Ever had someone tell you about their big plan to fail?
Of course they don’t frame it with that silly introduction!
“Come over here…let me tell you about this massive financial disaster I’m about to get myself into!”
Usually it’s a little more subtle…but it typically involves a big story about an upcoming purchase that you know they probably shouldn’t be jumping into.
A house that’s way too big. A car that’s way too much. A boat they just don’t need.
And it’s all with easy money loaned out by the fiat bankers. You see, the world has been fooled into believing liabilities are assets, so they buy things on credit. Inside, they tell themselves a comforting little lie.
“Well, it’ll be worth something when I go to sell it. It’s an investment!”
Wage Slavery and Debt-Based Systems are High Time Preference
The Western World is awash in debt at every level.
Households, businesses, and the government.
And yet, everyone walks around thinking it’s just fine. Or worse, that it’s normal, health, and good to have debt backing everything.
Unfortunately, it’s just become a bad habit for many people to borrow instead of save for a large purchase.
Government is a huge culprit and bad influence in this behavior. When people observe their leaders spending trillions of dollars they don’t have, there’s going to be a tendency to follow the example being set. This leads to a “high time preference” society, which is where we are today.
Instead of accumulating and saving capital for a rainy day, everything is financed with debt. Thus, everything becomes more expensive as interest must be paid on top of the original purchase price. And the cycle continues, until there is a debt spiral with creditors having to eat the loans that go bad.
In the end, all of us are fully responsible for our own decisions, so if you aren’t where you want to be financially, auditing your decision making process is a good place to start.
Making the decision to lower your time preference is the starting point.
How to Break Free From Short Term Thinking Patterns
Eliminating short term thinking is the first step to breaking the chains of debt slavery.
If you don’t have the cash to buy a discretionary item, you don’t get to buy it!
Even waiting a week to buy something you think you want or “need” can work wonders, as desire for that item can often wane after you simply put it off for a bit.
When pondering a purchase, remember that every trade you make is one with your future self. The future “you” makes the payments, while the “immediate you” gets the benefits right now. Trust me, your future self is going to hate your selfish self in just a few short months when he’s working overtime to meet the monthly bills!
Once you ease off purchasing items on credit, a deeper desire can emerge. The desire for financial independence and freedom from the current hamster wheel that keeps you running all the time.
Developing Long Term Saving Habits with Bitcoin
Once you’re done with liabilities disguised as assets, its time to get down to owning some real assets.
Today’s world is filled with a million choices when it comes to investing. Real estate, stocks, bonds, precious metals, and even collectibles are areas where people buy with dollars in the hope they can later sell at a higher price.
But there’s one big problem with all of them.
They are denominated in dollars, and dollars can be printed at will by the government.
Have you ever known the government to exercise restraint when it comes to money? (completely rhetorical question!) And it isn’t going to start now.
That is why you must Bitcoin.
Today, you can secure your share of Bitcoin for around $70! For less than $100 bucks you can purchase 262,500 Satoshis, which would be your share if divided among all 8 billion people on earth today.
But you don’t want to stop there.
Securing 1/10th of a Bitcoin is key to wealth in 20 or 30 years. That is the bit shift when it comes to the wealthy vs the poor, they think in terms of decades instead of days, weeks or months.
Currently, a tenth of a Bitcoin will set you back around $2,700. While not a massive amount, it may be out of reach for the Average Joe. That is why you must start now, consistently save, and carefully secure your Bitcoin for the long run.
Opportunity is knocking for the little guy. Larger players still see Bitcoin as Funny Money even though they have been completely wrong for 13 years now. So your chance to front run the billionaires and millionaires is NOW.
Remember, ASSETS make you wealthy - given a long enough holding period.
Bitcoin is monetizing slowly but surely - and in the end, you don’t want to be kicking yourself in a decade about the one that got away!