Bitcoin Forum

Discretionary income na that money way remain after you done pay all the necessary bills like you done pay NEPA people, you done remove money way you dey save for your next year house rent payment, children school fees if na person way done get family you done remove money for food and other basic things after you done settle all this things the money way con they remain na your Discretionary income and na the only money you suppose use buy Bitcoin if you go use money for house rent or food you go suffer and you go just go sell the Bitcoin and you no as Bitcoin they do e fit fall that time you won sell and as en fall your money too done reduce so abeg to avoid story use only your Discretionary income.
One of my friend done enter financial problem tire because en dey use money for basic needs go buy Bitcoin.

If you they dey aggressive for your Bitcoin accumulation abeg no go dey aggressive enter money way you won use to settle basic bills oo, abeg make sure say you dey only dey aggressive within your Discretionary income.

You know say eh get one thing way them they call “unforeseen circumstances” something way you no plan for and way you no budget for fit just happen all of a sudden and you go really need money to solve that kind problem that minute, nah why them they advise people to get reserve funds and for some situation even that money way you remove keep one side say nah for cases of emergency eh get some kind emergency way eh no they fit solve finish at that point in time you go gat touch small of your bitcoin to cover up.

To invest and to hold for long term requires make the person get Watin they give am money on the steady, make eh they always save up money, and make eh also pray make problem way big pass him savings no meet am for road.

Bitcoin na investment wey dem suppose carry money wey you fit afford to loose enter, so you no suppose use money wey you go use solve life problems tek buy bitcoin. Before you even start to dey buy bitcoin, you go try get stable income source, so you go fit tek care of your expenses, come get remainder wey be discretionary income, na from dis money wey remain afta you don comot expenses, naim you go try use part of am take buy bitcoin hold, come use de oda part carry build backup funds like emergency fund make you no dey tamper your portfolio when you no wish. Everything wey concern bitcoin accumulation suppose be from your discretionary income mek you no get problem as you dey buy and hold bitcoin. OP you dey correct

I actually support the idea of not using any amount you cannot afford to lose to invest into bitcoin, but seriously there is some money you can actually invest into bitcoin from not only discretionary funds alone you can use other amounts too outside your needs amount. For example if your income actually gives you the money to able to save for things like building of house and the intention is to actually invest it for a long time to use later like in 10 years time, I will advice in actually investing some part of this money into bitcoin.

Reason why I said that is because of the advantage of bitcoin to actually been an hedge against inflation, because if you save this money in fiat most especially this our local currency Naira it will definitely either lose value or the cost of things will increase but with bitcoin there is a high probability that bitcoin will definitely increase in this years or rather keeps it value,

Bitcoin no bi like gamble or shitcoins wey you go buy with money wey you fit afford to lose. Bitcoin na investment just like real estate,  gold and other assets. So you fit buy Bitcoin with money wey you no fit afford to lose. Rather I go say make you buy Bitcoin with money wey you go fit live without.

After you don set aside money for basic needs and emergency funds,  person fit use the money wey remain through DCA dey buy Bitcoin small small.  Investment no bi competition na him make every person suppose put in money based on the amount wey no go worry am because pressure fit make you sale your coins before the right time.

If you have a stable source of income, and if you invest in Bitcoin, you can buy more aggressively through discretionary income. For example, if you have high expenses such as going out, eating out, etc., you can reduce all expenses and invest with that amount of money.

Anybody wey get mind say he wan do correct bitcoin investment suppose understand this point wey you dey try raise here. E get different ways wey person fit take dey invest for Bitcoin wey include lump-sum, front loading and DCA. But generally, that DCA approach na the best especially for people wey get stable thing wey them dey do wet they dey sure say by month end day money go enter. As person wey wan invest wisely, you go first sit down, calculate your salary: if your salary reach 500k every month, you fit calculate all the Bill wey you dey pay every month both water, food, both money wey you go send mumsy and other things wey dey help your life like fuel for your car and other things.

After you don comot all your basic needs for the month, you go come calculate the money wey remain. Na that money wey remain, them dey call Discretionary income.

Out of that money now wey you call Discretionary income, you go come comot wetin them dey call Backup funds and emergency funds. this two funds wey I mention now go help you very well, backup funds to help to augment the price of those things wey you don already plan incase price comes change or incase the one wey you plan to use for the month no come stay till the end of the month. Emergency funds na the one wey you go comot incase of emergency like say person dey sick or say issues wey you must attend to come up.

Na after you don comot this two funds now from that your Discretionary income, you go come carry the one wey remain put for bitcoin. This way go help you make you no go rush sell your bitcoin when e never mature. Person wey no make better arrangements for all these things fit go carry their emergency money put for bitcoin, the day wey danger go come, you go go sell your bitcoin, and you fit sell am below wetin you buy am come loose money because you no go like make person die or make something spoil because you no wan touch your bitcoin. E dey good to invest Aggressively, but no go carry all your money put for bitcoin come dey stay hungry for house.

I get your point this method is more like a DCA investment method where a small amount of money is used for the purpose of investment over time so for the purpose of investment one have to make sure that he has settled all immediate needs before thinking about investment not only in Bitcoin but in general so when money comes at the end if the month we have to make sure that we take care of our needs



One thing that will help low income earned as it comes to investments is been intentionally about it so this will require you to be saving up little by little over time so you can use it in investing

In the investment in Bitcoin, discretionary income is very important to every investor, because it makes you more relaxed financially, and have confidence in the journey of your investment, because in the case of when their is a dip and you want to buy more and aggressively you use your discretionary income for any extra purchase of your Bitcoin, discretionary serves like a backup fund and so it is important that every investor has it in other to be successful in as much as you are going for a long-term investment.

Investing outside your discretionary Income is pure gambling as bitcoiners we are expected to invest only from our discretionary income which is our leftover fund after we might have settled all important needs, you can actually have some reserve fund just incase you want to accumulate Bitcoin aggressively properly where there is a decline in market with out overly doing it in a way it will affect your bitcoin hodling, though people can choose to do what they want but Investing with the amount you can't afford to loss can be problematic and can lead I'm selling out your Bitcoin investment when it's not yet right to sell.

And does investing with discretionary income not make it gamble again or does it eliminates the risk? No it doesn’t actually eliminates it but rather it only just reduces the risk of you getting into some unavoidable trouble financially when the market dips and with discretionary income invested you can simply be able to hold for long which is the key point in getting profit on bitcoin. But doesn’t mean you cannot invest some extra money outside your discretionary income into bitcoin.

Bitcoin is an asset for investment and an hedge against inflation so you can actually have your savings too in bitcoin if at all you can bare the risk of it and wouldn’t be needing the money in a short period of time but if the investment is for the next 10 more years the bitcoin historical record suggests you will be in profit

to add to what  you have already said, because you miss this part which am about to say, from that your discretionary income you will carve out money and allocate it to your emergency fund and you will also carve money and allocate it to your back up fund, less take for example now your discretionary income is 100,000 for the week or for month, you we not just use all the 100,000 and buy bitcoin you need to allocate some portion to emergency fund and some portion to back up fund, maybe less say you allocate 50k to bitcoin, then 30k to your emergency fund, and then 20k to your back up fund ehh don balance be that, build your emergency fund and backup fund along your bitcoin investment don't only focus on accumulating bitcoin and forget to build your emergency fund and backup fund to invest in bitcoin for long term no small tax oh, because if emergency arise and you don't enough emergency fund or backup fund to settle that emergency it will affect your bitcoin investment.

Some people think that investing aggressively means emptying all your money to invest in bitcoin, but they don't know that it's only the discretionary income that they can use to invest aggressively since it is the money that has been kept after other important bills has been settled. Investing aggressively should be within the reach of one's discretionary income so that it doesn't become a problem to you when you take money you have set aside for some important things you may need. And even when investing aggressively, it is not still advisable to empty your discretionary income, it is better to still keep some part of it as a reserved fund.

For the money way the person they spend excessively for watin no what am eh fit reduce am carry am invest for another thing, nah watin Oyibo piple they call “Delay gratification” make man no too enjoy forget say eh suppose invest for watin go sustain am tomorrow, to invest for bitcoin if some people fit make am their primary concern instead of how them they only regard am as something way dem go do anytime way them don look finish say this one nah spare money way dem no budget to put for anything.

You are very correct Zackz5000 it is good that we use only our Discretionary income to accumulate Bitcoin, if for example you are being paid $400 weekly and in that week all your expenses amount to $300 meaning your Discretionary income for that week is $100 now if you use $150 or $200 of your income to accumulate Bitcoin will you be able to sort out all your needs the answer is know and if you keep doing that it will be accumulating for you and the day you can't take it anymore you will have no option but to sell your Bitcoin which is why it is advised that will use our Discretionary income alone.
And one thing that has discouraged a lot of people from investing in Bitcoin again is just these, imagine accumulating Bitcoin for some time and you just sold it because you want to use the money to sort out what you refused to settle before and some time you may even sell when there's a dip in Bitcoin just because you want to sort out important house issues, starting over again gives some people issues and then they just decide to stop Bitcoin investment.

As  Bitcoin na waiting they take time before you go see profits, na e make say good make use money way we get that is our discretionary income way no say for now we no they ready to the money for personal or family issues and na e make say e they very advisable make we grow our emergency fund join am, should in case the need way we go use the come, so that we fit put hands for the emergency fund carry am solve our issues.

This Discretionary money go only make sense for person wey dey earn well. We know as the economy be now. Person wey dey earn 6-figure for our today harsh economy dey cry because of how bills pile up dey wait as salary just dey enter.

Instead of person wey no know how e be for em end to carry em small change the risk with market e better say the person find another thing invest in. Because ROI  for small capital na waste of time, resource and energy. Aggressive accumulation sweet when we sure say the amount heavy and we no get any plan for the money anytime soon.

If we wan wait sey na anytime wey we don belleful for money na him we go fit invest na wrong idea because the more we dey wait for the money to plenty, the more the economy dey hard dey go and we dey still survive, why we no just take that risk out of wetin we dey get start to dey invest, as the economy dey like this people they borrow well well with their small money as you take am, and some dey do akawo on top all these one still dey come from the same salary or any other business wey dem dey do still we dey survive, dis life na risk if you no fit risk am na him be sey you no go balance at all.

For your discretionary income if you dey determined you go get am take start your Bitcoin investment because dem sey "little drops of water make a might ocean" and before you know wetin dey happen You sef don balance for the investment line, as long as you still dey fit do akawo and get loans from akawo people you fit do Bitcoin investment, that one no mean sey make you go collect akawo money come do investment, wetin I mean be sey divert that your money wey you dey save for akawo hand to dey put am for Bitcoin investment.
it's all about your mindset and how you take understand am.

Na this one be the real financial mistakes wey GehGeh dey always talk about. Anything wey make you done dey touch money wey you suppose use settle bills and arrange yourself dey invest inside Bitcoin with hopes say the market go double am or add small thing on top make you get additional money. Na problem you done dey set for yourself be that because na that particular time wey the market go start dey fall. E go belike na your village people dey do you but no be them instead na your carelessness. Money for investment no suppose be urgent money, na money wey be say you no go need. Arrange yourself well first before deciding to invest and spending too because say this one go help you dey budget your life well.

Na the ogbonge advice be this. No be to rush gather everything you get go put for bitcoin because you hear say bitcoin dey do well now. If you put am finish you go come dey fast dey pray make miracle happen. Any investment wey pass a part of your Discretionary income go put you for financial stress and fit even come make you sell your bitcoin at loss when e too choke for you.

Na to first get wetin dey give you money and calculate amount well based on the basic needs you get and come see the amount wey you get. From that amount wey remain, comot money for emergency funds before you go come collect part and invest in bitcoin. This way now, you go fit forget your bitcoin for a long period of time make you for make better profit.
Plan your finances and no forget to take care of your responsibilities.

That is correct but sometimes no be about how many figures person dey collect every month rather, na about management skill, though bill matter dey but one suppose know how to manage end funds or resources in order to set everything ( running smoothly).  See dude, useless person na useless, careless person na careless person, no amount of money wey this kind person go dey collect wey en no go dey careless or useless but person wey Sabi management Sabi management and no amount of money wey this person go collect wey en no go make good use of the money because e be like carry come or inbuilt, infact na lifestyle be that.

Discretionary income for bitcoin investment is the amount of money or let me say capital you can be able to use to start up your bitcoin investment after you might have paid other of your bills and sorted out other expenses. You can see that from this explanation, your discretionary income is the just what you need to start your investment, because Most people thinks that you need a very huge amount of money before you can be able to start bitcoin investment, without know that it’s not true, even if your discretionary income is just $10, you can use it to start your bitcoin investment and as time goes on you keep developing in the process of your investment, and build up your emergency funds.

We don talk this thing many times, if you no get many streams of income, no consider buying Bitcoin for investment, if you do, you dey ruin your investment yourself.
What if shocking news happen and you have to sell the Bitcoin you buy with your discretionary money, wetin go con happen then, the thing be say, no invest in Bitcoin with only one source of income, e go worry you if you do so.

Op you try as you bring this topic come our local board.Discretionary income dey very important for the life of an investor.E get wetin dem dey call 'target' with the help of discretionary income you go fit build your portfolio to a decent amount and profit,as an investor you suppose get targeted profit wey you want for your portfolio and e go sha dey possible with the help of a discretionary income and emergency fund.Emergency fit arise anytime,so e go dey important to build up an emergency fund so that you no go tamper on your investment when you never get decent profit.Just imagine emergency case like wind pull of your roof and you don use your left over fund(discretionary income) for bitcoin investment and you no get emergency fund no way wey you no tamper your investment to fix your roof,so to avoid all this wahala e good to get emergency fund to backup your investment.

You explain well wetin this discretionary income mean and I like as how you take bring example with am for us wey we go still quickly understand as you relate am to our own standards. Bitcoin no be investment where one suppose dey feel say if them no invest into am, dem no go fit ever make am for this life, this one na lie and e dey among the misinformation wey dey go around come dey make people dey invest wen them never balance to invest or go cause more harm to their own personal lifestyles. With discretionary income, you mind go dey at ease with wetin you don invest and na to just dey watch your portfolio grow and reach the target wey you set for am to take your profits. Make your investment in bitcoin no be the second bank you go they take money from when emergency dey, Bitcoin investment dey crash with that purpose for mind.

You are very correct when ever we uses money not meant for bitcoin investment it can be considered as gambling because such person will surely sell out in a very short period or when not yet time to sell because such person wasn't Investing through his discretionary income which is his leftover fund rather he chooses to invest with money meant for family up keep or important needs.

Money for bitcoin investment supposed be Money way we fit afford to loss, money way we no go dey in need of for a very long time and not money for school fees, family feeding and other important and necessary stuff.