Sustaining life with Crypto

Sustaining life with Crypto

By belemo | belemo | 14 Jun 2021


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I got married about a week ago and that comes with a new type of responsibility. When I was alone, I pretty much winged it and didn't have any specific income, however, I just made it a point of duty to live below my means.

No longer alone, my life now has a "woman's touch" and with that comes the extra requirement to be intentional about our income. Just like me, she also thinks we should live below our means, however, unlike me who largely winged it to accommodate frivolities, she wants us to have a specific amount we withdraw from our crypto every month.

This amount will only be used to cover household stuff like food, water, toiletries, and stuff like that. On top of that, we will also have to intentionally save whenever we want to acquire any major item like a car, refrigerator or whatnot.

This tweak in approach is slightly different from mine where I just borrow from me and payback later. Thanks to this new approach, we will now have to be even more rigid with our finances, as we accumulate crypto to increase our portfolio.

Paying with tokens

When it comes to covering the household stuff, we will adopt a very moderate amount. Both of us don't have any expensive needs, in terms of food and all that stuff. So we decided to work with a moderate $150 per month and that will be accumulated through Hive-engine.

After powering down a fair bit of my hive and reinvesting it into Leo, Cubfinance, AVA and a bunch of other Hive-engine tokens that earn staking rewards, we have decided that we'll use those earnings to cover the household requirements. Thanks to this approach, we will not be liquidating any of our dividend-paying assets and it will even spur us to enlarge our portfolio.

The main avenue that will be used for sustenance are Hive-engine Curation, AVA staking rewards, and Cub finance only when the earlier parts don't work out. At the time of writing, it is not looking likely that we will accumulate it all from just curating but here's how it's looking;

  • Leo token: $10 per week
  • Proof of brain token: $15 per week
  • CineTV: $5 per week
  • Travala(AVA): $10 per month
  • Cubfinance: Fills the gap.

Here's the thing though, these figures are only based on the current price of the tokens, so it could go either way. However, at this very moment, I could raise roughly $110 a month from staking and curating. TO raise the remaining $40 will take about 2.5 days on cubfinance, based on the current price.

The rise in the price of each asset will invariably mean that we achieve our target much faster and with less hassle. Also, it is also worth noting that I have a separate curation account, so I will be posting daily and increasing my stake, thus increasing my curation earning.

I have lofty ambition, particularly with my Leo stake, so I will be staking my post rewards indefinitely, and will also be making strategic purchases with my earnings in Cub finance. The news of Cub kingdoms has come with a lot of excitement that is currently reflecting on the price. If Cub continues to rise as it is, I'll make even more Leo purchases on Cubfinance with my earned cub to increase my stake.

Leo is also currently trading at a discount, so I took advantage of the opportunity to power up over 4k of the token. For POB and Cinetv, I pretty much powered up everything and delegated them to my wife for curation.

AVA is also dirt cheap right now, so whenever it goes to my real target of $100 per token(can I get an amen @trumpman and @empoderat?), my monthly staking rewards from that token could more than double our monthly household requirement and the excess will be held or reinvested into other dividend-paying ventures.

The ultimate goal

The main goal hasn't changed and that's to exit this country. However, we don't want to liquidate our investments to achieve that.

The bigger dream and point of all this staking and living below our means is to get our staking and monthly earnings to the point where we can pay our way out of the country. We're weighing up different options and routes to exit this place, but ultimately, it boils down to money.

To achieve this, we need to prepare ourselves for life in a variety of countries, and that means taking language courses. One will be French and the other will probably be Portuguese because Portugal is one of the most crypto-friendly countries in Europe.

If everything goes according to plan, we should have been accumulated enough to exit this place. Now the next thing is getting ourselves into the mental frame of mind to actually execute it. Emigrating is a big step in life and so it's not something we can just do on a whim.

Keeping it real

The crypto industry is very risky, so while I try to diversify, I also try to stay within familiar limits. This is why other than Travala, all my other investments are within Hive or hive related projects.

This plan requires planning and strategy to execute but it also requires some luck. If things actually go according to plan then we'll be good. However, there are various redundancies and failsafe mechanisms in the system that will cover for potential shortfalls. Fingers crossed for the future and may the odds be in our favour.




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belemo
belemo

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