If that’s really the case where our income is still low then it’s hard to optimize our budget. I’ve been there myself, where I’ve already optimized my expenses to match my income, but it’s still a tough situation. The solution is to find another source of income even though it might seem difficult, that’s the only option.
I agree with you that shifting from saving to earning more money is necessary when cash flow is unstable, because it’s pointless if our income isn’t enough to meet our needs let alone save since even meeting those needs is already difficult.
I know income is very important in Bitcoin investment, but we need to be honest and ask ourselves a question. If eventually one's income increases, won't the needs still increase? Or the needs still remain the same? and one can comfortably invest in Bitcoin. But as the income increases and the needs increase, there is still the possibility that one may not end up investing in Bitcoin because you will still complain about your needs depriving you of investing in Bitcoin.
Most times, I feel it is not enough income that is depriving people of investing in Bitcoin; it is because they need to meet their needs, which is the most important thing. Funny enough, you don't need a lot of money to invest in Bitcoin; you don't need to invest much, but if you can afford to invest a little amount consistently, you have done enough for yourself. Having needs is not a reason not to invest in Bitcoin; even with needs, one can still plan to invest in Bitcoin.
Well it's true what you say, when income increases, sometimes needs also increase too, this is like a law of nature that does happen a lot, and in my opinion only a few people can survive with the same needs even though their income increases. And with what you say there is still a possibility not to invest in bitcoin because it is hindered by its increasing needs, the conclusion that can be drawn is that if you really intend to invest in bitcon then from the beginning with income that has not increased it might be possible to try even with a very small amount.
Yes, there is no other strategy that can be used than DCA, because this can be done consistently and is indeed better that way.I agree with you that as income increases, many people's expenses also increase. Also, it is a good idea to start small with a small discretionary income rather than waiting for income to increase. Because many people postpone it with the excuse of "I will start when my income increases". But later, when income increases, its expenses also increase. This delays starting again.
However, I want to say something about the part of your statement that I have bolded, because you are probably wrong. Yes, I believe DCA is a good strategy. Especially those who have a small amount of discretionary income coming in from regular or irregular cashflow, they can follow the DCA method consistently. This reduces the pressure of timing the market perfectly. But I want to tell you that DCA is not the only strategy. If someone already has a large amount of discretionary income or additional investable money, then they can buy lump sum, partial lump sum, DCA, dip buying or regular purchases with occasional additional purchases. It actually depends on that person's personal cash flow, emergency fund, risk tolerance and mental peace. Therefore, it can be said that although DCA is a good strategy, it is not the only strategy but one can also follow other strategies by understanding their own financial position.
