Wednesday 28 August 2024

Escaping from Reality and spending so much in the process

I went overseas a few times this year, mostly short period lasting 1 week to a little more than a week. After every trip, I felt refreshed and enjoyed the trip and break from work. With this, I do see myself going overseas once in a while to have a good break from the environment in Singapore.

Singaporeans tend to travel pretty frequently because domestic travel is not really possible although I am sure we do have staycations or going over to JB but we love winter and experiencing the different seasons in other countries that Singapore does not have. Also, our surrounding countries can provide their different cuisines at such a competitive price that it kinda make sense for us to travel once in awhile to reap the benefits.

I realised that going for a trip, inclusive of air tickets, expenditures, travel insurances and lodging, it can add up to a substantial bill just for a break from reality. There are definitely more affordable options but air tickets and accommodations are already a substantial cost due to inflation.

I have also been exposed to slow travel recently and want to do it at least once where I stay in a country for at least a month or longer.

Save to spend? Never ending cycles

I find myself saving but then spend it all when it is time to travel and then begin the process of saving again. I invest and do separate my savings from spending amount but I do think that it is easy to spend everything out if you do not have a plan or if you are not financially savvy.

I kinda really let loose from about a year ago when I saw my investments grow and realise that I should be spending some to have experience and more so to enjoy especially after working hard. The pandemic of course, helped me save as I was able to keep my job and even moved on during that period for a better paying job. I saved more during that period as I ate home cooked meals and wasn’t even spending much.

But now that I have loosen up, online shopping, buying good food and travelling have been adding up. I don’t mind it but I also don’t want to lose control over it so I have been trying to improve it by creating some rules.

Making sure a bucket of wants is being accumulated

Having a separate budget for it is also one way I cope with the extra spending. Of course, some times, it is not as easy if you have a tight income, I would even say that it is not easy to set it aside and not touch it.

I used to save in one bank account and when I had big expenses, I would dip into that, it proved not too good as my saving and spending were together and would get mixed up. Spending some of your hard earned money is nice and I think it is good to loosen up especially if you have adhere to your savings/investments.

Travel is an amazing experience and best to do it when you are young to maximise it

I think travelling can be a tiring and a grueling experience depending on where you travel to and how you plan, you also want to make sure that you are maximising your time overseas and so often than not, you pack your days with activities and places to visit. Just based on that, being young is an advantage because you would have more energy.

I do also realise that being spontaneous can make a trip more exciting, of course, age is not a factor in that but being young means you can do much more activities without being weigh down, especially when you are not travelling with kids.

However, on the other end, travelling is not a cheap expense and some times, you don’t even know the limit because once you are overseas, there might be experiences that will be outside of your budget or if unforeseen circumstances occur eg, faults of systems or breakdown of certain infrastructures or getting ill. So making sure you have sufficient cash before having that trip is equally important. With that, I will be travelling soon for a week long and been looking forward to it.

As to my plan for a slow travel experience, I will need to plan it or be able to work on something as it is not easy to be doing that with a 9-5 job. I am definitely very privileged and grateful to be able to travel frequently. 

Affiliate links/Codes:

► Where I store my Cryptocurrencies:
► Ledger: https://shop.ledger.com/?referral_code=980EF358BYAQM (Earn $10 in BTC)
► Where I buy my stocks:
FSMone Referral: P0364886
Tiger Brokers
Interactive Brokers (Open an account today and start earning up to $1000 of IBKR Stock for free!*Terms and Conditions apply)
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Sunday 21 July 2024

Looking forward to the ETH ETF release on 23rd July 2024

 Twitter has been having lots of discussion on how Ethereum (ETH) will react to the release of ETFs after Bitcoin’s (BTC) successful release which propel BTC to it’s high of almost US$74,000 in March.

Some have mentioned that ETH might reach another all time high while some say that there will be a selloff and ETH will lose power from here as it is a much more difficult product to sell than Bitcoin etc.

What I think

I am not too pessimistic and with Ethereum being the largest portion of my crypto portfolio, I definitely would like it to be performing well. I do see the ETH ETF as a positive in flow for Ethereum but not too sure how retail tradfi investors will react to it as it is not as simple as Bitcoin.

Today is 20 July 2024, we can see an overall positive trend for cryptocurrency as they go green. Overall, it is a great achievement if we just think back on the journey.

My Journey in crypto

I started crypto investing in November 2020 when Bitcoin was $18,000

Read more: Cryptocurrency | Why I am getting into it and is it too late? 

At that time, I was thinking that I got in too late, buying it at $18,000 (of course, I wasn’t able to afford one), I bought it in decimal points hahaha but from that time on, I started on my journey to reading up and opening up to this other world of investment products that would propel my portfolio to another level.

End 2020 and 2021 were amazing years for crypto, money was piling in, Youtubers were talking about it, NFTs were the craze. My portfolio was about $30,000 at that time and we also saw GameStop mooning in early 2021, getting my ledger nano S set up.

I got into Ethereum soon after and then the crash happened, my whole portfolio was devastated but I was happy it happened when my portfolio was $30,000 because it taught me not to sell in fear and that HODL-ing was vital and if possible add more position at a cheap price.

Read more: Reactions to a market dip | Having some panic to being calm and buying the dip

I was scared as it was my first crash and BTC in 2022 fell to US$14,000 while ETH fell to a low of about US$966. I did not add much as I was afraid but I was proud of myself for holding on and not selling off, as they slowly recovered in 2023, I started adding positions and now hold a substantial position relative to my portfolio. It wouldn’t make me a millionaire but I am comfortable with the current amount unless it goes up so high that I would have wished I bought more.

Read more: I got liquidated and lost my whole LUNA position | Anchor Borrow

What I am doing

In the previous bull market, I did not take profit and instead held through the highs and lows. For this time, if it soars up above US$4500, I might take profit, what I have done is to have a ladder way to take profit. I set multiple price targets and with each target hopefully, I will sell some and eventually hold onto the remaining.

I am excited that it is happening within my lifetime haha and it’s just so cool and fun to be part of it. Sitting tight for the ETH ETF and hoping for rockets to blast off but crypto is unpredictable so we shall see if it will be upwards or a sell off towards the downside.

Affiliate links/Codes:

► Where I store my Cryptocurrencies:
► Ledger: https://shop.ledger.com/?referral_code=980EF358BYAQM (Earn $10 in BTC)
► Where I buy my stocks:
FSMone Referral: P0364886
Tiger Brokers
Interactive Brokers (Open an account today and start earning up to $1000 of IBKR Stock for free!*Terms and Conditions apply)
►Syfe Trade Referral Code: SRPSL8MGX
►Syfe Wealth Referral Link: SRPSL8MGXE