FINANCIAL MANAGEMENT: SKYROCKETING YOUR INCOME AND LEVERAGING CRYPTOCURRENCY. (vol 1.0)

Twenty-Four blocks are a long way to run, but there is so much traffic, and time is running out. Now is the time to improvise, and be smart by creating financial bridges to minimize traffic as well as generating high remuneration. Considering profitable decisions is of serious concern at the moment, especially in a decade when the world is transiting from her onsite operations to being remote which was purely orchestrated by the pandemic. Opportunities to learn and manage the flow of income abound for people at all levels of experience, thus the need for you to update your experience circle in order to avoid holding on to archaic finance approaches at the detriment of new algorithms which happen to be more safe, secure and faster. Managing your daily expenses and calculating your monthly income might be something you have been doing in the past few years, but the question is “Have you ever thought of saving or investing a certain percent of your income?” if yes, then how?

The above questions are meant to be rhetorical though, what is worth doing at all is worth doing well. Investing, saving or being the author and the finisher of your finance isn’t a yardstick to good finance management rather it’s just a blueprint of your financial capabilities. An excellent financial management skills and measures you must put up as an individual involved, understanding your financial aims and objectives, that is, setting your goals, determining your priorities in respect to your income/revenue and putting your goals into consideration, self discipline and determination even when the terrain looks crooked. Understanding how to go about these and leveraging the right platforms are what I’m promising to chew down the nub as we journey through this content.

Setting financial goals, you are expected to set your goals based on your needs and wants. That is actually why Mr A financial goals will differ from Mr B financials goals just because their needs and wants are not the same. For instance, my aim is to save $40,000/annum and invest $20,000/annum from my $10,000 monthly income as capital to start a side business next year. That’s my goal.

It’s no more news that human needs are insatiable, thus the need to list out our priorities is vital and compulsory in order to manage our finances excellently. Intuitively with the existing information above, my priority as an individual who is raising $60,000 for both saving and investment from an annual income of $120,000 would be basic necessities. That is, my scale of preference list would consist of things like, Food stuffs, Laundry stuffs, Health/Medical Check Ups Transportation, Internet Subscriptions, Utility bills and few others. Prioritizing your needs implies knowing what to purchase based on your income. This is very essential as far as managing your finance is concerned.

Staying firm and having great determination is more or less the bedrock and building block of a good financial management system. Knowing the right time to say “Yes” or “No” to avoidable expenses such as echoing statements like “oh no, I’m not buoyant enough to sponsor the yacht party this weekend”, “I don’t think the trip is that important, I’m letting the ticket fee slide”. Technically, with the above elucidation you ‘ll understand that there is more to finance management than mere saving and investing. Coming out clearer that saving and investing are subsets of finance management you can indulge to skyrocket your income.

Although, there are different saving and investment plans which we do subscribe to as an individual, examples are Real estate, stocks, bonds, shares and lots more. Nevertheless, the aim of every being is to make not just profit but huge profit. If we ‘ll be sincere with ourselves, most of these investments come with risk just as we all understand that everything is a risk, but by the end even when you are being optimistic the Return on Investment (ROI) isn’t always something you can be 100% excited about or being able to boast of.

So, I suggest the same technique, that is strategic planning, organizing, directing, and controlling of financial undertakings which is being used on other saving or investment approaches should be channeled toward understanding the concept of cryptocurrency. If the word cryptocurrency sounds befuddling to you, then reading about it here or making personal research won’t be a bad idea, however, I’m giving a brief overview about it and how you can leverage it as a Fourth Industrial Revolution(41R) type of investment in order to increase your source of income / ROI drastically.

Talking about the origin of cryptocurrency and what it is, here is what you should know. “Cryptocurrency (or “crypto”) is a digital currency that can be used to buy goods and services, but uses an online ledger with strong cryptography to secure online transactions. Much of the interest in these unregulated currencies is to trade for profit, with speculators at times driving prices skyward. it is a form of payment that can be exchanged online for goods and services. Many companies have issued their own currencies, often called tokens, and these can be traded specifically for the good or service that the company provides. Think of them as you would arcade tokens or casino chips. You’ll need to exchange real currency for the cryptocurrency to access the goods or services. Cryptocurrencies work using a technology called blockchain. Blockchain is a decentralized technology spread across many computers that manages and records transactions. Part of the appeal of this technology is its security. Examples of cryptocurrencies are Bitcoin, Ethereum, Ripple, Litecoin and lots more.” Come to think of it, the first decentralized cryptocurrency, Bitcoin, was created in 2009 by presumably pseudonymous developer Satoshi Nakamoto. It used SHA-256, a cryptographic hash function, in its proof-of-work scheme.

I always feel awkward with some crazy inventions, and this time is not different. The value it holds and the output is actually what I’m passionate about. Take a look at the chart below elucidating the ROI on different companies against bitcoin (BTC) which happens to be the first cryptocurrency.

Indulging Cryptocurrencies can be so easy and straightforward when you understand your take and the exact technique which is best fit for you considering time utilization and other activities you might get yourself involved in. The best way you can leverage the system either as a Crypto newbie or enthusiast is to engage in Cryptocurrency Trading/Exchange or Cryptocurrency Hoarding.

Cryptocurrency trading/exchange, that is digital currency exchange (DCE), allows you as customers to trade cryptocurrencies such as Ethereum, Bitcoin, or digital currencies for other assets, such as conventional fiat money or other digital currencies. Crypto platforms accept credit card payments, wire transfers or other forms of payment in exchange for digital currencies or cryptocurrencies. Cryptocurrency exchange is a market maker that typically takes the bid ask spreads as a transaction commission for its service or, as a matching platform, simply charges fees. Now, Cryptocurrency hoarding is the concept of changing your fiat currency into crypto such as Ethereum, Bitcoin, Litecoin with the aim of keeping it and watching the value till it appreciates. Now the question is “How can you go about learning/starting Crypto exchange and hoarding?”. Starting and learning Cryptocurrency trading as well as hoarding is exactly what I will be elucidating in the next volume. Stay tuned.

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