Does the DCA strategy inspire newbies to invest?

[Sticky Bomb]

That's correct. I agree, newbies and those in the industry for years are doing the DCA method, mostly on Bitcoin and other top alts only. Even millionaires do DCA. So, DCA is not only for newbies or low-income earners but for all different kinds of investors. But of course, don't expect too much or expect a high return if your budget is low, especially if you are doing DCA on Bitcoin. Since your investment is low, most probably the ROI is also low. But if ever, don't think DCA is not worth it. Don't get discouraged. A profit is still a profit. It's better than nothing.

What you've said is right, but someone with a low budget shouldn't be discouraged however be determined to hold longer as well as working hard enough to generate more discretionary income, i don't expect that a low income earner should just relax for years without trying to get other income source and increase the discretionary funds.

Increasing discretionary income can come from managing cashflow better to reduce expenses, what some people need to produce more discretionary income is to stop being careless by spending on what is irrelevant, if guys can be more meticulous with managing funds, they'll be amazed at the funds they can save from their expenses budget which they can put back into their discretionary income.

Anyways Bitcoin investment is not a competition and hopefully a low income earner can get good returns in future and change his or her financial status.

Bitcoin investment is a personal journey, trying to measure up with others can be counterproductive since you don't have same income size or expenses with the person and you may find yourself struggling to sustain your investment journey which defeats the motive of using DCA strategy. DCA strategy helps to eliminate financial pressure and stress while you buy and hold bitcoin. If you find yourself struggling to sustain your investment, then you are DCAing wrongly, you should DCA from a place of comfort and not competition.

[Fadhil Pahlawadi]

Increasing discretionary income can come from managing cashflow better to reduce expenses, what some people need to produce more discretionary income is to stop being careless by spending on what is irrelevant, if guys can be more meticulous with managing funds, they'll be amazed at the funds they can save from their expenses budget which they can put back into their discretionary income.

If we don't overly follow a lifestyle, our expenses will be more stable, and we'll only use them for areas that benefit our personal needs. This isn't simply a matter of restricting ourselves from our lifestyle, but rather because our income is quite limited. Unless we act recklessly, we know we have ample income from various sources. This doesn't mean we can't afford to indulge in a lifestyle like buying luxury and branded clothes. If we suddenly need something, we're prepared to cover it, as we have the ability to cover unexpected needs.

[PhilosopherKing]

The quest to make profit is what distract most newbie in Bitcoin investment. I know the reason, I mean the primary reason everyone is investing in Bitcoin is to make profit and also to stay away from inflation but thinking about profit or putting it in forefront is not good for a newbie because this will make them make some unnecessary decisions and mistake that they should not. What a newbie should focus on is how to grow their portfolio and hold for a long period of time.

You don't know what everyone is thinking or what they want, so just speak for yourself bruh instead of acting like you know what everyone want. Profit and escaping inflation is just a tip of the iceberg because there can be a lots of other reason why person can choose to go into bitcoin. If you think bitcoin is only because of profit and avoiding inflation then does that mean that persons who is rich and stays in a country where there is little to zero inflation don't need bitcoin huh? Because this persons got their wealth already and inflation is not much of a problem for them.

Bitcoin is for everyone IMO, whether you are a black or white  or yellow or rich or poor or fat or slim, or whether you are for a developed or undeveloped country, they all have a chance at bitcoin. Apart from those you mentioned, bitcoin can give person financial freedom, be used for international payment and transaction, it makes you not to rely on any authority, some person can even want in on bitcoin because of the 21 supply cap, lots and lots of things to gain in bitcoin.

[Obulis]

The essence of the DCA type of investment is for small income earners or those with small discretionary, it gives them the ability to invest the little amount they have with zero stress because they can decide to increase the amount they invest with at any given time when their earnings is increased. The only thing a small income earn needs is to be consistent with his DCA the amount he is using can be increased over time but they have to have a stable income so they do not have to invest this week and expect to invest in the next 5 months the amount they will accumulate will be very little.

The DCA strategy works for all classes of people, it is effective for both rich and poor. There are many who do excessive research on the market to invest despite having enough money, but due to such wastage of time, they are missing out on current opportunities. However, investing through the DCA strategy is better because it will help you maintain continuity without worrying too much about the market. It is important to have a long-term plan for investment and financial transparency is also important. To invest without any excuses, it is important to start from the present and complete it in the long term as the main goal.

In as much as DCAing encourages low income earners to invest in Bitcoin, DCA strategy serve a more general benefits to all users rich or poor. DCA strategy removes the stress associated with timing the market before buying, it develops financial management or discipline in the investor and removes totally the emotions that goes with buying of Bitcoin and provides automatic opportunity to buy the dip without timing or waiting for it.

[Loyang]

Increasing discretionary income can come from managing cashflow better to reduce expenses, what some people need to produce more discretionary income is to stop being careless by spending on what is irrelevant, if guys can be more meticulous with managing funds, they'll be amazed at the funds they can save from their expenses budget which they can put back into their discretionary income.

If we don't overly follow a lifestyle, our expenses will be more stable, and we'll only use them for areas that benefit our personal needs. This isn't simply a matter of restricting ourselves from our lifestyle, but rather because our income is quite limited. Unless we act recklessly, we know we have ample income from various sources. This doesn't mean we can't afford to indulge in a lifestyle like buying luxury and branded clothes. If we suddenly need something, we're prepared to cover it, as we have the ability to cover unexpected needs.

There are many people who cannot find a source of discretionary income, because they cannot manage their finances properly. Every person needs to manage their financial situation properly and stop all unnecessary expenses. If they are able to stop such unnecessary expenses, then they will be able to find a source of discretionary income and if a person did not find a source of discretionary income before, then he will be able to find a source of discretionary income by stopping these unnecessary expenses.

Unnecessary expenses such as drinking alcohol, smoking too much, spending money on extra friends, etc. If we are able to bring all these expenses under control, then surely we will be able to invest that amount of money in Bitcoin

[Bluedrem]

If we don't overly follow a lifestyle, our expenses will be more stable, and we'll only use them for areas that benefit our personal needs. This isn't simply a matter of restricting ourselves from our lifestyle, but rather because our income is quite limited. Unless we act recklessly, we know we have ample income from various sources. This doesn't mean we can't afford to indulge in a lifestyle like buying luxury and branded clothes. If we suddenly need something, we're prepared to cover it, as we have the ability to cover unexpected needs.

We can follow others, but following those who earn less than us and live a good life can be a positive thing for us. But following people who earn more than us and live a luxurious life can increase our expenses. And since the prerequisite for investing in Bitcoin is to invest using discretionary income, there are some people who do not have enough discretionary income and are not able to invest in Bitcoin despite their desire. And if they reduce the expenses of the basic needs used in their daily life, then a significant amount of discretionary income will be created there, as well as if they put in a little more effort to earn, then some more discretionary income will be created from there and using this discretionary income, when people invest in Bitcoin in the DCA method, they can maintain their investment portfolio for a long time. However, it should be remembered that when you are creating a Bitcoin fund, you must create an emergency fund so that if an emergency situation arises, you can use the emergency fund to handle that situation.

[Silikiem]

If we don't overly follow a lifestyle, our expenses will be more stable, and we'll only use them for areas that benefit our personal needs. This isn't simply a matter of restricting ourselves from our lifestyle, but rather because our income is quite limited. Unless we act recklessly, we know we have ample income from various sources. This doesn't mean we can't afford to indulge in a lifestyle like buying luxury and branded clothes. If we suddenly need something, we're prepared to cover it, as we have the ability to cover unexpected needs.

We can follow others, but following those who earn less than us and live a good life can be a positive thing for us. But following people who earn more than us and live a luxurious life can increase our expenses. And since the prerequisite for investing in Bitcoin is to invest using discretionary income, there are some people who do not have enough discretionary income and are not able to invest in Bitcoin despite their desire. And if they reduce the expenses of the basic needs used in their daily life, then a significant amount of discretionary income will be created there, as well as if they put in a little more effort to earn, then some more discretionary income will be created from there and using this discretionary income, when people invest in Bitcoin in the DCA method, they can maintain their investment portfolio for a long time. However, it should be remembered that when you are creating a Bitcoin fund, you must create an emergency fund so that if an emergency situation arises, you can use the emergency fund to handle that situation.

A discretionary income remains a discretionary income no matter the amount so saying that there are some people without enough discretionary income will not invest In bitcoin despite their desire may is not just something I think is right, they don’t have to wait for enough discretionary income before they can invest in bitcoin, they should invest with the amount of discretionary invoke they have and not wanting to invest hugely because their saw the other man is doing so, there should be no pressure in bitcoin investment and everyone should just invest with the amount of discretionary income at their disposal. Its better they start with the available discretionary income at hand and not invest because they think it’s not enough discretionary income, they can start and along the line look out for ways to increase their finances to enable them also increase their discretionary income allocations for accumulating bitcoin and building their emergency funds/reserve funds and other back up and discretionary spending.

[samadam007]

There are many people who cannot find a source of discretionary income, because they cannot manage their finances properly. Every person needs to manage their financial situation properly and stop all unnecessary expenses. If they are able to stop such unnecessary expenses, then they will be able to find a source of discretionary income and if a person did not find a source of discretionary income before, then he will be able to find a source of discretionary income by stopping these unnecessary expenses.

Unnecessary expenses such as drinking alcohol, smoking too much, spending money on extra friends, etc. If we are able to bring all these expenses under control, then surely we will be able to invest that amount of money in Bitcoin

Lol you can’t dictate what expenses is unnecessary for people. The things you mentioned might seem unnecessary to you, but necessary to another person. So, It is up to that person to look at his expenses and decide which ones to reduce or cut off, so he can able to have reasonable discretionary income to plan with. Everyone is responsible for is own financial situation. But In cases where a person is still not able to get more discretionary income after reducing unnecessary expenses, he can explore other sources of income.

[New Judgement]

Unnecessary expenses such as drinking alcohol, smoking too much, spending money on extra friends, etc. If we are able to bring all these expenses under control, then surely we will be able to invest that amount of money in Bitcoin

Let me ask you this question, if you don’t have a job, or you lost your job, along the line you got broke. You have a friend that have a job, he got worried by your situation and promise to be footing your bills for the time being while you source for a job. This your friend somehow heard about bitcoin and he decided to invest in bitcoin. But he discovered that his expenses are too much, that he need to cut down his expenses. To him all the expenses on the list are essential (including the money use to settle your bills). He became a bit worried and his wife noticed and asked him what the problem was, he opened up to her. The wife advised him to cut off the money he spend on you since you are broke.

Your friend came to you the next day and said, hey man I’m stopping the money I spend on you, my wife said it’s unnecessary expenses for me. How will you feel? Will you see your friend’s wife as a good person? Sometimes when we give some advise, we should think of the implications such advice will create on the next person’s life. If you have ever been broke before, you will never see any money friends spend on you as unnecessary expenses.

[Rhow]

If we don't overly follow a lifestyle, our expenses will be more stable, and we'll only use them for areas that benefit our personal needs. This isn't simply a matter of restricting ourselves from our lifestyle, but rather because our income is quite limited. Unless we act recklessly, we know we have ample income from various sources. This doesn't mean we can't afford to indulge in a lifestyle like buying luxury and branded clothes. If we suddenly need something, we're prepared to cover it, as we have the ability to cover unexpected needs.

We can follow others, but following those who earn less than us and live a good life can be a positive thing for us. But following people who earn more than us and live a luxurious life can increase our expenses. And since the prerequisite for investing in Bitcoin is to invest using discretionary income, there are some people who do not have enough discretionary income and are not able to invest in Bitcoin despite their desire. And if they reduce the expenses of the basic needs used in their daily life, then a significant amount of discretionary income will be created there, as well as if they put in a little more effort to earn, then some more discretionary income will be created from there and using this discretionary income, when people invest in Bitcoin in the DCA method, they can maintain their investment portfolio for a long time. However, it should be remembered that when you are creating a Bitcoin fund, you must create an emergency fund so that if an emergency situation arises, you can use the emergency fund to handle that situation.

I agree that saving can be done if basic needs can be met at a low cost. But it would not be right to call the money saved by leaving the need unfulfilled as discretionary income, rather it is important to prioritize basic expenses first.

There are two things here. If someone reduces their expenses by moving to a suitable house for rent, it is one thing. But if someone removes the rent or necessary medical expenses and buys Bitcoin, it is completely different. In the second case, even if you have temporary money in hand, you still have that related liability. Therefore, basic needs will remain as long as they are, but if someone seeks extra luxuries, he has to be careful. Even the best way is to increase income. Because these days, the way things are increasing, it is quite difficult to reduce expenses.

[Alonso_]

Increasing discretionary income can come from managing cashflow better to reduce expenses, what some people need to produce more discretionary income is to stop being careless by spending on what is irrelevant, if guys can be more meticulous with managing funds, they'll be amazed at the funds they can save from their expenses budget which they can put back into their discretionary income.

If we don't overly follow a lifestyle, our expenses will be more stable, and we'll only use them for areas that benefit our personal needs. This isn't simply a matter of restricting ourselves from our lifestyle, but rather because our income is quite limited. Unless we act recklessly, we know we have ample income from various sources. This doesn't mean we can't afford to indulge in a lifestyle like buying luxury and branded clothes. If we suddenly need something, we're prepared to cover it, as we have the ability to cover unexpected needs.

What lifestyle are you really talking about, investing in bitcoin doesn’t stop anyone from living their life’s, as long as you have a discretionary income and you’re buying bitcoin, and also keeping your backups funds on check and staying updated with your buying bitcoin, let me assume that you’re someone who smokes or drinks, which I wouldn’t necessarily say is a reckless lifestyle, you have to take those spending into your expenses, and take out your discretionary income for buying bitcoin doesn’t stop you from enjoying yourself, so there are people who are investing in bitcoin for a long term and are still living their lifestyle, so living your lifestyle doesn’t necessarily mean that you’re going to fumble your bitcoin investments. There are also people who makes investments in bitcoin, and when they start it would be more likely they’ve to adjust to their lifestyle because it’s giving them tough time trying to start investments or having difficulties probably because they’re living a reckless lifestyle, I believe this are people who would definitely need adjustment when starting bitcoin, so people who still feel comfortable with their lifestyle and are still doing the right things and investing in Bitcoin might not need adjustment to their lifestyle.

[Tmoonz]

There are many people who cannot find a source of discretionary income, because they cannot manage their finances properly. Every person needs to manage their financial situation properly and stop all unnecessary expenses. If they are able to stop such unnecessary expenses, then they will be able to find a source of discretionary income and if a person did not find a source of discretionary income before, then he will be able to find a source of discretionary income by stopping these unnecessary expenses.

Unnecessary expenses such as drinking alcohol, smoking too much, spending money on extra friends, etc. If we are able to bring all these expenses under control, then surely we will be able to invest that amount of money in Bitcoin

Lol you can’t dictate what expenses is unnecessary for people. The things you mentioned might seem unnecessary to you, but necessary to another person. So, It is up to that person to look at his expenses and decide which ones to reduce or cut off, so he can able to have reasonable discretionary income to plan with. Everyone is responsible for is own financial situation. But In cases where a person is still not able to get more discretionary income after reducing unnecessary expenses, he can explore other sources of income.

Apparently, everyone has right towards what they consider to be called basic needs and expenses which can be unnecessary for the other person just as you said, calling expenses such drinking alcohol and smoking unnecessary expenses is not right instead we can talk about how negatively these can affect health conditions when taking them too much and I will agree with that, It is more appropriate to put first things that are basic to you and if at the end of the day there are still money left which is your discretionary then you can invest more comfortably. However, money should be spent according to level of importance.

[Dareo]

-snip-
There are many people who cannot find a source of discretionary income, because they cannot manage their finances properly. Every person needs to manage their financial situation properly and stop all unnecessary expenses. If they are able to stop such unnecessary expenses, then they will be able to find a source of discretionary income and if a person did not find a source of discretionary income before, then he will be able to find a source of discretionary income by stopping these unnecessary expenses.

Unnecessary expenses such as drinking alcohol, smoking too much, spending money on extra friends, etc. If we are able to bring all these expenses under control, then surely we will be able to invest that amount of money in Bitcoin

Reducing unnecessary costs is a positive practice, yet not every financial difficulty results from a person's inability to manage his expenses. A lot of people earn so little money that it is impossible for them to save after having covered basic needs. So saving only from cigarettes or entertainment will not necessarily allow everyone to purchase Bitcoin. You need to set aside money in case of emergency and invest only if you have some left, In addition earning more money is crucial for your further progress.

[sotelorene]

Reducing unnecessary costs is a positive practice, yet not every financial difficulty results from a person's inability to manage his expenses. A lot of people earn so little money that it is impossible for them to save after having covered basic needs. So saving only from cigarettes or entertainment will not necessarily allow everyone to purchase Bitcoin. You need to set aside money in case of emergency and invest only if you have some left, In addition earning more money is crucial for your further progress.

I agree with this first line of sentence and again, I always say this that tasking oneself to be an investor when you know within yourself for sure that you don't have what it takes to do that is very wrong. It is better to be a no coiner than investing with pressure, force and with what you can not afford to lose because the chances of selling at loss or premature is very high. Earning more doesn't make one have capacity but our capacity depends on our discretionary and we get a good discretionary if our expenses are not much.