Many people think, "Let's invest first anyway" and then the expenses will be arranged, and this is where the problem begins. Bitcoin is a volatile asset, and any volatile asset has risks. But the biggest risk for Bitcoin is not the market, but rather cash flow and psychological stress. When the money is invested with money for rent, food, medicine or emergency family expenses, people get scared and sell at the slightest dump, because they have no other choice. So at least for me, budget first, then investment, this can be a good decision. From the monthly income
First of all, and above all too, people must organize and keep their lives safely before thinking of investment. Investment is only a safe choice, and helpful for their finance if they begin with solid financial foundation that does not need to be from rich people but must be organized well, and never like using all money for investment.
You don't need to be organized before getting started investing in bitcoin. All you need to do to get started is figure out that you have discretionary income that is availabe.
Sure, you will likely do better to sustain your investment if you organize, yet you can do that as you go, it is not required in order to get started investing in bitcoin.
Honestly detailed organization can be on the go instead of trying to figure out every thing at once.
There is nothing wrong with being organized, yet there is also nothing wrong with newbies starting out from where they are at and then hopefully working on improving their organization status through their buying bitcoin and perhaps because of their buying bitcoin.
Some people are going to be more organized than others, and some people might have really screwed up financial situations including debts and loan payments, yet the main thing still remains if they can determine that they have discretionary funds, then they can get started.
Surely there are people who have such messed up finances and organizational skills that they cannot determine the extent to which they currently have discretionary income or that they would be able to put money into bitcoin to lock up for 10 years or longer, so they might not be in a position to get started - or maybe they can start out with $100 or $10 or some other amount, yet they might not be able to continue to buy more until they get their finances in order and/or their psychology.
Of course, the worst situation would be when people do not have common sense and/or abilities to learn, yet I personally believe that those are less than 2.5% of the population that have that issue.. so they need help from others...and sure some kids might not be mature enough to keep themselves from becoming emotional and/or rash. So those people have to try to identify their own limitations.. and so sure sometimes they are not able to figure out that they are in such a situation.
So one thing is getting started and another thing is continuing, and for sure guys who organize themselves, which includes creating and maintaining back up funds, they are going to be in a better position to both continue to invest in bitcoin on a weekly (or whatever basis) and perhaps also to increase their aggressiveness levels. Aggressiveness should be applied based on the strength of ones cashflow management situation rather than based on the bitcoin price.
I have always used the phrase to paraphrase, "get the basics and get started with your Bitcoin investment journey". However, the point is what is defined as the basics and if I am to define basics I would say basics are the little things to know about Bitcoin investment that helps in giving the slightest idea about Bitcoin asset, like investment strategies, discretionary funds, long-term approach and few others. Other knowledges will unfold on the go.
I think that your basics might be a bit too much.. though I understand you are just mentioning them generally. So investment strategies can be worked out as you go, since getting started is merely figuring out how much is going to be put in to start, whether $100 or $10 or some other amount, and then perhaps figuring out how much to put in each of the following weeks.. and then of course, if a person is getting started, he has to figure out how he is going to source his bitcoin.. Does he know someone or will he start with an exchange? Are there fees, and does he feel comfortable holding those bitcoin on that exchange in the time that he is going to need to figure out self-custody. I personally believe in self-custody, yet I believe that self-custody is not needed to be figured out prior to getting started.
Whether or not you have discretionary funds seems sufficiently clear, yet surely a person may well need to be comfortable that he has enough discretionary funds to get him to the next pay period.
Even though many of us recognize and appreciate that the commitment to bitcoin should be 4-10 years or longer, so a newbie should have that in mind, yet some newbies might not be willing to commit to 4-10 years or longer, yet I think that they can still get started and they can perhaps continue to consider the extent to which they can come around to making sure that they are committing to 4-10 years or longer, and especially 10 years or longer except for guys who have age and/or health issues that could limit their ability to commit to 10 years or longer.
One of my main points is that there should be a certain urgency in getting started no matter the price, so that systems can be put in place in order to facilitate later decisions regarding whether to change the amounts being invested. The urgency is not FOMO, but rather a kind of self-preservation to put systems in place so that a guy has a choice and abilities to buy bitcoin, whether he later choses to invest in whimpy ways (such as not very much and not very frequently) or more aggressive ways with higher levels of his discretionary income and on a regular basis and even perhaps considering reallocating any other investments that he has into bitcoin.
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Don't wait any longer to start investing in Bitcoin to gain more investment skills. Start with the amount of funds you have and go with the flow. You need a discretionary income to start. Spending extra time gathering all the materials to get organized at the same time will distract you from the main point. The main thing is to start investing in Bitcoin and maintain your position regularly. Starting the investment journey is not easy but accumulation Bitcoin regularly will be easier for you if you have a discretionary income.
It can surely take time to build bitcoin investment skills and to strengthen cashflow management systems /practices, so in that regard, there still should not be any problem getting started as long as the person can figure out that he has discretionary funds, and surely a guy is not investing in bitcoin if he does not have discretionary funds, so having discretionary funds is a prerequisite in order to invest in bitcoin. - if someone uses money that is needed for expenses to buy bitcoin then that would be trading and/or gambling which I personally consider to be a bad idea.
