Balancing Financial security and Bitcoin Accumulation

[laijsica]

You know what you must know is that people don't usually know when to invest, how to invest and when not to invest. Usually, investment is when you are financially stable to make it reality but most people nowadays jump into investments without at least having source of income or something that would give them income when they are in need or lacking moment.
It's true that everyone out there loves investments but getting to know the rules of investment is what most people are lacking, that is why many people faces hard time with their investments or ends up pulling off their investments when their time isn't yet to come.

It is better to invest by making a good plan before investing. Because if you rush into investing without planning, you can put your holdings at risk. For example, if you do not have proper financial management, you can fall into a financial crisis and after a while you may have to sell your holdings. If you make a proper plan, if you go in that way, you will get benefits in many ways. For example, if you go in a plan that measures how much money you need and how much money you have allocated for your investment, then the chances of you falling into a financial crisis will be greatly reduced, unless you fall into an unexpected financial disaster. So always plan wisely and keep your holdings safe.

Those who doesn't make a good plans usually ends up in a rush to sell of their investment so easily and cheaply especially when they don't understand how the market works properly, there is a need to have source of income to secure their invest but also we have to reconsider something very important before jumping into investment, most people do not understand how the cryptocurrency market works, especially since it's seasonal, they must know which season is suitable for their investing and which is not suitable for their investing before they should venture into it to make their investments.

If you consider the season when it comes to Bitcoin accumulation it will not be the right decision. It should be important for you to have a discretionary income stream or you should make every effort to strengthen your alternative sources of income. In reality, most countries' economies are negatively affected by inflation and the government controls the country's financial system, which is linked to the global economy. The culture of not welcoming new financial systems to increase the value of the dollar is a strategy for rich countries that makes them richer and poorer countries more poorer. Even if an individual investor cannot play a significant role in the large scale economic progress of the country, he should develop alternative decentralise financial systems for his own financial development. Long term Bitcoin accumulation exposes you to a different and potential financial system.

[JayJuanGee]

You know what you must know is that people don't usually know when to invest, how to invest and when not to invest. Usually, investment is when you are financially stable to make it reality but most people nowadays jump into investments without at least having source of income or something that would give them income when they are in need or lacking moment.
It's true that everyone out there loves investments but getting to know the rules of investment is what most people are lacking, that is why many people faces hard time with their investments or ends up pulling off their investments when their time isn't yet to come.

It is better to invest by making a good plan before investing. Because if you rush into investing without planning, you can put your holdings at risk. For example, if you do not have proper financial management, you can fall into a financial crisis and after a while you may have to sell your holdings. If you make a proper plan, if you go in that way, you will get benefits in many ways. For example, if you go in a plan that measures how much money you need and how much money you have allocated for your investment, then the chances of you falling into a financial crisis will be greatly reduced, unless you fall into an unexpected financial disaster. So always plan wisely and keep your holdings safe.

I think with bitcoin, one of the best things is to get started as soon as possible.  You can work out the details as you go.

Don't get me wrong, there are a lot of good things that come from planning, but you can still get started buying bitcoin and plan at the same time.

[Gost ms]

Well, basically this is very important that having an emergency fund is very important for a Invest. When you invest in Bitcoin at a fixed price and then if the market falls, you can use that emergency fund for any necessary purpose. It is important to collect an emergency fund before buying Bitcoin, it will always be a good plan for yourself and it can benefit the investor in any bad time. I think such a plan would be a good step for real investors where they invest according to a percentage, save some percentage and leave some for an emergency fund. Many times this emergency fund is very useful to deal with emergencies, every person should have such an emergency fund plan that will always benefit them.

It is never a good idea to use an emergency fund after a market crash. What you mean is that an emergency fund is for you to buy aggressively when the market crashes, but this is a complete misconception. Because an emergency fund is there to protect your investments. For example, in the event of an unexpected financial disaster, you do not have to sell your holdings, so that you can take money from your emergency fund to deal with the financial disaster. Or if someone gets sick and you have no other money except the emergency fund for treatment. Then you can take money from the emergency fund at that time. It is not right to rely on the emergency fund all the time. When you do not have any money except the emergency fund, you can take money from the emergency fund.

[Olatundespo]

Well, basically this is very important that having an emergency fund is very important for a Invest. When you invest in Bitcoin at a fixed price and then if the market falls, you can use that emergency fund for any necessary purpose. It is important to collect an emergency fund before buying Bitcoin, it will always be a good plan for yourself and it can benefit the investor in any bad time. I think such a plan would be a good step for real investors where they invest according to a percentage, save some percentage and leave some for an emergency fund. Many times this emergency fund is very useful to deal with emergencies, every person should have such an emergency fund plan that will always benefit them.

It is never a good idea to use an emergency fund after a market crash. What you mean is that an emergency fund is for you to buy aggressively when the market crashes, but this is a complete misconception. Because an emergency fund is there to protect your investments. For example, in the event of an unexpected financial disaster, you do not have to sell your holdings, so that you can take money from your emergency fund to deal with the financial disaster. Or if someone gets sick and you have no other money except the emergency fund for treatment. Then you can take money from the emergency fund at that time. It is not right to rely on the emergency fund all the time. When you do not have any money except the emergency fund, you can take money from the emergency fund.

It depends on the size of your emergency fund. If you have a sufficient emergency fund, say oneyear or more, you can increase your holdings by aggressively buying during a market dumping. I am not completely dismissing the idea of ​​@out of mind. An important element of making an emergency fund a long-term investment is that the longer you hold it, the safer your Bitcoin holdings will be in the long term.

To put it more clearly, let's say if you have one-year emergency fund and have no source of income or in that case if you lose your job. Or someone in your family needs medical treatment, you can use that fund without withdrawing the Bitcoin holdings.

Now the question may be how much of your emergency fund you have to spend on emergencies. This depends on how much your medical expenses will be if you get a job again.

Continuing aggressive buying from your excess emergency fund may be the right decision, depending on how much floating cash you have.

[I_Anime]

Well, basically this is very important that having an emergency fund is very important for a Invest. When you invest in Bitcoin at a fixed price and then if the market falls, you can use that emergency fund for any necessary purpose. It is important to collect an emergency fund before buying Bitcoin, it will always be a good plan for yourself and it can benefit the investor in any bad time. I think such a plan would be a good step for real investors where they invest according to a percentage, save some percentage and leave some for an emergency fund. Many times this emergency fund is very useful to deal with emergencies, every person should have such an emergency fund plan that will always benefit them.

First you don’t use your emergency fund to accumulate when there’s dip in the market , that’s the reason you have reserve funds , it usually meant for such role not your emergency funds ( is for handling expected and unexpected expenses).

Tbh I don’t fully I understand your point though, in the other sense it sound like you rely on your bitcoin to handle your expenses , then when there’s dip in the market you won’t be able to withdraw, then you will have to rely on your emergency funds. If is such information you are trying to pass I will just advice to reduce such act because you will only delay the growth of your bitcoin.

[Silikiem]

You know what you must know is that people don't usually know when to invest, how to invest and when not to invest. Usually, investment is when you are financially stable to make it reality but most people nowadays jump into investments without at least having source of income or something that would give them income when they are in need or lacking moment.
It's true that everyone out there loves investments but getting to know the rules of investment is what most people are lacking, that is why many people faces hard time with their investments or ends up pulling off their investments when their time isn't yet to come.

It is better to invest by making a good plan before investing. Because if you rush into investing without planning, you can put your holdings at risk. For example, if you do not have proper financial management, you can fall into a financial crisis and after a while you may have to sell your holdings. If you make a proper plan, if you go in that way, you will get benefits in many ways. For example, if you go in a plan that measures how much money you need and how much money you have allocated for your investment, then the chances of you falling into a financial crisis will be greatly reduced, unless you fall into an unexpected financial disaster. So always plan wisely and keep your holdings safe.

I think with bitcoin, one of the best things is to get started as soon as possible.  You can work out the details as you go.

Don't get me wrong, there are a lot of good things that come from planning, but you can still get started buying bitcoin and plan at the same time.

This is true and I quite agree with you because from my experience in bitcoin investment I have learnt that you don’t need too much planning to get started in the sense that once your desirous to venture into bitcoin investment, the only thing you need is just your discretionary income to start with, you are not required to hire or rent a shop, neither are you required to start planning to hire some staffs or workers to work with you or better still train them for the investment you’re about to start. Here, it’s just you and your basic knowledge of bitcoin, provided your discretionary income is available then you’re good to go. And if the only reason that you’re taking so much time to start because you are planning and being careful not to make mistakes or run a lost in the long run, then you’re wrong, because you can never know it all as far as bitcoin investment is concerned. It’s highly volatile and sometimes you can’t predict what will happen next. So the best thing to do is to just get started and along the line  as you continue with your accumulations you’ll be able to learn and experience new things which will help you to be making wise decisions as your investment journey continues in the future.

[Joy- maker]

I think with bitcoin, one of the best things is to get started as soon as possible.  You can work out the details as you go.

Don't get me wrong, there are a lot of good things that come from planning, but you can still get started buying bitcoin and plan at the same time.

When it comes to bitcoin I don't think we need to put everything in place before we can get started with bitcoin, because waiting to put everything in place less emergency fund, back funds and so on may delay your bitcoin investment journey. Remember what you need to invest in bitcoin is your discretionary income, If only you can map out your discretionary income from your main source of income after you must have settled your basic needs and expenses then you are good to go with bitcoin, and still plan ahead instead of waiting to plan first before you can get started with bitcoin. Remember bitcoin price wait for nobody the more you keep waiting the more bitcoin price keep increasing, so get started, because getting started with bitcoin is very important before any other plans.

[icebar]

You know what you must know is that people don't usually know when to invest, how to invest and when not to invest. Usually, investment is when you are financially stable to make it reality but most people nowadays jump into investments without at least having source of income or something that would give them income when they are in need or lacking moment.
It's true that everyone out there loves investments but getting to know the rules of investment is what most people are lacking, that is why many people faces hard time with their investments or ends up pulling off their investments when their time isn't yet to come.

It is better to invest by making a good plan before investing. Because if you rush into investing without planning, you can put your holdings at risk. For example, if you do not have proper financial management, you can fall into a financial crisis and after a while you may have to sell your holdings. If you make a proper plan, if you go in that way, you will get benefits in many ways. For example, if you go in a plan that measures how much money you need and how much money you have allocated for your investment, then the chances of you falling into a financial crisis will be greatly reduced, unless you fall into an unexpected financial disaster. So always plan wisely and keep your holdings safe.

I think with bitcoin, one of the best things is to get started as soon as possible.  You can work out the details as you go.

Don't get me wrong, there are a lot of good things that come from planning, but you can still get started buying bitcoin and plan at the same time.

Yes, after starting to buy Bitcoin with little knowledge, if the rest of the things are learned slowly, that learning can be very effective. By this, bitcoin stash will increase, on the other more knowledge about Bitcoin will continue to increase. If we want to learn about Bitcoin without start accumulating, we will not be able to learn much because at some point we will not find any goal. Planning can take us to a better position, but we have to start. When someone starts Bitcoin and works on the plan, those plans will also improve. If we have discretionary income, we can start buying Bitcoin with that money and learn about other things step by step, thereby increasing our accumulation. As our Bitcoin stash increases, our knowledge will also increase.

[Jostern]

You know what you must know is that people don't usually know when to invest, how to invest and when not to invest. Usually, investment is when you are financially stable to make it reality but most people nowadays jump into investments without at least having source of income or something that would give them income when they are in need or lacking moment.
It's true that everyone out there loves investments but getting to know the rules of investment is what most people are lacking, that is why many people faces hard time with their investments or ends up pulling off their investments when their time isn't yet to come.

It is better to invest by making a good plan before investing. Because if you rush into investing without planning, you can put your holdings at risk. For example, if you do not have proper financial management, you can fall into a financial crisis and after a while you may have to sell your holdings. If you make a proper plan, if you go in that way, you will get benefits in many ways. For example, if you go in a plan that measures how much money you need and how much money you have allocated for your investment, then the chances of you falling into a financial crisis will be greatly reduced, unless you fall into an unexpected financial disaster. So always plan wisely and keep your holdings safe.

I think with bitcoin, one of the best things is to get started as soon as possible.  You can work out the details as you go.

Don't get me wrong, there are a lot of good things that come from planning, but you can still get started buying bitcoin and plan at the same time.

You’re absolutely right, it makes more sense to get started instead of waiting to get everything in place, especially trying to plan to get everything set up that would be wasting of time and might just end of missing opportunities by planning, a true investor wouldn’t be waiting to get everything set up instead you can start investing and accumulating as long as we have a discretionary income, and then be planning at the same time which is all achievable.

[JayJuanGee]

Well, basically this is very important that having an emergency fund is very important for a Invest. When you invest in Bitcoin at a fixed price and then if the market falls, you can use that emergency fund for any necessary purpose. It is important to collect an emergency fund before buying Bitcoin, it will always be a good plan for yourself and it can benefit the investor in any bad time. I think such a plan would be a good step for real investors where they invest according to a percentage, save some percentage and leave some for an emergency fund. Many times this emergency fund is very useful to deal with emergencies, every person should have such an emergency fund plan that will always benefit them.

It is never a good idea to use an emergency fund after a market crash. What you mean is that an emergency fund is for you to buy aggressively when the market crashes, but this is a complete misconception. Because an emergency fund is there to protect your investments. For example, in the event of an unexpected financial disaster, you do not have to sell your holdings, so that you can take money from your emergency fund to deal with the financial disaster. Or if someone gets sick and you have no other money except the emergency fund for treatment. Then you can take money from the emergency fund at that time. It is not right to rely on the emergency fund all the time. When you do not have any money except the emergency fund, you can take money from the emergency fund.

It depends on the size of your emergency fund. If you have a sufficient emergency fund, say oneyear or more, you can increase your holdings by aggressively buying during a market dumping.[/b] I am not completely dismissing the idea of ​​@out of mind. An important element of making an emergency fund a long-term investment is that the longer you hold it, the safer your Bitcoin holdings will be in the long term.

To put it more clearly, let's say if you have one-year emergency fund and have no source of income or in that case if you lose your job. Or someone in your family needs medical treatment, you can use that fund without withdrawing the Bitcoin holdings.

Now the question may be how much of your emergency fund you have to spend on emergencies. This depends on how much your medical expenses will be if you get a job again.

Continuing aggressive buying from your excess emergency fund may be the right decision, depending on how much floating cash you have.

Usually guys are not going to be saving up 1 years worth of expenses in emergency funds.. that is not a good use of money... that is why we usually will suggest 3 months of emergency funds and then any excess would be in reserve funds and so reserve funds have more flexibility since they can be used for emergency and they can be used for various other purposes.. if you are getting down to ONLY having 3 months remaining in your back up funds, that is likely at an emergency level to be at such a status, especially if you might be wanting to protect any investment that you have, such as bitcoin.

In the end you can call these various kinds of back up funds whatever you like, yet part of the reason to categorize them in terms of emergency funds, reserve funds and float is in order to help to guys to conceptualize the difference. .and perhaps how much of a cushion to have also depends on the anticipated income and expenses that a guy has.  If a guy has a very erratic income and/or very erratic expenses then he likely has to hold more back up funds, and those likely would not be emergency funds since he already knows that he has erratic income/expenses, so he has to keep extra money on hand just to deal with his income/expenses that he already knows to be erratic... but yeah, he can call them anything that he likes, but it seems that if he already knows about his own erratic income/expenses has to prepare in advance otherwise he is putting himself into emergency situations for situations that are not actual emergencies, and he is nearly creating his own emergencies by his lack of proper preparedness, so guys surely should want to be in a balanced situation where they aren't having emergencies... but they also likely don't need to have 1 year's worth of cash on hand, either.. .that seems excessive.

[ejikeme24]

You know what you must know is that people don't usually know when to invest, how to invest and when not to invest. Usually, investment is when you are financially stable to make it reality but most people nowadays jump into investments without at least having source of income or something that would give them income when they are in need or lacking moment.
It's true that everyone out there loves investments but getting to know the rules of investment is what most people are lacking, that is why many people faces hard time with their investments or ends up pulling off their investments when their time isn't yet to come.

It is better to invest by making a good plan before investing. Because if you rush into investing without planning, you can put your holdings at risk. For example, if you do not have proper financial management, you can fall into a financial crisis and after a while you may have to sell your holdings. If you make a proper plan, if you go in that way, you will get benefits in many ways. For example, if you go in a plan that measures how much money you need and how much money you have allocated for your investment, then the chances of you falling into a financial crisis will be greatly reduced, unless you fall into an unexpected financial disaster. So always plan wisely and keep your holdings safe.

I think with bitcoin, one of the best things is to get started as soon as possible.  You can work out the details as you go.

Don't get me wrong, there are a lot of good things that come from planning, but you can still get started buying bitcoin and plan at the same time.

You’re absolutely right, it makes more sense to get started instead of waiting to get everything in place, especially trying to plan to get everything set up that would be wasting of time and might just end of missing opportunities by planning, a true investor wouldn’t be waiting to get everything set up instead you can start investing and accumulating as long as we have a discretionary income, and then be planning at the same time which is all achievable.

If you said a true Investor wouldn't be waiting to get everything set up, then those who are planning to get everything set up before getting started is called what? If we are talking about true investors here I would say that those guys that choose to get thier plans set up  before getting started is supposed to be considered as true investors because they know that bitcoin investment need alot of attentions which is why they will prefer having all their budget figured out to enable thier accumulating journey to move smoothly. so for me I will pefer to have most of my budgets figured out so as to ease some stress/ distraction. Because getting started when you have not yet set up any of your plans can bring alot of stress/distraction.

[kanftka]

Well, basically this is very important that having an emergency fund is very important for a Invest. When you invest in Bitcoin at a fixed price and then if the market falls, you can use that emergency fund for any necessary purpose. It is important to collect an emergency fund before buying Bitcoin, it will always be a good plan for yourself and it can benefit the investor in any bad time. I think such a plan would be a good step for real investors where they invest according to a percentage, save some percentage and leave some for an emergency fund. Many times this emergency fund is very useful to deal with emergencies, every person should have such an emergency fund plan that will always benefit them.

It is never a good idea to use an emergency fund after a market crash. What you mean is that an emergency fund is for you to buy aggressively when the market crashes, but this is a complete misconception. Because an emergency fund is there to protect your investments. For example, in the event of an unexpected financial disaster, you do not have to sell your holdings, so that you can take money from your emergency fund to deal with the financial disaster. Or if someone gets sick and you have no other money except the emergency fund for treatment. Then you can take money from the emergency fund at that time. It is not right to rely on the emergency fund all the time. When you do not have any money except the emergency fund, you can take money from the emergency fund.

It depends on the size of your emergency fund. If you have a sufficient emergency fund, say oneyear or more, you can increase your holdings by aggressively buying during a market dumping.[/b] I am not completely dismissing the idea of ​​@out of mind. An important element of making an emergency fund a long-term investment is that the longer you hold it, the safer your Bitcoin holdings will be in the long term.

To put it more clearly, let's say if you have one-year emergency fund and have no source of income or in that case if you lose your job. Or someone in your family needs medical treatment, you can use that fund without withdrawing the Bitcoin holdings.

Now the question may be how much of your emergency fund you have to spend on emergencies. This depends on how much your medical expenses will be if you get a job again.

Continuing aggressive buying from your excess emergency fund may be the right decision, depending on how much floating cash you have.

Usually guys are not going to be saving up 1 years worth of expenses in emergency funds.. that is not a good use of money... that is why we usually will suggest 3 months of emergency funds and then any excess would be in reserve funds and so reserve funds have more flexibility since they can be used for emergency and they can be used for various other purposes.. if you are getting down to ONLY having 3 months remaining in your back up funds, that is likely at an emergency level to be at such a status, especially if you might be wanting to protect any investment that you have, such as bitcoin.

In the end you can call these various kinds of back up funds whatever you like, yet part of the reason to categorize them in terms of emergency funds, reserve funds and float is in order to help to guys to conceptualize the difference. .and perhaps how much of a cushion to have also depends on the anticipated income and expenses that a guy has.  If a guy has a very erratic income and/or very erratic expenses then he likely has to hold more back up funds, and those likely would not be emergency funds since he already knows that he has erratic income/expenses, so he has to keep extra money on hand just to deal with his income/expenses that he already knows to be erratic... but yeah, he can call them anything that he likes, but it seems that if he already knows about his own erratic income/expenses has to prepare in advance otherwise he is putting himself into emergency situations for situations that are not actual emergencies, and he is nearly creating his own emergencies by his lack of proper preparedness, so guys surely should want to be in a balanced situation where they aren't having emergencies... but they also likely don't need to have 1 year's worth of cash on hand, either.. .that seems excessive.

Yeah, you actually broke it down really well. I like how you separated emergency funds from reserve funds and float, that alone makes it easier to think straight about money instead of just saving blindly.

And honestly, you are right, saving up a full year of expenses in cash sounds good in theory but doesn’t really make sense for most people. That is just money sitting there doing nothing, especially in this time.

The part that really hit me was what you said about guys with unstable income or spending habits, like yeah, that is not even an emergency anymore, that is just your reality. So you gotta plan for it ahead of time or will basically creating your own problems.

This kind of thinking is what more people need. Simple, practical, and balanced not fear based. Just being real with your situation and planning smart.

[Silikiem]

You know what you must know is that people don't usually know when to invest, how to invest and when not to invest. Usually, investment is when you are financially stable to make it reality but most people nowadays jump into investments without at least having source of income or something that would give them income when they are in need or lacking moment.
It's true that everyone out there loves investments but getting to know the rules of investment is what most people are lacking, that is why many people faces hard time with their investments or ends up pulling off their investments when their time isn't yet to come.

It is better to invest by making a good plan before investing. Because if you rush into investing without planning, you can put your holdings at risk. For example, if you do not have proper financial management, you can fall into a financial crisis and after a while you may have to sell your holdings. If you make a proper plan, if you go in that way, you will get benefits in many ways. For example, if you go in a plan that measures how much money you need and how much money you have allocated for your investment, then the chances of you falling into a financial crisis will be greatly reduced, unless you fall into an unexpected financial disaster. So always plan wisely and keep your holdings safe.

I think with bitcoin, one of the best things is to get started as soon as possible.  You can work out the details as you go.

Don't get me wrong, there are a lot of good things that come from planning, but you can still get started buying bitcoin and plan at the same time.

You’re absolutely right, it makes more sense to get started instead of waiting to get everything in place, especially trying to plan to get everything set up that would be wasting of time and might just end of missing opportunities by planning, a true investor wouldn’t be waiting to get everything set up instead you can start investing and accumulating as long as we have a discretionary income, and then be planning at the same time which is all achievable.

If you said a true Investor wouldn't be waiting to get everything set up, then those who are planning to get everything set up before getting started is called what? If we are talking about true investors here I would say that those guys that choose to get thier plans set up  before getting started is supposed to be considered as true investors because they know that bitcoin investment need alot of attentions which is why they will prefer having all their budget figured out to enable thier accumulating journey to move smoothly. so for me I will pefer to have most of my budgets figured out so as to ease some stress/ distraction. Because getting started when you have not yet set up any of your plans can bring alot of stress/distraction.

Those who waits to have everything set up before getting started are probably lazy and unserious investors, and i don’t even know what they are setting up before getting started in bitcoin investment other than just figuring out their discretionary income. Those who waits to get everything set up are only procrastinating and procrastination is just a thief of time in the sense that during the period you’re trying to set everything up which I don’t know what you’re setting up anyway, that time you would have used it to accumulate enough bitcoins no matter how little amount you start with and gradually you’re already building up your portfolio. A truly serious investor doesn’t wait to get everything set up for him or her before getting started, rather once he’s figured out his discretionary income, he will start immediately without procrastinating or wasting time. The only budgeting needed here is just to figure out your discretionary income once you’re desirous to venture into bitcoin investment, and get started immediately instead of waiting to set up everything, it’s better to get started first and along the line you can be able to figure out every other thing possible such as building up your emergency funds while you’re accumulating bitcoin.

[JayJuanGee]

[edited out]

Yeah, you actually broke it down really well. I like how you separated emergency funds from reserve funds and float, that alone makes it easier to think straight about money instead of just saving blindly.

One way to stay poor is to have a bunch of cash sitting around, especially when it starts getting to be 6 months or more of your expenses.. It starts to add up to being a lot of money, and it might even start to lose value faster than you can add to it..  So the larger it is, then the more of a stockpile that a person has that is losing value.

There is nothing wrong with having 3-6 months in cash, and even 6 months is a lot for a poor person, so it is more practical to just have 3-4 months - which be 3 months in months in emergency funds and a month or two in reserve funds.. and the reserve funds are flexible.. They can be used for anything,

Just to make clear.  I don't really consider float funds to be something that a guy stockpiles up.  Instead float funds would just be extra money that might be available from month to month when the income and/or expenses have not been resolved.. and let's say you are not sure if the utiliities are going to be $50 or $150.. so then you keep $150, and then once you know how much the utilities are, then whatever is left from the float would go into the discretionary funds and become available for spending for consumption or for investing or for putting in the reserves.

Likely the emergency funds are never touched because if they are depleted to fall below 3 months, then they should be replaced right away.

Having at least 3 months of expenses in emergency funds is especially important once the amount invested in bitcoin is 3-4 months or more of the expenses.  Surely the dollar value of the bitcoin will likely go up and down with the changes in the price, but likely there are needs to both consider how much had been put into it along with its spot price value and probably also keep track of its 200-WMA value (which is the bottom price)  These kinds of valuation can be good to help a person to focus on keeping on building his bitcoin fund and to realize that he is not going to be in a good place to be fucking around trying to trade or sell higher and buy back more.. especially when the guy is trying to accumulate and build up his bitcoin stash.  It does not really help to be selling when your goal is to accumulate more bitcoin... especially for probably at least a whole cycle and many guys might take a couple of cycles before they really start to feel like they might be able to lessen their focus on ongoing accumulation of bitcoin through persistent buying.

And honestly, you are right, saving up a full year of expenses in cash sounds good in theory but doesn’t really make sense for most people. That is just money sitting there doing nothing, especially in this time.

I think people get used to something like that, and it can contribute towards their never getting ahead since cash ongoingly loses value in its purchasing power.  Of course, for short term holdings it might not matter very much, but holding cash for years and years its purchasing power is lost, and governments seem to do that on purpose to create disincentives to save money...at least the loss of purchasing power is a known side-effect from the government's irresponsible and ongoing printing of money.

The part that really hit me was what you said about guys with unstable income or spending habits, like yeah, that is not even an emergency anymore, that is just your reality. So you gotta plan for it ahead of time or will basically creating your own problems.

Many of us likely know folks who are always having emergencies, and part of it likely has to do with their spending more than they earn, but also that they are not keeping money aside for known unknowns that are going to come up each month. So they spend too much of their income too soon, so if some kind of an "unexpected" expense comes up they are having an emergency.  Many times those kinds of drama from monthly expenses should be able to be avoidable so that "emergencies" are not happening all the time..and it can become worse if you are trying to invest into something like bitcoin that is very volatile, and so we have to be able to continue holding and even continue buying even though the value of our bitcoin is likely bouncing all over the place, but we should learn to keep on buying it and not get caught up upon thinking about its short-term fluctuations.

This kind of thinking is what more people need. Simple, practical, and balanced not fear based. Just being real with your situation and planning smart.

Sometimes we have a lot of bad habits, but we can also learn good habits, and frequently it will take quite a bit of practice and even going through extensive tests to be able to make sure that whatever systems we are putting into place and into practice are solid practices and that they are suitable to our finances and our psychology.. and it can take time to learn such balance, especially if we have a new kind of investment (namely bitcoin) that will likely challenge our perceptions of value or how to deal with not getting overly emotional about our investment, so we choose our position size in such a way that we are not going to get emotional about it or at least we learn how to have systems that help us to not get emotional about our bitcoin or any other aspects of our cashflow management systems.

[yixichloro2xx]

Well, basically this is very important that having an emergency fund is very important for a Invest. When you invest in Bitcoin at a fixed price and then if the market falls, you can use that emergency fund for any necessary purpose. It is important to collect an emergency fund before buying Bitcoin, it will always be a good plan for yourself and it can benefit the investor in any bad time. I think such a plan would be a good step for real investors where they invest according to a percentage, save some percentage and leave some for an emergency fund. Many times this emergency fund is very useful to deal with emergencies, every person should have such an emergency fund plan that will always benefit them.

It is never a good idea to use an emergency fund after a market crash. What you mean is that an emergency fund is for you to buy aggressively when the market crashes, but this is a complete misconception. Because an emergency fund is there to protect your investments. For example, in the event of an unexpected financial disaster, you do not have to sell your holdings, so that you can take money from your emergency fund to deal with the financial disaster. Or if someone gets sick and you have no other money except the emergency fund for treatment. Then you can take money from the emergency fund at that time. It is not right to rely on the emergency fund all the time. When you do not have any money except the emergency fund, you can take money from the emergency fund.

It depends on the size of your emergency fund. If you have a sufficient emergency fund, say oneyear or more, you can increase your holdings by aggressively buying during a market dumping.[/b] I am not completely dismissing the idea of ​​@out of mind. An important element of making an emergency fund a long-term investment is that the longer you hold it, the safer your Bitcoin holdings will be in the long term.

To put it more clearly, let's say if you have one-year emergency fund and have no source of income or in that case if you lose your job. Or someone in your family needs medical treatment, you can use that fund without withdrawing the Bitcoin holdings.

Now the question may be how much of your emergency fund you have to spend on emergencies. This depends on how much your medical expenses will be if you get a job again.

Continuing aggressive buying from your excess emergency fund may be the right decision, depending on how much floating cash you have.

Usually guys are not going to be saving up 1 years worth of expenses in emergency funds.. that is not a good use of money... that is why we usually will suggest 3 months of emergency funds and then any excess would be in reserve funds and so reserve funds have more flexibility since they can be used for emergency and they can be used for various other purposes.. if you are getting down to ONLY having 3 months remaining in your back up funds, that is likely at an emergency level to be at such a status, especially if you might be wanting to protect any investment that you have, such as bitcoin.

In the end you can call these various kinds of back up funds whatever you like, yet part of the reason to categorize them in terms of emergency funds, reserve funds and float is in order to help to guys to conceptualize the difference. .and perhaps how much of a cushion to have also depends on the anticipated income and expenses that a guy has.  If a guy has a very erratic income and/or very erratic expenses then he likely has to hold more back up funds, and those likely would not be emergency funds since he already knows that he has erratic income/expenses, so he has to keep extra money on hand just to deal with his income/expenses that he already knows to be erratic... but yeah, he can call them anything that he likes, but it seems that if he already knows about his own erratic income/expenses has to prepare in advance otherwise he is putting himself into emergency situations for situations that are not actual emergencies, and he is nearly creating his own emergencies by his lack of proper preparedness, so guys surely should want to be in a balanced situation where they aren't having emergencies... but they also likely don't need to have 1 year's worth of cash on hand, either.. .that seems excessive.

This has  really opened my eyes, to be honest. I have  always been hearing people say, save for emergency, but I never knew there were levels to it like emergency funds, reserve funds, and float..... As someone just starting out, because I used to think that saving a whole years worth was the only way to be safe, but now I see that it is more about balance and knowing your own situation.
‎My income is not  that really stable yet, so what you said about not creating your own emergencies by not planning ahead really makes sense..... I still have alot things to figure out, but I am  glad I came across your explanations. It really helped clear things up for me.
‎

[cxtreenal]

Well, basically this is very important that having an emergency fund is very important for a Invest. When you invest in Bitcoin at a fixed price and then if the market falls, you can use that emergency fund for any necessary purpose. It is important to collect an emergency fund before buying Bitcoin, it will always be a good plan for yourself and it can benefit the investor in any bad time. I think such a plan would be a good step for real investors where they invest according to a percentage, save some percentage and leave some for an emergency fund. Many times this emergency fund is very useful to deal with emergencies, every person should have such an emergency fund plan that will always benefit them.

It is never a good idea to use an emergency fund after a market crash. What you mean is that an emergency fund is for you to buy aggressively when the market crashes, but this is a complete misconception. Because an emergency fund is there to protect your investments. For example, in the event of an unexpected financial disaster, you do not have to sell your holdings, so that you can take money from your emergency fund to deal with the financial disaster. Or if someone gets sick and you have no other money except the emergency fund for treatment. Then you can take money from the emergency fund at that time. It is not right to rely on the emergency fund all the time. When you do not have any money except the emergency fund, you can take money from the emergency fund.

It depends on the size of your emergency fund. If you have a sufficient emergency fund, say oneyear or more, you can increase your holdings by aggressively buying during a market dumping.[/b] I am not completely dismissing the idea of ​​@out of mind. An important element of making an emergency fund a long-term investment is that the longer you hold it, the safer your Bitcoin holdings will be in the long term.

To put it more clearly, let's say if you have one-year emergency fund and have no source of income or in that case if you lose your job. Or someone in your family needs medical treatment, you can use that fund without withdrawing the Bitcoin holdings.

Now the question may be how much of your emergency fund you have to spend on emergencies. This depends on how much your medical expenses will be if you get a job again.

Continuing aggressive buying from your excess emergency fund may be the right decision, depending on how much floating cash you have.

Usually guys are not going to be saving up 1 years worth of expenses in emergency funds.. that is not a good use of money... that is why we usually will suggest 3 months of emergency funds and then any excess would be in reserve funds and so reserve funds have more flexibility since they can be used for emergency and they can be used for various other purposes.. if you are getting down to ONLY having 3 months remaining in your back up funds, that is likely at an emergency level to be at such a status, especially if you might be wanting to protect any investment that you have, such as bitcoin.

In the end you can call these various kinds of back up funds whatever you like, yet part of the reason to categorize them in terms of emergency funds, reserve funds and float is in order to help to guys to conceptualize the difference. .and perhaps how much of a cushion to have also depends on the anticipated income and expenses that a guy has.  If a guy has a very erratic income and/or very erratic expenses then he likely has to hold more back up funds, and those likely would not be emergency funds since he already knows that he has erratic income/expenses, so he has to keep extra money on hand just to deal with his income/expenses that he already knows to be erratic... but yeah, he can call them anything that he likes, but it seems that if he already knows about his own erratic income/expenses has to prepare in advance otherwise he is putting himself into emergency situations for situations that are not actual emergencies, and he is nearly creating his own emergencies by his lack of proper preparedness, so guys surely should want to be in a balanced situation where they aren't having emergencies... but they also likely don't need to have 1 year's worth of cash on hand, either.. .that seems excessive.

This has  really opened my eyes, to be honest. I have  always been hearing people say, save for emergency, but I never knew there were levels to it like emergency funds, reserve funds, and float..... As someone just starting out, because I used to think that saving a whole years worth was the only way to be safe, but now I see that it is more about balance and knowing your own situation.
‎My income is not  that really stable yet, so what you said about not creating your own emergencies by not planning ahead really makes sense..... I still have alot things to figure out, but I am  glad I came across your explanations. It really helped clear things up for me.
‎

Some Folk still make the get wrong of investment in that they forget that they need not to be financially independent before they invest, whether it's stable income source, emergency fund or floating cash. To continue investing in Bitcoin you need a discretionary income. To be honest, when I was a beginner (even I'm still beginner) in Bitcoin investing I didn't really think about floating cash or emergency fund money that seriously. However, it still positively affects me in terms of Bitcoin accumulation because I have not had an emergency yet. I have not prepared myself for the possibility of needing emergency funds at any time but I will build up funds as my holdings grow in the future. But I have funds saved in the bank ready to meet emergency needs. It would have a positive impact on the investment because you have a source of discretionary income.
There are many Bitcoin Investors whose unstable source of income is still in but they continue to accumulation Bitcoin. It is good to have an emergency fund for long-term Bitcoin management but this may be the starting point and he will strive to increase his stable source of income for the long term.

[JayJuanGee]

[edited out]

This has  really opened my eyes, to be honest. I have  always been hearing people say, save for emergency, but I never knew there were levels to it like emergency funds, reserve funds, and float..... As someone just starting out, because I used to think that saving a whole years worth was the only way to be safe, but now I see that it is more about balance and knowing your own situation.
‎My income is not  that really stable yet, so what you said about not creating your own emergencies by not planning ahead really makes sense..... I still have alot things to figure out, but I am  glad I came across your explanations. It really helped clear things up for me.

There are several guys here, including myself, who frequently emphasize learning through experience, which is also one of the reason why so many of us suggest to get started with your bitcoin investment as soon as possible, even if you are only able to start with $10... Once you have some bitcoin, then you will likely be more inspired to keep track of it and also to potentially clear up your cashflow so that you can figure out if you have more money that you can put into bitcoin from time to time, and if you get to a point that you are buying bitcoin every week for months and months or even into several years, you will start to see that the amount of bitcoin that you hold is adding up to a lot of money, and hopefully you are also able to figure out ways to increase your discretionary income by increasing your income and/or cutting your expenses.. which yeah, none of it makes a lot of sense in theory, and it tends to make way more sense when ongoingly practiced and reviewed and figuring out various ways to tweak, whether your investment into bitcoin is every single week or maybe it might end up having to be less frequent based on your own financial circumstances.

[Tungbulu]

There are several guys here, including myself, who frequently emphasize learning through experience, which is also one of the reason why so many of us suggest to get started with your bitcoin investment as soon as possible, even if you are only able to start with $10... Once you have some bitcoin, then you will likely be more inspired to keep track of it and also to potentially clear up your cashflow so that you can figure out if you have more money that you can put into bitcoin from time to time, and if you get to a point that you are buying bitcoin every week for months and months or even into several years, you will start to see that the amount of bitcoin that you hold is adding up to a lot of money, and hopefully you are also able to figure out ways to increase your discretionary income by increasing your income and/or cutting your expenses.. which yeah, none of it makes a lot of sense in theory, and it tends to make way more sense when ongoingly practiced and reviewed and figuring out various ways to tweak, whether your investment into bitcoin is every single week or maybe it might end up having to be less frequent based on your own financial circumstances.

Learning though direct experience can indeed be quite a powerful tool when building knowledge and confidence. Getting started with a small amount, even with an amount as little as $10, can also be quite a great way to get started in Bitcoin, you'll most likely be more motivated to track how much progress you've made, as well a to optimize your cashflow to create more avenue to invest more.

We can get the real value from consistent practice and also review. When you stay consistent to your investment by regular accumulation overtime, you'll definitely start seeing the impact of your efforts, which would serve as a major motivation for your to be more inclined to finding more ways to increase your discretionary income. Understanding the theory is one thing, but it's completely another different thing entirely to actually apply that theory in real life and also see it work in practice.

Ultimately, the key is learning and knowing how to tweak your approach as you proceed further. Nothing is for sure as circumstances can change, and in this case, there'll certainly be need for you to adapt to those changes. Whether it's weekly accumulation or even less frequently, the most important thing here is staying consistent and also patient. As you go further with the passage of time, you'll get better and even develop a much deeper understanding of what really works for you and also how to make the most of your Bitcoin investment.

[TEBTC]

Balancing your financial security is a good thing while investing in Bitcoin because investing in any business whether in crypto or any other business without giving much attention to saving is no a good practice as it will affect your financial stability and emergency fund should be as a matter of fact be compulsory for any individual who is ready to investing in Bitcoin because there are other things that will also need finance so putting all your money inyo Bitcoin accumulation will be harmful because Bitcoin investment is focused on a long term basis

[I_Anime]

Balancing your financial security is a good thing while investing in Bitcoin because investing in any business whether in crypto or any other business without giving much attention to saving is no a good practice as it will affect your financial stability and emergency fund should be as a matter of fact be compulsory for any individual who is ready to investing in Bitcoin because there are other things that will also need finance so putting all your money inyo Bitcoin accumulation will be harmful because Bitcoin investment is focused on a long term basis

No one is advising anyone to invest all their money in bitcoin, that’s why we have emergency and reserve funds . You going all out with funds in bitcoin is you just being over aggressive then  _{you are no longer investing rather gambling} .which is not encouraging at all because you are still going to run back to that investment in a short while to take care of those expenses that’s meant for your emergency and reserve funds, and we all know that bitcoin is not a stable coin is prices usually fluctuate so there are chances you selling in loss that moment due to desperation.

So better stick with the simple term , as you are accumulating bitcoin keep some percentage for your emergency funds and reserve funds , the percentage is based on your cashflow. Everything all about balancing so that you won’t endup messing up your investments when is still early or haven’t yield you anything .