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| comment | | "parent_author":"",<br>"parent_permlink":"money",<br>"author":"chekohler",<br>"permlink":"forced-to-be-frugal",<br>"title":"Forced To Be Frugal ",<br>"body":"Hey Jesspenders\n\nThe world's spending spree experiment is slowly coming to an end or should I say rather abruptly and we're in for fundamental financial changes that will be felt for years to come. Up until now the majority of consumers were either living paycheque to paycheque consuming every bit of disposable income they had,<br> or they were overleveraged. \n\nPulling money out of the bank with student loans,<br> car loans,<br> credit cards,<br> and mortgages and promising a piece of their future income for years to come in exchange for acquiring something that isn't worth much in terms of a store of value. \n\nWe all know credit cards are spend on frivolous expenses,<br> a home is not a store of value,<br> a car is for sure not a store of value and if a formal education was a store of the value we wouldn't be in this mess. \n\n![ (https:\/\/reachfinancialindependence.com\/wp-content\/uploads\/2016\/10\/Why-Frugality-Isnt-Really-the-Key-to-Financial-Independence.png)\n\n**Image source:** - [reachfinancialindependence.com (https:\/\/reachfinancialindependence.com\/frugality-isnt-really-key-financial-independence\/)\n\n## The musical chairs of money\n\nIn our current spending system,<br> it was all about moving money between hands as fast as possible and not thinking about if purchases were actual value for money,<br> it was a game of monetary musical chairs. \n\nNow that the music has stopped we find a lot of people holding nothing as they were in between money either they just passed theirs on and now they're waiting for more to come there way to keep it going. This is why governments who can afford to are printing money like there is no tomorrow and trying to get it to people in one way or another.\n\nVery few people took the time to save since savers are losers in a low or negative interest economy. In an inflation-based debased currency saving is losing,<br> why save when if you spend now you can get more purchasing power out of it.\n\nPeople never questioned it for a second and now that the system has stopped they're seeing they've left themselves exposed.\n\n## The spending stops\n\nYou see one man's purchase is another man's salary since spending has stopped,<br> salaries have dropped. We're seeing mass layoffs around the world and businesses shutting down completely and never to be seen again. Those who saved aren't guaranteed to be okay but they do have a certain buffer to keep them afloat as opposed to the vast majority who don't. \n\nThe ability to not spend for a while will come as a reflection period for all of us,<br> some will take it and turn it into a positive while others will continue to ram their heads against the wall. \n\n## Some will learn and earn others won't and burn \n\nOnce the economy gets back to full swing some will get back jobs and we will start to rebuild. During this phase we will see some change their spending habits and start to create rainy day funds in the means they choose,<br> could be fiat,<br> gold,<br> crypto it doesn't matter,<br> the point is people will look to build buffers for themselves. \n\nThey will start to reduce or altogether avoid certain purchases which will reduce some industries while others will benefit from it. I do think that this will be a small minority as the indoctrination and passivity of most people will have them back into the rat race as soon as possible,<br> trading their labour for any pennies they can get to buy more stuff they don't need.\n\nThis is their choice and ultimately I feel if you don't bear the cost of your decisions you never learn. \n\n## Have your say\n\nWhat do you good people of STEEM think? Has corporate cronyism gone on long enough?\n\nSo have at it my Jessies! If you don't have something to comment,<br> comment \"I am a Jessie.\"\n\n## Let's connect\n\nIf you liked this post sprinkle it with an upvote or esteem and if you don't already,<br> consider following me @chekohler\n\n\n| Buy & sell STEEM | Donate LikeCoin For Free | Earn Interest On Crypto |\n| -------- | -------- | -------- |\n| [![blocktrades.jpg (https:\/\/ipfs.busy.org\/ipfs\/QmTgDgND5V2APviW9S98heiM37EGcZcHiN8PZa82bRWv4u) (https:\/\/blocktrades.us?affiliate_id=3771ac44-8f5f-47f6-b8fc-a143ccc22118) | [![Likecoin (https:\/\/ipfs.busy.org\/ipfs\/Qmax2MU47GJdRjN9eyYSD2GiK6PfJKGdQZ5eVVuxsFdqzM) (https:\/\/button.like.co\/cesc0410)| [![cryptocom.jpg (https:\/\/files.steempeak.com\/file\/steempeak\/chekohler\/YXJUY7oD-cryptocom.jpg) (https:\/\/platinum.crypto.\/r\/7svdqvmqx6)| \n\n<hr>\n\n[![celciusnetwork.jpg (https:\/\/files.steempeak.com\/file\/steempeak\/chekohler\/fh3Eg5v4-celcius-network.jpg) (https:\/\/celsiusnetwork.app.link\/175623c5f1)",<br>"json_metadata":" \"app\":\"steempeak\/2020.04.1\",<br>\"format\":\"markdown\",<br>\"tags\":[\"money\",<br>\"economy\",<br>\"steemleo\",<br>\"leofinance\",<br>\"palnet\",<br>\"neoxian\",<br>\"point\",<br>\"politics\",<br>\"business\" ,<br>\"users\":[\"chekohler\" ,<br>\"links\":[\"https:\/\/reachfinancialindependence.com\/frugality-isnt-really-key-financial-independence\/\",<br>\"\/@chekohler\",<br>\"https:\/\/blocktrades.us?affiliate_id=3771ac44-8f5f-47f6-b8fc-a143ccc22118\",<br>\"https:\/\/button.like.co\/cesc0410\",<br>\"https:\/\/platinum.crypto.\/r\/7svdqvmqx6\",<br>\"https:\/\/celsiusnetwork.app.link\/175623c5f1\" ,<br>\"image\":[\"https:\/\/reachfinancialindependence.com\/wp-content\/uploads\/2016\/10\/Why-Frugality-Isnt-Really-the-Key-to-Financial-Independence.png\",<br>\"https:\/\/ipfs.busy.org\/ipfs\/QmTgDgND5V2APviW9S98heiM37EGcZcHiN8PZa82bRWv4u\",<br>\"https:\/\/ipfs.busy.org\/ipfs\/Qmax2MU47GJdRjN9eyYSD2GiK6PfJKGdQZ5eVVuxsFdqzM\",<br>\"https:\/\/files.steempeak.com\/file\/steempeak\/chekohler\/YXJUY7oD-cryptocom.jpg\",<br>\"https:\/\/files.steempeak.com\/file\/steempeak\/chekohler\/fh3Eg5v4-celcius-network.jpg\" " | | comment_options | "author":"chekohler",
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