TheGuySwann on Nostr: You have to understand why "living paycheck to paycheck" has become so common, and ...
You have to understand why "living paycheck to paycheck" has become so common, and why financial life never seems to move ahead, but instead seems in a perpetual chase to keep up with zero.
We call this "the fiat hamster wheel." It's hard to see when you inside the fiat system, but the value of your money is constantly falling, you are having to get constant hourly wages simply to keep the same purchasing power, & you (and everyone else) is incentivized into a never ending cycle of taking on debt.
Imagine if your paycheck bought you 5% more at the end of the year, *without* any raise, debt was super expensive so you and 90% of everyone else didn't go into debt unless it was important, & everything usually purchased *with* debt was essentially 20% of the price you are used to, because there isn't a constantly propped up debt mountain fueling it's price infinitely higher.
In short, with sound money:
• Debt would be scarce
• Savings would be abundant
• Things would be affordable
• and your money would get more valuable over time
We call this "the fiat hamster wheel." It's hard to see when you inside the fiat system, but the value of your money is constantly falling, you are having to get constant hourly wages simply to keep the same purchasing power, & you (and everyone else) is incentivized into a never ending cycle of taking on debt.
Imagine if your paycheck bought you 5% more at the end of the year, *without* any raise, debt was super expensive so you and 90% of everyone else didn't go into debt unless it was important, & everything usually purchased *with* debt was essentially 20% of the price you are used to, because there isn't a constantly propped up debt mountain fueling it's price infinitely higher.
In short, with sound money:
• Debt would be scarce
• Savings would be abundant
• Things would be affordable
• and your money would get more valuable over time