The importance of Not spending

[purple_sparkles]

The best way to use your money wisely is by planning your budget. No matter what, it’s important to divide your income properly, and there should always be a section for untouchable investments (for example -bitcoin) and savings. Basically, you can spend the rest of your money however you like, but some points must remain unchanged. Every person has different desires and needs that we choose individually, but the system of savings follows the same principle for everyone.

[ruykeri]

The only way to escape from the trap of the dependent banking system and economic insecurity is Bitcoin. Maybe the next economic revolution will be through Bitcoin.

It has a long way to go with adoption and acceptance if bitcoin comes close to worldwide acceptance. There are countries which are very much against bitcoin through indirect means like huge taxation percentages on capital gains.

Meanwhile collecting and keeping bitcoin safe with you will not be a problem if you are willing to see what happens to bitcoin in the future. Spend fiat for daily needs and keep bitcoin. Use your earning to buy bitcoin whenever the price goes down and you will soon see your total number of bitcoins increase gradually.

Dont spend the coins on drugs/hookers and shit like that, those are waste of money and you will regret it in future.

I agree with you totally . It is true that global acceptance is still a long way off. The fiat currency system that exists in the world is basically against Bitcoin. Earlier, governments of different countries have carried out many kinds of propaganda about Bitcoin at different times. But now it is seen that many countries are showing a positive attitude towards Bitcoin. I think they have a different plan behind this. They may want to dominate the world with Bitcoin just like fiat currency. Since the government does not operate on the basis of a single decision, they may not be able to make much progress in this regard either. Before they understand, we should create enough Bitcoin assets. And those who consider Bitcoin as their future security asset never use Bitcoin for addiction or luxury. Wasting Bitcoin for something worthless can never be a conscious decision. We need to hold Bitcoin consciously and even use Bitcoin consciously.

[knowngunman]

The best way to use your money wisely is by planning your budget. No matter what, it’s important to divide your income properly, and there should always be a section for untouchable investments (for example -bitcoin) and savings. Basically, you can spend the rest of your money however you like, but some points must remain unchanged. Every person has different desires and needs that we choose individually, but the system of savings follows the same principle for everyone.

The issue here is that some of us mistaken saving and investment to be the same while they're not. Money invested should not be part of your plan when emergency situation arises or when you need money to spend either on important things or frivolity. The moment you start turning to your investment as your saviour in times of need, it's not longer investment but saving. It's your savings that are meant for your emergency needs not your investment. Most of us are too quick to make investment without proper planning in place to safeguard the investment.

[Fakhrulenclix]

The best way to use your money wisely is by planning your budget. No matter what, it’s important to divide your income properly, and there should always be a section for untouchable investments (for example -bitcoin) and savings. Basically, you can spend the rest of your money however you like, but some points must remain unchanged. Every person has different desires and needs that we choose individually, but the system of savings follows the same principle for everyone.

If finances are stable with all needs met and investments have been made, then savings are very important, even before starting an investment, we must also have savings or emergency funds, this is intended so that every investment step we take will not be disturbed by any urgent needs that occur in real life, especially for those who invest in Bitcoin, there should be no reason whatsoever to fail the investment except in the future when taking profits.

[Cgrexp]

In the case of long-term investment, one should start investing with financial preparation. Being dependent on investments to meet expenses in case of emergency means that the investor has not prepared his cash flow or emergency fund properly. Market ups and downs happen unexpectedly, so when the market falls and at the same time money is needed for emergency expenses, an investor is forced to sell at a loss. Which results in financial loss. An investor is successful only when he is not forced to sell his investment. Therefore, investment does not mean financial freedom, but financial freedom while holding the investment.

[Orpichukwu]

The best way to use your money wisely is by planning your budget. No matter what, it’s important to divide your income properly, and there should always be a section for untouchable investments (for example -bitcoin) and savings. Basically, you can spend the rest of your money however you like, but some points must remain unchanged. Every person has different desires and needs that we choose individually, but the system of savings follows the same principle for everyone.

I read somewhere that the best way to treat an investment as someone who wants to gather something up in life is to treat it as part of your needs, which means the way you budget money for your daily life expenses, you should also make provision for investment in others, not to miss an opportunity, like some who will have to satisfy their cravings first before thinking about investment.

[puloweh555]

It is really crucial to be able to hold bitcoin while also having money saved on the side so you won't have to touch your bitcoin investment. Regardless of whether the market is up or down.

Bitcoin is a highly volatile and unpredictable asset its price can change at any time because the market doesn't follow your goals. These risks must be understood before investing in Bitcoin. Once you fully understand the risks you will invest responsibly and be able to manage your finances effectively.

Even when managing your daily living expenses, you must be wise in spending what you need and set aside some money for unforeseen expenses, especially when investing in Bitcoin, which is unpredictable. Therefore setting aside money or creating an emergency fund or reserve is a wise move before investing in Bitcoin.

[john_egbert]

The best way to use your money wisely is by planning your budget. No matter what, it’s important to divide your income properly, and there should always be a section for untouchable investments (for example -bitcoin) and savings. Basically, you can spend the rest of your money however you like, but some points must remain unchanged. Every person has different desires and needs that we choose individually, but the system of savings follows the same principle for everyone.

I read somewhere that the best way to treat an investment as someone who wants to gather something up in life is to treat it as part of your needs, which means the way you budget money for your daily life expenses, you should also make provision for investment in others, not to miss an opportunity, like some who will have to satisfy their cravings first before thinking about investment.

That's a good way to put it, but this "need" should be still in a way manageable by you.. What I mean is, its amount should be adjusted to your capital and income for the process to not stop here and there.

[ASloveapg]

It is really crucial to be able to hold bitcoin while also having money saved on the side so you won't have to touch your bitcoin investment. Regardless of whether the market is up or down.

Bitcoin is a highly volatile and unpredictable asset its price can change at any time because the market doesn't follow your goals. These risks must be understood before investing in Bitcoin. Once you fully understand the risks you will invest responsibly and be able to manage your finances effectively.

Even when managing your daily living expenses, you must be wise in spending what you need and set aside some money for unforeseen expenses, especially when investing in Bitcoin, which is unpredictable. Therefore setting aside money or creating an emergency fund or reserve is a wise move before investing in Bitcoin.

It is not very necessary to create an emergency fund before starting Bitcoin investment, you can first start investing in Bitcoin and then create an emergency fund. Everything is unpredictable, so it is essential to clearly understand the risks before entering Bitcoin investment and be prepared accordingly. You have to be careful in all aspects, the market is unpredictable so there will be risks, you have to wait and move forward with the continuous investment, and keep an emergency fund for unexpected expenses during emergencies, so that there is no negative impact to the investment.

[Jostern]

I think spending our bitcoin is a very dangerous way of investing in our Bitcoin, which is why it makes more sense for us to be more focused on buying and accumulating Bitcoin instead of thinking to sell our Bitcoin probably when we land ourselves into any trouble, it makes more seems to hold bitcoin with some sustainable investment process, having an emergency fund, reserved funds, if you e are able to keep all this together it would be very important and necessary to keep our Bitcoin safe and sound, with a good mentality of building a successful portfolio.

If we decide to spend our bitcoin or probably our profit is more profitable, and we e trade it just for a quick profit and maybe wants to sort out some challenges that wouldn’t be a very good preferable investment and the priority is having a long term investment.

[Ziskinberg]

The best way to use your money wisely is by planning your budget. No matter what, it’s important to divide your income properly, and there should always be a section for untouchable investments (for example -bitcoin) and savings. Basically, you can spend the rest of your money however you like, but some points must remain unchanged. Every person has different desires and needs that we choose individually, but the system of savings follows the same principle for everyone.

Investment and savings are both crucial in life. Emergency funds and investment funds should therefore be separated so that when financial crisis comes, emergency funds will take over while leaving your investment continue to progress which could lead to profits in the next days or months ahead.

However, my own thought is that, if you don't have emergency fund savings, don't bother to invest because obviously that will never work in the long run as you can't assure investing for long term without touching your current available funds or profits. That was me before when I jump into investing without securing my emergency savings first.

[GeorgeJohn]

The most appropriate thing to do is to not spend your bitcoin investment at all until you are really ready to take out half or all of it.

From my views, the concern why investors to invest neither bitcoin or other digital currencies is because they wants expansion and they need more finance or capital to solve their problems...So if you invest on bitcoin with a target and on the process you had issues, you can't because of investment and allow your self perish, at most, you have to solve your problem with your investment capitals or else you lose your soul...what i expected from you, is that people who invest, should invest with their reserved funds not will everything they have.

That way you won't be that affected if the market declines. Now because you need some bills to pay and the market has declined, you do not want to spend your bitcoin anymore but what other choice do you have when you have no more money at the moment?

If you have any hope from, you have to sell your bitcoin...so it's necessary and understanding for investor to sell its bitcoin investment to sort out his issues.

It is really crucial to be able to hold bitcoin while also having money saved on the side so you won't have to touch your bitcoin investment. Regardless of whether the market is up or down.

You will sell your bitcoin when theirs a necessity...You can't because of investment and displeased your soul and spirit...investment can be pull off or withdraw at any point in time.

[AYOBA]

Saving of  money for emergency is very important and if you don't save money for emergency you will always touch your investment, because you won't have any choice. That is why is very important to have another source of getting money so that he won't affect your bitcoin investment. Some people are just after profit they don't remember that emergency can come anytime, we just need to be thinking well before we do anything possible.

That’s why they said if we come to invest, we should invest the amounts of money that we can afford to lose, but some will not have enough money that they will be using guide after they’ve invested. Especially the source income that you stated earlier, having sources of income is very important when we come to invest so even when the market is not doing well they won’t be panic since there’s another way of incoming.

But some people will go and put all the amounts of money they have in their hand in the investments. This type of people doesn’t achieve anything whenever they invest. Why? Because a moment they need emergency found they they will sell everything they’ve invested they don’t care how much their going to lose.

[ZAINmalik75]

The best way to use your money wisely is by planning your budget. No matter what, it’s important to divide your income properly, and there should always be a section for untouchable investments (for example -bitcoin) and savings. Basically, you can spend the rest of your money however you like, but some points must remain unchanged. Every person has different desires and needs that we choose individually, but the system of savings follows the same principle for everyone.

Even though you are right about budgeting and how useful it can be, some people actually don't earn enough to be able to save any money, so even if they do proper budgeting of their income, they will still have nothing left at the end that they can use for savings or investments. Those who earn more money than they need for the month are actually privileged, because they have the opportunity to keep investing some money every month in either cryptocurrencies or other investment areas, such as Gold.

Those who have limited incomes will have a hard time doing something for their future, because if you want to build something for the future, you will need to start preparing for it in the present. This is why it's important for people to try and strive to have more than one sources of income, so that they can also have some money left for savings and investments after all their expenditures.

[Scarlett_23]

When you have no more money then you think that you would just get money from your bitcoin holdings, this is where your investments gets in danger. When you have something to pay for and you already dedicated a part of your investment for that make sure that you will either take out the money immediately when the market is up otherwise the market might just decline and you might end up not being able to pay for whatever it is you have to especially if it is time sensitive.

The most appropriate thing to do is to not spend your bitcoin investment at all until you are really ready to take out half or all of it. That way you won't be that affected if the market declines. Now because you need some bills to pay and the market has declined, you do not want to spend your bitcoin anymore but what other choice do you have when you have no more money at the moment?

It is really crucial to be able to hold bitcoin while also having money saved on the side so you won't have to touch your bitcoin investment. Regardless of whether the market is up or down.

If you want to invest for the long term, there is no alternative to prior planning. Prior planning helps you to be mentally stable before investing. Investing money and building an emergency fund are basic lessons in Bitcoin investing. Emergency expenses are suddenly needed, so it is necessary for every investor to save it for three to six months. This provides security from any future danger, on the other hand, continuous investment gives financial freedom in the future.

[Out of mind]

When you have no more money then you think that you would just get money from your bitcoin holdings, this is where your investments gets in danger. When you have something to pay for and you already dedicated a part of your investment for that make sure that you will either take out the money immediately when the market is up otherwise the market might just decline and you might end up not being able to pay for whatever it is you have to especially if it is time sensitive.

The most appropriate thing to do is to not spend your bitcoin investment at all until you are really ready to take out half or all of it. That way you won't be that affected if the market declines. Now because you need some bills to pay and the market has declined, you do not want to spend your bitcoin anymore but what other choice do you have when you have no more money at the moment?

It is really crucial to be able to hold bitcoin while also having money saved on the side so you won't have to touch your bitcoin investment. Regardless of whether the market is up or down.

Yes, it is very important that you do not have to be financially empty to invest in Bitcoin, but it is important to create an emergency fund. If you need money later after investing in Bitcoin and we do not get money to meet our needs, then our focus is on our investment, and from there the issue of spending arises. However, it is certainly true that if you do not have money, then the investment is at a high risk. Many times, if you do not have money for urgent needs, then even if the market is falling, you still have to sell it to meet that necessary need.
That is why you do not have to invest, but to sustain the investment, it is also very important to create an emergency fund, in which the investment will not be risky. I think that if you can save money along with investing, then you can invest some amount during the market fall, and you do not have to spend money from your own investment during financial needs, in that case it is important to save money after our investment.

[martinex]

If you want to invest for the long term, there is no alternative to prior planning. Prior planning helps you to be mentally stable before investing. Investing money and building an emergency fund are basic lessons in Bitcoin investing. Emergency expenses are suddenly needed, so it is necessary for every investor to save it for three to six months. This provides security from any future danger, on the other hand, continuous investment gives financial freedom in the future.

First, ensure your funds are stable and have other income sources besides your main salary or fixed income. Once these are clear, invest. Sometimes, calm investment is necessary because when we are busy with fixed expenses that must be met but still force ourselves to invest in cryptocurrency, it feels inelegant and awkward. If we haven't completed our investment schedule, the results won't be optimal, only fatigue and stress will arise, forcing our bodies and minds to work extra hard.

[hero_the_bossman]

If you want to invest for the long term, there is no alternative to prior planning. Prior planning helps you to be mentally stable before investing. Investing money and building an emergency fund are basic lessons in Bitcoin investing. Emergency expenses are suddenly needed, so it is necessary for every investor to save it for three to six months. This provides security from any future danger, on the other hand, continuous investment gives financial freedom in the future.

First, ensure your funds are stable and have other income sources besides your main salary or fixed income. Once these are clear, invest. Sometimes, calm investment is necessary because when we are busy with fixed expenses that must be met but still force ourselves to invest in cryptocurrency, it feels inelegant and awkward. If we haven't completed our investment schedule, the results won't be optimal, only fatigue and stress will arise, forcing our bodies and minds to work extra hard.

Stable income = stable opportunities to get yourself more BTC.

No nerves or problems along the way

[NewRevelation]

It is really crucial to be able to hold bitcoin while also having money saved on the side so you won't have to touch your bitcoin investment. Regardless of whether the market is up or down.

Yea, that's why it is advisable that we invest from our discretionary income, that's is, haven been able to sort out basic family or personal needs from the main income, and the left over money which is our discretionary can now be used for the investment.

Secondly, newbies are best adviced to use the DCA strategy to accumulate Bitcoin since this method gives them more free hands to acquire Bitcoin with smallest left over income so that they are not lacking in other most needed things all in the name of investment.
And to ensure that you don't tap into your Holdings when things get rough, investors must learn to build up there emergency funds and other back up funds so that they can really stand out for you when you need it, this way, your investment is protected as you wouldn't be tempted to cut down your investment to settle things. Not setting up these back up funds and/or emergency funds would affect your investment negatively in the future when needs arises

[DiMarxist]

investors must learn to build up there emergency funds and other back up funds so that they can really stand out for you when you need it,

Without a safety net, it is easy to panic during tough times and pull from investments at the wrong moment. Having emergency funds in place gives you peace of mind and allows your Bitcoin or any investment to grow undisturbed, you made a great point there.