What the Holidays Reveal About Our Broken Relationship with Money – And How Cryptocurrencies Can Fix It

What the Holidays Reveal About Our Broken Relationship with Money – And How Cryptocurrencies Can Fix It

Find out why the short-term spending mentality is a product of modern banking and how a long-term, cryptocurrency-minded approach can solve it.

Here are some worrying statistics for Black Friday 2025:

“A total of 95% ($11.2 billion) of Black Friday shopping was funded.

And 67% ($7.9 billion) was financed by debt that consumers do not expect to be able to pay within the next 30 days.”
(Shared by Adam Cochran)

https://medium.com/media/e59564c7bb76d5e053af1a436aab1bbc/href

I’m sure Klarna is delighted with the 45% growth on Black Friday, but those in the cryptocurrency industry who view the modern banking system with distrust may only see this as a symptom and signal that there is a serious problem with the way they view time and money. Something is broken.

The fiat savings spiral (short story)

I was never an investor, but I was a hardcore saver.

Just someone who worked and had a side job because he believed that those he protected would be rewarded. I wanted some interest. Maybe one day you would be able to put down a deposit on a house. Do millennials have that many questions to ask?

I didn’t understand central banks, inflation, or cryptocurrencies. Fast forward a few years and I realized it. “savings” It was quietly eaten. It was a very small amount compared to a house deposit where I live. Who would want to invest the little money they earned at the most energetic time of their lives into a home they don’t even own?

Unfortunately, I didn’t discover cryptocurrency at that moment. Instead, I did what many people do when they feel saving is pointless. I sent.

I spent money on clothes, shoes, hobbies, and a few crappy online courses. At one point, I owned nine pairs of Nike sneakers, and I collected them not because I liked them (I rarely wore them), but because I probably got an immediate dopamine hit from spending them. Most of that stuff is now gone, sold or donated.

I will be a product of a system that punishes saving and rewards spending.

They want to grow at all costs, make high-risk spending, and prefer short-term time horizons.

My spending habits until 2020 were like this…

2020 reset

Like many of you, 2020 has been an uncertain year for me…

Less freedom (blockade)
decreased control
more inflation

I fell down the rabbit hole, discovered cryptocurrency Twitter, and made Bitcoin 60% of my personality (sorry, family).

Slowly, my short-term spending mentality began to turn around…

• Get rid of things you don’t need.
• Start pricing in cryptocurrencies.
• Started saving in hard currency again.

It wasn’t about chasing the pump or getting rich quick (why?). It was about taking back control and owning something that (in my opinion) would resist the slow overtures of inflation.

And this reminds me again of how we think about spending and saving during the holidays…

Rethink what is valuable to you.

As I write this, the holiday season is almost over.

Let’s be honest, most of what’s in your inbox and holiday shopping cart now will be forgotten by January.

We’re also working on a few suggestions, but we wanted to slow down and say what we think is more important.

There is no need to rush to make additional purchases this season. It might actually be getting something important done.

Like your security. your future. peace of mind.

A new jacket or sneakers might be nice, but your cryptocurrency setup might still require some caution…

Maybe your backups are still only on paper.
Maybe you were looking to buy a second backup device.
Or maybe you need to refresh your recovery plan or get help exploring Trezor’s advanced features.

We’ve seen people lose access after preventable incidents. Having a more powerful setup now can save you even more money later.

Not enough people are talking about the quiet panic caused by being in a bull market and not tightening security. If you are not confident in your settings, you are more likely to make mistakes.

regain peace of mind

I still think about those ugly Nike sneakers and the Bitcoin I could have had instead. It’s a reminder that the dopamine rush of short-term consumption rarely buys long-term satisfaction.

If you’re in the same boat, this holiday season is a great time to slow down. Rethink your gifts and protect what you already own.

If you need help, we have a holiday sale where you can protect your cryptocurrency for less → Up to 30% off Trezor hardware wallet + free worldwide shipping (code: HOLIDAY25). No pressure. Remind yourself that protecting what’s important is the best gift you can give yourself.

https://medium.com/media/cae2bb21a99a327014f1f15514794182/href

— Henry WindleSenior Content Marketer at Trezor

What the Holidays Reveal About Our Broken Relationship with Money — And How Cryptocurrencies Can Fix It was originally published on Medium’s Trezor blog, where people are highlighting this story and responding to it to continue the conversation.