The importance of Not spending

[Rabata]

The key thing is to have a well-structured money management plan—that is, setting aside a specific amount for investing in Bitcoin, a fund for expenses, and a solid emergency fund.

Financial growth requires strategy and good management; without them, you’ll always end up having to dip into your investment.

It is not enough to have income flow fund management. Along with this, you must also have a strong mindset for investing and holding Bitcoin for a long time. Because many people have this proper investment planning and income flow, but after that, when the price drops, they start panic selling. For this, you have to have a strong mindset with patience so that the price drops or increases and you don't have to sell Bitcoin. Most people lose patience and sell Bitcoin, which will never make long-term investment successful. Spending money is very easy, it will certainly be much more difficult to keep it.

[Dickiy]

This is the reason why an investor really needs to prepare an emergency fund before starting his Bitcoin accumulation, with an emergency fund, you don't need to bother with the problem of needs that suddenly occur urgently and actually such needs must exist because Bitcoin accumulation is done in the long run and there will definitely be many moments where we need money urgently for living needs.
On the other hand, it is not uncommon for investors to fail to maintain their accumulation because of this problem, for me an emergency fund has become something that must be prepared before getting involved in investing.

[Emeraldo]

The key thing is to have a well-structured money management plan—that is, setting aside a specific amount for investing in Bitcoin, a fund for expenses, and a solid emergency fund.

Financial growth requires strategy and good management; without them, you’ll always end up having to dip into your investment.

It is not enough to have income flow fund management. Along with this, you must also have a strong mindset for investing and holding Bitcoin for a long time. Because many people have this proper investment planning and income flow, but after that, when the price drops, they start panic selling. For this, you have to have a strong mindset with patience so that the price drops or increases and you don't have to sell Bitcoin. Most people lose patience and sell Bitcoin, which will never make long-term investment successful. Spending money is very easy, it will certainly be much more difficult to keep it.

Investing in the only way you may not be spending a dime from your capital and that is what differentiate someone that is an investor to someone that is a spender. Investing will build your portfolio and make you diversify your investments strategy to create more wealth. Investing in Bitcoin has become one of the ways to have a substantial investment with good output when hold for a long period. People are looking for where to put their money and be making profits gradually but Bitcoin is not in a category of investment when you can be assured that you are going to be profitable with in short period.

[Oluwa-btc]

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.

It's no big deal in trying to get some slash out of your Bitcoin holdings but you should have some savings that you'll run to in times of needs, cause as humans our wants and needs are insatiable that's why emergency funds are meant to be kept separately while investing fir the future so as not to disrupt the investment process. But when you're having nothing as emergency funds as backup it's not bad to get hold ofones holdings.

[fredericktaylor]

It is wise to use discretionary money to buy and hold Bitcoin for the long term. After deducting all our necessary expenses, we can buy Bitcoin with the remaining money and hold it for a long time, when we confidently hold Bitcoin for a long time, no matter how bad the market conditions are, we can reach our specific goals. Bitcoin long-term investment system we have to buy Bitcoin according to the right rules and to make long-term plans successful, it is very important to create an emergency fund along with buying Bitcoin. None of us know what awaits us in the future, so it is very important to face unknown dangers and make long-term investments successful. We have to buy more and more Bitcoin with confidence and hold it for the future, as a result we can achieve success.

[Jody.Drummer]

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.

This emergency fund plays a crucial role in life, especially if we have Bitcoin assets stored. Don't let it happen that when we need money, the solution is to sell our Bitcoin. Although some people might do this because they don't have savings or an emergency fund, which is understandable. But managing everything well is a must. So, if you really want to invest in Bitcoin, we must consider a separate emergency fund or savings. The goal, as you said, is to consider it lost and not think too much about it, especially when we need a large sum of money in an emergency.

[puloweh555]

This is the reason why an investor really needs to prepare an emergency fund before starting his Bitcoin accumulation, with an emergency fund, you don't need to bother with the problem of needs that suddenly occur urgently and actually such needs must exist because Bitcoin accumulation is done in the long run and there will definitely be many moments where we need money urgently for living needs.
On the other hand, it is not uncommon for investors to fail to maintain their accumulation because of this problem, for me an emergency fund has become something that must be prepared before getting involved in investing.

That's right. Prepare an emergency fund, then invest. Before considering investing in anything, there's one far more important question: "If tomorrow I get laid off, my salary is late, or a family member gets sick, will you still be able to breathe easy? In other words do you have savings without having to sell your assets?" If the answer is "not sure," it means that what you need to prioritize isn't your investment assets but your emergency fund.

Don't force yourself to invest if your budget allocation isn't correct, because investing is unpredictable and carries significant risks. So rethink your financial management before investing.

[Juicyhome]

It's no big deal in trying to get some slash out of your Bitcoin holdings but you should have some savings that you'll run to in times of needs, cause as humans our wants and needs are insatiable that's why emergency funds are meant to be kept separately while investing fir the future so as not to disrupt the investment process. But when you're having nothing as emergency funds as backup it's not bad to get hold ofones holdings.

At times your needs might extend your emergency money and when you have no option else where than your investment, I'll advice you sell and sort it out, we live for the moment, we still have the opportunity to buy , but we must live to buy, if it's life threatening issues you're allowed to get your investment funds, don't be selfish with your health.

We save money for the future, the future is tomorrow and if you need it to take care of yourself, Bitcoin is still very fresh for us to buy, when you sell off your investment, have plan to buy and replace it. Never stay without having Bitcoin investment.

[Hanadawa]

-snip-

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.

I remember Warren Buffett's words. The point is, when investing, don't wait for the money left over from your salary. Instead, set aside your salary for investing, and then use the rest for your monthly needs. I think that makes sense. If you use your salary for monthly expenses first, there will always be unexpected needs, and ultimately you'll have little left. But if you allocate, for example, 30% of your salary to investing and the remaining 70%, you'll have a clear boundary in your mind, allowing you to see what you truly need. I've tried this, and it works. If I have $200, I might buy a lot of things I don't really need. But if I allocate $60 to investing, with $140 left in my pocket, I'll realize there are unimportant things in my monthly expenses.

[bubilas]

It is wise to use discretionary money to buy and hold Bitcoin for the long term. After deducting all our necessary expenses, we can buy Bitcoin with the remaining money and hold it for a long time, when we confidently hold Bitcoin for a long time, no matter how bad the market conditions are, we can reach our specific goals. Bitcoin long-term investment system we have to buy Bitcoin according to the right rules and to make long-term plans successful, it is very important to create an emergency fund along with buying Bitcoin. None of us know what awaits us in the future, so it is very important to face unknown dangers and make long-term investments successful. We have to buy more and more Bitcoin with confidence and hold it for the future, as a result we can achieve success.

I'm not a fan of keeping money in reserve without making a profit. But sometimes it's truly necessary, and saving helps accumulate the amount in this fund so it can grow. The reason for maintaining this fund is simple reinsurance in the cryptocurrency trading market. If Bitcoin is falling and I'm in a position, I always try to average out.
And I'm happy when I've saved and accumulated enough money to do so. I've started averaging out many times when Bitcoin has fallen by 20 percent, and this has always resulted in additional income. It also gives me peace of mind when crypto prices fall.

[Uhwuchukwu53]

While it's advisable to keep holding not to spend, it's also advisable to keep oneself alive while holding, nothing bad if one sell parts of holding while in destress where no other means can be used, life is full of challenges despite many plan man may put in place towards certain investment, there are times where those plan do failed and no alternative than touching investment or even take lone using investment as collateral, but it's better to sell part of one investment than even take loan that will incure more debt. The only problem of touching an investment mostly like Bitcoin is when the investor lack the charisma of not buying after the sell, but investor will mind if buying, I don't see much issue with that.

[Inwestour]

While it's advisable to keep holding not to spend, it's also advisable to keep oneself alive while holding, nothing bad if one sell parts of holding while in destress where no other means can be used, life is full of challenges despite many plan man may put in place towards certain investment, there are times where those plan do failed and no alternative than touching investment or even take lone using investment as collateral, but it's better to sell part of one investment than even take loan that will incure more debt. The only problem of touching an investment mostly like Bitcoin is when the investor lack the charisma of not buying after the sell, but investor will mind if buying, I don't see much issue with that.

I've always said that it's very important to maintain a comfortable standard of living, so that you get everything you need without your desire to save money negatively impacting your life. If you want to save more, then focus on earning more. There are many ways to do this: you can find a better job, you can take on extra work, or even consider starting your own business. Any of these options would be better than restricting yourself in some way just to save a little more.

[rachael9385]

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.

when you start up a bitcoin investment it's important to always plan to do a long term investment, meaning on mo condition should you sell your coins if It is up to the fixed time that you have planned to invest it. That's why it is very crucial to set aside the money meant for  emergencies and other things that are important for you to take care of. keep holding to get the benefits in the long run instead of spending

[imamusma]

I've always said that it's very important to maintain a comfortable standard of living, so that you get everything you need without your desire to save money negatively impacting your life. If you want to save more, then focus on earning more. There are many ways to do this: you can find a better job, you can take on extra work, or even consider starting your own business. Any of these options would be better than restricting yourself in some way just to save a little more.

I agree, you shouldn’t sacrifice a comfortable life today just because you are prioritizing saving more than usual. The purpose of saving is to secure the future, but we must realize that there is no guarantee we will even reach that point.
Therefore, it is better to look for ways to earn additional income, as this is a much wiser solution, so you don’t have to cut back and lower your standard of living in a way that may make you and your family uncomfortable.

[Dickiy]

This is the reason why an investor really needs to prepare an emergency fund before starting his Bitcoin accumulation, with an emergency fund, you don't need to bother with the problem of needs that suddenly occur urgently and actually such needs must exist because Bitcoin accumulation is done in the long run and there will definitely be many moments where we need money urgently for living needs.
On the other hand, it is not uncommon for investors to fail to maintain their accumulation because of this problem, for me an emergency fund has become something that must be prepared before getting involved in investing.

That's right. Prepare an emergency fund, then invest. Before considering investing in anything, there's one far more important question: "If tomorrow I get laid off, my salary is late, or a family member gets sick, will you still be able to breathe easy? In other words do you have savings without having to sell your assets?" If the answer is "not sure," it means that what you need to prioritize isn't your investment assets but your emergency fund.

Don't force yourself to invest if your budget allocation isn't correct, because investing is unpredictable and carries significant risks. So rethink your financial management before investing.

Exactly, I like your comment above, thank you for explaining it in more detail my friend and that's what I mean why an investor really must have an emergency fund before starting his investment, experiencing unexpected things along the way is something that is very possible, such as losing a job that you said which makes us no longer have an income or other things such as urgent fund needs such as paying hospital bills.
The point is that there are so many things that must be prepared before you decide to start your investment and the most important thing is to prepare an emergency fund.

[Rockstarguy]

This is the reason why an investor really needs to prepare an emergency fund before starting his Bitcoin accumulation, with an emergency fund, you don't need to bother with the problem of needs that suddenly occur urgently and actually such needs must exist because Bitcoin accumulation is done in the long run and there will definitely be many moments where we need money urgently for living needs.
On the other hand, it is not uncommon for investors to fail to maintain their accumulation because of this problem, for me an emergency fund has become something that must be prepared before getting involved in investing.

Investing is not just something you wake up and make decisions about without proper planning. You must be prepared financially, and you must be equipped with the necessary level of understanding; wherever you are lacking, it will definitely affect your investment. Understanding is key and very important; one needs to have it in mind. While investing, you must keep in mind the goal of increasing your income and maintaining an emergency fund, which will help prevent you from tampering with your Bitcoin investment.

[eightdots]

This is the reason why an investor really needs to prepare an emergency fund before starting his Bitcoin accumulation, with an emergency fund, you don't need to bother with the problem of needs that suddenly occur urgently and actually such needs must exist because Bitcoin accumulation is done in the long run and there will definitely be many moments where we need money urgently for living needs.
On the other hand, it is not uncommon for investors to fail to maintain their accumulation because of this problem, for me an emergency fund has become something that must be prepared before getting involved in investing.

Investing is not just something you wake up and make decisions about without proper planning. You must be prepared financially, and you must be equipped with the necessary level of understanding; wherever you are lacking, it will definitely affect your investment. Understanding is key and very important; one needs to have it in mind. While investing, you must keep in mind the goal of increasing your income and maintaining an emergency fund, which will help prevent you from tampering with your Bitcoin investment.

It's important for investors to be able to sustain their investments because investments abandoned prematurely fail to reach their goals. Restarting an investment can sometimes be difficult. Financial preparedness enables you to do many things. It ensures the continuation of investments and the fulfillment of certain needs. Since continuity in investment is important, financial preparedness is crucial for the future of the investment.

If you find a way to increase your income while investing, this gives you an advantage. Efforts made to ensure the continuity of the investment make it easier to achieve your goals.

[Dickiy]

This is the reason why an investor really needs to prepare an emergency fund before starting his Bitcoin accumulation, with an emergency fund, you don't need to bother with the problem of needs that suddenly occur urgently and actually such needs must exist because Bitcoin accumulation is done in the long run and there will definitely be many moments where we need money urgently for living needs.
On the other hand, it is not uncommon for investors to fail to maintain their accumulation because of this problem, for me an emergency fund has become something that must be prepared before getting involved in investing.

Investing is not just something you wake up and make decisions about without proper planning. You must be prepared financially, and you must be equipped with the necessary level of understanding; wherever you are lacking, it will definitely affect your investment. Understanding is key and very important; one needs to have it in mind. While investing, you must keep in mind the goal of increasing your income and maintaining an emergency fund, which will help prevent you from tampering with your Bitcoin investment.

Of course, everything must be done based on the right knowledge because that is what will make everything smooth and develop, besides that as you said that planning is also no less important along with self-preparedness in terms of mental and psychological, and in investment in my opinion besides capital and discipline mental strength is also very important because in most cases I often see investors who ultimately fail by selling all their assets because of fear when the market starts to move down.

So actually the failure of investors is not only because of things that happen urgently such as needing money but a weak mentality can also thwart their investment plans.

[Xcode7]

This is the reason why an investor really needs to prepare an emergency fund before starting his Bitcoin accumulation, with an emergency fund, you don't need to bother with the problem of needs that suddenly occur urgently and actually such needs must exist because Bitcoin accumulation is done in the long run and there will definitely be many moments where we need money urgently for living needs.
On the other hand, it is not uncommon for investors to fail to maintain their accumulation because of this problem, for me an emergency fund has become something that must be prepared before getting involved in investing.

Investing is not just something you wake up and make decisions about without proper planning. You must be prepared financially, and you must be equipped with the necessary level of understanding; wherever you are lacking, it will definitely affect your investment. Understanding is key and very important; one needs to have it in mind. While investing, you must keep in mind the goal of increasing your income and maintaining an emergency fund, which will help prevent you from tampering with your Bitcoin investment.

This is absolutely necessary because it's impossible to start investing without an emergency fund. It's certainly very risky, and I'm even certain the investment will be disrupted and the goal won't be achieved.
An emergency fund is crucial not only to avoid investment disruptions, but also because life is full of unforeseen circumstances, requiring us to be smart about managing our finances.

[Cheema02]

While it's advisable to keep holding not to spend, it's also advisable to keep oneself alive while holding, nothing bad if one sell parts of holding while in destress where no other means can be used, life is full of challenges despite many plan man may put in place towards certain investment, there are times where those plan do failed and no alternative than touching investment or even take lone using investment as collateral, but it's better to sell part of one investment than even take loan that will incure more debt. The only problem of touching an investment mostly like Bitcoin is when the investor lack the charisma of not buying after the sell, but investor will mind if buying, I don't see much issue with that.

You're right about the using of investment in distress conditions. It's generally advisable to holding a investment for a long time and its shows your strength and ability about business. And I think it's not bad to selling a part of your investment in difficult conditions when there is no option left because life is very unpredictable and we don't know how our future looks like, that's the reason sometimes over strong financial plans fails due some challenges. And in such conditions there is no option left to use a small portion of our assets. Infact it's more beneficial to use a small portion of our investment other than to get loan that creata further financial pressure. So the learning point is that the real issues behind touching investments like Bitcoin is not the sale itself but the actual thing is mindset after that.