I honestly don't know how some people are surviving right now. IT's such a tough landscape at the moment.
We're blessed to both be fit, healthy and able to work at the moment. With good jobs, steady income and crypto for myself we are part of the luckier group and it's still tough to survive week to week.
The cost of living is going crazy and with winter around the corner it's not getting any easier. People are struggling and i can see it form the news and from people around me.
I did a quick google search to see how things are looking and found the top two results with rent and without rent.
Summary of cost of living in Ireland
Family of four estimated monthly costs: €5,686
Ireland is the 2nd most expensive country in Western Europe (2 out of 17)
Cost of living in Ireland is more expensive than in 93% of countries in the World (6 out of 70)
Ref: Expatistan
Summary of cost of living in Ireland:
A family of four estimated monthly costs are 3,371.9€ without rent.
A single person estimated monthly costs are 964.4€ without rent.
Cost of living in Ireland is, on average, 7.4% lower than in United States.
Rent in Ireland is, on average, 11.4% lower than in United States.
Ref: Numbeo
This does seem a bit high but not a million miles of the mark thinking of our own monthly spend which is about €4000 including mortgage payments. The means we both need to be taking in 2K after taxes just to break even never mind save for the future with a wedding coming up and trying to buy a larger house.
The wages here are good but haven't risen that much in the past ten years while everything around us has shot up.
Without Hive i would be really struggling but crypto has added another revenue source that gives me some spending money on top of my wages.
That's why I'm looking to add a few more revenue sources this year and have started looking at other way to earn money online but there isn't much out there that doesn't require a significant investment of money/time and effort for minimal returns.
Looking at the top search options:
- Affiliate marketing
- Create a course
- Sell digital products
- Create a youtube channel
- Dropshipping
- Create a blog
- E-commerce
The options aren't great. I was thinking to try and create a stand alone blog and see if i can generate ad revenue by adding to it over time but if LEO ever launch their ad revenue program it would be a waste of time since i can just put more time into my content here which is already established.
Affiliate marketing is one that I'm going to do some research on and see if i can integrate it with the content that I am already creating.
And the final option is to try and write a couple of books over time to publish online and see if i can generate some long term passive revenue but that is one for the future.
If i could predict the future then it's easy to say that it would be enough just to keep stacking Hive every day and reach enough stake to retire off the daily returns in ten years but nothing is guaranteed.
This is a crazy industry that changes every week. I think that Hive will be a success story but non of us really know. That's why I will try to add a few non crypto income streams this year and have some options.