Crypto v Chip – only one winner for James

Snoop is playing an important ongoing role in fiscal responsibility at the Fish household!

Having up-to-date balances on all my accounts in one place, expected bill spending and weekly summaries helps with planning and curbing excesses.

An additional Amex card for my wife caused confusion.

When I mentioned some weird spending I didn’t recognise we discussed whether getting blow-by-blow updates on her flat white purchases was crossing a marital red line.

We agreed it probably was a little, but if it helps make life a little easier then why not.

The financial equivalent of the app that locate lost phones and where you can watch the other moving across a map when they are running late. 

(A well demonstrated example of the Privacy Paradox if you’re interested)

Anyway - this month some friends told me about their Cryptocurrency's four-fold increase in value in the last year.

This seemed too good to be true. And after some research including the informative Snoop summary I think it probably is, in the long term at least.

I followed the prices for a week and most crypto prices had plummeted over 15%. And then largely recovered. And then plummeted again.

It felt like the rollercoaster ride my friends had described, and I had no money at risk. 

The aforementioned friends have a lot of money saved and invested in their current property so could reasonably afford to lose what they have put into crypto. I couldn't. 

Meanwhile the edge of the seat, minute by minute volatility of crypto poses a risk that is ultimately too high for my family. 

I’ll leave the few hundred I’ve saved in the Chip account Snoop recommended at a reliable, if boring, 1.25% interest.

Another useful find was the Too Good To Go app. Heavily discounted takeaway food from lots of great restaurants that would be thrown out at the end of the day.

Good for the environment and the stomach. Win-Win.