Dammit! I’ve almost done it again.
Apologies for missing last Sunday’s weigh in update. I was so consumed by this new extra stress I knew I shouldn’t have burdened myself with. But let me tell you a silly story which started it all…
If you are living in England, you might have heard that we have been under this lockdown measure since boxing day last year. If you haven’t heard about it, well… now you have. One of the Covid sacrificial lamb is obviously the hospitality industry. Along with the high street retail, we’ve suffered the most setback…
I’ve been in furlough since then. As much as it sounds great receiving money while staying at home, my personal finance actually took a hit. If you are not familiar with furlough system in England… I receive 80% my normal average salary. Problem is… coming from the hospitality industry, a lot of my income was also from TRONC (tips).
There you go. The insider information you never asked.
Anyway, with no customer, obviously no TRONC. Normally we enjoy TRONC the most with our end of year salary because Christmas makes people more merrily generous. However, the lost of TRONC is not covered with furlough. So for a lot of hospitality workers, we are not losing 20% of our income… it’s slightly more. Some waiting staff from a very busy restaurant might have lost almost half of their income.
This is stressful for me. Not that our family can’t afford to lose it. My husband already told me that I can contribute less on our joint income if I found it too much with my reduced income. He is still working, so he reckoned he would be able to cover for both of us.
But that’s not it. Financial freedom is probably the only freedom these days when you see restrictions everywhere. Money and how I am spending it is probably the only control I have when a lot of things seem to be out of control nowadays. Paying the NORMAL amount to our household joint account… is probably the only thing I could retain to keep some sort of normality.
So, I’ve been looking for ways to replace that loss. At least to top up my basic income. Internet is everyone’s best friend when they’re looking for ideas, right? I got stranded in a weird wonderland called reddit.
Some of you might have seen where this is going. Some of you might be redditors. If you are not, and if you haven’t been able to guess it yet, I will continue with the story.
Reddit is basically a massive forum for internet users. If you’ve been to WordPress support forum, or Myfitnesspal forum, you can imagine what a forum is like. For reddit, it is larger… much larger, and it covers an enormous amount of categories. They call the categories: subreddit.
Yes of course there’s a subreddit for weight loss, health, and fitness too. But that’s not why I had this extra stress last week. It was a subreddit called Wallstreetbets.
I can hear from where I am sitting, some of you have slapped your forehead with mighty despair. Yes I’ve done that Gamestop thing.
Now please let me explain what it was.
Wallstreetbets is a place where a lot of people BETS on stocks and shares. Most of them do it with caution, with some due diligence, and when they’re right they turn into millionaire overnight. I was not trying to be a millionaire. I just want to top up that 20% loss, okay…
Two weeks ago, one of the sub member posted something about the possibility of this particular stock to boom. That stock is Gamestop. I was as flabbergasted as many of you, because… I mean… no disrespect to Gamestop but. Jesus Flicking Christ… However if you have heard about what’s going on with the stock market lately, you probably have heard about this too.
But this is a bet. A well calculated bet, I should say. My dad who is one of the wisest person I have known in the whole wide world has told me that you only gamble the money you are willing to lose. So that’s exactly what I did. I calculated if… if the stock went up at least 50%, that would cover it probably cover the lost TRONC as well as a bonus.
So I held it for a week and a bit more. Yes the stock went up at least 50% since I bought it, and cashed it in time although held it longer than my mental wellbeing could handle.
This is what I learned from holding GME for over a week. The stress of looking at the chart is more than the stress of losing my disposable income for a month. I don’t have the proverbial balls of steel which I can grab whenever I got the anxiety attack whenever the number is going down. The only number I would like to see going down is the number on the bathroom scale thank you very much.
Holding a massively volatile stock means I was losing sleep. I could not sit here, typing this, because every time I look at the computer screen, I could not get my brain to settle down to write this blog. So I sold them all. I know they said that it would still going to go somewhere big, and probably I am losing out a year salary worth of opportunity there…
But anyway…. I made a meagre profit. That’s enough. That’s traumatic enough.
Here I am. Recuperating from the adrenaline high. Learning my lesson. Fixing my sleeping pattern. Going easy on my rosé consumption…
And nice to see you wonderful people again…
Lots of Love