Topic: Advice for the season. - page 6. (Read 784 times)

This is timely and relevant especially now that we are in a holiday season wherein there are several occasions that are really festive such as thanksgiving, Christmas, and New Year in which people really tend to overspend over something that isn't really necessary just to boost their ego and brag in social media. During these trying times, it would be much better to just spend within your means only or even below it if possible to avoid having loans that could result in chains of financial problems in the future. Just spend what you can afford to spend. Do not go over your budget as it would cause huge trouble later on. If you don't have the budget to buy something you just want, then stop eyeing it in the meantime and just save until you can already buy it. It would be a smart move to allocate your finances as early as now on the things you have to buy for the celebrations and for the gifts to your loved ones.

If you don't really need the money like for an emergency reason, my advice is to just hold until this season is over. Since the market is down, you will not really get the best out of your portfolio by now. If you could wait, then just wait for next year. But of course, the decision is still yours to make. After all, we have different goals and we enjoy things in various ways. As for me, I practice delayed gratification to achieve what I want to achieve and to really enjoy the fruit of my labor and patience.

Do what suits you best, that is the best advice I could give aside from unsolicited opinion to hold your coins. Just do spend responsibly. You can always enjoy today without sacrificing and robbing your future.

Too bad I got to pay taxes and at the moment I really need a lot of money. Your advice is good but for some other folks out there who are having a hard time this year have ups and downs. And one of them is me. I am currently building my house and baby number two is coming so really need the cash badly.

Don't get me wrong on that. Truth remains that a lot of people do things because of pressure, and not necessarily because they would've wanted to do them on their own. That's the point I'm struggling to remake here. By the way, if you're alluding to Christmas as part of culture and beliefs attributes; that won't be correct because there's no where it's stated in the books that Christians should celebrate it. Not even Easter too. We should see the celebration of Christmas as more of a cultural and traditional thing. That was how the whole thing began in the first place. I think a lot of people take out the time to unwind around this period because it's a celebration that comes at the near end of the year. There are company and business holidays at such end of the year and most people utilize the time to travel and visit loved ones. Apart from that, there's nothing special about Christmas.

I will not sell my crypto because of celebrating the new year because that is not worth doing. In the new year, we should reflect on what we did last year and what we want to achieve in the next year so we know what we must do and how we can do that. Maybe we need to plan what we should do and calculate the budget we want to use to invest in crypto. We need to be wise in preparing for our future because we need to have responsibility for our money and not spend on unnecessary things that we do not need.

People who are from middle-class families do not have many plans at this end-of-the-year season. That's enough if we can manage families wisely. And about the cryptocurrency, I don't intend to sell any. Rather than I feel this is the time to fill our bag by accumulating on the dip. But sadly a few holders intend to sell at the end of the year, as a result, we have been seeing a red market. On the other hand, those who don't have much patience becomes panic and increase selling pressure. Cryptocurrency isn't a seasonal currency and we should think about it deeply. Shouldn't make a plan and decision that would harmful to our wealth.

You are such a grinch.  This is the right season to spend some money man, we are just trying to keep the local economies afloat so if you can do something it is the right moment to do so.

Now, in general terms, it makes no particular sense to gift expensive stuff right at the moment that is more expensive. The value of a gift is not as much how you spend but rather the time and effort you put into making that gift just the perfect thing for the receiver -  and believe me that is not easy with many people, particularly those who anyway can pretty much buy themselves whatever they want.

But with the seemingly next wave of covid variant, I think people are already preparing for the possible worst case scenario again.
With what we have been thru in the past couple of years, I have the feeling that a lot of us become wiser and smarter when it comes to spending habits.
Though some will celebrate because that's part of their tradition but high likely that a lot of the population will be saving for another rainy days to come.
We are still in this pandemic era where a lot of people haven't recovered yet from the first wave of covid effect.
So even without the advise, I believe, people know what to do already. Particularly those who had difficult life during covid crisis.

im not the part of that thing, but in my place, people will celebrate what they want to celebrate, although its prohibit from faith. the reason is, the older do this thing, and just follow the older. doenst mean all of people do this, but most of them spend money for something useless. and that thing always become routine, unless younger realize and change to do something useful.

Made sense, but not everyone has the same views and thoughts because most of these people celebrating as part of their culture and beliefs. So, we cannot say that it's not an adult thing for having a feastive Chirstmas celebration. It's the culture and we gotta respect that.
However, It's also correct that we need to be responsible for our spendings.
So, either way there's definitely no wrong or right.

What happens is that like always people do not use a budget when it comes to their spending, I understand that people spend more money during the holidays as you have to buy gifts and maybe organize a fancy dinner, but the thing is that we have all year to prepare for the holidays so it would be easy to save a little bit of money each month so we do not have to sell any of our assets to enjoy the holidays, but most people do not think like that and get into debt to get all what they need for the celebrations.

Someone jokingly said why would anyone even want to spend at Xmas season when Jesus, the supposed  celebrant, hasn't invited anyone to any party. Despite the fact that it came off as a joke, it's a fact. More so, I think those who indulge in unnecessary spending for Xmas or any other festivities are being childish. Every adult, who is adult, should know that every year there's always a Xmas on the calendar. Xmas celebration is unending till the end of time. My advice to any one out there is to be sensible in their expenses.

I'm of the opinion that January even begins in the third week of December. Technically, it has around six weeks; not four weeks.

Money management is very important not only in trading but also in real life. I always save for funds for such an occupation where I may spend some money if needed. I like a person who participates in social activity because it keeps us positive and relief our stress. But overdoing anything is not good.

Actually, it's common that the market will take a correction before Xmas. People plan to travel with their family or friends and to bear that expense they sell their share.

It's another season to spend and it can't be avoided just that it can only be minimized. When the Christmas comes around in my part of the world it's time where people come together to celebrate their achievements, state their challenges, get to meet with new faces and recreate lost bonds. Spending this season can't be avoided it can only be minimized that's spending wisely

That is if you don't have real need for it. Your investment is meant to help you to finance your challenges when the time come for it. You don't have money and go begging all the time that means you don't really have good plans for yourself. Agreed that you don't need to cash out every time you have little challenge, that is financial mismanagement and frivolous spending but if you have personal things you need to do with money, why not look back to your investment especially if it has got to some high and with profit.

This depends on your goal as an investor and for your long-term plans. Remember that every investment is soon to be withdrawn and cashed out as fiat. It depends upon the purpose on which the investor has allocated it for. For example, you invest in order to purchase something in a given date; or you invest for future expenditure.

Many investors have already cashed out some of their investments due to this season. While it is advisable to HODL your cryptocurrencies for long-term profit, I also do not see the problem of converting them to fiat if it is for a purpose that they think that is beneficial to them.

Good management and management should not spend one moment and then the next moment we will starve. Well, always save money and it's not too easy to be tempted to sell everything. At a minimum, set aside what is currently in your portfolio. Since 2022 no one knows, it could be a profitable year. Spend moderately, and keep crypto at a stable value if you are not ready to face a correction or in Bitcoin can increase profits even more.

However, ideals collide with needs, everything becomes a necessity for us to sell what if it can give us the strength to survive the market waves.

Advice for the holiday season

-Fluids like gasoline are denser at colder temperatures. Consumers can get more gasoline per volume filling up their tanks in the cooler hours of early morning or late night, than they would in the warmer afternoon.

-If burning wood to stay warm becomes necessary, avoid burning termite treated lumber which can contain toxins like arsenic.

-Indoor mildew and mold which can multiply out of control during high humidity in winter can be killed with a mirror reflecting direct sunlight.

-Black friday and the christmas holiday season are normally the highest transactional volume for bitcoin and cryptocurrencies, with I think january being the lowest volume month. Whether these trends will remain constant or shift is anyone's guess but january I think is usually a slow month of the year as far as crypto goes.

I can agree that everyone should spend as much as their abilities allow, but I do not agree that someone should refrain from selling a certain percentage of BTC to allow themselves and their loved ones to enjoy the upcoming holidays. There is only one life, and we will only see 2022 once - and who knows what will happen next year, maybe our basic human freedoms will be even more limited.

In addition, Bitcoin comes first as a currency, and only then as a store of value - and when more people would think that way, Bitcoin would have a much better chance of succeeding the way its creator envisioned. So do not hesitate to spend at least a small part of your BTC, who knows what awaits us next year - a long crypto winter or some crazy regulations.

In my country, there is a sign of how you will celebrate the New Year, so you will live the whole year. Therefore, people do not regret setting lush tables with various kinds of food, holding festivities, and do not spare money on gifts for loved ones.
But I always agree with the OP and the others  that for all the holidays, there should be a spending limit that you can allow yourself.
And of course, at this time, exchanging bitcoin for fiat is not a very sensible thing, but if there are no other means, then it is also not worth depriving yourself of holidays and the pleasure of giving gifts to loved ones. You never need to put off your life for later. Live in the here and now.

Good to remember Satoshi, who was tweaking the last few details of Bitcoin around Christmas in 2008.

Remember this and focus on being productive instead of buying useless stuff.