As I learned about personal finance, I started with the envelope system, and gurus like Dave Ramsey are good at teaching this. Avoid consumer debt, live below your means, save the difference, pay yourself first, stay humble.
The next step was to learn better definitions of words like asset and liability, small business vs entrepreneur vs investor. The importance of cash flow over net worth. Robert Kiyosaki helped here. Don't listen to Dave Ramsey at this point, his advice on investing is horrible.
Next, I read Phil Town's book Rule One Investing, learned how to gauge a company's intrinsic value, and buy shares on sale. I also learned option trading from Phil.
More recently, I learned about Bitcoin primarily from nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak and nostr:npub15879mltlln6k8jy32k6xvagmtqx3zhsndchcey8gjyectwldk88sq5kv0n. Sound money has got to be the basis of eveything with personal finance.
But I'm troubled by the "stay humble and stack sats " mantra, because it seems to be going back to the Dave Ramsey mindset that I already grew past. Maybe we are still too early in bitcoin to have investing for cashfow and growth oppotunities...
#asknostr #personalfinance
One premise of #bitcoin, is investing is no longer required, hence the stay humble and stack sats mantra.
If you want to invest I. Other things by all means go ahead, but measure your returns in the hardest asset—bitcoin—and you will find few investments match the potential to change everything and present such value.
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