Buy Buy Buy or Sell Sell Sell?

[samadam007]

If we haven't made sure that our basics expenses have been taken care of or haven't been able to figure out our discretionary income from our earnings (for salary earners) then it's not realistic to rush into investing in bitcoin, it's very important for us make sure to keep our investment within a tolerable range from our discretionary income, this is because aside from buying bitcoin there are other things we do with our discretionary income such as setting up our backup funds and also for our discretionary consumptions, if we become recklessly aggressive then we might cut in on what's meant for them as well.

my belief is that most times life does not come with such guarantees or level of assurance, certainty or control. Meaning you must not be able to tick all those boxes you mentioned above correctly before you should start investing. Sometimes it also has to do with our mindset or psychology. Particularly for salary earners, you are hardly satisfied with what you earn to the point of running into debts sometimes with the mindset that you can always pay back when your salary lands. Does it mean that investing is not for those who have little money from their salary? I don’t think so. I believe that yes the salary might be meager but there is a way you can still adjust your lifestyle to fit into what you can afford and even spare some for your discretionary income then it makes sense and that’s usually very uneasy for most people. So if you ever picked interest in investing in bitcoin, the first question that should come to your mind is, how’s my lifestyle as related to my expenses, how can I adjust to be able to save for discretionary income and others, how long can I cope with that? Now a honest and thought provoking answer to those questions will really help to determine if you can invest in Bitcoin or not, particularly through the DCA approach which is the most practical approach in this manner.

You misinterpreted what @The Founding Titan said just to score cheap points, he never said that only those collecting big salary should invest or everything has to be perfect before they start. Of course, someone with small income can still invest if they manage their finances well. But the amount should come from money that is not needed for basic living expenses.

Changing your lifestyle to create more discretionary income is a good idea, but that should happen before increasing your Bitcoin allocation, not after. If someone has to sacrifice essential expenses, rely on debt or ignore the need for backup funds just to continue buying Bitcoin, then the investment has stopped being sustainable. Long term success in Bitcoin is noy just about buying; it's also about making sure you can keep buying without putting your finances under unnecessary pressure

[Mehmet69]

Yep @MarjorieZimmermanGinger is not distinguishing between basic expenses and discretionary expenses.  He is also calculating in a pretty fucking high level of discretionary funds to be able to invest 30% and put 20% into emergency funds (back up funds).  Most people cannot even come close to those levels of discretionary income.

When a guy has a lot of discretionary funds he tends to have a lot of options as compared with normal people who struggle to be able to invest/save consistently 10% of their income.  For some reason MarjorieZimmermanGinger is able to save/invest 50% of his income.  That is not typical at all.  

Since MarjorieZimmermanGinger has been registered on the forum since April 2017, he must be rich as fuck by now if he had been investing 30% of his income into bitcoin for more than 9 years, then he would have had been able to put 3 years of his income into bitcoin, which truly would be remarkable results.

I will do a quickie look at the matter.  Let's say that he earned $30k per year, and he was investing 1/3 into bitcoin since April 2017, then that would be $10k per year invested and so therefore  right about $93k invested which would have had accumulated just over 8 bitcoin, which would be a great place to be for a guy with a $30k per year income..

Right now 8 BTC could support an income of about $3,500 per month, which would be $42k per year which is right around 40% higher than his current income, which would truly be fuck you status, even though maybe he wants to accumulate a bit more?

While @MajorieZimmermanGinger’s case is impressive, it isn’t quite typical to everyone else. It’ll not be easy for just anyone to split their income into two halves using one part for necessary daily life expenses and the other for investment and savings (backups) and doing it consistently must be a high earner or some one with unusually low expenses.
And with the narrative you’ve given it makes it clearer… I’ll also like to be in my fuck you status one day. However, for the normal guy he has to plan for his basic expenses first and sort out his discretionary income to be able to remain consistent with his investments.

If we haven't made sure that our basics expenses have been taken care of or haven't been able to figure out our discretionary income from our earnings (for salary earners) then it's not realistic to rush into investing in bitcoin, it's very important for us make sure to keep our investment within a tolerable range from our discretionary income, this is because aside from buying bitcoin there are other things we do with our discretionary income such as setting up our backup funds and also for our discretionary consumptions, if we become recklessly aggressive then we might cut in on what's meant for them as well.

Before investing in Bitcoin it's important to make sure one basic expenses are fully  covered and that one have identified your discretionary income especially if one are a salary earner. Jumping into Bitcoin investment without taking care of these financial fundamental isn't realistic or sustainable method Bitcoin investment should come from an amount that one can comfortably afford to set aside from one discretionary income.

Yes, you understand. All of us who have regular income or salaried jobs, after receiving our income, pay house rent, electricity bills, monthly utilities, education, medical and any loan installments. These aspects keep us active in our daily lives, so if we start our investment without fulfilling these needs, then naturally it will create a financial gap in our basic needs and in case of emergency, we may be forced to break the investment.
Due to which, after fulfilling all the needs of life, investing from the remaining money will not harm the quality of life. And the investment should be made with such an amount that daily financial security will not be disturbed. Ensuring one's own financial responsibilities first and then investing regularly from the remaining discretionary income is the right start of investment.

[Umulala-alala]

If we haven't made sure that our basics expenses have been taken care of or haven't been able to figure out our discretionary income from our earnings (for salary earners) then it's not realistic to rush into investing in bitcoin, it's very important for us make sure to keep our investment within a tolerable range from our discretionary income, this is because aside from buying bitcoin there are other things we do with our discretionary income such as setting up our backup funds and also for our discretionary consumptions, if we become recklessly aggressive then we might cut in on what's meant for them as well.

my belief is that most times life does not come with such guarantees or level of assurance, certainty or control. Meaning you must not be able to tick all those boxes you mentioned above correctly before you should start investing. Sometimes it also has to do with our mindset or psychology. Particularly for salary earners, you are hardly satisfied with what you earn to the point of running into debts sometimes with the mindset that you can always pay back when your salary lands. Does it mean that investing is not for those who have little money from their salary? I don’t think so. I believe that yes the salary might be meager but there is a way you can still adjust your lifestyle to fit into what you can afford and even spare some for your discretionary income then it makes sense and that’s usually very uneasy for most people. So if you ever picked interest in investing in bitcoin, the first question that should come to your mind is, how’s my lifestyle as related to my expenses, how can I adjust to be able to save for discretionary income and others, how long can I cope with that? Now a honest and thought provoking answer to those questions will really help to determine if you can invest in Bitcoin or not, particularly through the DCA approach which is the most practical approach in this manner.

You misinterpreted what @The Founding Titan said just to score cheap points, he never said that only those collecting big salary should invest or everything has to be perfect before they start. Of course, someone with small income can still invest if they manage their finances well. But the amount should come from money that is not needed for basic living expenses.

Changing your lifestyle to create more discretionary income is a good idea, but that should happen before increasing your Bitcoin allocation, not after. If someone has to sacrifice essential expenses, rely on debt or ignore the need for backup funds just to continue buying Bitcoin, then the investment has stopped being sustainable. Long term success in Bitcoin is noy just about buying; it's also about making sure you can keep buying without putting your finances under unnecessary pressure

We have the dca strategy where even if you don't have money in bags that with still the little amount you were able to figure out after you have finally set others of your important need out the remains which now serve as your discretionary income can gradually be use to buy bitcoin when ever you know you have it available, if it comes weekly you buy if it also come monthly you buy, people start small and grow big in a long run consistency is the key.

[The Founding Titan]

If we haven't made sure that our basics expenses have been taken care of or haven't been able to figure out our discretionary income from our earnings (for salary earners) then it's not realistic to rush into investing in bitcoin, it's very important for us make sure to keep our investment within a tolerable range from our discretionary income, this is because aside from buying bitcoin there are other things we do with our discretionary income such as setting up our backup funds and also for our discretionary consumptions, if we become recklessly aggressive then we might cut in on what's meant for them as well.

my belief is that most times life does not come with such guarantees or level of assurance, certainty or control. Meaning you must not be able to tick all those boxes you mentioned above correctly before you should start investing. Sometimes it also has to do with our mindset or psychology. Particularly for salary earners, you are hardly satisfied with what you earn to the point of running into debts sometimes with the mindset that you can always pay back when your salary lands. Does it mean that investing is not for those who have little money from their salary? I don’t think so. I believe that yes the salary might be meager but there is a way you can still adjust your lifestyle to fit into what you can afford and even spare some for your discretionary income then it makes sense and that’s usually very uneasy for most people. So if you ever picked interest in investing in bitcoin, the first question that should come to your mind is, how’s my lifestyle as related to my expenses, how can I adjust to be able to save for discretionary income and others, how long can I cope with that? Now a honest and thought provoking answer to those questions will really help to determine if you can invest in Bitcoin or not, particularly through the DCA approach which is the most practical approach in this manner.

You misinterpreted what @The Founding Titan said just to score cheap points, he never said that only those collecting big salary should invest or everything has to be perfect before they start. Of course, someone with small income can still invest if they manage their finances well. But the amount should come from money that is not needed for basic living expenses.

Changing your lifestyle to create more discretionary income is a good idea, but that should happen before increasing your Bitcoin allocation, not after. If someone has to sacrifice essential expenses, rely on debt or ignore the need for backup funds just to continue buying Bitcoin, then the investment has stopped being sustainable. Long term success in Bitcoin is noy just about buying; it's also about making sure you can keep buying without putting your finances under unnecessary pressure

The simple truth is that without our discretionary income, buying bitcoin can't be called investing, you won't be able to hold it for long so anyone who thinks that they should start buying without figuring out their discretionary income or without at the very least having an idea of how much of the income will most likely become discretionary isn't an investor but rather a trader who is chasing after quick profit.
There is nothing wrong with wanting to increase our discretionary income and if we can cut down on our expenses to increase our discretionary income then the better for us, but we can also work to increase our income which can also help to increase our discretionary income as well, there is no need to start buying beyond what our discretionary income can handle.

[devouring-DARKNESS]

Before investing in Bitcoin it's important to make sure one basic expenses are fully  covered and that one have identified your discretionary income especially if one are a salary earner. Jumping into Bitcoin investment without taking care of these financial fundamental isn't realistic or sustainable method Bitcoin investment should come from an amount that one can comfortably afford to set aside from one discretionary income.

To know what you can consider as discretionary income for an income earner you need to know how much of your income will be needed to pay for your expenses, without this they figuring out your discretionary income becomes impossible and if you decide to invest in bitcoin before figuring out your discretionary income then you risk investing with more that your discretionary income meaning you will have to sell the bitcoin you just bought to pay for what the money you used to buy that bitcoin was initially supposed to pay for, as far as I'm concerned this isn't something someone who wants to become a bitcoin investor should be doing.

[IceLincoln]

my belief is that most times life does not come with such guarantees or level of assurance, certainty or control. Meaning you must not be able to tick all those boxes you mentioned above correctly before you should start investing. Sometimes it also has to do with our mindset or psychology. Particularly for salary earners, you are hardly satisfied with what you earn to the point of running into debts sometimes with the mindset that you can always pay back when your salary lands. Does it mean that investing is not for those who have little money from their salary? I don’t think so. I believe that yes the salary might be meager but there is a way you can still adjust your lifestyle to fit into what you can afford and even spare some for your discretionary income then it makes sense and that’s usually very uneasy for most people. So if you ever picked interest in investing in bitcoin, the first question that should come to your mind is, how’s my lifestyle as related to my expenses, how can I adjust to be able to save for discretionary income and others, how long can I cope with that? Now a honest and thought provoking answer to those questions will really help to determine if you can invest in Bitcoin or not, particularly through the DCA approach which is the most practical approach in this manner.

The fact that life gives no guarantee is why you should be better prepared. It’s not that low income earners can’t start investing but they shouldn’t create discretionary income by cutting into their basic expenses in order to buy bitcoin. The goal is to start but not to start under pressure.
If you’re a low earner and you’re able to sort your basic expenses and still have discretionary income then you’re good to go, you can start investing even if it’s small amounts using the DCA. However, if your discretionary income is too small and you want to reduce some basic expenses in order to invest, I wouldn’t advise that as it might be harmful to your investment and your sustenance. Considering you have low income and with the uncertainty of life, emergencies and inflation which can occur at any time and force you sell your bitcoin at the worse possible time or even leave you unable to meet your basic needs.
It’s not just about buying bitcoin, the most important thing is being able to stay consistent and hold through difficult periods without having your finances in shambles.

[Marvelockg]

Before investing in Bitcoin it's important to make sure one basic expenses are fully  covered and that one have identified your discretionary income especially if one are a salary earner. Jumping into Bitcoin investment without taking care of these financial fundamental isn't realistic or sustainable method Bitcoin investment should come from an amount that one can comfortably afford to set aside from one discretionary income.

To know what you can consider as discretionary income for an income earner you need to know how much of your income will be needed to pay for your expenses, without this they figuring out your discretionary income becomes impossible and if you decide to invest in bitcoin before figuring out your discretionary income then you risk investing with more that your discretionary income meaning you will have to sell the bitcoin you just bought to pay for what the money you used to buy that bitcoin was initially supposed to pay for, as far as I'm concerned this isn't something someone who wants to become a bitcoin investor should be doing.

If you are a salary earner, identifying how much of your earning can go into bitcoin is not too difficult to ascertain and to an extent, it is not even advisable to invest if you are not earning to the point that taking a particular percentage of your income can give you enough leverage to leave things the way they are even if you are going to remain invested for a period of four to ten years as you may want to.

Investing involves a sense of intentionality and with that, it means that as you earn, you can just decide that 20% of your income is going into investing for the future and that the remaining 80% will be properly allocated to other areas in the proportion that suit your financial needs. you want to get a result? then it is necessary to priorities your investment and don't just wait till you have sort out al your needs and just invest with the tiny fraction of your earnings that is left. Human wants they say are insatiable and so, you have to fix bitcoin investment as not just wants but part of your needs and so, taking out a percentage from your earning will make your reach your investment goal fast enough.

[Proty]

If we haven't made sure that our basics expenses have been taken care of or haven't been able to figure out our discretionary income from our earnings (for salary earners) then it's not realistic to rush into investing in bitcoin, it's very important for us make sure to keep our investment within a tolerable range from our discretionary income, this is because aside from buying bitcoin there are other things we do with our discretionary income such as setting up our backup funds and also for our discretionary consumptions, if we become recklessly aggressive then we might cut in on what's meant for them as well.

my belief is that most times life does not come with such guarantees or level of assurance, certainty or control. Meaning you must not be able to tick all those boxes you mentioned above correctly before you should start investing. Sometimes it also has to do with our mindset or psychology. Particularly for salary earners, you are hardly satisfied with what you earn to the point of running into debts sometimes with the mindset that you can always pay back when your salary lands. Does it mean that investing is not for those who have little money from their salary? I don’t think so. I believe that yes the salary might be meager but there is a way you can still adjust your lifestyle to fit into what you can afford and even spare some for your discretionary income then it makes sense and that’s usually very uneasy for most people. So if you ever picked interest in investing in bitcoin, the first question that should come to your mind is, how’s my lifestyle as related to my expenses, how can I adjust to be able to save for discretionary income and others, how long can I cope with that? Now a honest and thought provoking answer to those questions will really help to determine if you can invest in Bitcoin or not, particularly through the DCA approach which is the most practical approach in this manner.

You misinterpreted what @The Founding Titan said just to score cheap points, he never said that only those collecting big salary should invest or everything has to be perfect before they start. Of course, someone with small income can still invest if they manage their finances well. But the amount should come from money that is not needed for basic living expenses.

Changing your lifestyle to create more discretionary income is a good idea, but that should happen before increasing your Bitcoin allocation, not after. If someone has to sacrifice essential expenses, rely on debt or ignore the need for backup funds just to continue buying Bitcoin, then the investment has stopped being sustainable. Long term success in Bitcoin is noy just about buying; it's also about making sure you can keep buying without putting your finances under unnecessary pressure

The simple truth is that without our discretionary income, buying bitcoin can't be called investing, you won't be able to hold it for long so anyone who thinks that they should start buying without figuring out their discretionary income or without at the very least having an idea of how much of the income will most likely become discretionary isn't an investor but rather a trader who is chasing after quick profit.
There is nothing wrong with wanting to increase our discretionary income and if we can cut down on our expenses to increase our discretionary income then the better for us, but we can also work to increase our income which can also help to increase our discretionary income as well, there is no need to start buying beyond what our discretionary income can handle.

Investing with discretionary income is one thing that gives investors the courage to be able to hold their bitcoin whenever there is volatility. If a person uses money that is meant for there expenses, such as house rent, school fees and other important needs, they will become restless whenever there is a decline in the price of bitcoin and this will make them not to be able to hold bitcoin for a long term.
There is need for someone that is investing in bitcoin to be able to manage their finances. cutting down some unimportant expenses will leads to increased in discretionary income. Aside cutting down cost another way to increase discretionary income is to have different sources of income, getting an extra job etc. we can DCA consistently, if there is more discretionary income available to do so.
Bitcoin rewards only those that are patient and consistent with there bitcoin accumulation. This is only possible if we invest with our discretionary income and have more of it. Investing with money that is meant for essential needs will only make us to be always watching the market.

[Abelly]

In the case of Bitcoin investment, an investor should never be so confident that he will buy Bitcoin with the money he needs. Bitcoin will never bring you the profit you expect in the short term, so you must be careful when investing. When the invested money is beyond your capacity, then even a slight fluctuation in the market will cause an investor to get very stressed, where he can sell his investment at a loss. Therefore, it is very important to have a clear plan for your income and expenditure before starting investment, you should invest after meeting all your basic needs and finally, you cannot ignore the emergency fund for long-term security.

It is highly recommended to invest using money that we can afford to spend or we can afford the loss, I myself invest money by assuming the money is lost. In addition the amount invested is also good according to our own ability, because it is not advisable to invest in an amount that is beyond our ability so that it interferes with basic needs that should be prioritized.

I agree with what you say, in the long run we should not ignore emergency funds that have an important role, in addition to that investing is done when the basic needs are all met because using discretionary funds is the best option to invest.

What you mentioned may sound safe to hear, but it is not the full definition of discretionary income. Because just mentally accepting the loss may not be enough when determining discretionary income. Rather, the money that is left after meeting rent, medical care, food, family responsibilities, basic expenses and near-term necessary expenses and that cannot be touched for a long time is more suitable for investment or that is discretionary income.

Someone may feel emotionally that he is ready to lose a certain amount of money, but after 2-3 months, if he needs that money for medical care, house rent or a family emergency, he may be forced to sell.

[Rhow]

Once you’ve figured your discretionary income out there’s no need waiting to know all about bitcoin before getting started.

It's not matter of your discretionary income be available and it warrant you to venture into unacceptable or unnecessary investment, during investment of any kind, you have to scrutinize the investment to know the advantages and disadvantages or the risks that involve to the investment...That's why a real investors make a research properly before they embark in any investment plan's..If we invest because we have a discretionary income, that means investors will be investing in any they see that's available to invest...in summary, for safety measures, you have to know what you're investing for, despite the risks that's involve...

Unlike other investment ventures having discretionary funds is already enough tool to get started much more when a newbie is going to be using DCA strategy, strategy like buy the dip will definitely require more therefore making it not newbie friendly.

Regardless of the strategy you use, DCA or buy the dip, the importance of discretionary income does not decrease. No strategy can fix our poor cash management. According to you, you need to understand more about discretionary funds when buying buy the dip compared to DCA, right?

Regardless of the strategy you follow, you need to consider your risk tolerance, discretionary income, cash flow, and necessary expenses. In this case, we cannot say specifically that following that strategy requires more understanding. The problem is that some people actually try to buy dip with their emergency money. Because they probably think that after a few days the price of Bitcoin will be as per their expectations. But in reality it may decrease further. When an emergency need arises while it is below the purchase price, they may be forced to sell.

[reagansimms]

While @MajorieZimmermanGinger’s case is impressive, it isn’t quite typical to everyone else. It’ll not be easy for just anyone to split their income into two halves using one part for necessary daily life expenses and the other for investment and savings (backups) and doing it consistently must be a high earner or some one with unusually low expenses.
And with the narrative you’ve given it makes it clearer… I’ll also like to be in my fuck you status one day. However, for the normal guy he has to plan for his basic expenses first and sort out his discretionary income to be able to remain consistent with his investments.

If we haven't made sure that our basics expenses have been taken care of or haven't been able to figure out our discretionary income from our earnings (for salary earners) then it's not realistic to rush into investing in bitcoin, it's very important for us make sure to keep our investment within a tolerable range from our discretionary income, this is because aside from buying bitcoin there are other things we do with our discretionary income such as setting up our backup funds and also for our discretionary consumptions, if we become recklessly aggressive then we might cut in on what's meant for them as well.

Rushing to invest does not mean you have to buy large amounts at once. You can still invest small amounts while sorting out your financial problems. If the investment portion you set is in accordance with your financial strength, investing and solving financial problems can go hand in hand. If you are an employee with a fixed income, you can still do DCA with the smallest amount of money left after deducting other basic expenses. The goal is to build investment habits and make it easier to increase the DCA amount when discretionary income increases.

It's okay to invest aggressively, but you have to be smart by dividing your investment budget with other needs because the winner is not the fastest, but the most consistent. I strongly disagree with being reckless in investing, for example, putting 100% of your discretionary income in Bitcoin because the investment has the potential to stall when an emergency arises. The goal of investing is not to buy a large amount this month, but to be able to consistently buy every month for years.

[Queen uloma]

If we haven't made sure that our basics expenses have been taken care of or haven't been able to figure out our discretionary income from our earnings (for salary earners) then it's not realistic to rush into investing in bitcoin, it's very important for us make sure to keep our investment within a tolerable range from our discretionary income, this is because aside from buying bitcoin there are other things we do with our discretionary income such as setting up our backup funds and also for our discretionary consumptions, if we become recklessly aggressive then we might cut in on what's meant for them as well.

my belief is that most times life does not come with such guarantees or level of assurance, certainty or control. Meaning you must not be able to tick all those boxes you mentioned above correctly before you should start investing. Sometimes it also has to do with our mindset or psychology. Particularly for salary earners, you are hardly satisfied with what you earn to the point of running into debts sometimes with the mindset that you can always pay back when your salary lands. Does it mean that investing is not for those who have little money from their salary? I don’t think so. I believe that yes the salary might be meager but there is a way you can still adjust your lifestyle to fit into what you can afford and even spare some for your discretionary income then it makes sense and that’s usually very uneasy for most people. So if you ever picked interest in investing in bitcoin, the first question that should come to your mind is, how’s my lifestyle as related to my expenses, how can I adjust to be able to save for discretionary income and others, how long can I cope with that? Now a honest and thought provoking answer to those questions will really help to determine if you can invest in Bitcoin or not, particularly through the DCA approach which is the most practical approach in this manner.

You misinterpreted what @The Founding Titan said just to score cheap points, he never said that only those collecting big salary should invest or everything has to be perfect before they start. Of course, someone with small income can still invest if they manage their finances well. But the amount should come from money that is not needed for basic living expenses.

Changing your lifestyle to create more discretionary income is a good idea, but that should happen before increasing your Bitcoin allocation, not after. If someone has to sacrifice essential expenses, rely on debt or ignore the need for backup funds just to continue buying Bitcoin, then the investment has stopped being sustainable. Long term success in Bitcoin is noy just about buying; it's also about making sure you can keep buying without putting your finances under unnecessary pressure

The simple truth is that without our discretionary income, buying bitcoin can't be called investing, you won't be able to hold it for long so anyone who thinks that they should start buying without figuring out their discretionary income or without at the very least having an idea of how much of the income will most likely become discretionary isn't an investor but rather a trader who is chasing after quick profit.
There is nothing wrong with wanting to increase our discretionary income and if we can cut down on our expenses to increase our discretionary income then the better for us, but we can also work to increase our income which can also help to increase our discretionary income as well, there is no need to start buying beyond what our discretionary income can handle.

Investing with discretionary income is one thing that gives investors the courage to be able to hold their bitcoin whenever there is volatility. If a person uses money that is meant for there expenses, such as house rent, school fees and other important needs, they will become restless whenever there is a decline in the price of bitcoin and this will make them not to be able to hold bitcoin for a long term.
There is need for someone that is investing in bitcoin to be able to manage their finances. cutting down some unimportant expenses will leads to increased in discretionary income. Aside cutting down cost another way to increase discretionary income is to have different sources of income, getting an extra job etc. we can DCA consistently, if there is more discretionary income available to do so.
Bitcoin rewards only those that are patient and consistent with there bitcoin accumulation. This is only possible if we invest with our discretionary income and have more of it. Investing with money that is meant for essential needs will only make us to be always watching the market.

You’re very correct, your discretionary income is suppose to the what  you can use to buy bitcoin, it’s not money meant for rent, school fees or other important bills. If someone uses important money to invest in bitcoin every small price drop will make the person panic because he will think his money will reduce before he uses it. One good way to increase your discretionary income is to reduce unnecessary spending. Most times we spend money on things we can do without, and if we cut those expenses, we can use the remaining money to buy bitcoin consistently. Another option is to have an extra source of income, even if it’s a side hustle, another job, or freelance work. The more the discretionary income the more easier it will be to continue buying bitcoin without it affecting your daily responsibilities. Bitcoin doesn’t reward people who rush or panic. It reward people who has patience, discipline and consistency. Lastly, financial management is one of the most important skills for every bitcoin investor. When you balance  your expenses, learn how to save properly and invest in longterm, you will have a good chance to enjoy the benefits of bitcoin in the future.

[GIF-JOBS]

Investing with discretionary income is one thing that gives investors the courage to be able to hold their bitcoin whenever there is volatility. If a person uses money that is meant for there expenses, such as house rent, school fees and other important needs, they will become restless whenever there is a decline in the price of bitcoin and this will make them not to be able to hold bitcoin for a long term.
There is need for someone that is investing in bitcoin to be able to manage their finances. cutting down some unimportant expenses will leads to increased in discretionary income. Aside cutting down cost another way to increase discretionary income is to have different sources of income, getting an extra job etc. we can DCA consistently, if there is more discretionary income available to do so.
Bitcoin rewards only those that are patient and consistent with there bitcoin accumulation. This is only possible if we invest with our discretionary income and have more of it. Investing with money that is meant for essential needs will only make us to be always watching the market.

Investing from discretionary income keeps one mentally free from market volatility. Because this money is not earmarked for daily essential expenses by the investor. Therefore, if an investor invests from the necessary money, his mental frustration increases when there is a decline and he may have to sell at risk due to the need for cash. And due to selling at the wrong time, the investor can suffer big losses despite having a long-term investment. Patience and consistency in Bitcoin have historically brought good results to investors, but we are not sure that this result will continue in the future. Therefore, every investor should ask himself these three questions: what money he is buying with, how long he can live normally without that money, and whether he can maintain it as planned in a market decline.