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Author Topic: Emergency funds is vital.  (Read 233 times)
Churchillvv
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February 24, 2024, 11:56:13 PM
 #21

For sure emergency funds is one of the major factors to consider before venturing into any long term investment, it's mostly the most important factor that determines how much one could hold bitcoin or any other asset invested on.

if one lacks a considerable source of income at a point the emergency fund could hold one together for as long as he or she needs to get a job. here in Nigeria most of us usually get side hustle as our emergency funds or reserve fund to facilitate our daily needs and every unforseen circumstances.


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February 25, 2024, 02:19:37 AM
 #22

Whether you are investing or not,. An emergency fund should be a criteria for a secure life. No one knows what will happen tomorrow or when life events may choose to happen. When times like this come, your only recourse is your emergency funds. Unless you want to go around begging for money when such things happen,. Insurance is one way to secure emergencies. Having an insurance is just the same thing as having an emergency fund.

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February 25, 2024, 03:44:22 AM
 #23

Emergency fund is the most important thing an investor should bear in mind in what ever thing he does because without emergency fund it will definitely affect your bitcoin accumulation journey. Those who don't take it emergency fund serious always find it difficult to achieve their goal.

At first it is alway difficult to accumulate btc through DCA and also setting aside emergency fund but as time goes on,  an investor who takes btc investment seriously will definitely know the power of emergency fund. Because it is the key to long term investment which without it an investor might never achieved his goal.

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liasbaa
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February 25, 2024, 04:36:13 AM
Last edit: March 02, 2024, 02:06:38 AM by liasbaa
 #24

Investing in Bitcoin fit give big returns, but e dey important make you dey wise with your money by also setting aside emergency funds. Emergency funds dey like backup wey fit help you cover unexpected expenses like medical wahala, car repairs, or if you lose your job.
Putting plenty money into assets wey fit shake anyhow like Bitcoin get risk. E good make you spread your investments across different things like stocks, bonds, properties, and cryptocurrency like Bitcoin to reduce risk and make better long-term gains. E good to put some money for Bitcoin as part of your overall investment plan, but make you balance am with more stable investments.

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February 25, 2024, 05:14:33 AM
 #25

As an investor, if you consider making provision for emergency funds, you see how smooth your accumulation journey would go especially if you're using the DCA strategy for accumulating more Bitcoin. Any emergency that pops up from no where you know you have the finance to settle it without disturbing your investment. One important thing we must understand is that, discipline is a characteristic that we must not joke with. The moment you start running back to your investment due to emergency issues, you're just admitting that your investment in is trouble.

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Benedictare
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February 25, 2024, 04:05:40 PM
 #26

Emergency funds are money /spare cash kept aside from your income within 2-6 months for the unknown day to day activities ,it is important to us because during the time of uncertainty you fall back to it ,i will say,it is a personal insurance that prevents you from owing debts , when the need arises for you to use it, it's always there because there are alot of unforeseen and unexpected expenses that one would need to incure.

 Emergency funds helps you be at alart at all times in terms of your expenses. In Bitcoin,it helps you invest more when not spent for emergencies it will make you hodl it for a long-term ,as the money keeps increasing. It helps you avoid high cost of loan, that's having financial control .
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