Topic: New Year | New Resolutions - How you gonna manage your finances - 2021 ? (Read 584 times)

Won't be as easy as it may sound. There are things having price increase over time and those are assets. But there's no assurance that the increase will be constant or continuous, there will be risk of losing money. Thus, you need to find something having quite of an assurance to lesser the risk. But having a plan of such is a huge leap. Not all of us will be brave enough to conquer doubts and fear when it comes to investments. And this shows progress if you are seeking for a better life.
I have many plans for this year but I won't settle for those plans alone. I, maybe most of us, need to focus more on making our plan, a success. 'coz if we won' t, it will be nonsense and a waste of time eventually. Plans are meant to be done, that's the purpose of doing so from the very beginning.

2021 doesn't look like it is suddenly better. People are talking about how 2020 was a bad year, and I agree that 2020 was a bad year, but not like it is over now. I get that every year people say "that was a bad year, hope new year is better" but 2020 was historically bad, we had a sickness that killed over 2 million people, infected hundreds of millions I suppose (counted and undetected combined) and locked people down to their houses which was fun for like a month but became economically impossible later.

So, 2020 was historically bad, but 2021 is not like we suddenly do not have covid at all, it os still here, we are still living with covid, and until 2021 ends we are not going to get rid of it neither. Sure, it is going to be a bit of better with vaccines and all, maybe big nations could get a lot better, but the world will still have it by 2022.

Last year, I was almost “drowned” financially because I didn’t save much money, but rather spending a lot which is a big mistake and lesson to learn.

I don’t have a job back then during the 1st quarter of 2020. The money that I’ve won in the Roobet video contest gave me at least 3 months to survive. During that time, I am trying to shift my focus into writing travel articles on Steemit and earn some STEEM tokens. I did earned only a little, but I never cashed out.

Most of the tokens that I have were all drowned to shit value, especially the big delay of bounty rewards. I was hoping for a rebound or comeback, but my financial situation got worsen. When the lockdown started that lasted like almost 2 months, I was depressed and thinking that my crypto and blockchain career is over until someone hired me and the rest is history.

During the mid-2020, I am struggling to save money despite that my job can sustain. I have also started doing interview gigs to build my own brand. It was mostly free, until I started getting little donations. I just keep doing my job and other gigs until I had a breakthrough sometime in the Q4 of last year where I did earn extra money for doing video reviews coming from the projects’ direct offers respectively.

Because I live within my means and not “upgrading” my life yet, I have saved a good amount of money. I learned about managing my finances (especially bills), limiting my expenses, hungry for more income, etc. It all paid off after so many months of sacrifices.

My goal for this year is to save even more money, limiting my expenses and bills, grow my daily, weekly and monthly average income, and if funds are good enough, will invest in a lucrative profitable real business (not ponzi scams lol). I usually put most of my funds in ETH and USDT. I don’t want to repeat my mistakes in the past of spending a lot without knowing how to make my income bigger than my expenses. Reminds me of Robert Kiyosaki’s Rich Dad Poor Dad book.

Same for me, even though bitcoin did pretty well my overall portfolio wasn't doing so great. I also lost some money gambling. For 2021 I just want to build up my portfolio again and hope the crypto market keeps rallying.

Maybe BNB, USDT could still be a good choice to buy for now, as I see the price for BNB increases and decreases, so that can give the opportunity to make a profit. USDT can be a good place to save money after making a profit, but it is hard to make a profit from USDT. Bitcoin is the best place to keep the investment, but we need to know that the value will be up and down and that can make money will change from time to time.

2020 was indeed a bleak year, i completely changed my plan due to the impact of the epidemic. Sad that it's going on and impacting my everyday life, 2021 I just wish that the epidemic was too soon for me to be back in my main job soon, and then if i have a spare cash, i think will use it to buy bitcoins.

Although we're from different background, one thing is certain, we're all chasing after our financial freedom by picking interest in bitcoin investment. The best possible way is to keep staking sat, that's getting our hands on as much bitcoin as can while it's still cheap. Yes bitcoin at its current price is still very cheap, with continue increase as we're recoding soon there won't be enough bitcoin on the exchange for people to purchase and it'll be priced high.

Just like last year although hoping this year I'll come out successful, my goals revolves around staking bitcoin. Everytging was going just fine before the distracting last year got the best of me but hopefully the end storyline this year will be me celebrating how much sat I have been able to stake at the end of the year.

Bitcoin will be doing some impressive numbers this year and the best investment will be buying bitcoin at every retest it present. The alts can't be vouche for so it's better you minimize your risk at the same time get in a better position of getting the best out of the surge of the bitcoin market.

The COVID-19 pandemic that is making economic crises in all countries of the world makes me more aware of the way my finances are organized.
The first lesson I will apply in 2021 is to buy less luxury goods and stop buying things we don't need. after that I will increase the percentage of
my salary for investing in Bitcoin. Because with Bitcoin managed to rise past the price of $ 30,000, it makes me even more optimistic that investing
in Bitcoin can make me a rich person. Those are the steps that I have started to carry out in early 2021. Hopefully my finances can be much better
than in 2020.

Same as last year. Save and invest at least 1/3 of my income. In addition, no debt for consumption, only for investments that have a stable and fair value, for example an inexpensive property. The only thing I'm going to change is more emphasis on crypto investments. My crypo investments have been high in the past, but I want to invest more capital in it than in stocks and other "old" investments.

Managing finances have been quite easy for me as an individual for I mostly do budget and be mindful on my expenses not to exceed my salary so that I can still save some for my investment with crypto most specially talking about Bitcoin and also for back up money which is good that I have been doing for quite too long because I have back up money to spend when the pandemic have started last year which makes me let us just say somehow financially capable to survive the crisis despite of the situation. The same thing will still be my managing strategy on my finances this 2021 up until the next coming years. Focus on what is the priority, and if will be spending on leisure be mindful of the upcoming days to stay in control with my finances.

So, you mean you haven't been hodling a good bag of Bitcoin for long term investment when the price was still low and that you started to realize how profitable Bitcoin is in the long run?
Anyway, everyone is looking to buy the dip (special for us who has been in crypto space for quite a long time), but the current price might not be as expensive when Bitcoin hits the 6 digit figure in the future. Buying fragments is still a good option If you have long term plans.

The fact that digital currencies are still the best at this time. Bitcoin is very suitable when a pandemic came and until now people prefer to use this and I guess that is the reason why there are too many private companies who start adopting cryptocurrencies.

Investing in bitcoin is something like you also managing your asset, through holding you avoid spending it because you are hoping that there will be more increase price in the future. My new year's resolution is to start collecting the amount of bitcoin and accommodate them all this year.

Probably not the best idea.

If bitcoin hits 6 figures, would you continue with your dollar-cost-averaging plan? What if it hits 7 figures?

IMHO, DCA is only a valid strategy when the market conditions you are buying in at is subdued. You want to ensure that you snap up an investment for cheap, but you also don't want to expose yourself to further downside risk that could materialise in a bear market.

I actually suggest that you read Benjamin Graham's The Intelligent Investor, that could be a financial resolution in and of itself and it will cover the guiding principles of value investing from bottom up (even if some elements have become outdated).

There are high hopes for a rise in the price of Bitcoin and Ethereum in 2021.  Prices for gold, silver, platinum and palladium may also rise. 

In the new year, you should definitely have several sources of income.  It is also necessary to undergo training, acquire new skills and improve professionalism.  In addition to work, you also need good rest.  You need to take care of your health.  Every day you need to walk in the fresh air.  Move a lot and do sports. 

This will help you make more money.  You also need to be very careful about your income and expenses.  In the new year, you need to be economical and thrifty. 

Look for new sources of income.

It can be related since many investors in stock market ship in crypto where there is much active market now. Due to Pandemic many businesses are still not operating so the market of stock is still into recovering phase and with the new strain of covid might happen economy will surely be affected unlike in crypto which is based more on digital usage.

I also read this book, but I have never been able to apply the tips therein in my life. Too many problems fell on me in 2020, which led to constant withdrawals from my accounts.
I believe that this year I will be able to take my finances under total control and implement as many tools as possible in my life.

It is of course harder to do TA or similar research on a brand new coin, or even a a few month old coin, because it is still on the development process and anything could happen. However it is easier to do it on Bitcoin, even though you may or may not get the right answer from it, it is at least simpler to check it. I am in favor of finding decentralized currencies, there are so many currencies that have people in charge, XRP, BNB, BCH, BSV, USDT and similar, well stablecoins are already not good for investment because they are "stable", but all others that are centralized and run by some people are bad for me, I omit those and use the others in the top 25, and that is much better.

I would advise you to try to get away from those as well, they make no sense to invest at this current stage, you can already get profits from decentralized ones as well anyway.

My plan is the same as in previous years, to allocate as many fiats as possible to Bitcoin, and preferably to gold/silver as additional insurance. Furthermore, as before, trust politicians as little as possible, and do not trust so-called experts who say all their lives what suits them best at a given moment.

The goal of the world's elites is to keep as many people as possible poor and dependent on a system that makes them rich. The best annual decision for everyone, start thinking with your head and realize that small people are the only ones who can change the world for the better, but only if we unite and start changing the world together.

The new year starts with good news. Already now BTC costs about $ 30,000, there has been no such growth for a long time. Do you think the popularity of cryptocurrency is related to the pandemic? Personally, I believe that cryptocurrency has a huge future, you just need to wait a little.

That is what I want to do if I see the downtrend comes to the market. I do not want to be late to buy bitcoin or other coins because I realize that we still have more time to invest in any potential coins. But I think it is better to stick to bitcoin, and the other top 20 coin lists, so we do not confuse to analyze or to select the coin. When you can invest every month, you will see your money value can increase from time to time, but you will also see that the value will decrease. But you do not have to worry because if the price increases, you can sell it and make a profit.

On dips I would be investing and fearing to stay away from the market as it can bounce very quickly and do not want to miss out rally on that moment. So each month certain amount will continue to invest in bitcoin and some other coins which I think have a good potential in future to grow as well.

I've always stuck with dollar-cost averaging method when dealing with high-growth or undervalued crypto and stocks. It's a pretty stress free approach for people who don't have enough time to manage their investments.

I have become wary of the Great Rotation for 2021. If you don't know what it is, look it up, it's good-to-know for any investors of all kinds.

Do not be worried that you didn't saved enough money this year, do not even worry that you had to spend your savings this year neither. For two reasons, sometimes there is some emergency in our life and we have to end up spending some money, it is the system telling us we can't be ever rich with the way world works, one mishap in our life and we are back down, but you have to fight that and you are as we can see from your post, so do not worry it is out of your touch and you should be proud that you had enough savings to cover it.

Secondly and most importantly, it was a pandemic year, the super wealthy got richer obviously (look at Jeff Bezos) but we all got poorer, so not being able to profit this year obviously makes sense. Consider 2020 as a no show year for finances, as long as you are not bankrupted, you are still considered doing well.

My new year resolution is not to FOMO into any project this year, It is important to have Bitcoin in ones portfolio this year and to encourage others to allocation small portion of their portfolio to it, Bitcoin has proven to us that there with time you can only make profit

At this very moment when the market is highly volatile, I think it is not a good option for investment and I am looking to buy the dip after the pump finished. I have saved some amount for rainy day and will be looking to trade some amount and make profit along with long term investnent in BTC and ETH.

I'm going to keep taking advantages of crypto and bitcoin itself, many are hunting for Bitcoin right now and the whole thing is not slowing down, I believe that this year will be a better year than 2020 for crypto and bitcoin, I'm ready to keep holding and also taking advantage of bear market too, there will definitely be some corrections along the way, also let's not underestimate altcoins because some of them are useful too

To be sincerely speaking, I haven't managed my finances as well during the last year, I have been battling up with family issues at all times taking up my little savings, but this year I think I should reduce it a little.
I read a book titled "The richest man in Babylon" it advices about saving 1/10th of your salary no matter the amount earned,, saying let the 1/10th saved gives you more income. I will apply to this theory this year and upward.

Well, as for me, there's nothing huge plans regarding my finances. I'd just continue on hodling my bitcoins especially that the price is going higher, and sell just when I deem necessary or when I feel like it. I'd practice wise spending as well. I mean, I'll still buy things for sure but I'll make sure that such material is necessary and not just out of my demands. After all, the pandemic is still here so we should know how to handle our finances well.

Happy new year!

We all definitely want 2021 to be better than 2020, therefore managing our finances must be much more effective. What I did was the percentage
for buying Bitcoin I increased, because I believe Bitcoin will reach $ 50,000 in 2021. And also I will reduce buying things that are not really important,
then looking for more side jobs so that my income this year is much greater than in 2020. I learned a lot from all the things that happened in 2020,
it turns out that we have to save more in order to secure our future.

My new year's resolutions in managing my finances is, I'm gonna focus on saving. Though its really hard to save this time where we are still in the midst of pandemic and a new variant or strain of virus has came out in the other Countries. But, still I am hopeful and thinking more positively that I will be able to save at least 10% of my income and I am planning to invest in Bitcoins at the right time. I believe that Bitcoins will continue to rage on this year and its awesome movement will grant us all financial freedom and success in Crypto world and in the mainstream world as well.

Maybe i'm too late but I'm gonna invest big portion of my salary this year like really.
Considering how things could went wrong in the blink of eye (pandemic) I guess it's makes me conscious that having emergency funds and the likes really important and learn to not be such a pushover I guess.

Maybe gonna ride the next crypto bullrun who knows 

I have high hope of this 2021 year and hoping all is well for me in my crypto journeys to earn profit thru airdrops and bounties wherein that's one of my new year's resolution to be able to join legit airdrops and bounties so that I cannot missed single opportunities to earn free money on crypto. I have some tokens as well that will surely be big in this year that's why I am full of confidence.

Personally I think I will just not put a lot of money into bitcoin for the first 2-3 months of 2021, unless I see that it starts to stabilize a bit. Even though I am sure BTC will continue to grow, I do not know for how long this will continue and whether BTC will have a mini crash or not. I'm not talking anything serious, but if the price falls 3-4k it will still be a bummer for those who invested during the ath.

Nevertheless I will still continue with my strategy of putting a few hundred bucks every couple of months cause it seems to work

I will maybe put a few dollars into Dogecoin since it's becoming popular just for its name and its price surpassed a cent recently. Who knows, maybe it will rise to 2 cents or even 3.

But in general I am not a hardcore investor and crypto is just a side hobby that happens to make me some money on the side.

Good resolution for you, but you may need to prefer what time period to choose because it will have an effect on your psychology.

As we may know, bitcoin price is already high now if we compare with the previous years it means there will many people who will put the short entry to gain the profit. So, if you choose short term investment and you collect bitcoin with buying it per months you will not comfortable, your psychology will bad and you will sell your bitcoin in the lose situation. Different if you choose long term investment, although bitcoin fall sharply you will still comfortable to hold your bitcoin, because your intention is long term investment.

I have a resolution, maybe it will them with yours but I won't choose bitcoin as means of my investment place. Seem like ETH and litecoin is good investment since their price is still low and have many chances for the price up dramatically. The fundamental factor for ETH is good and it will continue until this year remind the DeFi system is still popular and a few time ago ETH developer has been upgraded their system which can make ETH transaction can run quickly of course with low fee per transaction, that way I choose ETH rather bitcoin.

I agree that any wallet should have Bitcoin. We are surprised how Bitcoin came to conquer large capitals, investors have their eyes on Bitcoin. I would buy what is within my reach because I trust that its price will always continue to rise as planned. What is noticeable in the environment is Hodl Bitcoin because there are great expectations for this 2021 for which we must be vigilant.
Bitcoin is here to stay!

In business, life and finance most will pursue a path of least resistance to achieve goals. They'll grasp for low hanging fruit and search for easy outs. On a superficial level this may seem like the easiest and simplest road. It is also the most heavily saturated, played out and travelled path. With the most competition.

Sometimes the path with least competition and highest reward is creating real value and solving real problems.

I can't say how things will go in 2021. Hopefully I can lean more towards the latter.

Happy new year to everyone! Success in all that you do!  

It's not just new year's eve that I am gonna make a new beginnings in life. I will make it everyday, everytime I made mistakes I tell myself that I won't do it again. Sooner the later I would be able to avoid decisions that made my life suffer. Change your beliefs that you should only change for a certain day in a year, what if you had those bad habits in the very first day of 2021, are you gonna bring it all along and decide to change when 2022 comes? That's one of a hell 364 days to go man. Well it's our own choice to make so better be clever.

3 simple words " keep stacking sats".

Honestly just putting in a little at a time a certain intervals is the easiest way to accumulate whether its bitcoin, stocks, etc.  It doesn't affect your weekly budget as much and by the end of the year you will have a nice portfolio.

I didn't expect that bitcoin's rise was something contrived to qualify as a bubble. Fluctuation is normal for bitcoin price as the market is generally out of control due to the activity of thousands or hundreds of thousands of traders. As we all know, bitcoin price volatility is normal and not artificial so it should not be considered a bubble and all of it is influenced by the supply and demand of traders.

OP, I think you can do anything with your money and your investments for the future and hope there will be a bright future for that. Bitcoin is not completely predictable with certainty although sometimes the results of analysis can lead to it. You can buy at any time regardless of the price you enter, but I believe that's not good investment advice right now. I will probably do the same thing to buy periodically and keep it for a long time. But I have to wait for the right momentum depending on the current market conditions. I just didn't want to buy at a time when bitcoin was at its peak like it is today. This reminds me of the end of 2018 where bitcoin prices fell after ATH was formed.

Considering that in 2020 there have been many complaints that everyone has experienced due to the pandemic, of course we will all try to make new plans, to fix everything that is left behind. all have their respective resolutions.

for crypto activists, they will really do their best, investing some of their assets as best they can to cover up 2020 which is less profitable for most people. As for those who are just starting to put their money into crypto, hopefully this will be the start of a better career.

You should do that before we see the most incredible prices of bitcoin can reach soon. In my finances, I'll continue to invest too. And I'll create a list to track all of those investments that I have. Bitcoin/crypto mainly to be the distribution of any income that I'll get. I don't have a certain percentage how much it would be but I'll distribute on it as soon as I got my money. For expenses, I'll also list it to avoid where I'm spending that much to things that are not of my necessities.

I am planning on surviving honestly. I don't know about other people, how you managed to spend your 2020, but it hasn't been too nice to me just like other tens of millions of people, probably hundreds of millions of people, financially. So in 2021 I have just one dream, never go in debt, as long as I can live 2021 without having any more debt than I already have that would be fine with me.

I can't even begin to think about putting money aside or anything, that would be like a dream and I am not even sure it could ever happen this year, but in any case I will not be even aiming at that however if it happens I am sure I will put it on ETH. If I had any aim to save money, that would be 32 ETH, I know it doesn't pay well with just one 32 ETH, only 5% or so in a year, but I say that would be better than any other investment I could make in the fiat world.

Ah, the traditional "Whatcha gonna do for your new year's resolution?" thread.

Manage my finances?  Same way as I've been managing them for a long time now--I stay away from debt and live frugally.  No credit cards and if I have to or want to buy something, it'll only get bought if I have enough cash.

About things in general, I think last year I said I was going to try to be a better merit source, but I'm not sure if I actually improved.  I think I'm going to make that same resolution right now, and it might be easier this time since my sMerits are being replenished much faster than they were for a good part of 2020.  Now it's just a matter of finding posts worth meriting (which is always the stumbling block).

Happy new year to everyone here.  Stay healthy!

I’m going to hold and save as much as possible fiat during 2021. This is all due to covid-19. Our country is still on partial lockdown, number of cases still grows, even though we had first supplies of medicine delivered. With all that decrease in econonics, countries 2021 budget is in such deep ass, that government will try to squize every pennt from us. Think next year will taugher than 2020, that is why I’m going to economize on things I could have spent money on just for fun.

In Auckland (Newzealand) New Year has already dawn and people have begun to celebrate the new year. As per the present condition, it is time for survival than making resolution and financial plans. In my country the new year celebrations were stopped and the lockdown has been extended to 31st January. This means once again we're into the life same as 2020. What need to be prioritised is the positivity within us, because it isn't easy to live in a place where people will be surrounded with negative thoughts.

This coming new year, as soon as the crypto price gets corrected, I'll start saving more crypto. I also plan to spend more of my free time learning about trading and crypto. This year had been a huge roller coaster ride, the pandemic, the bull market, and a lot more. This had brought a lot of lessons for me. May the upcoming year be fruitful to each of us. Happy New Year.

My focus is to save money for future expenses since I don't have a stable job and I'm only relying on here in crypto. Since I don't have much bitcoin with me, I will continue to hold them and I also plan to save more altcoins for the altcoin seasons.

Since we are mostly affected by the pandemic that will surely be lasting until next year, I need to handle my budget well and lessen my expenses.

I think I did pretty good in 2020 if we’re gonna talk about finances. I haven’t had any unnecessary spending on my part, and haven’t incurred any debt whatsoever and increased my investments portfolio by a bit. Perhaps in 2021, I’ll try to widen my position in bitcoin even more and commit to buying every salarg again, just like what I did 5 years ago. With the way things are going right now, the only way for bitcoin is up from here.

Yup, everyone will be directed to the same results now, and thats holding. This is because of increased price of bitcoin and it's added bonus that we have more users than the previous years. This user base will keep on increasing over the period of time and thus demand for btc.

The end conclusion? Well more capital investment and thus more price.



Without any doubt this is best idea to follow up. As far as it's you, I know you will have more capital through your Artist Hands dear Maus0728. 
For you it would be better to keep saving that money and using it over your education. Moreover you can always save up some portion of this income into bitcoin for longer storage.

---

In anyway, it's best to hold since everyone is agreeing and voting to this way of earning more promptly than others. 

I will still hold bitcoin for some time and not going to sell if the price does not reach my target price. I will be happy to sell bitcoin if the price can rise more than $50k because that means, my profit will be bigger. But I also still trying to make more bitcoin from trading because this current situation can give me a chance to make more profit. I know that I need to learn more about trading, so I can get more opportunities to make a profit from trading. But I will sell my bitcoin if I need money to buy my family's daily needs, and I will sell bitcoin from the profit that I got from trading.

I would still save them for this year and won't be planning to use in the near future. Unless there would be unforeseen circumstances that I need it badly then I would use it to the least possible way. I'm still waiting for a better time and amount before I can utilize it effectively

I am planning to hold bitcoin for long term so using Dollar(peso) cost averaging is my best bet while being frugal at all cost. I am just a student living alongside with my parents so bills and other expenses is not a big deal (for now).

Also, I am learning on how to trade and I even enroll myself to a trading course which will serve as a guidance to how and when to execute a trade. We're starting the guided trading session by January so I think that would be a great deal to learn risk management. I am hoping that I can do it consistently throughout the year while studying.

Well I guess still the same, just HODL bitcoin next year and see how it goes. Everyone is saying that 2020 is a good year, but 2021 is going to be better as it might be the bubble that we all have been waiting, so the price could go as high as $50k-$100k.

So earn or buy bitcoin, save in your wallet for a year and just wait for it to rise. Regardless though, I will still look at every thing that I spend for next year, we really need to take control of our finances, there are still a lot of uncertainty, and even if there is this vaccine already, it will still be different and we can't go back to the normal way of life.

Save enough money to invest in bitcoin when the bull run stops and the bear season starts. I do not have that much plan when it comes to finances besides lessen my spending on things that do not go up in value overtime. Also do not put your plans for others to see like a resolution, it is better if you just do it instead of saying it to the world that you can do it, you are more likely to succeed with your plans/resolutions.

We all know how this year was, mostly all the negative words would come out of our mouth! That's because many people lost their job, got sick and got entangled into pandemic disturbance. Whether you are a doctor, surgeon, mechanical engineer or artist, all of them struggled one way other.

This was real loss emotionally as well as financially.

---

The 2021 is one day away (for some time zones 2 days).

With the new year, only our calender is changing but "Pandemic" worsens with all new mutations. It means more challenges to manage our finances over the time.

I just want to know how different people from different countries are going to look forward to their finances?

---

For example, I have made resolution that I am going to contribute few % of my salary directly into the bitcoin purchases and will continue this for next year no matter what the condition is.

My reason is, I see huge up surges in the upcoming years considering bitcoin is getting stronger economically.

Whats your plan?