The Year-End Financial Paradox: Rich in Family Relations, Poor in Fiat

Some of us spend more at the end of the year than the entire year like saving throughout the whole year just to spend in the last couple of days when there's event like Xmas, birthday or on marriages, it all happens at the end of the year

and another thing is that by the time we're in the last week of year everyone's already poor in money except market makers, Vc's and your boss

But everyone is rich in a sense that they've got family and relations all in one table at home. But we need to maintain the balance by keeping our finances above that broke threshold.

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All in Crypto at the year end: Wise or Dumb Choice?

The price action we've seen this month is enough to tell that it's a dumb decision to be all in crypto in the month of december but now when it's last week

It makes sense to be all in crypto as the price are down -50% or more from the highs and new year will make that portfolio gains look good again.

For now it is the most illiquid period of the year when everyone off their desk and market is paralyzed for no reason.

I made dumb choice by not selling it before and now holding down whatever the dust left in portfolio. My portfolio is kinda giving me broke vibes because this time

I ran out of fiat in bank

Just when I think it can't get worse at the year end, it got worse when I checked my account and there's nothing there

Like all I can get from this is one fries for 50 lol.

In all these years I've always been all in crypto and only kept the fiat that is needed in real life for bills and groceries etc

I've not spent a penny on online shopping at the end of year, there's big discounts and sales going on but I've avoided those yet ran out of money cause of inflation

But for the next month, I mean for the new year I need to pray that market goes up otherwise I'm cooked when those bills and rent will arrive.

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Never took loan, liquidated assets to pay bills

I've this rule of not taking loan no matter how bad things are I'll have to manage it on my own because expecting from anyone is weakling thing

So there were time before when I was all in crypto and it was too down but my balance was zero with pending bills

_{image by Scott Warburton from Pixabay}

Had to swallow the hard pill by selling at those prices, taking the losses to pay for things on time.

It's like you've to manage your finances carefully and I need to improve a lot in this cause I'm not so good at this as of now.

No taxes pending, just bills and rent

It's the last week of the year so many people are busy clearing their taxes and bills or rent meanwhile only good thing I can see is that I don't have to pay any taxes

Not on my crypto holdings which is a blessing and on fiat side - I'm broke, bankrupt..so no tax to pay.

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Wrapping Up...

In the end I wonder how much tax you pay on crypto in your country. I've seen a lot of people saying it's a lot and not fair.

And how difficult it is to manage your finances by the end of year? Do share your thoughts and opinions on this in the comments.

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fin.