The 3 C's
Crypto, Cash, and Cinnamon Rolls
Good morning everyone! Welcome back to another Inspiration Friday! I hope everyone’s week has been great so far; let’s finish strong. Today I have 4 articles: a couple of crypto ones, a sweet treat, and a general money one that makes you think a little. Let’s jump on in!
Cardano’s First Ever Sidechain Project Will Bring Ethereum Smart Contracts to Cardano
This is a cool article about a new crypto project called Milkomeda. I’ve talked about Cardano a bit before and how they have this smart contract upgrade coming in less than 2 weeks! Well, this new project is a side chain of Cardano.
Think of Cardano as a tool and this new project, Milkomeda, is using the Cardano tool in a neat way.
They are creating the ability to bridge Ethereum smart contracts to Cardano. This will be huge when Cardano has their own smart contracts, making it less of a competition between Ethereum and Cardano. You can create an NFT or other smart contract on either one. It might also make it easier for people to switch from Ethereum to Cardano, so maybe that’s not great news for Ethereum actually. We’ll see what happens.
How does the infrastructure bill affect the mining industry in the US?
https://cointelegraph.com/news/how-does-the-infrastructure-bill-affect-the-mining-industry-in-the-us
I’ve talked about the infrastructure bill’s effects on crypto in a past article, but I thought this one did an even better job of describing it. They give a well-detailed breakdown of what a miner is and why it is fundamentally impossible for a miner to be considered a broker.
Essentially, miners do not have access to the required information that the IRS needs from a broker. The Senate has completely failed to understand this new technology and did not take the time to research it fully. It’s honestly kind of embarrassing. Other countries will definitely be laughing at us, but I guess that’s fine. Americans are resilient and adaptable and they’ll find a way to innovate regardless.
The Best Store-Bought Cinnamon Rolls, From Trader Joe’s to Pillsbury
Alright, the sweet treat! The best store-bought cinnamon rolls! Tay and I love cinnamon rolls and we strive to one day have the best homemade cinnamon roll recipe. If we could make them better than Cinnabon then I think we would win in life. Last Christmas season I think we gained 10 pounds on Cinnabon alone.
I was actually surprised to this article’s number 1 pick was just the original Pillsbury grand with Cinnabon icing. I guess as avid cinnamon roll lovers we should be honored that the number 1 pick is our go-to, but I was also hoping for a new one to try.
That being said the number 2 pick, Cinnabon Frosting-filled Cinnapastry’s looks amazing! We are excited to try those soon.
Everyone Thinks These 2 Financial Tips Will Make Them Rich, But They Won’t
https://link.medium.com/JssLSxugejb
Last but not least, we have a very interesting article breaking apart some financial tips that might not be super helpful. The two “myths” he breaks down are penny-pinching (or saving in any way possible) and cooking homecooked meals.
I think he makes some really good arguments against these tips. I put “myths” in quotes because these tips are not inherently bad. I think you can absolutely save money doing both of these things as Tay and I do every week. It saves a ton for me to make coffee every day instead of going out for coffee at Caribou every day. It saves money to buy our little mug brownie mix for desserts instead of buying an Insomnia cookie every day. It also saves money to cook instead of eating out every day at Chickfila (though it’s tempting just to eat Chickfila).
I think what Tom is saying is that we should evaluate how much time we spend trying to save money. If you drive to 5 stores with a bunch of coupons just to save $5, was that really worth your time?
The great example he uses is if you can make $X amount of money per hour working on a side-project, it might be worth it to work on your project a little longer and order takeout instead of planning a meal, cooking it, and cleaning up.
I don’t know if we’ll change any of our habits, but it was a really good thing to keep in mind. I am a big believer in saving time. Time is the most valuable resource we have; it’s the only one we can’t earn more of.
Well! That’s it for this week! Hope you enjoyed it and I’ll catch y’all next week!
1. I’ll send you and Taylor my cinnamon roll recipe. 2. As a financial planner, I can confirm that meal planning and weekly prep will save you both time AND money. 3. Penny pinching is nothing more than keeping an eye on discretionary spending. My best clients earn more than $500k a year and buy previously owned cars and take their lunch to work…it’s all about choice. Kids college funds top $200k each. And they are 11 and 13. You can only spend a dollar one time. Great article.