You can build your emergency funds, as backup for your Bitcoin investment.

[Smartvirus]

E. There's one thing that always help me to save cost, I will plan my week and withdraw the particular money I need to spend for that week and keep, through out that week I will make sure I don't withdraw again and if I have a leftover money for that week i will add it to my savings account.

These ideas would work very well in a situation where you have no one else depending on you or using you for a side hustle. My broda, for this country way we Dey eh, you fit Dey hustle your own make people way you sabi and even people way you no sabi Dey hustle you o, lol… na the funny thing be that. For this country eh, the economy Dey tough every body but, e get people way e touch pass you and na you those people Dey carry get hope. You go just Dey like this, call go enter your phone with situationship needing help. If your mind no strong reach, you go fall for plenty and that budget way you think say, you don use plan your week, e don finish with just 2days into the week o.

[Coyster]

E dey very important to live within your means, many people dey change their status when dem never suppose do so, if you keep everything in check, you go fit save money, use some for investment and keep some as liquid emergency fund. Financial intelligence dey very important oh, but so many people no know, that is why you fit see person wey dey earn N500k, dey do better than person wey dey earn N800k, because the former dey disciplined and him dey financially literate.

[igebotz]

D. Take Advantage of Community Resources.
If you know you don't have what it takes to stay in big cities then stay in your community and take advantage of your community resources if it is farming you farm it will help you save cost.

Environment matters alot so I won't say they should go back to the village to live but they can live in the city with a budget and still go by the day living like a normal person. Don't be pressure by what the society is doing but stay disciplined and keep building.

Fair point, however there's nothing wrong with moving to the village to save costs. There are those who made a lot of money, retired early, and returned to the village to settle, not because they couldn't afford to live in a city. Just arguing that we shouldn't think of villages as the least desirable places to live.

Some villages are wilder than most cities 

[EarnOnVictor]

It is wise to consider an emergency fund and all your points are valid to help secure it. However, I prefer people to look beyond the "emergency" itself and focus on investment and more sustainable earning means that will continue to enrich the person to have excess.

Saving of funds these days is no longer encouraging as inflation is eating our savings in the bank. So instead of opting for emergency funds saving (and of course using your strategy and even more), one can convert it to investment funds, in which part of it will be ready at any time needed to cover emergencies. That looks like a better plan to me.

I think I agree with O.P and disagree with what you just said above, because emergency funds are meant to be emergency funds, and not what you go about withdrawing your investment funds everytime you have a little personal or family emergency, since one thing that is certain in life is that there will always be an emergency, just as accident and as an investor, inculcating the habit of not always touching your investment funds is one criteria for financial success.

I must say I love the way you approach this, and yes, I fully understand what "emergency funds" are and how valuable they are. It only seems to me that you do not understand my disposition, that's why you think there will not be even excess to tackle any emergencies. This is all about planning.

Note, anyone who struggles to save emergency funds will surely struggle to save for investment. In the same way, anyone who can easily save for the emergency fund will easily save for investment funds. Am I right? This means that money is not the issue for the latter but just prioritizing the emergency funds separately. Needless to today, there could still be some money to fall back on even when you are doing business or investing, there are dividends for your work.

And talking about business and investment, many don't bother about emergency funds again when they flourish in them, they have excess money (and even savings) to pay any bills whatsoever. That's one of the purposes, and mind you, when investing with the mind that you need some emergency funds ( as addition), you should invest with diversification where you have instant access to some funds in case you want to liquidate them for the unforeseen. It's all about planning.

[asarfiar]

No one wants to be left behind in terms of savings, many choose the area of ​​income from the time frame after a certain period. Everyone's plan is not the same, but it is wise to devote yourself to a savings program by reducing excess expenses within the income. I think the center of a person's income is his partner, especially if the person has a good life partner, then it is possible to save a little even with a small income. It is wise not to spend unnecessarily on any unnecessary work and to manage the savings process keeping the future in mind.

Many people have a lot of weekly or monthly income but due to the lack of a specific plan, they make their lives miserable, let alone saving. Some people, even with a small income, manage a weekly or monthly savings process with a well-thought-out and well-thought-out plan. So I think we all should have a specific savings fund, no matter how much we earn, which is capable of providing great help in the future.

[SmartCharpa]

Emergency funds are very important to have as an investor however building an emergency funds on a low income can be challenging, but it's definitely possible with the right approach, and here are some approach that can help you.

A. Start little by little and be very consistent.
All you need to do is start small no matter how small the money is, just be accumulate it and be consistent with time you will build a very strong backup funds, you can use the " pay yourself first" method which means saving before using your Discretionary income for anything else, the key to succeeding in these is by being consistent.

B. Cut down all unnecessary spending.
Cut all unnecessary spending for example eating out especially in expensive hotels, and what ever you want to do always look for cheaper alternative for example buying your food items in bulk.

D. Take Advantage of Community Resources.
If you know you don't have what it takes to stay in big cities then stay in your community and take advantage of your community resources if it is farming you farm it will help you save cost.

As an investor, it is important to save for emergencies. To be honest, it can be tough for an investor to build emergency money when they are already into investing, but one needs to do step by step to make the saves for an emergency. It is not like saving we can do all at once, but it is very necessary for an investor in case an emergency happens, we should not sell the investment wey we been don start for a long time.

Of course, reducing our spending is good, especially when you consider the situation of our country; we have no idea where we are going because everything is becoming more expensive, and man has no choice but to spend more than he earns. But reducing our expenses doesn't mean we shouldn't eat; some newbies should not see the advice and start starving to prevent themselves from eating three times a day because we work so hard to chop.

However, I have seen plenty of individuals who have relocated from the city to their village, and it is not because city life is more expensive for them to live in, but because they find it difficult to make money in the city. You are right because we are known for farming, we should not be as eager to make it as our friends if it doesn't work out for us in the city, our forefathers' lands are available in the village; one must start somewhere, and being a farmer can't stop us from making millions.

[MainIbem]

No one wants to be left behind in terms of savings, many choose the area of ​​income from the time frame after a certain period. Everyone's plan is not the same, but it is wise to devote yourself to a savings program by reducing excess expenses within the income. I think the center of a person's income is his partner, especially if the person has a good life partner, then it is possible to save a little even with a small income. It is wise not to spend unnecessarily on any unnecessary work and to manage the savings process keeping the future in mind.

Many people have a lot of weekly or monthly income but due to the lack of a specific plan, they make their lives miserable, let alone saving. Some people, even with a small income, manage a weekly or monthly savings process with a well-thought-out and well-thought-out plan. So I think we all should have a specific savings fund, no matter how much we earn, which is capable of providing great help in the future.

Your point is valid but then, someone doesn't necessarily need at good partner when it comes to savings, it's a habit that should be normalised cause image you're single, would you be waiting for when you have a good partner before saving? the answer is no, on the other hand it is very important to know people completely before choosing them as partners but that's a discussion for another day. Anyways every Bitcoin investor should be already good with saving cause the concept of Bitcoin investment involves saving for the future and that's why it's got long-term plan therefore someone that doesn't have the habit of saving can barely survive when it comes to Bitcoin investment cause on the long run they could be triggered to take profits when it's not due. There's this wise saying that a man who fails to make plans is already planning on fail what am trying to say is that if one doesn't make plans for their future then they'll live a life of regrets when that time comes. For instance, those who saw and believed in the future of Bitcoin are reaping the rewards currently but those who sold their coins and failed to save are currently regretting.

[Lembo69]

If you want, you can create a nursery as a backup. From some source of income from Bitcoin. By doing this, you will get both entertainment and new ideas. It will also play a role in protecting the environment of the world. Or you can create a farm. Which will be a beautiful and great decision for you and your family, we are all aware of the financial income of the farm.

But it would be best to choose the work that you are passionate about or the work that you are skilled in. First, plan in which work you can achieve success. Then try the work that comes to your mind. There is no alternative to work. Any work can be a message of peace for you.

[Salahmu]

If you want, you can create a nursery as a backup. From some source of income from Bitcoin. By doing this, you will get both entertainment and new ideas. It will also play a role in protecting the environment of the world. Or you can create a farm.

But it would be best to choose the work that you are passionate about or the work that you are skilled in.

If you build your emergency back up that way then you are more or less an investor with no back up because using a farm as back up will be too slow for what the person will use it for because we no that in this country everything farming normally come on the season is supposed to, so your emergency back up will take very long, and secondly emergency back up is not supposed to be place under anything you are just passionate about because it should be something you can pick anytime you want, if perhaps the emergency back up is big and the time for usage is in a year, putting it on a feast deposit is a good back up.

[Cityhunter34]

Op all this things them wey you talk like this dey very necessary for us to consider first before venturing into Bitcoin investment. Because person wey know set up a good emergency funds before in enter Bitcoin investment go just end up selling in Bitcoin early, while because when in get any challenge him know go fit withstand. But when person plan him self very well e go help you to hold your Bitcoin for a long time investment. However, na wetin make e dey very good to set up something aside from your Bitcoin investment.

[Mate2237]

Emergency funds are actually good for backup plan for investments especially when it comes to crypto currency especially Bitcoin so I will agree with you that emergency funds be used for investment which can bring money to your account at the end of the day because emergency funds are not always used for spending as it's only used in time of problem

I will say that people should take investment serious because it's key to your financial stability and growth for individuals who are struggling financially

[Adbitco]

I will say that people should take investment serious because it's key to your financial stability and growth for individuals who are struggling financially

Bitcoin investment is the best and when properly invested for long term you would definitely enjoy the profits from the investment. Most people doesn't know how to channel their investment properly because when they don't plan very well it usually ends the other way round where they would have to pull off their investment if they don't have reserved funds or emergency fund to use as back up for their expenses when the need arises.

[ejikeme24]

Adding to my earlier reply,

A. Start little by little and be very consistent.
All you need to do is start small no matter how small the money is, just be accumulate it and be consistent with time you will build a very strong backup funds, you can use the " pay yourself first" method which means saving before using your Discretionary income for anything else, the key to succeeding in these is by being consistent.

Here's the catch, not being able to start small make it difficult for you to not do it big. Not being able to save money when you're on a minimum income, you'll become a careless spender that will go broke when the source of his income increases or stops because you're living pay check to pay check and not responsible. Anything that you want to do, start small to build up the interests before you go bigger.

D. Take Advantage of Community Resources.
If you know you don't have what it takes to stay in big cities then stay in your community and take advantage of your community resources if it is farming you farm it will help you save cost.

Environment matters alot so I won't say they should go back to the village to live but they can live in the city with a budget and still go by the day living like a normal person. Don't be pressure by what the society is doing but stay disciplined and keep building.

Exactly there's nothing like having all it takes before one can live in the city as long as you can afford the bills I mean in terms of paying house rent and other things, I think that's just the major challenge we always have when we are living in the city. Perhaps it most not only have to do with farming alone, how about those that has a very nice skill? You know there are some skills that can't help probably when we keep staying in the village.

but the very moment you just decided to move to the city, sometimes you most not even think of having all it takes before moving to the city because you strongly believe that the moment you showcase your skill to one or two persons, from there they  can start creating more opportunities for you, at this point you start building yourself and as well planning for your future.