Money mindset series

Welcome back to the Fuzzy Education Newsletter, where we explore the world of crypto, blockchain, and the web for free. You may have entered this world hoping to make quick and substantial wealth, but I have some home truths to share. Only some will become successful traders and get lucky enough to hit it big.

TL;DR: The Fuzzy Education Newsletter explores crypto, blockchain, and the web for free, focusing on the technology and its utilities rather than chasing fast and huge gains. The newsletter emphasises the importance of financial literacy and developing good money habits before entering the world of cryptocurrencies. The author shares their personal experience with debt and encourages readers to reflect on their own relationship with money. The upcoming entries will discuss personal development and the basics of wallets, cryptocurrencies, and blockchain technology.

Sure, it's possible to make significant gains in this growing asset class that's still in price discovery, but for there to be winners, there must also be losers. So my approach has been to dollar-cost average and focuses on the technology and its utilities rather than chasing fast and huge gains.

If you're here to learn about the technology and what these digital assets on the blockchain can do, then you're in the right place. However, if you're here to find the next big 100x crypto gem, someone else is the person for you.

The journey to financial literacy and confidence in personal finances begins with understanding the fundamentals of how money works, economics, having a good money mindset, and developing good budgeting and saving habits. If you're from a position of lack, such as a working-class background with a poor relationship with money, debt, and finance, resolving these issues before entering the world of cryptocurrencies is crucial. Otherwise, you risk carrying these harmful mindsets and habits with you.

My journey has been in reverse. Unfortunately, I've spent tens of thousands of pounds on cryptocurrencies, ridden things up and down, and am currently in debt paying off a bank. This debt affects my credit score, and I'm still determining how it will affect my credit ratings for the next six years.

I had a student overdraft that I thought I could pay off before the end of 2021 and 2022, but it didn't happen. Now, I'm fortunate enough to have a job that allows me to pay off my debts while still creating content and figuring out how to monetise it with my social token, the Fuzzy Coin.

Why am I sharing this with you? I will never make myself out to be someone with a lot of money or Lambo. Instead, think about your current relationship with money and get it sorted out before venturing into cryptocurrencies.

So, we will journey into the book I'm currently reading, Money Basics by Peter Komolafe of conversationofmoney.com, and explore its exercises. In the coming newsletter entries in this series, we'll also discuss how to correct the ship's course by focusing on personal development and the basics of wallets, cryptocurrencies, and blockchain technology.

Thank you for your time, and let's get into it.