The importance of Not spending

[Hypnosis00]

The best way to use your money wisely is by planning your budget. No matter what, it’s important to divide your income properly, and there should always be a section for untouchable investments (for example -bitcoin) and savings. Basically, you can spend the rest of your money however you like, but some points must remain unchanged. Every person has different desires and needs that we choose individually, but the system of savings follows the same principle for everyone.

This is why it's never good to rush to invest without securing allocation for your savings that could be use as emergency funds in the future. Once you have stable savings, your investment will continue to be untouchable until you will hit dream goal for bitcoin. That's the secret of successful investors, they invest without doing some withdrawal from their current investment and continue to invest for long term. That way, not only they'll reap life-changing profits in the next couple of years, but they will also remain undistracted throughout their years of investment.

[finaleshot2016]

The best way to use your money wisely is by planning your budget. No matter what, it’s important to divide your income properly, and there should always be a section for untouchable investments (for example -bitcoin) and savings. Basically, you can spend the rest of your money however you like, but some points must remain unchanged. Every person has different desires and needs that we choose individually, but the system of savings follows the same principle for everyone.

This is why it's never good to rush to invest without securing allocation for your savings that could be use as emergency funds in the future. Once you have stable savings, your investment will continue to be untouchable until you will hit dream goal for bitcoin. That's the secret of successful investors, they invest without doing some withdrawal from their current investment and continue to invest for long term. That way, not only they'll reap life-changing profits in the next couple of years, but they will also remain undistracted throughout their years of investment.

True. Never go all in always, you should have a good allocation of money because you don't know what will happen in your life and being ready always is the most important thing in life. This is a survival of the fittest scenario, those who can't sustain their lives when problem occur are doomed. Don't get always FOMO'd on some investments because sometimes it'll just ruin your whole allocation or your budget in different things. I suggest including some real-life investments such as gold or maybe secure some house and lot if you still don't have.

Prioritize those things because it'll help you be more sustainable in life and can get pass through in different problems in life. Always save your money for the best timing, don't spend a lot of money to some useless things.

[Versatile_choice]

It is almost impossible for everyone to hold thier funds without releasing it, because there are a lot of expenses that need to be taken care of which we can not possibly skip this bills all in the name of making savings. So I can't possibly say that we shouldn't spend but I can only advice that we shouldn't spend unwisely but to spend wisely if for example we have pay for all our expenses and maybe we still have enough money Left, instead of wasting it in luxury or non valuable materials it is better we invest it into something maybe (bitcoin) or other business or Investment that seems reliable.

[Natalim]

This is not only for bitcoin but for all types of investment as you won't be successful if you suddenly invest and start withdrawing all your profits just because you have no longer available funds in fiat. Make sure to stabilize your fiat before to start risking some funds into bitcoin. Bitcoin is a long-term investment, and it's still unclear when to experience your first profits, so as much as possible secure a good amount with your fiat first before you decide to risk with bitcoin.

[Sonia_123]

In investing in bitcoin there is no point whatsoever to temper your investment due to not having money, bitcoin investment does not need to be spent or withdraw any amount until you reach your over accumulation stage, if you don't have money to spend for your daily need you can engage yourself in another means of survival by looking for a job to cater for your daily expenses because you might have it in mind meeting and replacing whatever you must have withdrawn but fail because of some unforseen expenses you might engage.

When you start investing in bitcoin avoid withdrawal at any stage because it might just be a trap for your down fall that will make you end up being a low or no coiner, before embackin on bitcoin investment, you have to put necessary measures in place on how to meet up your daily expenses so that you will have a smooth investment journey without mistake or regret.

[Distinctin]

In investing in bitcoin there is no point whatsoever to temper your investment due to not having money, bitcoin investment does not need to be spent or withdraw any amount until you reach your over accumulation stage, if you don't have money to spend for your daily need you can engage yourself in another means of survival by looking for a job to cater for your daily expenses because you might have it in mind meeting and replacing whatever you must have withdrawn but fail because of some unforseen expenses you might engage.

When you start investing in bitcoin avoid withdrawal at any stage because it might just be a trap for your down fall that will make you end up being a low or no coiner, before embackin on bitcoin investment, you have to put necessary measures in place on how to meet up your daily expenses so that you will have a smooth investment journey without mistake or regret.

Plan your investment well. If you want to invest in bitcoin, know where to get and how to utilize your funds. You don't just invest at the moment and make short-term profits and eventually leave, bitcoin cannot guarantee that, but prepare yourself to invest in long term. Make sure to invest using your spare money, which means you don't intend to use it the soonest time possible. Otherwise, if you invest out of peer pressure or envy from those successful bitcoin stories, yet you don't have stable funds for investing, then you will never last longer on the kind of investment you have and therefore won't maximize your potential future profits.

[Maslate]

Before you invest, it is important that you set up a plan for what you're going for, this includes the amount specified on the investment, your other category of money to be used for daily upkeep and that of an emergency fund altogether, the relevance of getting all these into consideration is to help your investment achieve its targets to maturity, when it could have been more profitable, because you can't afford making your investments to hold, then arises some needs you can't afford to hold than to take from what you have invested, not minding even selling at loss.

Invest only when you are capable to invest, both financially and emotionally, otherwise if you enter bitcoin investment unprepared, aside that you might only lose in the process, you cannot also maximize the future outcome of your investment since emergency withdrawals are inevitable in order to finance your daily necessities for survival.

Make a good investment plan so that you will gain a good outcome as well. Secure your investment funds first and study your investment well prior to decision making.

[Grace333]

The best way to use your money wisely is by planning your budget. No matter what, it’s important to divide your income properly, and there should always be a section for untouchable investments (for example -bitcoin) and savings. Basically, you can spend the rest of your money however you like, but some points must remain unchanged. Every person has different desires and needs that we choose individually, but the system of savings follows the same principle for everyone.

Facts bro, budgeting really makes a big difference. Once you have got a clear plan for your income, everything else just starts to fall in place naturally. That part about having an untouchable investment section is good, it’s what separates people who only talk about financial freedom from those actually building it.

Most people spend first and save what is left, which is not always advisable.

[JiiBs]

Facts bro, budgeting really makes a big difference. Once you have got a clear plan for your income, everything else just starts to fall in place naturally. That part about having an untouchable investment section is good, it’s what separates people who only talk about financial freedom from those actually building it.

Most people spend first and save what is left, which is not always advisable.

Spend first to save what is left is no strategy at all. You would be lucky to have anything left if you do have at all. When you leave without budgeting, then you really would be living on a single lifeline. Expenses could be so enormous and unending, you would see yourself having what you would need to use money for every now and then and that alone simply means, you’ve got nothing left at the end of the day.
Should you be interested in saving, you must decide on how much and deduct that value the moment your bankroll is refreshed.

[zeuner]

This would disprove the "currency" characteristic.

[alastantiger]

When you have no more money then you think that you would just get money from your bitcoin holdings, this is where your investments gets in danger. When you have something to pay for and you already dedicated a part of your investment for that make sure that you will either take out the money immediately when the market is up otherwise the market might just decline and you might end up not being able to pay for whatever it is you have to especially if it is time sensitive.

The most appropriate thing to do is to not spend your bitcoin investment at all until you are really ready to take out half or all of it. That way you won't be that affected if the market declines. Now because you need some bills to pay and the market has declined, you do not want to spend your bitcoin anymore but what other choice do you have when you have no more money at the moment?

It is really crucial to be able to hold bitcoin while also having money saved on the side so you won't have to touch your bitcoin investment. Regardless of whether the market is up or down.

Depending on your bitcoin holding for day-to-day expenses is you putting your entire investment at risk, like when bills come up and the market happens to be down, you will end up withdrawing at the worst possible just because you have to spend.

Bitcoin is somthing you hold long-term not something you rely on for urgent payments. if you dont have cash on the side, the market can easily force you into a bad decision.

[Hazink]

This is not only for bitcoin but for all types of investment as you won't be successful if you suddenly invest and start withdrawing all your profits just because you have no longer available funds in fiat. Make sure to stabilize your fiat before to start risking some funds into bitcoin. Bitcoin is a long-term investment, and it's still unclear when to experience your first profits, so as much as possible secure a good amount with your fiat first before you decide to risk with bitcoin.

The good amount to secure with fiat is going to be the backup plan for the investment. If anything happens that you need to deal with money, the fiat comes in and the investor will not be forced to sell off prematurely or below the purchasing price due to an unexpected financial situation that comes knocking on his door. Once you have good paying job, and you have good savings then you can be a long term holder

[Livingleged]

One this u i realises is that Bigi is not a get rich quick scheme but a gradual process that determines perseverance and patience, holding bit coin pays if you can hold for as long as it bulls again. But if you are the type that panic and sell then bitcoin is not for you.

That is why it is always said that we should invest that are not part of money we plan to use soon.but if you are the type that spend after every bearish market then you will always be running at loss and you will not be able to recover your loses.

[Koadharber]

Facts bro, budgeting really makes a big difference. Once you have got a clear plan for your income, everything else just starts to fall in place naturally. That part about having an untouchable investment section is good, it’s what separates people who only talk about financial freedom from those actually building it.

Most people spend first and save what is left, which is not always advisable.

Spend first to save what is left is no strategy at all. You would be lucky to have anything left if you do have at all. When you leave without budgeting, then you really would be living on a single lifeline. Expenses could be so enormous and unending, you would see yourself having what you would need to use money for every now and then and that alone simply means, you’ve got nothing left at the end of the day.
Should you be interested in saving, you must decide on how much and deduct that value the moment your bankroll is refreshed.

Budgeting is really the backbone of financial discipline when you already have a plan for your income you stop being reactive with your money and start being intentional about every expense that’s what helps you stay consistent and actually grow financially.

Most people think they can just save whatever remains after spending but like you said that doesn’t work because there’s always going to be something new to pay for and by the time the month ends you realize there’s nothing left the right approach is to pay yourself first save and invest before touching the rest that way you guarantee progress no matter how small. And that untouchable investment section is key because it builds that mindset of long term planning you stop seeing money as something to just spend and start seeing it as something to multiply budgeting isn’t about restricting yourself it’s about giving your money purpose.

[WatChe]

It is almost impossible for everyone to hold thier funds without releasing it, because there are a lot of expenses that need to be taken care of which we can not possibly skip this bills all in the name of making savings. So I can't possibly say that we shouldn't spend but I can only advice that we shouldn't spend unwisely but to spend wisely if for example we have pay for all our expenses and maybe we still have enough money Left, instead of wasting it in luxury or non valuable materials it is better we invest it into something maybe (bitcoin) or other business or Investment that seems reliable.

It is important to balance out between what you are saving vs what you are spending. To me it's very important to maintain a decent life style because that's why I am working hard daily. What's the point of saving for future, if you don't spend on basic necessitates of life. I also firmly believe that we must live within our earnings and our expenses must not exceed our earnings. Savings are also important specially for people that don't have proper jobs that cover things like medical insurance. Just maintain a balance between savings and spending's to live a happy life.     

[ChocolateBitcoinK]

It is almost impossible for everyone to hold thier funds without releasing it, because there are a lot of expenses that need to be taken care of which we can not possibly skip this bills all in the name of making savings. So I can't possibly say that we shouldn't spend but I can only advice that we shouldn't spend unwisely but to spend wisely if for example we have pay for all our expenses and maybe we still have enough money Left, instead of wasting it in luxury or non valuable materials it is better we invest it into something maybe (bitcoin) or other business or Investment that seems reliable.

It is important to balance out between what you are saving vs what you are spending. To me it's very important to maintain a decent life style because that's why I am working hard daily. What's the point of saving for future, if you don't spend on basic necessitates of life. I also firmly believe that we must live within our earnings and our expenses must not exceed our earnings. Savings are also important specially for people that don't have proper jobs that cover things like medical insurance. Just maintain a balance between savings and spending's to live a happy life.     

We have to spend only the amount of money we earn so that we can live comfortably, we cannot save by putting ourselves in hardship, nor can we indulge in luxury without saving completely. Rather, we have to live well and in the meantime, we have to save as much as will not cause any problem in our daily life. Saving cannot be completely excluded, nor can we hinder our movement by giving excessive importance to saving, but rather, both have to be taken seriously by maintaining a balance.

[Findingnemo]

If you got bills to pay and no more money left with you but got bitcoin or any other asset that can be converted into money then selling it and paying the bills is the appropriate way because adding debt in the name of bills can be a worse financial move that is very important to avoid even compared to holding your assets.

[AmaGold70]

Situations like this are the reasons why I always advise never to invest in Bitcoin if you don't have any other side hustle or an emergency fund somewhere to keep you surviving while you still hold on to your Bitcoin until it is time for you to sell and make reasonable profits from it, before you invest in Bitcoin always have a back up plan because the market is unpredictable and you might be in need of money at the time the market crashes which is obviously not a good time to sell your Bitcoin and besides that I don't see Bitcoin as something you can just use to solve your problems anytime you are in need of money, Bitcoin should be a lifetime changing investment that takes time to mature and give you profits and you can only achieve this on the long term investment goal.

[Egii Nna]

It is really crucial to be able to hold bitcoin while also having money saved on the side so you won't have to touch your bitcoin investment. Regardless of whether the market is up or down.

That is why one of the important aspects of holding Bitcoin is keeping emergency funds apart from your normal savings. This will help you to even forget about the money you invested in Bitcoin, and you will be able to hold it for a long period of time. Even though others tend to invest without having all those plans in place, this is one of the reasons they end up crashing their holdings and selling at a loss.

For people to avoid all these issues, they need not only savings or emergency funds but also discipline. Without discipline, they will not be able to have a successful holding, as they will end up losing a lot of their money because, in most cases, they sell their coins at a loss.

[free-bit.co.in]

Situations like this are the reasons why I always advise never to invest in Bitcoin if you don't have any other side hustle or an emergency fund somewhere to keep you surviving while you still hold on to your Bitcoin until it is time for you to sell and make reasonable profits from it, before you invest in Bitcoin always have a back up plan because the market is unpredictable and you might be in need of money at the time the market crashes which is obviously not a good time to sell your Bitcoin and besides that I don't see Bitcoin as something you can just use to solve your problems anytime you are in need of money, Bitcoin should be a lifetime changing investment that takes time to mature and give you profits and you can only achieve this on the long term investment goal.

Even if we don't invest in bitcoin, setting up a contingency fund is still essential and mandatory. Because life is full of surprises, an emergency fund will help us cope with risks without disrupting other financial plans.

However, we don't need to wait until we have a side job or a stable income to start investing in bitcoin. We can invest whenever we are ready and have a sound financial plan. Since investing is also one of the ways to achieve financial stability, don't delay.