JJG’s Outline of Bitcoin Investment Ideas

[Bright0515]

Newbies to bitcoin do not have to pay off all of their debt in order to start buying bitcoin and even investing into bitcoin as long as they are able to calculate that they have discretionary funds.

One of the reasons why it's not advised to first settle all debts before starting to invest into Bitcoin (if the person is not financially capable to do them ones) is because the debt might delay the person from getting started (buying Bitcoin). My reasons for saying this is because there are some debts that will definitely take a whole year (or even more years) before it will be cleared and if someone wants to get all debts cleared before they start buying Bitcoin, they might also miss out some good opportunities.
So with this point I believe it's important to start buying Bitcoin when one have spare money (discretionary income). It's very possible to buy Bitcoin during big debts or small debt because the person will probably have extra money which they were not expecting. With the unexpected money or excessive spare money they can be able to pay some part of the debt and buy Bitcoin with the remaining.
But the only way to do this, they need to be discipline and also know how to manage there debts during their Bitcoin accumulation process. Based on my little knowledge about financial management, I believe that debt management and investments can literally help people to secure their future.

Of course, the more complicated their finances, then the more organized that they may need to be in order to make sure that they are not spending beyond their discretionary funds.

It's important they know that during financial complications (debts and other financial challenges), they shouldn't take more loans and involve themselves into more debts because things will definitely get more complicated.

[Loyang]

Doesn’t really sound proper to me to go into investing  most especially bitcoin while you have huge debt on your neck. And you cannot compare debt of a nation to that of individual, the pressures are different. No body disturbs the country for not paying debt as bank or any lenders out there will frustrate you and impose high interest on you if you don’t meet up with the agreement time. The best thing to do which I think is the ideal thing to do is to concentrate on settling the debt and wait patiently until you’re debt free. Then you can start accumulating. I think with this you will not panic even if the market isn’t going in the position direction because you know you are a free man and there is no pressure on you. There will always be opportunities to invest in bitcoin regardless.

If you are involved in debt, then you can definitely invest in Bitcoin, but you need to ensure that you have discretionary income. If you have discretionary income, then you can definitely invest. But if you cannot find discretionary income to manage your debt and necessary expenses, then you can stop investing, but if you can manage your financial situation in an organized manner at that time, then you can definitely find discretionary income.

If I am unable to explain to you, then you will understand if you read this comment by @JayJuanGee sir, I hope you will understand.

Newbies to bitcoin do not have to pay off all of their debt in order to start buying bitcoin and even investing into bitcoin as long as they are able to calculate that they have discretionary funds.

Of course, the more complicated their finances, then the more organized that they may need to be in order to make sure that they are not spending beyond their discretionary funds.

[Nheer]

You're right Jay, El Salvador for instance is in debt of billions in US dollar but they still own a strategic reserver and one of the first countries that adopted the use of Bitcoin so noting stops individuals who are in debt from owning or accumulating Bitcoin, people should learn how to manage their income in a way that they'll comfortably handle their expenses, invest and gradually settle their debts.

Doesn’t really sound proper to me to go into investing  most especially bitcoin while you have huge debt on your neck. And you cannot compare debt of a nation to that of individual, the pressures are different. No body disturbs the country for not paying debt as bank or any lenders out there will frustrate you and impose high interest on you if you don’t meet up with the agreement time. The best thing to do which I think is the ideal thing to do is to concentrate on settling the debt and wait patiently until you’re debt free. Then you can start accumulating. I think with this you will not panic even if the market isn’t going in the position direction because you know you are a free man and there is no pressure on you. There will always be opportunities to invest in bitcoin regardless.

One can still invest while on debts and you don't have to clear your debts first before investing. The major problem is finding balance and how much your income can cover. There is a time frame for paying debts so it's not as if you will have to allocate all your income for the debts. As long as your income can comfortably pay part of your debts (if you pay periodically), still cover your necessary expenses and still has extra money left (discretionary income) then you can still invest. Investing doesn't require much, you can start investing with even little amount.

But understand that if your debt consume most of the income and you barely have enough to settle your expenses then it's not proper to invest when you are not able to have discretionary income. The common mistake people make is borrowing money to invest thinking investment is guaranteed and can give them quick profits to pay back.

[AuchanX]

You're right Jay, El Salvador for instance is in debt of billions in US dollar but they still own a strategic reserver and one of the first countries that adopted the use of Bitcoin so noting stops individuals who are in debt from owning or accumulating Bitcoin, people should learn how to manage their income in a way that they'll comfortably handle their expenses, invest and gradually settle their debts.

Doesn’t really sound proper to me to go into investing  most especially bitcoin while you have huge debt on your neck. And you cannot compare debt of a nation to that of individual, the pressures are different. No body disturbs the country for not paying debt as bank or any lenders out there will frustrate you and impose high interest on you if you don’t meet up with the agreement time. The best thing to do which I think is the ideal thing to do is to concentrate on settling the debt and wait patiently until you’re debt free. Then you can start accumulating. I think with this you will not panic even if the market isn’t going in the position direction because you know you are a free man and there is no pressure on you. There will always be opportunities to invest in bitcoin regardless.

If someone has a really big and stressful high-interest debt, then it is probably not the right decision to invest aggressively. But the "wait until you are debt-free or you cannot start investing" thing should not be said in such a simple way. You know that not all investments are the same. There are some debts that are high-interest,, stressful and create big problems if you do not pay regular installments, then it is better to give priority to them first. But if the debt is controlled and if the interest rate is low and there is extra investable money after managing the monthly installment income, then you can start investing without being completely debt-free. On the one hand, time will pay you off your debt... On the other hand, your investment continuity will also be active. So I think debt is not the main issue. The main issue is whether we understand our cash flow.

[Rockson1]

You're right Jay, El Salvador for instance is in debt of billions in US dollar but they still own a strategic reserver and one of the first countries that adopted the use of Bitcoin so noting stops individuals who are in debt from owning or accumulating Bitcoin, people should learn how to manage their income in a way that they'll comfortably handle their expenses, invest and gradually settle their debts.

 Waiting to pay off debt it's almost same as waiting for a dip and miss out on several buying opportunities. Let's say it would take about 6 moths or a year to settle their debt then Bitcoin breaks an ATH before they could finish settling it.

I think people should understand this, there are repayment plans for someone or count that is into debt, the repayment plans is to allow them pay gradually and enable them to do other things, debt is not a death penalty and should not be an excuse not to invest if you can figure out your discreationary income since your repayments plans are intact and always met as at when due, there won't be any problem if you still do your investment, the instance you gave is right, futuristic investors will see debt a an obstacle to acumulate Bitcoin because they understand that debt can be serviced gradually, so as you go gradually with your debt servicing, yiu should also go as you can with your Bitcoin investment, no excuse.

[Nightwatchmare]

You’re very correct, having a huge cashflow is not a criteria for getting started in investing in Bitcoin, what is mostly important and we can say that it’s a necessity is actually having some money to keep buying bitcoin more efficiently and that is a discretionary money, when you get started it gives you an opportunity to stay consistent, well if you can increase your cashflow then that is fine and good for you that you’re getting started in also working in your cashflow and that would obviously help to increase your numbers of buying bitcoin instead of staying stagnant, so as an investor or a newbie that have a huge cashflow that is also good and doesn’t stop anyone from getting started and that isn’t a criteria for getting started, you can still start buying little by little on a consistent basis, which is also more efficient.

But then again, the definition of 'huge cash flow' varies from person to person. D idea is about having a good enough cash flow that after solving ur problems, can still have what u keep by d side. But I do always see savings as a mandatory thing to do with my funds. If after settling my bills, I save a particular amoun I intend to savet, if that amount is not realized, and there is no excess after saving that amount, I don't invest.

If maybe after sometimes, I feel like ok, the savings is up to a point I can afford to invest, then I'll deep my hands into it and invest, I don't call my savings a discretionary funds at all, it is completely different, it is like a must, but it is not at the top of my priorities, bills and debts are.

I feel it is really unwise to go into a long term investment being in debt or having pilled up bills, I think it is also not a good idea to me personally if I don't have any savings and I'm going into a long term investment, unless that investment will be bringing money to me ASAP. Long term investment here is an investment whose ROI will take a very long time.

If you are repaying your debt on installment and you have a steady income, and after you pay part of the debt and take care of your weekly or monthly expenses and you still have discretionary income, it never unwise to go into a long term investment since it is not stopping you not to pay your debt gradually and take care of your expenses, you do not necessarily need to save money somewhere before going into a long term investment, the emergency funds you will set aside when you are going into a long term investment or when you are investing in Bitcoin for long term will serve as your savings, any emergency that will happen and try to force you to sell your Bitcoin when you are not yet ready to sell it, you will depend on your emergency funds to take care of the emergency and continue accumulating Bitcoin consistently.

It is completely wrong to go in to bitcoin investment when you are having debts to settle even if you have a stable source of income, in my personal opinion I will focus on repaying my debt first before talking about investing in Bitcoin this is because whenever am owing it affects my peace of mind, though I would say you can do whatever you are comfortable with, Bitcoin investment is for long term and I wouldn't go down the road with debt when I have considered myself to be in a financial crisis which includes the debt am repaying, I prefer that settling debt should come first.

You are sounding like i said someone who is having debt should start investing in Bitcoin right away, no i did not say such thing, i said if someone is having debt and the person has a steady income, and after paying part of his debt and taken care of his monthly expenses, and he is left with discretionary income at the end, the person is free to invest in Bitcoin since his gradually paying off his debt, take care of his monthly expenses, and still have discretionary income to invest in Bitcoin conveniently and consistently, i do not blame you if you cannot invest in Bitcoin when you are owing because it will affect your peace and you do not want to compromise your peace for anything, but as for me if i am having debt and i found myself in a situation where i can be gradually paying off my debt, take care of monthly expenses, and i still have discretionary income which is what it takes to invest in Bitcoin, i will start investing in Bitcoin and i will not allow my debt hold me back, because there is no way a woman or a man will be free from problems in this world.

[Silikiem]

You're right Jay, El Salvador for instance is in debt of billions in US dollar but they still own a strategic reserver and one of the first countries that adopted the use of Bitcoin so noting stops individuals who are in debt from owning or accumulating Bitcoin, people should learn how to manage their income in a way that they'll comfortably handle their expenses, invest and gradually settle their debts.

 Waiting to pay off debt it's almost same as waiting for a dip and miss out on several buying opportunities. Let's say it would take about 6 moths or a year to settle their debt then Bitcoin breaks an ATH before they could finish settling it.

I think people should understand this, there are repayment plans for someone or count that is into debt, the repayment plans is to allow them pay gradually and enable them to do other things, debt is not a death penalty and should not be an excuse not to invest if you can figure out your discreationary income since your repayments plans are intact and always met as at when due, there won't be any problem if you still do your investment, the instance you gave is right, futuristic investors will see debt a an obstacle to acumulate Bitcoin because they understand that debt can be serviced gradually, so as you go gradually with your debt servicing, yiu should also go as you can with your Bitcoin investment, no excuse.

For someone owing debts and is having a repayment plan for the debt I think the person can still invest in bitcoin provided that such individual is not relying on the bitcoin investment to generate the money he will use to be paying those debts. If you’re relying on the bitcoin investment to repay the debts then you shouldn’t do that, rather you should be using the money to clear the debts first because most debts could be as a result of you owing your landlord for accommodation, or the grocery shop where you go to buy food for feeding and of which these are the basic things a man really needs to settle before embarking on bitcoin investment. So if you’re struggling with debts accumulated as a result of sorting out your basic needs then there’s no point going to invest in bitcoin . But in a situation where by the individual who’s owing debts probably have a  source of income where he is getting money to be paying the debt gradually according to the repayment plan then such individual can still invest In bitcoin after settling each payment plan with an available discretionary income at his disposal.

[JayJuanGee]

Newbies to bitcoin do not have to pay off all of their debt in order to start buying bitcoin and even investing into bitcoin as long as they are able to calculate that they have discretionary funds.
Of course, the more complicated their finances, then the more organized that they may need to be in order to make sure that they are not spending beyond their discretionary funds.

This is true as they have funds to spend. Beginners don't need to pay off all the debt they've borrowed from others. They only need to calculate their current debts. They say this because they're essentially brave as they might have additional funds so it won't be a burden for them.

We cannot presume the results of any calculations, yet the calculations involve figuring out both various income sources and amounts and various expenses that include the servicing of debts.  There can be all kinds of debt and/or all kinds of levels of complication and/or lack of accounting and/or lack of organization that had been taking place that might need to be sorted.

Yet the punchline determination can still be established by the individual in terms of figuring out these matters and figuring out a path forward that may or may not allow themselves to buy bitcoin depending on the availability of discretionary funds and perhaps depending on if it might be preferable to resolve some or all of the debt prior to buying bitcoin.

There also could be some debt that has higher costs (such as higher interest rates), and many times debts do not penalize for early payments, yet sometimes guys might get themselves into egregious debt terms (or perhaps did not read the details of the debt)... I personally don't mind debt that has an interest rate of 6% or less annually, and I believe that those kinds of amounts can be manageable, yet if there are debts that are higher or even into the 12% or higher territories, then there likely would need to be some priority to pay those higher interest rate debts first, even though they might still not need to be paid off prior to starting to buy bitcoin.  Guys can figure out for themselves how many activities they are ready, willing and/or able to juggle, even though surely there might be a bit of a presumption that some guys who got themselves into bad debt may well need to work on improving their future judgement, and it could be that a remedy to attempting to improve their future judgement might involve taking away some of the current complications and/or the ongoing existence of bad judgement. 

When facing financial difficulties everyone will naturally try to be more frugal with their expenses. This aims to stabilize expenses with income. It can be said that a balance between the two must be maintained. If this isn't possible someone who is greedy in spending will certainly make life more difficult as needs are sometimes difficult to obtain so adjusting income and expenses is necessary.

I know a guy who got into a bit of a battle with his wife over some spending that he had done, including his having had bought a vehicle that was somewhat luxurious (in accounting for their family budget) and he was also known to engage in those kinds of questionable financial decisions and bad judgement, and so when some further increases in expenses and loss of income came to them, he was pretty much forced to sell the vehicle within a fairly short period of time after buying it, and even having to take a pretty large loss in terms of how much he bought it for and how much he was able to sell it for.  This guy is still struggling with his judgement and his being able to figure out reasonable and practical priorities.. to both increase his income and/or to keep his expenses within reasonable boundaries of his expenses.  Frequently there can be some value in terms of going through current income/expenses and then projecting income/expenses into the future, and figure out how to deal with such matters to try to make sure that spending is less than income, and even though sometimes there could be some faster remedy in which the income goes up, yet there still can be limitations  in regards to how much the income is able to go up based on considerations of age, health, skills and even willingness to do certain kinds of work or even willingness to train for new work or to take other actions that might result in better future income expectations.

You're right Jay, El Salvador for instance is in debt of billions in US dollar but they still own a strategic reserver and one of the first countries that adopted the use of Bitcoin so noting stops individuals who are in debt from owning or accumulating Bitcoin, people should learn how to manage their income in a way that they'll comfortably handle their expenses, invest and gradually settle their debts.

Doesn’t really sound proper to me to go into investing  most especially bitcoin while you have huge debt on your neck. And you cannot compare debt of a nation to that of individual, the pressures are different. No body disturbs the country for not paying debt as bank or any lenders out there will frustrate you and impose high interest on you if you don’t meet up with the agreement time. The best thing to do which I think is the ideal thing to do is to concentrate on settling the debt and wait patiently until you’re debt free. Then you can start accumulating. I think with this you will not panic even if the market isn’t going in the position direction because you know you are a free man and there is no pressure on you. There will always be opportunities to invest in bitcoin regardless.

One of the important things about bitcoin is getting started as soon as possible and to develop good habits in buying bitcoin and also shoring up cashflow management systems/practices.

Sure, there is no reason to FOMO into bitcoin, yet at the same time, getting started soon is not the same mentality and/or practice as someone thinking that "there will always be opportunities," which may well be too much of a lackadaisical approach to something like bitcoin that may well take years and years to build up.

So it seems better to me for guys to figure out ways of getting started, even if they have to start out small, as long as they can figure out that they have discretionary funds, and yeah, if they created some fucked up circumstances for themselves based on their past behaviors of overly use of debt and/or other poor organization and/or cashflow management practices, then they can work on fixing and improving the consequences of their past fuck ups while they are building up their bitcoin investment, even if they might have to start out with just $30 per week into bitcoin rather than $100 per week.

In the end guys need to figure out the balance and figure out if they actually have discretionary funds available and what would be the better use of their discretionary funds..and if they exercised poor judgement in the past, they need to figure out ways to improve their present and future exercises of judgement.

Of course, the more complicated their finances, then the more organized that they may need to be in order to make sure that they are not spending beyond their discretionary funds.

It's important they know that during financial complications (debts and other financial challenges), they shouldn't take more loans and involve themselves into more debts because things will definitely get more complicated.

Sometimes lower interest loans can be taken out to pay off higher interest loans, yet otherwise I agree that if a person had put himself into a messy situation, then he should have goals to make progress towards getting himself outside of the mess and to otherwise improve his cashflow management and/or investment practices.

[SmartCharpa]

It is completely wrong to go in to bitcoin investment when you are having debts to settle even if you have a stable source of income, in my personal opinion I will focus on repaying my debt first before talking about investing in Bitcoin this is because whenever am owing it affects my peace of mind, though I would say you can do whatever you are comfortable with, Bitcoin investment is for long term and I wouldn't go down the road with debt when I have considered myself to be in a financial crisis which includes the debt am repaying, I prefer that settling debt should come first.

To me, there is nothing wrong with going into bitcoin while you’re in debt, but the question is, will you be able to pay back the loan when it is needed? If you can afford to pay the debt you have while investing in bitcoin, then you are good to go if you are comfortable with it. Don’t put yourself in pressure just because you want to feel among others holding bitcoin. Again you shouldn’t have it in mind that bitcoin will give a quick returns to pay back your debt. It’s not something that you can benefit from immediately, and there’s also a chance of losing money.

In addition, if you have a high debt, you can reduce them or clear them to avoid emotional stress during the up and down, Bitcoin is unpredictable you can also lose money even though you have a debt to pay. If you can’t control your emotions we need to avoid this situation, individual can end up borrowing more money to invest for a short period.

[Odohu]

To me, there is nothing wrong with going into bitcoin while you’re in debt, but the question is, will you be able to pay back the loan when it is needed? If you can afford to pay the debt you have while investing in bitcoin, then you are good to go if you are comfortable with it. Don’t put yourself in pressure just because you want to feel among others holding bitcoin. Again you shouldn’t have it in mind that bitcoin will give a quick returns to pay back your debt. It’s not something that you can benefit from immediately, and there’s also a chance of losing money.

In addition, if you have a high debt, you can reduce them or clear them to avoid emotional stress during the up and down, Bitcoin is unpredictable you can also lose money even though you have a debt to pay. If you can’t control your emotions we need to avoid this situation, individual can end up borrowing more money to invest for a short period.

Every investor must strive to separate investment funds from other things, this will give you clarity and purpose in what you are doing. That is to say that someone can be in debt and successfully invest in Bitcoin, this is possible and it happens, although not bad debt. How this happens is that, the money borrowed is tied to a business or investment that should be able to pay back the loan, this way the loan will not be of much burden to the investor. The moment a loan is taken and there is a means of servicing the loan, then I don't think there will be much problems. What is bad is if the investor took loans with  no other means of paying back apart from his Bitcoin holding as the bitcoin is not supposed to be exposed to such risk.

[Dewi Aries]

Doesn’t really sound proper to me to go into investing  most especially bitcoin while you have huge debt on your neck. And you cannot compare debt of a nation to that of individual, the pressures are different. No body disturbs the country for not paying debt as bank or any lenders out there will frustrate you and impose high interest on you if you don’t meet up with the agreement time. The best thing to do which I think is the ideal thing to do is to concentrate on settling the debt and wait patiently until you’re debt free. Then you can start accumulating. I think with this you will not panic even if the market isn’t going in the position direction because you know you are a free man and there is no pressure on you. There will always be opportunities to invest in bitcoin regardless.

If someone has a really big and stressful high-interest debt, then it is probably not the right decision to invest aggressively. But the "wait until you are debt-free or you cannot start investing" thing should not be said in such a simple way. You know that not all investments are the same. There are some debts that are high-interest,, stressful and create big problems if you do not pay regular installments, then it is better to give priority to them first. But if the debt is controlled and if the interest rate is low and there is extra investable money after managing the monthly installment income, then you can start investing without being completely debt-free. On the one hand, time will pay you off your debt... On the other hand, your investment continuity will also be active. So I think debt is not the main issue. The main issue is whether we understand our cash flow.

Exactly, I agree with this, the conclusion is that debt is not a problem or something that can completely hinder planning to start investing, but on the other hand, it does come back to how much debt you have and how much monthly income you get. If, for example, there is absolutely no free space at all, meaning there is no money left at all after meeting all living needs including paying installments, then it is certainly not time for you to start your investment. Waiting for debt to be paid off while you have a large income and are still able to control everything will only waste your time, every minute will be a missed opportunity.

[Livingleged]

ere also could be some debt that has higher costs (such as higher interest rates), and many times debts do not penalize for early payments, yet sometimes guys might get themselves into egregious debt terms (or perhaps did not read the details of the debt)... I personally don't mind debt that has an interest rate of 6% or less annually, and I believe that those kinds of amounts can be manageable, yet if there are debts that are higher or even into the 12% or higher territories, then there likely would need to be some priority to pay those higher interest rate debts first, even though they might still not need to be paid off prior to starting to buy bitcoin.  Guys can figure out for themselves how many activities they are ready, willing and/or able to juggle, even though surely there might be a bit of a presumption that some guys who got themselves into bad debt may well need to work on improving their future judgement, and it could be that a remedy to attempting to improve their future judgement might involve taking away some of the current complications and/or the ongoing existence of bad judgement.

My thoughts earlier was actually on those high interest loan. which I felt needed to be paid much attention to before investing into bitcoin to reduce the effect of the interest on the loan.. But I think I got convinced here by some replies and even yours too, That in as much as it is important to payoff debt, its more important to invest in to bitcoin so long as you’ve made a proper plan on how you’re going to pay off the debt alongside investing with your discretionary income. The only reason one should not think of investing first is just when he’s not being able to handle or settle his necessary expenses Which implies he has no discretionary income, that way he should not consider investing at that moment, until that gap is Bridge.

[Nheer]

It is completely wrong to go in to bitcoin investment when you are having debts to settle even if you have a stable source of income, in my personal opinion I will focus on repaying my debt first before talking about investing in Bitcoin this is because whenever am owing it affects my peace of mind, though I would say you can do whatever you are comfortable with, Bitcoin investment is for long term and I wouldn't go down the road with debt when I have considered myself to be in a financial crisis which includes the debt am repaying, I prefer that settling debt should come first.

I believe you're not using all your income to repay your debts. If you're not then investing is very possible, you can invest alongside paying your debts if you have discretionary income left after settling your expenses. The most important thing is managing your finances properly, as long as you manage them well then there's no need to panic, it's not as if you're not paying back the debts or you're not working towards it already. Nothing should stop you from investing or delay your investment unless you don't have discretionary income.

To me, there is nothing wrong with going into bitcoin while you’re in debt, but the question is, will you be able to pay back the loan when it is needed? If you can afford to pay the debt you have while investing in bitcoin, then you are good to go if you are comfortable with it. Don’t put yourself in pressure just because you want to feel among others holding bitcoin. Again you shouldn’t have it in mind that bitcoin will give a quick returns to pay back your debt. It’s not something that you can benefit from immediately, and there’s also a chance of losing money.

Owing debts doesn't stop Bitcoin investment as long as you have discretionary income left and your expenses are taken care of.
The only time you don't get to invest is when you don't have discretionary income left after taking care of your expenses or your income is barely enough to settle your necessary expenses. But if otherwise then there's no reason to delay your investment just because you're owing debts.

[Davidloki]

ere also could be some debt that has higher costs (such as higher interest rates), and many times debts do not penalize for early payments, yet sometimes guys might get themselves into egregious debt terms (or perhaps did not read the details of the debt)... I personally don't mind debt that has an interest rate of 6% or less annually, and I believe that those kinds of amounts can be manageable, yet if there are debts that are higher or even into the 12% or higher territories, then there likely would need to be some priority to pay those higher interest rate debts first, even though they might still not need to be paid off prior to starting to buy bitcoin.  Guys can figure out for themselves how many activities they are ready, willing and/or able to juggle, even though surely there might be a bit of a presumption that some guys who got themselves into bad debt may well need to work on improving their future judgement, and it could be that a remedy to attempting to improve their future judgement might involve taking away some of the current complications and/or the ongoing existence of bad judgement.

My thoughts earlier was actually on those high interest loan. which I felt needed to be paid much attention to before investing into bitcoin to reduce the effect of the interest on the loan.. But I think I got convinced here by some replies and even yours too, That in as much as it is important to payoff debt, its more important to invest in to bitcoin so long as you’ve made a proper plan on how you’re going to pay off the debt alongside investing with your discretionary income. The only reason one should not think of investing first is just when he’s not being able to handle or settle his necessary expenses Which implies he has no discretionary income, that way he should not consider investing at that moment, until that gap is Bridge.

Regardless of how we want to justify taking a loan even after setting a structured plan on how to pay off the debt, a beginner/newbie should never start their investment by taking a loan. An experince investor will know how to navigate the market and pay off the debt without getting frightened or panicking to withdraw his accumulation, but a beginner investor will tamper with his investment when the market is not favourable. Bitcoin investment is that type of investment that requires patience, emotional control, and discipline, and these are the qualities that every beginner lacks until they have matured to know how to control themselve they should never take a loan to invest in Bitcoin. 

An important factor to look out for is the aspect of unexpected financial event that affects a beginner investor with a loan debt. Imagine a case where a beginner investor under a borrowed loan loses his job, lacks promotion, or has a reduced income. The beginner will be forced to tamper with his investment, which limits the purpose of a long-term investment plan.

So let us be pretty clear here before beginners who will join this thread, do not misinterpret the discussion to go ahead and take a loan to invest in Bitcoin

[Charcol]

ere also could be some debt that has higher costs (such as higher interest rates), and many times debts do not penalize for early payments, yet sometimes guys might get themselves into egregious debt terms (or perhaps did not read the details of the debt)... I personally don't mind debt that has an interest rate of 6% or less annually, and I believe that those kinds of amounts can be manageable, yet if there are debts that are higher or even into the 12% or higher territories, then there likely would need to be some priority to pay those higher interest rate debts first, even though they might still not need to be paid off prior to starting to buy bitcoin.  Guys can figure out for themselves how many activities they are ready, willing and/or able to juggle, even though surely there might be a bit of a presumption that some guys who got themselves into bad debt may well need to work on improving their future judgement, and it could be that a remedy to attempting to improve their future judgement might involve taking away some of the current complications and/or the ongoing existence of bad judgement.

My thoughts earlier was actually on those high interest loan. which I felt needed to be paid much attention to before investing into bitcoin to reduce the effect of the interest on the loan.. But I think I got convinced here by some replies and even yours too, That in as much as it is important to payoff debt, its more important to invest in to bitcoin so long as you’ve made a proper plan on how you’re going to pay off the debt alongside investing with your discretionary income. The only reason one should not think of investing first is just when he’s not being able to handle or settle his necessary expenses Which implies he has no discretionary income, that way he should not consider investing at that moment, until that gap is Bridge.

Your revised position seems much more realistic than before. High-interest loans should be considered seriously, because leaving loans for a long time puts pressure on our cash flow, peace of mind and future investment capacity. At the same time, it is also true that the reality that we have to completely stop investing just because we have debt is not applicable to investors. It is not a matter of having debt or not. In the current situation, we have seen that most people are taking loans. Taking loans is not a bad idea, many are doing business with loans, some may be trying to better themselves. But the main thing is how much realistic balance we can maintain between debt repayment, necessary expenses, emergency funds and Bitcoin investment. If we cannot manage our rent, food, medical treatment, family expenses or loan installments properly, then of course we need to fix our cash flow first.  In that case, buying Bitcoin may be a more pressing decision than an investment. However, if one can generate some discretionary income after meeting essential expenses, then how one distributes that money is important.

I would not advocate aggressive Bitcoin accumulation in the case of high-interest loans, because if the interest on the loan increases rapidly, it can often weaken the person's financial situation before the potential benefits of Bitcoin can be realized. But starting small, building one's position, and continuing the learning process may be reasonable for some people, if it is truly from discretionary funds and does not affect loan installments or emergency expenses.

I think Bitcoin will give us opportunities for many decades, but time is also part of the investment. If someone sits for five to ten years waiting to completely pay off the loan, but could have accumulated Bitcoin little by little during that time, then they may be missing out on a big opportunity.

[alankasman]

Owing debts doesn't stop Bitcoin investment as long as you have discretionary income left and your expenses are taken care of.
The only time you don't get to invest is when you don't have discretionary income left after taking care of your expenses or your income is barely enough to settle your necessary expenses. But if otherwise then there's no reason to delay your investment just because you're owing debts.

This indicates that a person is ready to face a situation like what happens to those who invest even though they are tied to debt so this is a form of seriousness in someone who remains focused on investing without feeling a bit tired because during the investment period it is not a reason to delay investing as long as someone is still able to pay for the things they spend because basically investing requires being ready to experience whatever happens because the decisions that have been made by someone will be part of the needs that must be adjusted to income and expenses because these two things are one way for them to not do something excessive.

The reason why someone does not invest clearly shows the results of the income obtained by someone which is the main reason behind not investing because everyone when they want to invest must have income whether it is a small or large amount that must be owned by someone because imagine for example someone does not have income how can someone do it of course the answer is definitely not able to invest because buying Bitcoin clearly must be with the money they have and this is not guided by the fact that buying Bitcoin must be in large amounts, it is true that with large amounts will get big profits too but I think even with a small amount we buy Bitcoin of course the way it is done is the same as doing it in large amounts so sometimes someone has to do it with a large amount with the aim of not losing when later after investing using the long term loses in getting results or profits because at the peak point that occurs in the market which makes the price more than what was done when first buying Bitcoin is still at a cheaper number than what happened when the price was cheaper than what happened when the price exceeded what was done by that person so this is what is a little different in doing with large or small amounts and for me this sometimes causes someone with a large amount because the income that is owned by a person is far from someone who earns half the income of someone who earns more.

[KawasakiNinja1_]

Doesn’t really sound proper to me to go into investing  most especially bitcoin while you have huge debt on your neck. And you cannot compare debt of a nation to that of individual, the pressures are different. No body disturbs the country for not paying debt as bank or any lenders out there will frustrate you and impose high interest on you if you don’t meet up with the agreement time. The best thing to do which I think is the ideal thing to do is to concentrate on settling the debt and wait patiently until you’re debt free. Then you can start accumulating. I think with this you will not panic even if the market isn’t going in the position direction because you know you are a free man and there is no pressure on you. There will always be opportunities to invest in bitcoin regardless.

If you are involved in debt, then you can definitely invest in Bitcoin, but you need to ensure that you have discretionary income. If you have discretionary income, then you can definitely invest. But if you cannot find discretionary income to manage your debt and necessary expenses, then you can stop investing, but if you can manage your financial situation in an organized manner at that time, then you can definitely find discretionary income.

If I am unable to explain to you, then you will understand if you read this comment by @JayJuanGee sir, I hope you will understand.

Newbies to bitcoin do not have to pay off all of their debt in order to start buying bitcoin and even investing into bitcoin as long as they are able to calculate that they have discretionary funds.

Of course, the more complicated their finances, then the more organized that they may need to be in order to make sure that they are not spending beyond their discretionary funds.

You have misinterpreted, the reason why you would take out a loan if you have discretionary income. In fact, anyone would refuse to take out a loan for Bitcoin because it would disrupt their investment to pay off the loan. So if a new investor has discretionary income, he must try to remain debt-free, meaning that even investing a small amount of money will be a timely endeavor. When a person is able to invest free from any external pressure and any economic pressure, I think it is absolutely impossible for his investment to be hindered because it doesn't matter to him to immediately acquire the main thing for investment.

[Princess Leah]

You have misinterpreted, the reason why you would take out a loan if you have discretionary income. In fact, anyone would refuse to take out a loan for Bitcoin because it would disrupt their investment to pay off the loan. So if a new investor has discretionary income, he must try to remain debt-free, meaning that even investing a small amount of money will be a timely endeavor. When a person is able to invest free from any external pressure and any economic pressure, I think it is absolutely impossible for his investment to be hindered because they are able to raise investment that will work like their jet engine, even if it is a small amount.

Don't get him wrong, he didn't mean that people should take loans to invest in Bitcoin, what he meant is that someone can be in debt but still go into Bitcoin investment so far many the income is managed in a way that they have discretionary funds to invest and also be able to gradually clear the debt too.

 I don't think anyone that understands to an extent what investing in Bitcoin is all about would advise people to take loans to invest in it, it's more riskier and has it's own disadvantage so in general it's not advisable to avoid unnecessary pressure to sell off quickly when the investor doesn't meet up paying the debt on time, especially when the person has no means of generating income.

[sotelorene]

Doesn’t really sound proper to me to go into investing  most especially bitcoin while you have huge debt on your neck. And you cannot compare debt of a nation to that of individual, the pressures are different. No body disturbs the country for not paying debt as bank or any lenders out there will frustrate you and impose high interest on you if you don’t meet up with the agreement time. The best thing to do which I think is the ideal thing to do is to concentrate on settling the debt and wait patiently until you’re debt free. Then you can start accumulating. I think with this you will not panic even if the market isn’t going in the position direction because you know you are a free man and there is no pressure on you. There will always be opportunities to invest in bitcoin regardless.

If you are involved in debt, then you can definitely invest in Bitcoin, but you need to ensure that you have discretionary income. If you have discretionary income, then you can definitely invest. But if you cannot find discretionary income to manage your debt and necessary expenses, then you can stop investing, but if you can manage your financial situation in an organized manner at that time, then you can definitely find discretionary income.

If I am unable to explain to you, then you will understand if you read this comment by @JayJuanGee sir, I hope you will understand.

Newbies to bitcoin do not have to pay off all of their debt in order to start buying bitcoin and even investing into bitcoin as long as they are able to calculate that they have discretionary funds.

Of course, the more complicated their finances, then the more organized that they may need to be in order to make sure that they are not spending beyond their discretionary funds.

You have misinterpreted, the reason why you would take out a loan if you have discretionary income. In fact, anyone would refuse to take out a loan for Bitcoin because it would disrupt their investment to pay off the loan. So if a new investor has discretionary income, he must try to remain debt-free, meaning that even investing a small amount of money will be a timely endeavor. When a person is able to invest free from any external pressure and any economic pressure, I think it is absolutely impossible for his investment to be hindered because it doesn't matter to him to immediately acquire the main thing for investment.

In life there must always be a challenge or challenges wether we like it or not because life is not a bed of roses though some people seems not to have any challenge or trouble that is because of how they have prepared themselves to overcome challenge without making it look like there was... I'm not a fan of loan but there are time or period it can be necessary and if you have a means you can use to offset it later then going for a loan is not really a bad idea even institutions, organization and private individual do take loan so the most important thing is having a means to repay.

[BluebloodCXVI]

We cannot presume the results of any calculations, yet the calculations involve figuring out both various income sources and amounts and various expenses that include the servicing of debts.  There can be all kinds of debt and/or all kinds of levels of complication and/or lack of accounting and/or lack of organization that had been taking place that might need to be sorted.

Yet the punchline determination can still be established by the individual in terms of figuring out these matters and figuring out a path forward that may or may not allow themselves to buy bitcoin depending on the availability of discretionary funds and perhaps depending on if it might be preferable to resolve some or all of the debt prior to buying bitcoin.

There also could be some debt that has higher costs (such as higher interest rates), and many times debts do not penalize for early payments, yet sometimes guys might get themselves into egregious debt terms (or perhaps did not read the details of the debt)... I personally don't mind debt that has an interest rate of 6% or less annually, and I believe that those kinds of amounts can be manageable, yet if there are debts that are higher or even into the 12% or higher territories, then there likely would need to be some priority to pay those higher interest rate debts first, even though they might still not need to be paid off prior to starting to buy bitcoin.  Guys can figure out for themselves how many activities they are ready, willing and/or able to juggle, even though surely there might be a bit of a presumption that some guys who got themselves into bad debt may well need to work on improving their future judgement, and it could be that a remedy to attempting to improve their future judgement might involve taking away some of the current complications and/or the ongoing existence of bad judgement. 

The truth is that, money issues are rarely black and white because two people can earn the same salary and still live completely different financial realities. One person may have little to worry about, while another is dealing with debts, family responsibilities, overdue bills, or years of disorganized finances. That’s why it’s hard to give one fixed answer when it comes to buying Bitcoin or investing in general. Before anything else, someone first has to understand their own financial situation properly, not assumptions, not rough estimates  but actual numbers. They should try and figure out how much money is really coming in, how much money is going out, what debts exist, which ones are manageable and which ones are becoming a problem.

The debt aspect you mentioned too matters a lot too because some debts are far worse than others. A low-interest loan may not be the end of the world you know!, especially if the person is financially stable enough to pay back without touching their investment. But high interest debts can become a serious burden very quickly, because the interest alone keeps people stuck in the same cycle no matter how hard they work.
That said, life is not always neat and perfectly planned, people can make mistakes yeah, some people signed bad loan agreements without fully understanding them, others made emotional financial decisions during difficult periods in life, these things happens. The thing that matters more is whether the person is trying to improve their situation and make better decisions later on.
And honestly, for a person to improve their finances is not only about clearing debt, sometimes it’s also about reducing unnecessary complications, cutting down unnecessary expenses, learning patience, and developing better judgement over time. For most people, it can mean focusing heavily on debt repayment first while for others, it may mean slowly buying Bitcoin while also handling their obligations responsibly.
Bottom line is, everyone has to figure out what they can realistically handle without putting themselves under unnecessary pressure, personal finance is personal for a reason.