Making wise use of your crypto finance

[Bright0515]

The crypto currencies today are now the source of wealth to somany young people. It Is very pleasing this days to see young people making money at their young age, we can see that their is alot of changes in the society since young people start making money for themselves online.

But the question to be answered here is, Do everyone who earns from this crypto use their finance purposefully.
Not everyone at their young age have the mindset to plan for their future many young people have the mindset that their is still much time for them to do whatever they wish but that is not a wise idea you need to invest for your future.

Someone gave me a parable saying, Don't live in comfort in your youthful age and suffer when you are old rather invest and suffer in your youthful age to prepare for your old age. Young people should not only go after enjoyment and lavishing but also invest 80% of your outcome and you won't regret it.

[Makus]

I enjoyed reading this post until the part you mentioned investing upto 80% of you outcome. These days with enough responsibility I don't think Investing 80% would be a good idea. Sue to the current increase in dollar inflation is hitting hard and the only way to survive is to reduce excessive spending and buy the needs while you ignore lots of wants, and even with that knowledge, you find out that 20% is very small to meet up those needs. So I advise those who are willing to invest to 10-20% of their income first for holding, and if they feel very  comfortable with that, they could increase it until they feel fulfilled.

[Samlucky O]

I enjoyed reading this post until the part you mentioned investing upto 80% of you outcome. These days with enough responsibility I don't think Investing 80% would be a good idea. Sue to the current increase in dollar inflation is hitting hard and the only way to survive is to reduce excessive spending and buy the needs while you ignore lots of wants, and even with that knowledge, you find out that 20% is very small to meet up those needs. So I advise those who are willing to invest to 10-20% of their income first for holding, and if they feel very  comfortable with that, they could increase it until they feel fulfilled.

Indeed you have spoken well that was what I was about to say . In as much as bitcoin investment is concerned, there is no need investing with pressure as if you where being forced. Investing should be don in a manner that you would invest and you wouldn't even notice that you aslre investing because you didn't invest out of point.  We have 2 type of investment.

1. Wise investment: the wise investment is when you invest on planing which might never affect your investment or DCA journey of bitcoin.

2. Lame or Foolish investment: sorry if I use the word foolish, but I see it as the perfect word for this explanation. Because when someone invest the amount that would affect his/her investment strategy it is no longer a wise investment plan. I think whenever we talk about Investment, we should think critically on how to invest according to how we can accumulate Bitcoin, take care of responsibility and also have some reserved fund which will not allow us to spend it due to minimal problems. emagin investing %80 of your monthly income into Bitcoin, how would you be able to cope with %20 for family and reserved? So if you check it, its not a wise decision. Like I said before please to no offence. if I call it a foolish investment not directly saying to you but just an explanation.

[Obim34]

I enjoyed reading this post until the part you mentioned investing upto 80% of you outcome. These days with enough responsibility I don't think Investing 80% would be a good idea. Sue to the current increase in dollar inflation is hitting hard and the only way to survive is to reduce excessive spending and buy the needs while you ignore lots of wants, and even with that knowledge, you find out that 20% is very small to meet up those needs. So I advise those who are willing to invest to 10-20% of their income first for holding, and if they feel very  comfortable with that, they could increase it until they feel fulfilled.

Haha... Saving 80% , OP thinks it is that easy to just put in such percentage. Most youths are even having more responsibility now than their old age due to the current inflation and everyone is trying as much to stabilize in their wants and needs. Before resolving some issues, keeping that for household expenses and setting aside emergency funds, little percentage of the money will be left. So, it is best we consider investing what we can be able to do without and not going back to alter our investment portfolio .

[Makus]

Haha... Saving 80% , OP thinks it is that easy to just put in such percentage. Most youths are even having more responsibility now than their old age due to the current inflation and everyone is trying as much to stabilize in their wants and needs. Before resolving some issues, keeping that for household expenses and setting aside emergency funds, little percentage of the money will be left. So, it is best we consider investing what we can be able to do without and not going back to alter our investment portfolio .

Sure, that's what makes us investors, being able to think critically before making investment decisions. That is, if you are willing to make profits and not like the second example Samlucky gave. A foolish investment, investing without a concrete plan, those who tend to fall under this category usually go to and fro without fulfilling any benefiting investment return. If you make 80% investment off your income without having an emergency fund, you will definitely go back to sell some of those coins. And I major characteristic  of an investor is discipline. Altering that investment might be the last of it, because indiscipline has a way of rebranding our thinking to keep going back to your investment should in case any issues raises.

[Barikui1]

All what the op said is right, except the keeping of 80% of your profit for investment, which I think to me is unrealistic due to the current economy situation in the country now. If you are talking of like 50% that would have been reasonable, because the way price of things are really cost nowadays, and how our naira has lost value,  you will be forced to go am tamper with the money you kept for investment purpose, if you don't have an emergency fund just as @makus has already said.
In all this, I just think that we should try to utilize our finances properly now, and prepare for the rainy days, because I believe that nothing last for ever, it's only when we prepare for tomorrow that we can scale through it without troubles.

[Promocodeudo]

The crypto currencies today are now the source of wealth to somany young people. It Is very pleasing this days to see young people making money at their young age, we can see that their is alot of changes in the society since young people start making money for themselves online.

But the question to be answered here is, Do everyone who earns from this crypto use their finance purposefully.
Not everyone at their young age have the mindset to plan for their future many young people have the mindset that their is still much time for them to do whatever they wish but that is not a wise idea you need to invest for your future.

Someone gave me a parable saying, Don't live in comfort in your youthful age and suffer when you are old rather invest and suffer in your youthful age to prepare for your old age. Young people should not only go after enjoyment and lavishing but also invest 80% of your outcome and you won't regret it.

The fact that young and old people are making money through cryptocurrency is no longer new but it is a welcome development, the world is evolving and we are shifting from the dependency of people on government and private company jobs, but let's be realistic here, the judicious use of money made from crypto is an individual decision, it takes high level of discipline for youths to control and spend lesser than his income more especially when he or she knows that he is making this money on weekly bases, but the truth is that reinvesting a high percentage of the money made from crypto is better because if any ugly situation occurs you can have something to fall back to.

[Marykeller]

Crypto investment is changing the world finance system, and I like how the youths are utilizing it to their advantage to create wealth for themselves and save up for their future.

It is a clear fact that most of the young people who earn in crypto have mismanaged funds, not investing for their future. They only have the thought of the present to enjoy themselves, forgetting that old age would come when they don't have the strength for a hustling spirit to cater for their families.

It will be thoughtful of us, to begin or continue our future investment in bitcoin, not in altcoin. Applying a DCA strategy is all good. We should try as much to invest the little we have and not to exceed up to 80% of our income as you have advised

[DaNNy001]

Someone gave me a parable saying, Don't live in comfort in your youthful age and suffer when you are old rather invest and suffer in your youthful age to prepare for your old age. Young people should not only go after enjoyment and lavishing but also invest 80% of your outcome and you won't regret it.

Many people don't know this and that's why many failed to be at their prime for long, there's one thing to be rich and another thing is to maintain those riches. Many youth making money today don't even see the old age days ahead, well you won't blame them as money can be very intoxicating and sometimes tend to Influence their thoughts and make them think shallow till everything goes down the drain.

[Y3shot]

It is always good to spend money in the right way, for things that have value. Every money that comes into the hands of a man it is good to make a good plan on how to invest it well because sometimes the opportunity you have in life may not last forever.  It is good to invest money for the future,  because by then the money may not becoming just like the way it is coming now. Planning how money is being spent in ones life is very important.

[Miles2006]

You're right, investing is good especially bitcoin investment but now few people will not know what's the benefit or rather they'll lavish the money, spending of money no be anybody business for this forum but some certain things wey people dey do need caution and it should not be taken for granted.
After earning from crypto, investment dey wey go still bring profit like real estate or something else.
Financial management dey very important for our society and sometimes we hear stories like money no dey and the economy hard but make we check well where our money dey go and take correction, you do well as you carry this one come here cause no one is above mistake.

[Wiwo]

When I see some older folks suffering today despite doing well during their youthful age it baffles me a lot and this makes me to think and accept the saying that says,  he who fails to plan,  plan to fail.

This adage is very important because at a young age when you have all the energy to do whatever you think is right and necessary to increase your financial life,  instead of saving that money,  some youths will rather spend that money on things that do not give both present and future values,  so is very important to clear up a lot of things before diving I to this subject of how best to make use of the opportunity that comes along the line while growing up as a youth.

Sometimes,  it is not good enough to invest alone,  but also spending the time to get the necessary financial knowledge is very important to know the right investments and assets to diversify into.

[Mate2237]

Yes many people are misusing the opportunity to do another things that do not profit them in any way. Many use their crypto earning to find women and Hook Up and some to drink in parties with friends and only few are using it for the purposeful which is meant for it. Yes and that is why even the Holy Bible says, "there is everytime for everything, time to plan squandered money and time to plan to spend money.

Wow!! This is nice, yes living a comfortable zone in your youthful age might affect your life in the old age. And that is why everyone should prepare yourself in the youthful days so that you will enjoy the labour of the youth.

[Adams0001]

All what the op said is right, except the keeping of 80% of your profit for investment, which I think to me is unrealistic due to the current economy situation in the country now. If you are talking of like 50% that would have been reasonable, because the way price of things are really cost nowadays, and how our naira has lost value,  you will be forced to go am tamper with the money you kept for investment purpose, if you don't have an emergency fund just as @makus has already said.
In all this, I just think that we should try to utilize our finances properly now, and prepare for the rainy days, because I believe that nothing last for ever, it's only when we prepare for tomorrow that we can scale through it without troubles.

Exactly, op is correct, but I disagree that investing 80% of your income is not advisable because any investment is a risk, so you can't just invest 80% of your profits on investment, you need to start with small like 30% or 50% to see how the investment goes before you can decide to increase your capital on the investment, because some times when you just invest huge money, you can lose money and make huge profit because crypto is volatile, but the best thing to do is every month you receive your salary you can be putting even 20% of your income on investment,  I believe that one will be good since he will reduce your risk and you will most likely be profitable, even if it is small. Dollars are increasing and you must minimize your finances since you cannot simply spend them and you must plan ahead of time before making decisions.

[Su-asa]

When invest 80% from your salary there's nothing remaining as the remaining 20 can not be used to clear monthly expenses or feeding, even if you are earning 10 million naira a month and you are investing 8 million, the remaining 2 million will not reach you because the country is getting harder day after day and you earning 10 million is not a small guy, you also have to feel comfortable because people will always look you as a big man.
When you start saving 80% from your salary the only way to survive that is when you are dead as the remaining money can not afford the necessary things that you can use through out the days before another salary can come in.
When you want to make a decision, you better make the type of decision that will help you and not the type that you might regret, just like you saying "to use 80%" which is absolutely wrong.
When you keep so in practice, your decision will always affect you, if it doesn't affect your families, it will affect your health as you can not be able to afford a day squeal meals.
When you invest you better invest a decent amount that can help you in future, when you don't have a good plans and you are accumulating bitcoin, that Bitcoin will end up in a wrong way as you can not hold longer, because you can not have money for emergencies, meanwhile you are also investing with money that are supposed to be keep for emergencies.

[Zanab247]

Don't invest what you can't afford to lose in cryptocurrency because, investing your 80% on cryptocurrency is a big risk but if you can invest and hodl to endure till the bull run will come to remain stable, I think you will have something good to enjoy when you grow old in the community. 

If you can look round in the community you will discover that youths are the ones dominating in this forum because, they know what someone can achieve when he or she use big money to invest in cryptocurrency and hodl it like 10 years, but I know is not easy to hodl long but there is a massive reward behind for those that can hodl like 10 or above to see the wonders of cryptocurrency investment.

[Uhwuchukwu53]

The crypto currencies today are now the source of wealth to somany young people. It Is very pleasing this days to see young people making money at their young age, we can see that their is alot of changes in the society since young people start making money for themselves online.

But the question to be answered here is, Do everyone who earns from this crypto use their finance purposefully.
Not everyone at their young age have the mindset to plan for their future many young people have the mindset that their is still much time for them to do whatever they wish but that is not a wise idea you need to invest for your future.

Someone gave me a parable saying, Don't live in comfort in your youthful age and suffer when you are old rather invest and suffer in your youthful age to prepare for your old age. Young people should not only go after enjoyment and lavishing but also invest 80% of your outcome and you won't regret it.

Don't invest what you can't afford to lose in cryptocurrency because, investing your 80% on cryptocurrency is a big risk but if you can invest and hodl to endure till the bull run will come to remain stable, I think you will have something good to enjoy when you grow old in the community.  


Op you have a very good write up allot are into this post, this has Bitcoin have position many youth to see chance in the means of hardship. ust as zanab247 stated here there is a saying that one should not bit what it can't chew, what this means is that don't start what you can't finish, any risk that exceeded 50-50 is death sentence now matter your source of income.

[Asiska02]

There is no need to have an actual percentage to be invested from the outcome of the profit from bitcoin investment. You can only invest what you can afford and have the rest used for your personal use. I am not in support of lavish lifestyle and those that engage in such should have a place to fall back to whenever they go low on funds. This life is not forever and you can’t be saving for your old age while living a miserable young age. I would advise you learn how to spend moderately and also have a means of more income, you are not guaranteed to live till you’re old and keeping the money for that time will be wastage of resources and years of hard work not enjoyed if you don’t live till then.

[CryptopreneurBrainboss]

Someone gave me a parable saying, Don't live in comfort in your youthful age and suffer when you are old rather invest and suffer in your youthful age to prepare for your old age. Young people should not only go after enjoyment and lavishing but also invest 80% of your outcome and you won't regret it.

You can invest all your money and still go broke at your old age because you invested in the wrong things. Life no supposed hard, you no suppose suffer at your youth age to enjoy at your old ages. You can enjoy now but at a minimum, just live a comfortable life wey be say you no dey over spend anyhow because you dey invest the excess for better businesses like Bitcoin. Live in a comfortable area to avoid some security problem wey a good environment go help you avoid. Arrange yourself and start up a family at a young age so you go get alot of time to grow with your family.

Secure as many Bitcoin as you fit because na him get the most guarantee for this market wey we dey so, other investments na just gamble wey be say if e work for you, you thank God and use the profits to buy more Bitcoin and investing into other businesses like owning landed properties especially land wey you fit sell anytime sapa hold you tight to use see front. Avoid clubbing or do it in a minimum wey you no go dey spend money wey you supposed dey invest for another man business wey no dey give you any benefits.

Denied yourself some pleasure but no deny yourself a good life, you see that money wey you dey do like you dey save for future, you fit no see that future but we don't pray for that. As you dey invest, dey alright too.

[Bitco55]

I enjoyed reading this post until the part you mentioned investing upto 80% of you outcome. These days with enough responsibility I don't think Investing 80% would be a good idea. Sue to the current increase in dollar inflation is hitting hard and the only way to survive is to reduce excessive spending and buy the needs while you ignore lots of wants, and even with that knowledge, you find out that 20% is very small to meet up those needs. So I advise those who are willing to invest to 10-20% of their income first for holding, and if they feel very  comfortable with that, they could increase it until they feel fulfilled.

Honestly, I understand what the OP is trying to say. Most youths and young people don't have much or any responsibility yet apart from taking care of themselves, and he wasn't talking about married people or just anybody, he specifically said young people.

It's very easy for young people to save over 80% of their income. Although of course, it wouldn't apply to everybody. A person earning over 100k monthly or in whatever period can easily save 80k and make use of simplification.

Simplification is a phenomenon that explains reducing your expenses to the barest minimum. This would work for everyone but not everyone earns over 100k.

So, dividing your income into different sections according to what and how you earn would be better and more advisable for everyone in different age groups.