Tag Archives: spending money

My Early Experiences With Bitcoin And Helpful Tips I’ve Uncovered

Recently, I finally took the plunge and bought some Bitcoin. I even wrote shared the experience. Overall, it wasn’t that groundbreaking. It didn’t involve a radical rethinking of how I used or thought about money. It was not that different from depositing money in a new account from an ATM. The account in this case just happened to be Bitcoin.

Since then, I’ve bought more Bitcoin. To date, I have a couple hundred bucks in my lone Bitcoin wallet. I’m still using BRD, which is one of the simplest wallets you can get. I have looked into getting others that have more features, but many of them seem to be more trouble than they’re worth.

That may change. I am quite interested in what BitPay has to offer with some of their services, but for now, I’m content to stick with BRD.

However, since I bought my Bitcoins, one issue has come up and I suspect it’s still the primary issue that most people face when they first get involved in this. It’s probably the same issue that prevents a lot of people from getting into it to begin with.

How do I spend my Bitcoins once I have them?

It’s the main issue that all these cryptocurrencies face. Getting them and securing them is challenging enough. Actually spending them like real money is still a challenge. While there are some noteworthy merchants that accept Bitcoin, most major retail outlets do not. You cannot use Bitcoin at Amazon or WalMart or even a standard grocery store just yet. Until that changes, its use will be limited.

This is what kept me from buying much of anything with my Bitcoins. Then, I discovered a useful tool that has helped make that easier and I think it’s worth sharing. While it’s true that companies like Amazon and Apple don’t accept Bitcoin directly, you can still use them. You just have to do it indirectly.

One way to do this is to use a site I found called Bitrefill. What it does is simple. You just use your Bitcoins to purchase digital gift cards for popular retail outlets. It works like this.

Step 1: Go to Bitrefill.com and browse the various gift card options, which includes the likes of Amazon and Walmart.

Step 2: Pick a gift card, choose an amount, and enter your Bitcoin account information for the desired amount, which is usually around $50 to $100.

Step 3: Complete the purchase and wait for the gift card code to come in via email. Then, just add the amount to your existing account.

For those who buy most of their stuff on Amazon, this is a quick way to turn your Bitcoins into something spendable. There are a few other workarounds, like Moon and Purse.io, but I’ve found this to be the easiest. There’s even a similar website called CoinsBee that allows you to do the same to your Apple iTunes account.

Basically, if you know how to send or spend gift cards, you can spend Bitcoin. Does it require a few extra steps from traditional cash? Yes, it does, but you can still spend it.

That may still raise the question as to why bother with Bitcoin in the first place. If it’s just adding an extra step between you and the retailers you prefer, then what’s the point? Well, this is where I’d like to share another part of my Bitcoin experience.

After buying my first batch, the price went up. I don’t know why, but it did. Suddenly, the first hundred bucks I put in was worth $125. That was great. It was downright thrilling. Granted, it did go down to around $103, but it was still impactful in a major way.

That’s because Bitcoin, unlike traditional money, fluctuates in value. Many see it as a reason why they don’t buy in. It’s just too volatile. I can understand that, but I also understand the impact of inflation.

If you go to your bank account right now and look at your money, you won’t see it change much in terms of value. However, inflation does ensure that its value goes down. It’s not a conspiracy. It’s just basic economics. Over time, most fiat currency loses value. That has been the trend for nearly a century.

With Bitcoin, it fluctuates. One day, it has more value. The other, it has less. You’ll win on some days, but lose with others. With regular cash, though, you always lose. You don’t lose nearly as much. Most of the time, it happens so slowly that you don’t even notice. Even so, losing is still losing.

The Bitcoins I have now may only be worth a few hundred bucks. By this time next year, they could be worth a lot more. That’s even more money I can convert to Amazon or WalMart gift cards. There’s also a chance the price could crash, as it has before, but given the finite nature of Bitcoin, there’s more incentive for its value to increase rather than decrease.

That doesn’t mean its value will always go up. There’s still a non-zero chance that Bitcoin’s value could stall or outright collapse, as other currencies have in the past. That’s why I’m not converting all my money into Bitcoin anytime soon.

For the time being, though, I’m satisfied and encouraged by my Bitcoin experience. I also encourage others to get into it as well, if only to get a feel for it. Hopefully, the sites I’ve listed here will help you get some use out of your Bitcoins. Money is a powerful force in this world. So long as Bitcoin and other cryptocurrencies keep operating as such, they’ll have a part in our future. Now is as good a time as any to carve your place in that future.

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Lasik Eye Surgery: The Best Money I Ever Spent

We all waste our money on incredibly stupid things. I don’t care how frugal you are. At some point in you’re life, you’re going to buy something that will ultimately be a waste of time, money, effort, and patience.

There’s nothing wrong with that. We’re only human. Hell, you could argue that wasteful spending contributes significantly to the overall economy.

Then, there are those select items or services that are worth every penny you spent and then some. They’re a lot less common and understated, but that’s exactly what makes them so valuable.

It’s easy to waste money on something stupid. Browsing Amazon or EBay for any length of time will accomplish that. Buying something that feels completely worth it, even years after the fact, is much harder.

Sometimes, it’s an investment. People who bought stock in Amazon or Google in the early 2000s can attest to that.

Sometimes, it’s personal, like a ring or a piece of artwork. The dollar value, in that case, isn’t as great as the sentimental value.

Sometimes, you buy something that you don’t think is too valuable at the time, but it only grows over time, like your first comic book, video game, or romance novel.

I could list some of my most cherished purchases and tell the story behind them. However, I’d like to highlight just one that, by pretty much every measure, was the best money I ever spent. It wasn’t an investment. It wasn’t cheap, either.

It was elective Lasik Eye Surgery. To date, this is still the greatest thing I ever spent my hard-earned money on.

Now, the story behind this requires a little context. For the first 25 years of my life, I endured some seriously terrible eyesight issues. I found out early on that I had Astigmatism. It gave me blurred vision and terrible headaches. It was not pleasant in the slightest. As a result, I started wearing glasses when I was in third grade.

I never liked it. I didn’t like how my glasses made my look, but I needed them. I couldn’t see squat without them. It only got worse over time, so much so that I could barely see my alarm clock in the morning, even though it was just a few feet away from me. For a while, I wore contacts. However, they were expensive, uncomfortable, and a pain in the ass to maintain.

Naturally, I was open to alternatives. I’d been looking into Lasik Eye Surgery for a while, but I was told I wasn’t a candidate while I was a teenager. I was still growing and my eyes were still getting worse. In addition, the technology at the time was still emerging and still extremely expensive.

It was also not something that insurance covered. If I wanted to ever do this, I’d have to pay for it out of pocket. For someone who left college with plenty of student loan debt, it seemed like a distant dream.

I endured glasses and terrible vision for most of my 20s. Even after I paid down my student loan debt, I continued life with glasses and contacts. My eyesight continued to be an ever-present pain in the ass.

Then, as it just so happened, I had a roommate who had Lasik surgery done. She also had eyesight issues similar to mine. She was the one who referred me to the doctor who ultimately did the surgery.

At the time, I’d saved up approximately $7,500. Some of that was emergency money, but most of it was mine to spend. This surgery would cost me around $6,500 total. Again, insurance wasn’t going to pay for this. I had to foot the entire bill. While I was conflicted for a time, I ultimately decided to take the plunge.

To date, it’s one of the best decisions I ever made.

I won’t say the procedure was easy. In fact, it was downright uncomfortable and the drugs they gave me were a bit too strong. On top of that, I needed two procedures to fully fix my eyes. My vision was just that bad.

However, as soon as I got up from that operating table, it was like a miracle. To this day, I still remember that feeling. When I went into the operating room without my glasses, there was this large warning sign about wearing eye protection while the lasers were operating. I couldn’t see much of it. Most of the letters were blurry.

Then, as soon as I got up, those letters were clear. I could read them. I could see them, the doctor’s face, and the details of the wall. It was like magic. I can’t put into words how amazing it felt. At that moment, it sank in.

I didn’t need glasses anymore.

I could see clearly.

I felt more attractive and confident than I had at any point during my awkward teen years. It also did wonders for my confidence. I wasn’t nearly as self-conscious anymore. I could approach people without feeling like I looked goofy. I could also wear non-prescription sunglasses. That may not seem like much, but trust me. It meant a lot to me.

If I had to pay twice the price for the same result, I’d have paid it gladly. I like to think it ultimately saved money on all the new glasses, contact solution, and doctor checkups over the years. It was both liberating and empowering.

I have great vision now and don’t have to worry about losing my glasses. Not all my purchases can ever be that valuable, but this definitely was. Lasik Eye Surgery remains the greatest money I ever spent. Until I meet the love of my life, I don’t see that changing anytime soon.

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How Much Money Do You Really Need?

Most people aren’t born into wealth. The vast majority of the population has no idea what it’s like to be a billionaire, a millionaire, or someone who just doesn’t live with the constant dread that they’re just one missed paycheck away from total ruin. There’s a reason why they’re called the one percent and it goes beyond basic math.

I admit I’ve often contemplated what it would be like if I suddenly became wealthy. I’ve even articulated some of those musings in detail. I suspect most people have day-dreamed at some point what they would do if they suddenly had a billion dollars at their disposal. For most people, it’s difficult to contemplate because, like it or not, money changes people and not always for the better.

When someone asks what you would do with a million dollars, it’s easy to come up with all sorts of answers. Some are inevitably going to be more absurd than others. The movie “Office Space” articulated that point perfectly. However, there’s another question that I feel is worth asking and I also feel it’s more revealing.

How much money do you really need?

I’m not talking about fantasy wealth here.

I’m not talking dream vacations, dream homes, or spending sprees.

How much money do you actually need to live a happy, comfortable life by whatever standards you define it?

That’s a harder question to answer because it varies for everyone. There are some people in the world who think a million dollars isn’t enough. Depending on where you live in the world, that’s not an unreasonable position. Even with those variations, it still doesn’t zero in on the answer. How much is enough?

I’ve seen how people act when the lottery gets above the $300 million mark. In my experience, once things get over $100 million, that’s when even a typical day dream isn’t enough to appreciate just how much money that is. I’ve tried to imagine it and in every case, I come to the same conclusion.

If I had that much money, I honestly wouldn’t know what to do with it.

It’s not that my needs are simple or cheap. I think my costs are fairly average for someone living in a suburban area. If I had $100 million, didn’t invest a penny in stocks or bonds, and stopped making money today, I still wouldn’t be able to spend it all before I turned 100.

I probably couldn’t even spend $50 million. When things get into the billion-dollar territory, it gets even more absurd. Even millionaires have a hard time fathoming how billionaires operate. Most people, even with decent math skills, don’t understand just how much money a billion dollars is.

At that point, you’re way beyond basic needs and wants. You’re in a domain in which you literally cannot spend all that money at once. You have to legitimately try to lose it all and while some people have done that, it often happens in the process of seeking even more billions to add to their fortune. It rarely occurs just by spending money on your day-to-day needs.

In that context, contemplating how much money you actually need says more about you and your situation than it does about your understanding of finance. If you need that much money to be comfortable, then that says something about your mindset and it’s not just about greed. Some want to change the world for the better with that money. Some want to impose their will on it. It depends on who you are and what drives you.

For me, personally, I don’t think I need anything above $10 million. I probably wouldn’t need more than $5 million just to maintain my current living costs, adjusting for inflation, and planning for my future. That might change if I ever get married and have kids, but for now, that’s my perspective.

I’m interesting in hearing how others would respond to this question. How much money is enough for you? How much would you need to be content, stable, and happy? Let me know in the comments. I’d be happy to revisit this issue again down the line.

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