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Author Topic: Discretionary Income  (Read 57 times)
I_Anime (OP)
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October 05, 2024, 04:00:13 PM
 #1

In this forum no one is anyone financial advisor so you investing is by choice we only recommend good ideas to one another , so always invest wisely ( but investing in Bitcoin is already a wise choice). Okay now back to my topic, most of us here already understand the terms discretionary income, the amount of money that you have left for spending, investing, or saving after you've paid your taxes and paid for personal necessities.

The reason I brought this up I believe that most of us here are eager to meet our goal in our bitcoin accummulation (having nice amount of bitcoin) , especially those that are still brand new or haven't gotten far in their bitcoin accummulation. Mostly time like this where bullrun is at the corner.

Because of that which have mentioned above , some folks may try to be too aggressive which may lead them using money they shouldn't use , that are meant for their necessities or expenses, to invest ( like emergency funds) just to give themselves some boost in their accumulation. But the truth is that you are only positioning yourself in a point of selling your investment too early before the main surging in price or before it yields you any profit. Because you will get to a point when one will start seeing his investment as his emergency funds which may lead to him selling or withdrawing from their investment regularly.

But using discretionary income, you have already ensure yourself that you are in for long-term holding. Because these are money you won't need for long time , so leaving it for long won't be a problem, and doing so you have already position yourself in a nice position in your Bitcoin investment as a long-term holder. So what am aiming at is that always make good planning in your investment to avoid ruining it,  before having the chance to even yield good profits from it .

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October 05, 2024, 06:54:37 PM
Merited by I_Anime (1)
 #2

It's nice to see someone bringing this here. I have talked about this same discretionary income on few occasions on the economy board, but I have always made my point from a general/ideal point of view. @OP, let me first ask a very simple question. How many percentage of Nigerians do you feel ends up having a discretionary income?. From my point of view, only few. Majority of the people for this country no dey chop remain, so the ideal of discretionary income might be a little strange unlike when trying to address the world in general.

But I bet you will agree with me that Nigerians are better off when they set aside money for investment, from money for spending?. It's just a common thing among us. I don't really know if it's an economical factor, but we always tend to split our income first before making necessary spendings, rather than consuming the entire income until a discretionary left over remains.

If I remembered correctly in one of my reply sometime this week, I made mentioned of few criteria that might be important for someone who wants to invest in Bitcoin without having the problem you stated, and I think I mentioned something like "how much someone earns, how much the person spends, and how much the person is willing to spend". No doubt, this criteria suits an average Nigerian who have plans to invest in Bitcoin for long. Even though ("how much the person is willing to spend") sounds like a discretionary income, but from the Nigerian aspect, it's literally an investment Income that comes when the investor has made that early splitting. But nevertheless, planning dey very important.


I_Anime (OP)
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October 05, 2024, 07:46:11 PM
 #3

But I bet you will agree with me that Nigerians are better off when they set aside money for investment, from money for spending?. It's just a common thing among us. I don't really know if it's an economical factor, but we always tend to split our income first before making necessary spendings, rather than consuming the entire income until a discretionary left over remains

To be frank many people for this our country nor go fit invest on bitcoin, some people nah by grace dem dey see food eat . So you nor go fit advice those set of persons wey go invest , because nah who dey Alive dey invest . But we nor go fit still hide the fact shey Bitcoin is one of the cheapest investment, wey person go fit start with any amount of money , and with consistency (DCAing) something good can come out from it .

If I remembered correctly in one of my reply sometime this week, I made mentioned of few criteria that might be important for someone who wants to invest in Bitcoin without having the problem you stated, and I think I mentioned something like "how much someone earns, how much the person spends, and how much the person is willing to spend". No doubt, this criteria suits an average Nigerian who have plans to invest in Bitcoin for long. Even though ("how much the person is willing to spend") sounds like a discretionary income, but from the Nigerian aspect, it's literally an investment Income that comes when the investor has made that early splitting. But nevertheless, planning dey very important.

Yeah planning dey really vital because with proper planning  , one can actually pull it off . Like for instance most of us wey dey here dey campaign, and this campaign can also serve as a good DCAing ( some percentage of it tho). And some of us here still get weting we dey do outside this space to back things up you get . So country like this if you useless money , yus know sey d kind shege you go see enn e nor go be small one , so man just gat to plan well , even find means to reduce expenses.

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October 06, 2024, 05:12:54 PM
Merited by Pi$$ (2), Sim_card (1)
 #4

After successfully cancelling out all expenditures and bills, having left with the discretionary income which should better be devoted into something meaningful like investment, not just Bitcoin investment, there are a lot more aside Bitcoin that is an option to be considered. For a more comfortable and profitable kind of investment, some people will decide to go on Bitcoin which is also one of the best form of investment in this digital era. 

No need being aggressive when investing in Bitcoin, the whole process should be based on accumulating very comfortably without facing any financial trauma, prepare emergency/reserved funds and find a suitable measure to accumulate enough portion of Bitcoin.

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October 06, 2024, 08:26:16 PM
 #5

But I bet you will agree with me that Nigerians are better off when they set aside money for investment, from money for spending?. It's just a common thing among us. I don't really know if it's an economical factor, but we always tend to split our income first before making necessary spendings, rather than consuming the entire income until a discretionary left over remains

To be frank many people for this our country nor go fit invest on bitcoin, some people nah by grace dem dey see food eat . So you nor go fit advice those set of persons wey go invest , because nah who dey Alive dey invest . But we nor go fit still hide the fact shey Bitcoin is one of the cheapest investment, wey person go fit start with any amount of money , and with consistency (DCAing) something good can come out from it .
omoor make we tell ourselves the real mattas time don pass when we go the classify bitcoin as one of the cheapest investment base on our country currency to the dollar, time when bitcoin been cheap don pass, we dey talk like 7years to a decade ago, no be now wey bitcoin price don reach $60+k and still climbing. If you convert that $60k to naira na roughly better around #96,000,000 (naira) be that.

Na which person wey dey earn #100k for the month go fit even the keep 20k regularly to the use run DCA when wahala wahala wahala and billing full ground. In a nutshell, IMO, bitcoin no be cheap investment anymore, maybe you fit talk about altcoins them like ethereum, SOL, BNB and the rest wey if person put in #100k and for this bull run it rises you fit make better considerable profit but put that #100k or even #300k for bitcoin and see if you fit make any significant profit except say na in million naira you invest in am. The only you fit tell me say bitcoin dey more safer than other altcoins not cheaper.

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October 08, 2024, 07:22:18 AM
 #6

After successfully cancelling out all expenditures and bills, having left with the discretionary income which should better be devoted into something meaningful like investment, not just Bitcoin investment, there are a lot more aside Bitcoin that is an option to be considered. For a more comfortable and profitable kind of investment, some people will decide to go on Bitcoin which is also one of the best form of investment in this digital era. 

No need being aggressive when investing in Bitcoin, the whole process should be based on accumulating very comfortably without facing any financial trauma, prepare emergency/reserved funds and find a suitable measure to accumulate enough portion of Bitcoin.
Yes I also agree with you, before investing in Bitcoin we need to do proper research, calculate our income and expenses, and then invest money that can be held for a long time without any hurdles. And always keep an emergency fund ready, so that we don't have to rely on our holdings in any emergency. We have to take the right decision after considering all aspects, Investing money that we may need at any time and relying on those holdings during that need will result in losses to us. So you have to invest money that you can hold for a long time and no matter how small it is. That small amount of money will pay you well in long term holding.
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