There is a saying that experience is the best teacher, I am sure you are familiar with that phrase. When I was growing up, I heard it a lot but the situations that inspire people to say it were usually conflict-related - learning to stay away from a situation that has hurt you once.
The above instance is valid but it has nothing on the financial lessons I have learned over the years by making irresponsible financial decisions.
In 2019, I owned a small betting business which although wasn't living up to its potential, was making $30-70 weekly and had a sale value of at least $3,000. For context though, the minimum wage in my country is $63 per month.
I started this betting business in 2016 with barely $300. I started small, expanded and in no time, I extended my business to a different locality.
Everything was fine at the start, but 2 years down the line, I needed a change, the business was no longer viable, especially in the locations I had set them up.
I made a conscious decision to sell my business and move on. At the time, I thought I had everything planned out properly but in hindsight, I was making a calamitous move, one which I came to regret dearly.
With the money I had realized from the sale of my business, I moved into a new apartment with half and invested in another business with the other half, a business that was a lot more tasking than the first but had a little bit more potential. I thought I could make it work because some friends of mine were into the same venture and they were doing okay.
It was such a tidy plan at the time because I also had a side job that was supposed to take care of my daily expenses.
With everything planned out, I started my 2019 very active and very busy but in the end, this new business venture proved too hot for me to handle and some unforeseen family responsibilities made sure I couldn't save along the way.
The business went south and I lost everything, I also lost my job at the end of the year. Double Jeopardy for me.
I started the year 2020 jobless, moneyless, and planless because I had lost my plan and backup plan at the same time, and then the year 2020 started with a bang and everybody was forced inside.
Forced inside by the Covid-19 lockdown, I sought out opportunities online and I stumbled upon crypto blogging, on read.cash, then Hive.
Having been active on Hive for up to 4 months now, and having come to realize all the financial potential it holds, I have been forced to imagine what my fortunes would have been had I invested that $3k in Steemit/Hive.
Now, what inspired this piece is an article written by a Hiver from my home country, he talked about how he was making $75 weekly on curation rewards from LEO and SPORTS. I brought out my calculator, put 2 and 2 together and I realized that he had around or the same capital that I had in 2019, but because he is exposed to better information than I had in 2019, he is making the same or more than I was in that 2019 from the comfort of his home and in most cases without even lifting a finger. He was working smart, while I was working hard and blind.
I know it would be myopic of me to think that investing in the Hive blockchain, staking, and earning curation rewards is the best investment out there or the best use of my money but in comparison to the previous business choice I made, which I thought was the best at the time, I would have been better off investing on Hive. I would have had a better return for my investment, I would have had peace of mind as I would be working from home compared to running around from place to place which I was doing a lot with the previous two businesses.
My last business made me miserable, it took a toll on my mental health and overall mental health, even if it had brought me any kind of profit, it would have still made me miserable and it ultimately failed because I couldn't keep up with the physical demand. Its failure, coupled with the Covid lockdown led me to be jobless for a while and ultimately discovering the Hive blockchain.
Now, what would I have done differently if I had the money I had in 2019 and the information I have in 2021?
I would have made passive income my most active income. I would have invested 75% of my funds in the Hive Ecosystem and earn weekly curation rewards from the tribes I am most active in. I stumbled a couple of times in the past trying to invest in businesses I had little control of their outcome, I failed in those businesses, but my failure wasn't for naught, my failure has led me to discover more viable businesses online.
Thank you @flores39 and @doze for the gifs.
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