do for yourself is to use those earnings you are getting as your seed, plant those seeds into the soil of cryptocurrency and blockchain technology either by learning crypto/blockchain skills or by buying these coins and hold for long term.
There are coins that have done over 1000% increase between January 2017 and today, those who invested as little as $100 then and are reaping great rewards today.
Examples of such investments:
- if you had invested just $100 (currently about 33 SBD) into bitshares around January 2017, you should have had over $21,000 by now (using the price of the ALL TIME HIGH) .
- if you had invested just $100 (currently about 33 SBD) into DASH around February 2017 and held it , you should have had over $44,000 by now (using the price of the ALL TIME HIGH)
- if you had invested just $100 (currently about 33 SBD) into NEO around April 2017 , you should have had over $92,000 by now (using the price of the ALL TIME HIGH).
- if you had invested just $100 (currently about 33 SBD) into STEEM around January 2017 and HODL , then you should have had over $5000 by now (using the price of the ALL TIME HIGH).
CONCLUSION:
As a newbie, Whatever you're getting from steemit right now is your seed, don't eat all of it. Use some to buy more steem Power, invest the rest into other cryptocurrencies and HODL.
Start thinking long term, because at the end, those who HODL benefit the most.
STEEM ON
Big thanks to @pendraggrafix for fixing this cover design for me.
It's really important what you've stated in this blog. We've got to pay a lot of attention to our habits once we start earning. I for one love to power up as I see the potential the steem token has. One can also do as you said, invest in other coins and you never know when the cryptos might be in your favor.
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Glad to meet another like mind. Thanks a gazillion for upvoting my post.
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You're welcome a gazillion times lol. I see a potential whale in you. Just keep posting the interesting stuff and people on this platform will continuously visit your blogs.
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Wow! You made my entire day with this....Thanks
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I have been there and its really difficult not to spend money from crypto. Its equally painful to realize you could have easily hold unto your coins and made a 10 X Increase just a month later after spending We ought to remember the meaning of wealth. " Wealth is what you hold not what you spend". If you really want to be wealthy, you need this skill
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Noted boss.
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Thanks for making me understand steemit and how to spend my money , even when have not earn anything yet but i know better how to spend the money when it comes. Please how can i be path of the meeting? thank you @ stamstickkz
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Welcome to steemit.com @merciboku where are you currently. It's not an online meeting
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oh my God, i am victim of this, i thought steemit was an opportunity for me to start living the big boy life i have bbeen admiring since, all the money i have through steemit , i have used to purchase things for my self, even my parents are now suspecting me that am into so secret business, of what i waste i have been since
pls is there still hope for me. here i am now like the prodigal seeking for any opportunity i can invest in ooo, when i get clalim these rewards coming in soon. pls help me sir, i would love you to help guide me sir
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Lots of hope for you sir. Steemit is still in its beta phase. Just start start investing into other cryptocurrencies now
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@samstickkz, boss you just made a mega sense there I pray they heed to your advice, you know we are only thought on how to spend money on school but how to safe or make money, to learn how to safe and make more money is an attitude and it takes dicipline to master it, we live in a world where everything is attractive for purchase, but it's only the disciplined once that can overcome the menace.
THANKS FOR SHARING
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You're welcome @mike4christ saving takes discipline, but it's worth it
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yes dear, it's the best way to gi dear, you are mounthed more grease to your elbow
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Fantastic! I'm glad you wrote this. I have been re investing in SP since I joined up a month ago....my motivation being long term wealth creation. Cheers and Thank you! I feel better for my choices
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Wow you've been doing the right thing dear
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Thanks for this! You're the best
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I'm very glad to hear this from you sir.. Thanks for giving advice on how to manage my resources well. Thank you sir
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Wow... It was a beautiful time with you yesterday. I discovered another reason why i should be on steemit, not just about the money. And also how to save, not spending everything i earn. Thank you @samstickz
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You're welcome dear. See you at JAM
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That's like rhema to one mehn!.. Thanks, it is inspiring to see men and women of like passion sharing opportunities and wealth wisdom. Blessings!
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Thank you very much sir for this wonderful piece of advice. I guess this is synonymous to the saying, that a stitch in time saves nine.
HODL is the key to dear life, and I'll be sure to take this candid advice while also building steem power on the Steem Blockchain.
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I wish I could release a "HODL" song
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This is a piece of advice which could prove very valuable. Thank you for this
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The lessons learnt from this post are deep ones indeed.. One needs to have self control and discipline to know how to not just act on impulse but calculatively
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Thanks for the advice sir, many newbies need to know this including me!.
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Yes they need to
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Resteemed by @resteembot! Good Luck!
Curious? Read @resteembot's introduction post
Check out the great posts I already resteemed.
RESTEEMBOT IS FOR SALE
I COULD WRITE CODE FOR YOU
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Please teach me ooo... I need to learn this
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Sure I will
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Please when because you isa boss ooo
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thank you for this wonderful post friend as a new user i appreciate your words and sure i will follow your valuable advice you are really true, even i earn just small amount of SBD from stemit but i love it because it is my first experience in cryptocurrency and hopefully the future of steemit and steem will be as bright as possible thank you @samstickkz follow you to benefit from your content
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@yassinof there was a time when my total earnings in a month wasn't up to $10,do just keep doing what you're doing
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thanks friend i'm doing my best to improve my self hopefully for better future thank you friend
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I have been buying bitshares since December, I wish I would have bought it last year! I’m new to Steemit and will be buying steem for the foreseeable future and will be powering up everything I make off my posts too (even though it’s not much right now!) im thinking long term!
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Not enough? Just keep improving on your work here on Steemit and try to make friends
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You can take a man from the bush but you cannot take the bush from the man, that's what they said. Most people still have the ponzi mentality to steemit. They think it's a platform that will soon collapse so they better take the goodies while they can. They think they can just spend some Now and make more later to invest but it really doesn't work that way.
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Yea ponzi scheme introduced us to cryptocurrency, but only knowledge can help us now
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Yes boss....
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Wow. Thanks for sharing. Recognize your side put on fertile ground.
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You got a 7.56% upvote from @buildawhale courtesy of @samstickkz!
If you believe this post is spam or abuse, please report it to our Discord #abuse channel.
If you want to support our Curation Digest or our Spam & Abuse prevention efforts, please vote @themarkymark as witness.
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I've learned over the years that rich people aren't those who make a lot of money and spend a lot of money. Rich people are those who know how to work with money. That's the difference. I hope this article will reach more people just so everyone gets a little wake-up call to how SteemIt works and how it can benefit us in the long run.
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Good, steady, good luck on your success, long life and healthy always, do not forget also my post will remain in steemit
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I totally agree! Thanks for sharing..
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You're welcome dear
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