Advice on finances for the festive season

[Egii Nna]

Merry Christmas and Happy New Year to everyone in this forum.
 
Let's go down to the main purpose of the topic, which is advice to people, most especially to the newbies in bitcoin and some that don't have enough discipline when it comes to financial management. I know we are in a festive season in which everyone will try to have a connection with a lot of their families that has been long since you guys met with each other, and there will be a lot of oppression that will come for friends and family, and there will be a lot of expenses.
 
What I want to encourage is that no matter what, you shouldn't take it so personally or spend more than you have, which might lead you to sell your bitcoin investment because of the festive season. and don't let yourself enter the debt that will be very hard for you to pay because the festive season doesn't last for more than 10 days. So no matter what, you should always have critical thinking before making financial decisions this festive season because there is no need for competition in life.

If you really want to be financially free in your life, then you have to focus and forget anything like competition or impressing people with your time and money.
 
The flow is open for more advice that will be useful for this festive season to avoid making financial mistakes.

[adultcrypto]

I have always advice people to plan their investment to cover for personal needs and also some other emergency needs such as a season like we have now. Through proper planning, there will be no need for the investor to sell bitcoin for this kind of holiday unless the investment was made separately for such and different from those kept for long term HODL. This is not bad in my opinion because there are people who save fiat for holidays and if someone can save fiat for holidays, then bitcoin can also be saved for the holidays.

[BIT-BENDER]

I have always advice people to plan their investment to cover for personal needs and also some other emergency needs such as a season like we have now. Through proper planning, there will be no need for the investor to sell bitcoin for this kind of holiday unless the investment was made separately for such and different from those kept for long term HODL. This is not bad in my opinion because there are people who save fiat for holidays and if someone can save fiat for holidays, then bitcoin can also be saved for the holidays.

You hit the nail on the head. This has also been my point, I have seen post that encourage people to carry our very stringent Bitcoin investment which is only for the short term because it's hard to only focus on Bitcoin or any other investments while neglecting your personal needs, it's just a matter of time before you deep hands into you Bitcoin wallet.
Always consider yourself first before investing, best you can find a way to increase your income this can also come in handy.

[Shadiq]

The flow is open for more advice that will be useful for this festive season to avoid making financial mistakes.

I would like to have a fund for specific holidays. It is always advisable to have an emergency fund, reserve fund or other funds ready as part of an investment plan, which includes a fund for major festivals or holidays. I don't think we should skimp on spending money on entertainment. If we can have enough cash flow in the festival fund with proper planning, we won't have to sacrifice anything and our Bitcoin investment will be safe.

[Juicyhome]

From January to December people have been working hard to earn money. Time for good holiday yiu won't tell them not to enjoy their money. Omo enjoy to the fullness time wait for no man. Don't be stingy for yourself, take yourself out and enjoy with family.  If e reach to touch your savings touch am. Lol. But have some reserves for next year.

A wise king will know when to stop. You can't empty your account for Christmas. But a good thinker had before now kept Christmas buga funds and he won't exceed the plan.

[SmartCharpa]

Every investor has a reason for holding their Bitcoin, so it isn't a bad idea to sell some of it for the holidays, some investors might choose to buy Bitcoin at the start of the year in the hopes of making a profit at the end of the year and using the profits for the holidays. The fact that we own Bitcoin does not exclude us from selling in an emergency or other situation when we are forced to touch our assets.

However, I do not disagree with what you said because it is good advice for some newbies who have just started their Bitcoin journey to hold for a long time, and we all know how they can easily oppress some people, they'll say things like, "This guy wants to play with my doings, he thinks maybe I am not working hard before you know some people will rush to sell their holdings to show themselves in the society that they are also big boys." So let us celebrate this holiday season properly, spending only what we can afford; it will soon end, and anyone who does too much it will have their eyes cleared.

[adultcrypto]

I have always advice people to plan their investment to cover for personal needs and also some other emergency needs such as a season like we have now. Through proper planning, there will be no need for the investor to sell bitcoin for this kind of holiday unless the investment was made separately for such and different from those kept for long term HODL. This is not bad in my opinion because there are people who save fiat for holidays and if someone can save fiat for holidays, then bitcoin can also be saved for the holidays.

You hit the nail on the head. This has also been my point, I have seen post that encourage people to carry our very stringent Bitcoin investment which is only for the short term because it's hard to only focus on Bitcoin or any other investments while neglecting your personal needs, it's just a matter of time before you deep hands into you Bitcoin wallet.
Always consider yourself first before investing, best you can find a way to increase your income this can also come in handy.

It is our duty to discourage as many people as possible from compulsive buying because it is never a good practice. Unfortunately,  such practice is what dominate the social media space as they are pushed by these self-acclaimed bitcoin influences. It is only on rare occasions that impulsive buying never ends in trouble for the investor because the tendency of manifesting all the bad traits, that lead to losses,  is very high.

[POPOLUV]

Merry Christmas and happy new in advance to my oga them at the top, I'm really very grateful to have given this opportunity to part take on this topic.
I'm very happy to have come across this thread today because this is what have be in mind that this is festival period that we should mind on will spend the money that we have at hand or in bank because January will still come and were the month of January doesn't use to move fast to the weekly or monthly earners, my advice is to allow some of your Bitcoin investments to be  still mining for you.

[Felicity_Tide]

If you really want to be financially free in your life, then you have to focus and forget anything like competition or impressing people with your time and money.
 
The flow is open for more advice that will be useful for this festive season to avoid making financial mistakes.

You have a very valid point here OP. This evening, I was actually telling someone something similar. You see, the country we find ourselves is a place where the only time people tend to eat well is during festive periods like this, which will then become a major priority to them. I'm not saying it's bad to cook/eat during festive periods like these(besides I celebrate the Christmas too), but making it a priority to do certain things sometimes is not necessarily. Times like this is when we find couples that are not in good terms, all because one party failed to provide the necessary things for Christmas.

Truth is, so many people forgets that the coming year also comes with demands. Of course, there are lot of people that are only thinking about what to eat and how to spend their best this festive period. It's not bad, but doing this when you know that your financial capability isn't strong is definitely a wrong decision to take. Trust me when I say, only few will adhere. You and I know the country we live in. Nobody wan dey left behind for the celebration matter.

Regardless, Merry Christmas to everyone.

[Obari]

Merry Christmas and Happy New Year to everyone in this forum.
 
Let's go down to the main purpose of the topic, which is advice to people, most especially to the newbies in bitcoin and some that don't have enough discipline when it comes to financial management. I know we are in a festive season in which everyone will try to have a connection with a lot of their families that has been long since you guys met with each other, and there will be a lot of oppression that will come for friends and family, and there will be a lot of expenses.
 
What I want to encourage is that no matter what, you shouldn't take it so personally or spend more than you have, which might lead you to sell your bitcoin investment because of the festive season. and don't let yourself enter the debt that will be very hard for you to pay because the festive season doesn't last for more than 10 days. So no matter what, you should always have critical thinking before making financial decisions this festive season because there is no need for competition in life.

If you really want to be financially free in your life, then you have to focus and forget anything like competition or impressing people with your time and money.
 
The flow is open for more advice that will be useful for this festive season to avoid making financial mistakes.

I think your post is centered more on competition than more about the financial advice you're trying to give and well i see that your post is coming from a genuine and sincere course of wanting to help the people around you but you too also know say for this our country, yourself na already enough competition and anybody wey go see the next man as him own competition is left for such a person because you go end up messing up your life even before you go even realize the matter.

regardless of everything, i personally believe that, life on its own no get manual and wetin work for one person fit  no work for the next person and as make we all try to figure out wetin work for us and try to stick to am as long as na wetin dey good from the depth of our heart.
me i be person wey no believe say person something go actually move me and as such,i no believe say another person doings go give me pressure especiaslly when i no know how them dey take dey get their own money because me i know how i dey get my own and i dey focus more on expanding my coast than letting wetin another person get to pressure me. 

[Cryptohygenic]

OP you don talk the koko onto say some people go lavish money just for this Christmas and no go reason say tomorrow dey way dem supposed spend on reserve.
E go also make sense say even if investors go sell their bitcoin make e be via their initial plans say dem go use a particular amount take do dorime for the Christmas but remember not to do pass their selves because tomorrow far way be say dem no need get carried away by enjoyment or trying to show them selves say dem get money. If not na to com back to square 1 go be the person own comes next year 2025

[Pi-network314159]

What I want to encourage is that no matter what, you shouldn't take it so personally or spend more than you have, which might lead you to sell your bitcoin investment because of the festive season. and don't let yourself enter the debt that will be very hard for you to pay because the festive season doesn't last for more than 10 days. So no matter what, you should always have critical thinking before making financial decisions this festive season because there is no need for competition in life.

There is no reason that will make anyone spend above his discretion. That's why it is advised we spend withing our discretion and not overdue to the extent of mismanagement that will lead to selling our bitcoin stashes. a good investor should be able to settle his need, invest in bitcoin,  set aside his emergence fund and still have a discretionary income that will help him to sort himself out from some situations without even dip diving into his bitcoin holdings.

[Cityhunter34]

Your advice is good at least it will going be a reminder for some people here, because most people get carried away in festive season like this. Then after they have lavished enough money come the beginning of next year they would start looking for who to sustain them, at least we know that we are season of enjoyments but let it be in such a way that it not affect us after the festive season. However, I think is very necessary for us to always to plan our self very well and spend wisely.

[Yucky]

It's easier to tell people not to overspend during the holiday season, but the truth is, many still feel pressured to keep up appearances. I have a friend who refuses to go home because he feels like he hasn't made it big yet, and he doesn't want to feel inferior to others who may have made quick money through scams.

If you know you'll be tempted to spend your savings, consider putting them in an account without an ATM card or transfer capabilities. I once had an account like that, which helped me save money without the temptation to spend it impulsively.

Another option is to give someone you trust a certain amount of money to hold for you. This way, when the festive season is over, you'll have cash to start the new year without breaking the bank.

Avoid liquidating your assets, such as Bitcoin, because once the money is in your account, you may feel tempted to spend it. It's better to plan ahead and be cautious during the holiday season. Shake off the pressure, it's only when you feel pressured that you start looking for ways to make yourself feel among the successful ones.

[Huliya]

An important piece of advice for those new to Bitcoin and financial management this festive season is to never sell your investments and never overspend under any circumstances. It is good to overspend during the festive season by giving gifts to friends, family and household, but it is very important not to be tempted to do this. Make financial decisions carefully and critically. Although the festive season may not last more than a week. But remember that to be financially independent, you need to walk your own path. You need to make the right decisions for your future without getting caught up in unwanted competition.

[RockBell]

I have always advice people to plan their investment to cover for personal needs and also some other emergency needs such as a season like we have now. Through proper planning, there will be no need for the investor to sell bitcoin for this kind of holiday unless the investment was made separately for such and different from those kept for long term HODL. This is not bad in my opinion because there are people who save fiat for holidays and if someone can save fiat for holidays, then bitcoin can also be saved for the holidays.

When it is festive seasons like this we should have plans of how to make proper preparations before the season even comes when there is a good plan made then everything is made easy, and you can even make savings just for this season because there is no way that you won't celebrate when. Seasons like this come and spending without proper planning will just put you in another failed financial situation, and January is usually very hot especially when it comes to finance and things are usually very expensive.

Instead of having plan to sell your bitcoin it is better to just spend your fiat so that when people are busy selling and getting profits it will be better than just selling just because of season and it will pass so don't not waste too much time investing, and since it's something that you have to hold for a long time you don't have to worry too much, and if they can save fiat for the holiday then saving bitcoin will not be a bad idea also because if it eventually increases it is still at the persons advantage.

[Oshio-man]

There are some people who no go still listen to dis your advice op, because dey believe say d festive season is only once in a year which dey will do everything possible to make people around them happy, I no think say I go fit spend my money anyhow in dis festive season because weitin I dey receive from my working place no go make me go into competition with anybody in dis festive season because I dey plan to buy bitcoin next year once d price decrease down well well, so that I go no say I have asset that will bring me good income next year December because I'm ready to hold d bitcoin for long term before I can trade,  please let us spend wisely in dis festive season because January always make some people to regret for spending their money anyhow in December.

[iBaba]

From January to December people have been working hard to earn money. Time for good holiday yiu won't tell them not to enjoy their money. Omo enjoy to the fullness time wait for no man. Don't be stingy for yourself, take yourself out and enjoy with family.  If e reach to touch your savings touch am. Lol. But have some reserves for next year.

A wise king will know when to stop. You can't empty your account for Christmas. But a good thinker had before now kept Christmas buga funds and he won't exceed the plan.

I think this thread was created with the intention of advising everyone to manage their funds while spending during the holidays. Many people get carried away easily by overspending their budgets on intangible things during these period, some due to being overexcited while others could even attach it to religious beliefs.

During religious festive seasons like this, many people believe that they can spend all their savings on their festive expenses believing that God will provide another opportunity to make more money. While I am not saying one should not believe in God, you must always manage your expenses and spare more money for after the event.

[Marykeller]

Na person wey no know wetin dem go stand to gain in the future towards their Bitcoin investment go like trade am for few days enjoyment wey no go last forever, person go forget am, by moving to their next chapter of life.

Em d dey better make peso watch before they leap. Person no suppose trade their future for enjoyment wey no go amount to anything. Time don pass wey peso go do more than they can to feel among in this society wey d cost of living is killing the living.

Enjoyment no d finish, everyone of us is managing. Those of your friends or siblings wey you wan prove a point to, in this festive period no go send what becomes of you next when you don spend the money you have. It's better peso use em head because what people care to hear is your success story not your missed opportunities

[Callido]

This Christmas season happens not often, people take this as an opportunity to spend not just time alone but very quality time with both distance and close relations. Thinking of management spending is a good advice but when you take a look at some necessary spending that cannot be left void, you won't mind going in debt if it's called for, do you know people save up for this festive season? it might look common to some but really means a lot to some others who never gets to sit and dine together. Don't get me from the wrong perspective, i will never advice to alter one's investment just to satisfy eat and drinking but debts can be a common situation during this period and why can't you when you possibly have a source to pay back after.