Balancing Financial security and Bitcoin Accumulation

[Joy- maker]

Pardon my ignorance, but what is the difference between discretionary funds and income.

The difference between discretionary fund and discretionary income is clear. Discretionary fund is a money allocated or budgeted for something that is not really necessary or investment, it's just a fund for hanging out with friends to have fun, or a money for dinning out, or a money for travels, while discretionary income is a leftover money after you must have settled your basic needs and expenses either for the week or for the month. And your Discretionary income is the money you will use to invest in bitcoin and to build your emergency fund and backup fund.

[I_Anime]

Pardon my ignorance, but what is the difference between discretionary funds and income.

The difference between discretionary fund and discretionary income is clear. Discretionary fund is a money allocated or budgeted for something that is not really necessary or investment, it's just a fund for hanging out with friends to have fun, or a money for dinning out, or a money for travels, while discretionary income is a leftover money after you must have settled your basic needs and expenses either for the week or for the month. And your Discretionary income is the money you will use to invest in bitcoin and to build your emergency fund and backup fund.

Let me try and break it down,

Discretionary income: is like a form of left over after taken care of your essential expenses ( rent, food, electricity bill etc.) , and you can choose to spend, saved or invest with it .

While Discretionary funds : money you choose to set aside for fun or for personal want and stuff , discretionary funds is from your discretionary income .

For instance my discretionary income is $500 I can choose to make use of $200 as my discretionary funds, while the remaining $400 can go into saving or investing .

[Agbamoni]

i feel it is far-fetched to sey there isa minimum amount for Bitcoin investment, I think Bitcoin investment should be done as earlier stated from discretionary funds or income, or you can make a little sacrifice from your non-discriminatory income so as to kick start your Bitcoin investment journey if at all it's possible (NFA), but stating a minimum amount can really be somewhat discouraging to some people.

This clearly shows you dont read ongoing conversations here. @JayJuanGee clearly explained it here, but ill repeat it so you can understand better.

On a good day, there is no fixed minimum amount that we can invest in bitcoin with, but it is advisable to not go below $10 because if you invest $10 per week you will have a total of $520 in a year, and in 4 years you will have a $2,080 which is quite low but it is better than nothing. In a case you invest less than $10 let me say $3 to $4 weekly, you will get anything tangible after four years. It can take you a life time before you can get half bitcoin, and sadly the price will keep appreciating while purchasing power keeps depreciating.

It is better to be discouraged when you dont have the right discretionary income to invest in bitcoin than starting your investment and later destroying it all. Work on your income and once you good sizable income is achieved you can know how to allocate comfortable into your investment and your basic needs.

Pardon my ignorance, but what is the difference between discretionary funds and income.

You should have asked this question before making that first comment. I almost thought you knew what discretionary income is.

In simple term discretionary income refers to the amount of money that individuals have left to spend after they have handled all personal and basic expenses. You can choose to do whatever you want to do with your discretionary income. You can choose to invest all into bitcoin or invest some, well this will depends on the size of your discretionary income. Its not always the same to everyone. Your discretionary income can be measured from your income and the cost of your basic expenses.

If you dont know how to calculate it, then leave a comment I will guide you. See ya!

[kanftka]

You are very correct sir, bitcoin investment shouldn't be overdo in any way, let your approach in every investment be from your discretionary funds, also avoid being in a competition with anybody in bitcoin accumulations so that you wouldn't start having issues along the line, however always buy (accumulate) or top up your bitcoin portfolio at your convenient time using your discretionary funds, therefore these steps or techniques can trigger success and sustain patients in every bitcoin investment.

Based on the economic situation in Nigeria, it will take lots of sacrifice for a minimum wage earner to have discretionary funds. The cost of living is going high and salaries have not been increased making people spend all they have earned for the month on basic needs.

This is when we need to cut down on expenses that we don't really need. Focus on buying durable items because it will help to save money since they last for a long time. Take advantage of seasonal foods because they are cheaper. Find alternatives to expensive products; there are always cheaper substitutes. Take care of your health to avoid medical expenses due to an unhealthy lifestyle. Investment is important, so there is a need to make some sacrifices.    

Of course, if you don't have any discretionary income, you cannot invest, and if you put money into bitcoin with non-discretionary income you are trading/gambling.  Not investing.

Increasing discretionary income comes from increasing income and/or cutting expenses, and surely there can be some locations in which it is quite difficult to increase income, and sometimes there could be investments into gaining skills and/or education or even getting exposure to higher paying jobs through working on networking or even doing unpaid work in order to get inside some positions that might lead to promotions later down the road.  Some guys might be limited in what they are able to accomplish in a short period, and some guys might be of an age (or health status) where it might not be practical for them to try to pursue certain lines of higher paying work... which sometimes there can also be questions regarding working for someone else versus creating your own business in which sometimes a lot of capital might be required or certain areas of expertise or access to social capital might be needed for certain lines of business.

Yeah, I get what you are saying. If you do not have any extra cash left after taking care of your needs, then you really have no business investing, because at that point it is not investment, it is straight up gambling with money you can not afford to lose…. The real play is to find a way to create more breathing room in your finances, either by earning more or cutting back on things you can live without.

The thing is, in some places, that is way easier said than done. Jobs might be scarce, pay might be low, and expenses just keep climbing….  Sometimes the smart move is to focus on yourself first, pick up skills, engage in other small jobs, take training, reason is just to get extra income and a shot at something better….  It might not be instant, but it will pay off long term….

[JayJuanGee]

[edited out]
....
You are right Futurexxx that having discretionary funds is necessary from the start, and a discretionary income is needed to continue to invest into bitcoin, yet a discretionary income is not needed to get started, only discretionary funds are needed to get started.

Part of the reason that this is important is that people keep mixing up what is needed to get started and what is needed to continue to invest.

Pardon my ignorance, but what is the difference between discretionary funds and income.

Part of the reason that I made that distinction is because members keep suggesting (or claiming) that newbie investors into bitcoin need to have a regular income in order to start investing into bitcoin, and that is not true.

All they need is discretionary funds.. which means that it is funds that are extra after they have accounted for their expenses.

The only difference with my use of the term "income" is to suggest that there is a steady flow of discretionary income every week or every month, and in order to invest into bitcoin you do not need a steady flow of income.

You just need discretionary funds at the time that you buy. So for example, if you have an extra $10 and you were considering buying a pack of cigarettes, but instead you decided to skip the pack of cigarettes and to buy bitcoin with that $10.  That $10 is discretionary money since you had the option to buy cigarettes or to buy bitcoin with it.  In this example, you chose to buy bitcoin.

By the way, a person will be better off if he has a discretionary income so then he can buy bitcoin on a regular basis, such as weekly.  But it is not necessary to have such steady income to get started. The income can be erratic and irregular, yet whenever the guy has some discretionary funds, meaning money that is left over after he has accounted for his expenses, then he can choose to buy bitcoin with that.. or he can choose to buy cigarettes or anything else that he wants (which is the meaning of discretionary).

[edited out]

Discretionary income is the money that’s left over after all your essentials bills are being paid. Let’s say, you’re being paid $4,000 and your essential expense is $3,000, then the remaining $1,000 is your discretionary income. While discretionary funds are money set aside for investments or non essential spending. Let’s say, you’re now left with $1,000 discretionary income, then you can decide to set $500 for your non essential spending or for investments, that becomes your discretionary funds. Therefore; you get your discretionary funds from your discretionary income

That is not how I was using the term "discretionary funds"  I was merely trying to distiguish between money that was flowing on a regular basis and money that you must happen to have.

When you set some of your discretionary income aside, then you might be calling that back up funds, emergency funds, reserve funds.  You seem to be describing reserve funds, even though surely these terms can be used in a variety of way and some times ambiguously.

[fredericktaylor]

You are very correct sir, bitcoin investment shouldn't be overdo in any way, let your approach in every investment be from your discretionary funds, also avoid being in a competition with anybody in bitcoin accumulations so that you wouldn't start having issues along the line, however always buy (accumulate) or top up your bitcoin portfolio at your convenient time using your discretionary funds, therefore these steps or techniques can trigger success and sustain patients in every bitcoin investment.

Based on the economic situation in Nigeria, it will take lots of sacrifice for a minimum wage earner to have discretionary funds. The cost of living is going high and salaries have not been increased making people spend all they have earned for the month on basic needs.

This is when we need to cut down on expenses that we don't really need. Focus on buying durable items because it will help to save money since they last for a long time. Take advantage of seasonal foods because they are cheaper. Find alternatives to expensive products; there are always cheaper substitutes. Take care of your health to avoid medical expenses due to an unhealthy lifestyle. Investment is important, so there is a need to make some sacrifices.    

Of course, if you don't have any discretionary income, you cannot invest, and if you put money into bitcoin with non-discretionary income you are trading/gambling.  Not investing.

Increasing discretionary income comes from increasing income and/or cutting expenses, and surely there can be some locations in which it is quite difficult to increase income, and sometimes there could be investments into gaining skills and/or education or even getting exposure to higher paying jobs through working on networking or even doing unpaid work in order to get inside some positions that might lead to promotions later down the road.  Some guys might be limited in what they are able to accomplish in a short period, and some guys might be of an age (or health status) where it might not be practical for them to try to pursue certain lines of higher paying work... which sometimes there can also be questions regarding working for someone else versus creating your own business in which sometimes a lot of capital might be required or certain areas of expertise or access to social capital might be needed for certain lines of business.

Yeah, I get what you are saying. If you do not have any extra cash left after taking care of your needs, then you really have no business investing, because at that point it is not investment, it is straight up gambling with money you can not afford to lose…. The real play is to find a way to create more breathing room in your finances, either by earning more or cutting back on things you can live without.

The thing is, in some places, that is way easier said than done. Jobs might be scarce, pay might be low, and expenses just keep climbing….  Sometimes the smart move is to focus on yourself first, pick up skills, engage in other small jobs, take training, reason is just to get extra income and a shot at something better….  It might not be instant, but it will pay off long term….

You are right, investing without having a discreet income after spending is risky, investing money that we can lose. If our income is low, we should reduce unnecessary expenses and pay close attention to our skills, as well as take some training that may not yield results now but will be in demand in the future. We should plan not for the present but for the future. It is normal that expenses will continue to increase over time, but as the amount of expenses increases, it would be wise to apply your skills through training to earn additional income. If our income is low now, it is possible to increase it in the future through your skills. Even if this plan does not yield immediate results, it will greatly help in properly planning future investments.

[Olatundespo]

Pardon my ignorance, but what is the difference between discretionary funds and income.

The difference between discretionary fund and discretionary income is clear. Discretionary fund is a money allocated or budgeted for something that is not really necessary or investment, it's just a fund for hanging out with friends to have fun, or a money for dinning out, or a money for travels, while discretionary income is a leftover money after you must have settled your basic needs and expenses either for the week or for the month. And your Discretionary income is the money you will use to invest in bitcoin and to build your emergency fund and backup fund.

The funds left over after meeting the daily needs of the family are discretionary income. Most people do not use this fund properly because most of them waste money by spending it with friends and gambling or on other unnecessary sectors. If you cannot properly use your physical health you are a foolish because you can be work hard for a certain period of time, and beyond that age, you cannot earn, even if you want or your employer will not give you a job. You should try to be financially capable within the age when you are physically able to work and continue to accumulation Bitcoin regularly until retirement.

You will see examples of some smart investors who ensure proper use of time and accumulating Bitcoin according to their ability. They start with any amount of discretionary income and along with that, they continue to learn more about Bitcoin. By accumulating Bitcoin as a beginner you can develop the right investment strategy, skills and long term Bitcoin holding. Long term Bitcoin strategy.

[Barikui1]

Part of the reason that I made that distinction is because members keep suggesting (or claiming) that newbie investors into bitcoin need to have a regular income in order to start investing into bitcoin, and that is not true.

All they need is discretionary funds.. which means that it is funds that are extra after they have accounted for their expenses.

The only difference with my use of the term "income" is to suggest that there is a steady flow of discretionary income every week or every month, and in order to invest into bitcoin you do not need a steady flow of income.

You just need discretionary funds at the time that you buy. So for example, if you have an extra $10 and you were considering buying a pack of cigarettes, but instead you decided to skip the pack of cigarettes and to buy bitcoin with that $10.  That $10 is discretionary money since you had the option to buy cigarettes or to buy bitcoin with it.  In this example, you chose to buy bitcoin.

By the way, a person will be better off if he has a discretionary income so then he can buy bitcoin on a regular basis, such as weekly.  But it is not necessary to have such steady income to get started. The income can be erratic and irregular, yet whenever the guy has some discretionary funds, meaning money that is left over after he has accounted for his expenses, then he can choose to buy bitcoin with that.. or he can choose to buy cigarettes or anything else that he wants (which is the meaning of discretionary).

You are really on point and i also share the same sentiment here sir,  because their are some guys I know that doesn't always have a discretionary income, but anytime they have a discretionary funds from contract they won, they invest from it, sometimes it takes them five weeks to have another discretionary fund, sometimes six to seven weeks, but the key thing is that they never fail to invest anytime their discretionary income is available, so it all boils down to the investors will, if he is thinking long term and willing to accumulate consistently once he has a discretionary funds, so you are spot on when you said that discretionary income on a regular basis is for continuity, while discretionary funds is what's needed that particular time you want to invest.

[Cossyblack]

Part of the reason that I made that distinction is because members keep suggesting (or claiming) that newbie investors into bitcoin need to have a regular income in order to start investing into bitcoin, and that is not true.

All they need is discretionary funds.. which means that it is funds that are extra after they have accounted for their expenses.

The only difference with my use of the term "income" is to suggest that there is a steady flow of discretionary income every week or every month, and in order to invest into bitcoin you do not need a steady flow of income.

You just need discretionary funds at the time that you buy. So for example, if you have an extra $10 and you were considering buying a pack of cigarettes, but instead you decided to skip the pack of cigarettes and to buy bitcoin with that $10.  That $10 is discretionary money since you had the option to buy cigarettes or to buy bitcoin with it.  In this example, you chose to buy bitcoin.

By the way, a person will be better off if he has a discretionary income so then he can buy bitcoin on a regular basis, such as weekly.  But it is not necessary to have such steady income to get started. The income can be erratic and irregular, yet whenever the guy has some discretionary funds, meaning money that is left over after he has accounted for his expenses, then he can choose to buy bitcoin with that.. or he can choose to buy cigarettes or anything else that he wants (which is the meaning of discretionary).

Thank you Sir for the simple breakdown or definition on the words "Discretional funds" & "discretional income". It's not just newbies that will benefits alone from your teaching's but also members on this thread.  it's now very clear to my understanding on the proper use of the both terms ''Funds" &"income" because before now, I used to think discretional income is what is needed to buy Bitcoin which I was wrong but after studying your explanation, my perspective  on both terms has changed and has been corrected that what's is needed to start an investment in Bitcoin isn't our discretional income Rather what's needed is our discretional funds after settling our personal necessities.

Pardon my ignorance, but what is the difference between discretionary funds and income.

The funds left over after meeting the daily needs of the family are discretionary income.

I disagree with you ,the extra funds after meeting your personal  expenses is your discretional funds and also, that's is only what is required to get started investing in Bitcoin.While your discretional income is your regular do away income that comes weekly or monthly for continuity of buying bitcoin consistently.

[JayJuanGee]

[edited out]

You are right, investing without having a discreet income after spending is risky, investing money that we can lose. If our income is low, we should reduce unnecessary expenses and pay close attention to our skills, as well as take some training that may not yield results now but will be in demand in the future. We should plan not for the present but for the future. It is normal that expenses will continue to increase over time, but as the amount of expenses increases, it would be wise to apply your skills through training to earn additional income. If our income is low now, it is possible to increase it in the future through your skills. Even if this plan does not yield immediate results, it will greatly help in properly planning future investments.

Generally speaking income does not keep up with debasement of the currency (as prices go up), except people who are younger are likely to be able to get greater and greater income by receiving promotions, and like you suggested there are some folks who have high skills and are able negotiate higher wages and/or promotions.

In other words, there are a lot of normal folks who either have fixed incomes (such as persons drawing retirement income and/or pensions that do not tend to adequately adjust for inflation) and persons who have low paying wages and their wage increases are way less than the increases in the cost of living. 

It is wrong to presume that everyone is in a position to negotiate higher wages/income, even if it is possible for some.  There are likely folks in dead end jobs and low paying positions that could put themselves into a position of building their skills and/or experiences so that they can get higher paid jobs and/or promotions.

Part of the reason that I made that distinction is because members keep suggesting (or claiming) that newbie investors into bitcoin need to have a regular income in order to start investing into bitcoin, and that is not true.

All they need is discretionary funds.. which means that it is funds that are extra after they have accounted for their expenses.

The only difference with my use of the term "income" is to suggest that there is a steady flow of discretionary income every week or every month, and in order to invest into bitcoin you do not need a steady flow of income.

You just need discretionary funds at the time that you buy. So for example, if you have an extra $10 and you were considering buying a pack of cigarettes, but instead you decided to skip the pack of cigarettes and to buy bitcoin with that $10.  That $10 is discretionary money since you had the option to buy cigarettes or to buy bitcoin with it.  In this example, you chose to buy bitcoin.

By the way, a person will be better off if he has a discretionary income so then he can buy bitcoin on a regular basis, such as weekly.  But it is not necessary to have such steady income to get started. The income can be erratic and irregular, yet whenever the guy has some discretionary funds, meaning money that is left over after he has accounted for his expenses, then he can choose to buy bitcoin with that.. or he can choose to buy cigarettes or anything else that he wants (which is the meaning of discretionary).

You are really on point and i also share the same sentiment here sir,  because their are some guys I know that doesn't always have a discretionary income, but anytime they have a discretionary funds from contract they won, they invest from it, sometimes it takes them five weeks to have another discretionary fund, sometimes six to seven weeks, but the key thing is that they never fail to invest anytime their discretionary income is available, so it all boils down to the investors will, if he is thinking long term and willing to accumulate consistently once he has a discretionary funds, so you are spot on when you said that discretionary income on a regular basis is for continuity, while discretionary funds is what's needed that particular time you want to invest.

Also, if we are taking a snapshot and looking at our financial and psychological situation.   Maybe we can consider that we just got paid, so we are taking into account how much we just got paid. We might be able to see how  much money we have in various forms like cash that might be within the money that we just got paid and also money that might be in various back up funds such as emergency funds and/or reserves, we can also see the status of our various investments (including whether or not we have bitcoin and if so how much..), what are our expenses for the next several weeks or for that particular month until we expect to get paid next (and there might be uncertainties regarding how much or when we will be paid next) and we can assess the extent to which we have enough money to cover our various expenses from our income, and from looking at each of these existing matters, we can assess how much money we have left over from the funds that we were just paid and that could be called discretionary income (if there is some certainty that it is coming in on a regular basis in the past and into the future) or it could be called discretionary funds if there might not be certainty in regards to the quantity or even the timing for when it might be coming in in the future.

Surely each of us knows our own situations and the kind of work that we have been doing and that we expect to be able to do, yet there could also be situations where we have a lot of uncertainty in our income in regards to the kind of work that we might be able to get, and surely many members have been proclaiming that there is a need for certainty in future income in order to be able to invest in bitcoin and implicity to even get started investing into bitcoin, which is not true... All a person needs to do is to take a snapshot of his current situation, and if he has extra money that he can spend on anything that he likes (also known as discretionary funds) then he can use some or all of that money to buy bitcoin.

Of course, a person who has less certainties in regards to his future income should feel himself to be in a worse situation in terms of committing to buying bitcoin with all of his extra money as compared with a guy who has higher levels of certainty in his future income. So a guy who has higher levels of certainties in his future income is likely in a better position to invest aggressively into bitcoin as compared with a guy who has uncertainties in regards to his future income, yet the mere fact that there are uncertainties in future income does not mean that a guy cannot or should not get started investing into bitcoin, even if they start with merely one purchase (whether it is $10, $100, $1k or some other quantity to get started), and in order to be investing that money needs to come from discretionary funds and not from non-discretionary funds. 

If he puts money into bitcoin from non-discretionary funds (which means money that he needs for expenses) then he is engaged in trading or gambling rather than investing... including that investing in bitcoin should have an expectation of being locked up for a 4-10 years or longer time horizon and anything shorter than that would be trading or gambling.  Sure it is likely that a decent number of folks are not in a mindset to be able to commit towards investing into bitcoin for 4-10 years or longer at the time that they first get started investing into bitcoin, so perhaps they will develop those kinds of longer term perspectives on bitcoin as they continue to invest into bitcoin and while they hopefully continue to study bitcoin.

[edited out]

Thank you Sir for the simple breakdown or definition on the words "Discretional funds" & "discretional income". It's not just newbies that will benefits alone from your teaching's but also members on this thread.  it's now very clear to my understanding on the proper use of the both terms ''Funds" &"income" because before now, I used to think discretional income is what is needed to buy Bitcoin which I was wrong but after studying your explanation, my perspective  on both terms has changed and has been corrected that what's is needed to start an investment in Bitcoin isn't our discretional income Rather what's needed is our discretional funds after settling our personal necessities.

Likely in the end, we should be attempting to focus on the various ideas rather than getting too much caught up upon whether we are using terms correctly, since those would devolve into semantical rather than substantive arguments, and I think that the main thing that I was attempting to clarify is that a guy does not have to have a confidence in regards to his stream of future income in order to get started investing in bitcoin, even though surely a guy with a stream of income and fairly high confidence in the continuance of such ongoing income will be in a better position to continue to invest into bitcoin and even to invest aggressively as compared with someone who merely has some one time discretionary funds and a certain level of uncertainty in regards to his future income and/or his future expenses.

[yixichloro2xx]

Surely each of us knows our own situations and the kind of work that we have been doing and that we expect to be able to do, yet there could also be situations where we have a lot of uncertainty in our income in regards to the kind of work that we might be able to get, and surely many members have been proclaiming that there is a need for certainty in future income in order to be able to invest in bitcoin and implicity to even get started investing into bitcoin, which is not true... All a person needs to do is to take a snapshot of his current situation, and if he has extra money that he can spend on anything that he likes (also known as discretionary funds) then he can use some or all of that money to buy bitcoin.

While financial stability can make investing in Bitcoin feel safer, it is not a prerequisite. In fact, waiting for certainty in income might mean missing out entirely, because uncertainty is a constant in life and markets. The key is responsible allocation that is, using only discretionary funds you can truly afford to part with. Even small, consistent purchases over time can build a meaningful position without risking financial security.

Of course, a person who has less certainties in regards to his future income should feel himself to be in a worse situation in terms of committing to buying bitcoin with all of his extra money as compared with a guy who has higher levels of certainty in his future income. So a guy who has higher levels of certainties in his future income is likely in a better position to invest aggressively into bitcoin as compared with a guy who has uncertainties in regards to his future income, yet the mere fact that there are uncertainties in future income does not mean that a guy cannot or should not get started investing into bitcoin, even if they start with merely one purchase (whether it is $10, $100, $1k or some other quantity to get started), and in order to be investing that money needs to come from discretionary funds and not from non-discretionary funds. 

I would say that makes sense that is  having a stable and predictable income definitely gives more room for aggressive Bitcoin stacking. But even for someone with income uncertainty, starting small can still be a smart move as long as it’s from truly discretionary funds. The important part is getting skin in the game without risking essentials.

[Tungbulu]

[edited out]

You are right, investing without having a discreet income after spending is risky, investing money that we can lose. If our income is low, we should reduce unnecessary expenses and pay close attention to our skills, as well as take some training that may not yield results now but will be in demand in the future. We should plan not for the present but for the future. It is normal that expenses will continue to increase over time, but as the amount of expenses increases, it would be wise to apply your skills through training to earn additional income. If our income is low now, it is possible to increase it in the future through your skills. Even if this plan does not yield immediate results, it will greatly help in properly planning future investments.

Generally speaking income does not keep up with debasement of the currency (as prices go up), except people who are younger are likely to be able to get greater and greater income by receiving promotions, and like you suggested there are some folks who have high skills and are able negotiate higher wages and/or promotions.

In other words, there are a lot of normal folks who either have fixed incomes (such as persons drawing retirement income and/or pensions that do not tend to adequately adjust for inflation) and persons who have low paying wages and their wage increases are way less than the increases in the cost of living. 

It is wrong to presume that everyone is in a position to negotiate higher wages/income, even if it is possible for some.  There are likely folks in dead end jobs and low paying positions that could put themselves into a position of building their skills and/or experiences so that they can get higher paid jobs and/or promotions.

The relationship between income and currency debasement is indeed very complex and if we really look at it, we'll discover that not everyone's income keeps pace with inflation. Individuals who are on a fixed income, such as individuals who are retirees, often rely on pensions, and they're often faced with the challenges of maintaining their purchasing power as prices rise due to inflation.

Even low wage workers also are faced with the challenges of stagnant income growth, with wage increases, with the inability to keep up with the cost of living. The ability of individuals to negotiate higher wages or securing a promotion is most likely dependent on the individual's circumstances, their skills and also job market conditions.
And even though there's actually a possibility for some folks to potentially take proactive steps towards building and improving their skills and experiences in other to increase their earning opportunity, this approach isn't universally feasible. There are often so many challenges that may likely hinder a lot of individuals from making this move, such as limited access to proper education or training, lack of potential opportunities, family responsibilities and obligations, these things are enough to hinder some individuals from actually moving forward or making some moves to potentially enhance their earning opportunities.

Although, the notion that folks can simply bootstrap themselves out of low paying jobs kinda overlooks the structural issues that potentially contributes to income inequality, because there are certain sectors that are actually characterised by low wages, limited mobility and even limited opportunities for advancement.

[Derekfunds]

Pardon my ignorance, but what is the difference between discretionary funds and income.

The difference between discretionary fund and discretionary income is clear. Discretionary fund is a money allocated or budgeted for something that is not really necessary or investment, it's just a fund for hanging out with friends to have fun, or a money for dinning out, or a money for travels, while discretionary income is a leftover money after you must have settled your basic needs and expenses either for the week or for the month. And your Discretionary income is the money you will use to invest in bitcoin and to build your emergency fund and backup fund.

Let me try and break it down,

Discretionary income: is like a form of left over after taken care of your essential expenses ( rent, food, electricity bill etc.) , and you can choose to spend, saved or invest with it .

While Discretionary funds : money you choose to set aside for fun or for personal want and stuff , discretionary funds is from your discretionary income .

For instance my discretionary income is $500 I can choose to make use of $200 as my discretionary funds, while the remaining $400 can go into saving or investing .

You guys seems to be confused and you almost confused me too. There is no difference between discretionary funds and discretionary income rather it is just a misplacement of word in other words they are both same thing so saying discretionary funds is used for hanging out with friends and the rest is wrong not true because they are same thing just that people put discretionary funds in place of discretionary income or they mistake discretionary income to discretionary funds because generally there is nothing like discretionary funds so don't get it twisted people are referring to same thing.

[Futurexxx]

Let me try and break it down,

Discretionary income: is like a form of left over after taken care of your essential expenses ( rent, food, electricity bill etc.) , and you can choose to spend, saved or invest with it .

While Discretionary funds : money you choose to set aside for fun or for personal want and stuff , discretionary funds is from your discretionary income .

For instance my discretionary income is $500 I can choose to make use of $200 as my discretionary funds, while the remaining $400 can go into saving or investing .

You guys seems to be confused and you almost confused me too. There is no difference between discretionary funds and discretionary income rather it is just a misplacement of word in other words they are both same thing so saying discretionary funds is used for hanging out with friends and the rest is wrong not true because they are same thing just that people put discretionary funds in place of discretionary income or they mistake discretionary income to discretionary funds because generally there is nothing like discretionary funds so don't get it twisted people are referring to same thing.

Yes it's actually true that they are the same, but in other for an investor to invest consistently, discretionary funds needs to come in frequently either weekly or monthly, that's why it's called discretionary income by most folks here, but the main word should have been discretionary funds.
Look at the statement of sir jayjuangee

Part of the reason that I made that distinction is because members keep suggesting (or claiming) that newbie investors into bitcoin need to have a regular income in order to start investing into bitcoin, and that is not true.

All they need is discretionary funds.. which means that it is funds that are extra after they have accounted for their expenses.

The only difference with my use of the term "income" is to suggest that there is a steady flow of discretionary income every week or every month, and in order to invest into bitcoin you do not need a steady flow of income.

You just need discretionary funds at the time that you buy. So for example, if you have an extra $10 and you were considering buying a pack of cigarettes, but instead you decided to skip the pack of cigarettes and to buy bitcoin with that $10.  That $10 is discretionary money since you had the option to buy cigarettes or to buy bitcoin with it.  In this example, you chose to buy bitcoin.

[Makus]

[edited out]
....
You are right Futurexxx that having discretionary funds is necessary from the start, and a discretionary income is needed to continue to invest into bitcoin, yet a discretionary income is not needed to get started, only discretionary funds are needed to get started.

Part of the reason that this is important is that people keep mixing up what is needed to get started and what is needed to continue to invest.

Pardon my ignorance, but what is the difference between discretionary funds and income.

Part of the reason that I made that distinction is because members keep suggesting (or claiming) that newbie investors into bitcoin need to have a regular income in order to start investing into bitcoin, and that is not true.

All they need is discretionary funds.. which means that it is funds that are extra after they have accounted for their expenses.

The only difference with my use of the term "income" is to suggest that there is a steady flow of discretionary income every week or every month, and in order to invest into bitcoin you do not need a steady flow of income.

You just need discretionary funds at the time that you buy. So for example, if you have an extra $10 and you were considering buying a pack of cigarettes, but instead you decided to skip the pack of cigarettes and to buy bitcoin with that $10.  That $10 is discretionary money since you had the option to buy cigarettes or to buy bitcoin with it.  In this example, you chose to buy bitcoin.

By the way, a person will be better off if he has a discretionary income so then he can buy bitcoin on a regular basis, such as weekly.  But it is not necessary to have such steady income to get started. The income can be erratic and irregular, yet whenever the guy has some discretionary funds, meaning money that is left over after he has accounted for his expenses, then he can choose to buy bitcoin with that.. or he can choose to buy cigarettes or anything else that he wants (which is the meaning of discretionary).

You're correct JJG anyone with discretionary income can start up a bitcoin investment even without a regular flow of income because, there are persons who don't work on jobs that has a fixed pay however they still make money off contracts or depending on their seriousness for the month. And such person can still make up a discretionary income to invest  in bitcoin but cannot guarantee themselves for a steady income flow. One of the reasons I love bitcoin  is that, we have the opportunity to invest at our convenience  and financial strength without doing more than we should. Beside our wallet should be on self custody  so we take responsibility of our asset.

[icebar]

All they need is discretionary funds.. which means that it is funds that are extra after they have accounted for their expenses.

The only difference with my use of the term "income" is to suggest that there is a steady flow of discretionary income every week or every month, and in order to invest into bitcoin you do not need a steady flow of income.

As far as I can understand from your post, the mistake we often make is that we consider discretionary income in investment, but if we look deeply into the matter, we can see that there is a slight difference that would be discretionary fund. By discretionary income we mean the income that a person receives consistently like weekly or monthly. But when we say discretionary fund, it is an amount after spending all expanses. It can be 10 dollars or 20, any number, and in the case of investing in Bitcoin, we can invest that amount. Discretionary funds can be said to be money that I have no obligation to use. I can spend it wherever I want, according to my wishes, and that money is worthy for Bitcoin investment.

[fullfitlarry]

All they need is discretionary funds.. which means that it is funds that are extra after they have accounted for their expenses.

The only difference with my use of the term "income" is to suggest that there is a steady flow of discretionary income every week or every month, and in order to invest into bitcoin you do not need a steady flow of income.

Yes, I totally agree with this, in the beginning if might confused others as the term, but it's all about semantics. Of course, we can't deny the fact that having a steady income might help, (e.g., DCA’ing $10/week is ideal), but what's important is that you priorities Bitcoin over frivolous spending, when you have that extra money in your pocket. And with that, another key aspect is that Bitcoin is accessible to everyone, for Asia to Africa. What we need is discipline, not just for those who are have a 9-5 job. The real barrier isn't steady income but our mindset. It could be that we heard this excuses, like "I need a salary to invest", this very thought ignores that Bitcoin grows overtime, stacking sats is the key, over time, no matter how small it is. Or to put it this way, Bitcoin return doesn't care about our paycheck, it cares about our time in the market. The longer we stay thru buying, the chances that we will make a good profits in the end. How many times have we heard people being defined by 'diamond hand'? There could really still some skeptics like questioning, 'I live paycheck to paycheck', then track everything, maybe you can find that discretionary money after. Or what if Bitcoin crashes? since this is discretionary funds, then you’re risking money you’d waste anyway. Everything is on our mind, it's the mindset shift that will be a life changing to us if we stick on investing in Bitcoin.

[yixichloro2xx]

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You are right, investing without having a discreet income after spending is risky, investing money that we can lose. If our income is low, we should reduce unnecessary expenses and pay close attention to our skills, as well as take some training that may not yield results now but will be in demand in the future. We should plan not for the present but for the future. It is normal that expenses will continue to increase over time, but as the amount of expenses increases, it would be wise to apply your skills through training to earn additional income. If our income is low now, it is possible to increase it in the future through your skills. Even if this plan does not yield immediate results, it will greatly help in properly planning future investments.

Generally speaking income does not keep up with debasement of the currency (as prices go up), except people who are younger are likely to be able to get greater and greater income by receiving promotions, and like you suggested there are some folks who have high skills and are able negotiate higher wages and/or promotions.

In other words, there are a lot of normal folks who either have fixed incomes (such as persons drawing retirement income and/or pensions that do not tend to adequately adjust for inflation) and persons who have low paying wages and their wage increases are way less than the increases in the cost of living. 

It is wrong to presume that everyone is in a position to negotiate higher wages/income, even if it is possible for some.  There are likely folks in dead end jobs and low paying positions that could put themselves into a position of building their skills and/or experiences so that they can get higher paid jobs and/or promotions.

The relationship between income and currency debasement is indeed very complex and if we really look at it, we'll discover that not everyone's income keeps pace with inflation. Individuals who are on a fixed income, such as individuals who are retirees, often rely on pensions, and they're often faced with the challenges of maintaining their purchasing power as prices rise due to inflation.

Even low wage workers also are faced with the challenges of stagnant income growth, with wage increases, with the inability to keep up with the cost of living. The ability of individuals to negotiate higher wages or securing a promotion is most likely dependent on the individual's circumstances, their skills and also job market conditions.
And even though there's actually a possibility for some folks to potentially take proactive steps towards building and improving their skills and experiences in other to increase their earning opportunity, this approach isn't universally feasible. There are often so many challenges that may likely hinder a lot of individuals from making this move, such as limited access to proper education or training, lack of potential opportunities, family responsibilities and obligations, these things are enough to hinder some individuals from actually moving forward or making some moves to potentially enhance their earning opportunities.

Although, the notion that folks can simply bootstrap themselves out of low paying jobs kinda overlooks the structural issues that potentially contributes to income inequality, because there are certain sectors that are actually characterised by low wages, limited mobility and even limited opportunities for advancement.

The link between income and currency debasement is complex, and in reality, not everyone is  earnings keep pace with inflation. Many people on fixed incomes, such as retirees relying on pensions, often struggle to maintain their purchasing power as prices rise. Low wage workers may also face similar challenges, with stagnant earnings that fail to match the cost of living.....The ability to secure higher wages or promotions depends on personal circumstances, skills, and job market conditions. While some can invest in education or training to improve their earning potential, this isn’t a realistic option for everyone. Barriers such as limited access to quality education, scarce job opportunities, and family obligations can prevent individuals from advancing.

The idea that people can simply  work their way out  of low paying jobs ignores the deeper structural issues driving income inequality. Certain sectors are defined by low wages, limited mobility, and few chances for advancement, thereby also making it difficult for workers to escape these economic constraints.

[Jostern]

All they need is discretionary funds.. which means that it is funds that are extra after they have accounted for their expenses.

The only difference with my use of the term "income" is to suggest that there is a steady flow of discretionary income every week or every month, and in order to invest into bitcoin you do not need a steady flow of income.

I always keep saying it and emphatically saying that the most important thing we need to start investing in Bitcoin is a discretionary income, I understand why it has to be called an income because it’s supposed to be something that is more like a steady flow that comes on a regular basis, considering that this are funds that is probably a left over after paying for all our expenses and the remaining money we can then use it to start investing for someone who is a pleb or someone who wants to continue accumulating on a consistent basis, definitely it all still depends on when we have a discretionary funds, it could be on a monthly basis or a weekly basis that is to justify when we get our income to then get our discretionary income from there, but my understanding is that it’s better to get started instead of thinking otherwise and having different thoughts because for someone who has been accumulating bitcoin for a long time we might probably not be needing a steady income to be able to accumulate that is why you can afford to accumulate little by little, now let’s consider it this way, perhaps I do get my income flow on a monthly basis which I’m usually left with a certain amount of discretionary income at the end of the month, then I have to adjust to some financial circumstances so I could be able to increase my discretionary amount to be able to accumulate more that would also be known as financial management on my own account, now it will require me extra time to be able to put up my expenses, which still will depend on my availability of discretionary income, Because of literally understand that the income might not be steady but we could just adjust our lifestyle to create more income, and if at the end of the month or weekly basis I’m left with some discretionary income why not approach my accumulation.

[JayJuanGee]

All they need is discretionary funds.. which means that it is funds that are extra after they have accounted for their expenses.

The only difference with my use of the term "income" is to suggest that there is a steady flow of discretionary income every week or every month, and in order to invest into bitcoin you do not need a steady flow of income.

As far as I can understand from your post, the mistake we often make is that we consider discretionary income in investment, but if we look deeply into the matter, we can see that there is a slight difference that would be discretionary fund. By discretionary income we mean the income that a person receives consistently like weekly or monthly. But when we say discretionary fund, it is an amount after spending all expanses. It can be 10 dollars or 20, any number, and in the case of investing in Bitcoin, we can invest that amount. Discretionary funds can be said to be money that I have no obligation to use. I can spend it wherever I want, according to my wishes, and that money is worthy for Bitcoin investment.

There is probably no need to get overly caught up on the difference in the terms, yet when guys are proclaiming that there is a need for a steady income before getting started with investing into bitcoin they are wrong.

Sure it is nice to have an income flow  and a good job and even a lot of discretionary income, and that will help guys to buy more bitcoin and to create stronger back up fund systems.

Yet no one is precluded from getting started investing into bitcoin merely because he does not have a steady income... . and he is also not precluded from continuing to invest whenever he has discretionary funds.

There may well be cases that the discretionary funds are not enough and the future employment and the future income are too uncertain to be able to invest into bitcoin, and each person needs to make those kinds of judgements, even though guys continue to be wrong to repeatedly proclaim that guys need to have a steady income before getting started investing into bitcoin.