Frugal

Frugality & Bitcoin

By tokyobitcoiner | Cryptokyo | 22 Nov 2021


Frugality - being economical with money, food, things,  and time; being thrifty

So what is the connection between Bitcoin and being frugal?

Simple, the less fiat you spend, the more you can convert to Bitcoin.

Imagine if you had done this say the last seven years where would you be if you had DCA'ed (dollar cost averaged) into Bitcoin?

Changing from an asset (dollars, pounds, euros) that is losing its value to, as we all know, the best-performing asset in the world - digital gold - Bitcoin is a no-brainer!

Ten simple frugal ideas

  • instead of eating out or ordering expensive UberEats or DoorDash, cook your own meals, perhaps cooking too much and freezing some food for the future
  • grow herbs, vegetables or fruit on your balcony or in your garden
  • make your own coffee instead of paying over the odds for expensive Starbucks - take a cue from Graham Stephan How to Make 20 Cent Iced Coffee
  • really, really think before you buy something, ask "Do I really need this?". I stop myself from buying say a new T-shirt or coat when I remember the brand new, as-yet-unworn clothes in my drawers, "Do I really need a shiny new pen when there are hundreds of pens in the house?"
  • if some technology works there is no need to replace it; sure a new MacBook Pro or iPad Mini would be great but if you current equipment still runs why not keep it until you really have to replace it
  • try to re-use or repurpose stuff; old T-shirts or towels can become cleaning rags, old toothbrushes for cleaning; there is even one blockchain project Chia in which you can repurpose old hard drives (HDDs) for farming and start HODLing $XCH
  • use up everything, get the last drops from the toothpaste or shampoo bottle, use left over tomato ketchup and mustard sachets from takeouts, anything you can get for free - use!
  • walk instead of using public transport or a car - it saves money AND the exercise is healthy
  • be thrifty with your time - don't waste time; try to maximize earnings, output, productivity and fun with your time. Invest time into worthwhile things - YouTube is a great source of inspiration & education
  • Get a side-hustle to earn extra income, when you are working you aren't spending, even if the side-gig doesn't pay so well, save all the income, change into Bitcoin, HODL and, in a few years, look back and you'll be astounded how much you earned in BTC terms

If anyone has any other frugal ideas leave a comment below!

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Thumbnail photo by Towfiqu barbhuiya on Unsplash

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tokyobitcoiner
tokyobitcoiner

www.tokyobitcoiner.com Tokyo Crypto Directory (Players and Places), monthly updated Tokyo events listing (blockchain, DeFi, fintech), random thoughts www.fivefreecryptos.tokyobitcoiner.com Curated list of working faucets!


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I’m just a simple man, trying to make my way in the universe.

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