The importance of Not spending

[leonair]

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.

Investment requires a proper guideline and a proper roadmap. Otherwise, no one gets good results from his investment. Investing is very easy but successfully generating profit from that investment is not easy. The more someone can invest with a good investment plan, the better results he gets. There are many who think of investing as something that they will invest and book a profit after a certain period of time. This is very simple math but the reality is not like that.

[Asuspawer09]

I remember when I was just a student investing in Bitcoin, I was surely earning a huge amount with just investing and it really feels like im a great investors that I crack the market secret since im just a student you dont really expect me to earn a huge amount but I just did which makes me somehow a greedy, not thinking about saving or something, and not really prepared of investing. I always do this when I want to buy or need some money since I invest on Bitcoin and my Bitcoin is already earn some profit, I always withdraw it anytime thinking that profit is still a profit.

But after years of investing I just realize that I just lose a huge money with this, Its really late when I learn about finances, When investing in cryptocurrency make sure that you already have the financial foundation, cryptocurrency is a risky investment compared to the typical assets like stock market, gold, real estate etc. it is much volatile, so it is really worst when you are force to sell because you need money and you sold your Bitcoin just because you dont have a emergency fund or any savings. Its a good practice to have a solid foundation first before even starting to invest so that you have a solid base and you could invest and aim for long term which mean higher profit in the future.

[Doll2233]

I remember when I was just a student investing in Bitcoin, I was surely earning a huge amount with just investing and it really feels like im a great investors that I crack the market secret since im just a student you dont really expect me to earn a huge amount but I just did which makes me somehow a greedy, not thinking about saving or something, and not really prepared of investing. I always do this when I want to buy or need some money since I invest on Bitcoin and my Bitcoin is already earn some profit, I always withdraw it anytime thinking that profit is still a profit.

But after years of investing I just realize that I just lose a huge money with this, Its really late when I learn about finances, When investing in cryptocurrency make sure that you already have the financial foundation, cryptocurrency is a risky investment compared to the typical assets like stock market, gold, real estate etc. it is much volatile, so it is really worst when you are force to sell because you need money and you sold your Bitcoin just because you dont have a emergency fund or any savings. Its a good practice to have a solid foundation first before even starting to invest so that you have a solid base and you could invest and aim for long term which mean higher profit in the future.

I will not spend this Bitcoin at any time because that is best investment for us and I saw before Many years when its price was low and people think that they will sell this Bitcoin because Market will be end but we saw big pump in the market when Donald trump came in the power because he is in support of cryptocurrency and he invested his lot of money in that . People are earning more and more in cryptocurrency because that is real cryptocurrency and after that we saw many real and fake projects but is best project which we saw in the market. People want to get profit and when they are in profit they want to sell the Bitcoin which is not good mindset because at any time, Bitcoin price will go up and we can see price increase due to news because there are many news which are influencing the Bitcoin.

[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.

If you have enough cash on the side, you can leave your Bitcoin alone and not panic when the market moves. That separation protects your investment and gives you peace of mind. In a stable situation, that approach would work but alot of people do not live in that stable space. So when money runs out and bills cannot wait, Bitcoin becomes the last option unfortunately. In that moment, you will not think about the market, you will just be thinking about survival. having no buffer will always make you break disciple because until basic needs are covered with steady income or savings, holding any volatile asset will always feel fragile.

[terrific]

I remember when I was just a student investing in Bitcoin, I was surely earning a huge amount with just investing and it really feels like im a great investors that I crack the market secret since im just a student you dont really expect me to earn a huge amount but I just did which makes me somehow a greedy, not thinking about saving or something, and not really prepared of investing. I always do this when I want to buy or need some money since I invest on Bitcoin and my Bitcoin is already earn some profit, I always withdraw it anytime thinking that profit is still a profit.

You're still young that time and I think everyone who's got bitcoin when they were younger did a mistake.
It's being tempted to sell so that we can buy the material thing that we like to have in possession.
But that thought of profit is profit is a good one. I think you just have to do better next time when you accumulate more bitcoin.
While no one will stop you from taking profits, the longer you hold, the better profit you'll make.

[Mame89]

If you have enough cash on the side, you can leave your Bitcoin alone and not panic when the market moves. That separation protects your investment and gives you peace of mind. In a stable situation, that approach would work but alot of people do not live in that stable space. So when money runs out and bills cannot wait, Bitcoin becomes the last option unfortunately. In that moment, you will not think about the market, you will just be thinking about survival. having no buffer will always make you break disciple because until basic needs are covered with steady income or savings, holding any volatile asset will always feel fragile.

We must have a plan in life including when it comes to finances. Every dollar you earn should have a purpose and you'll use it for the future. If you only think about saving, saving, and saving, without understanding the purpose of saving that's also a mistake. Even if you're investing without having savings it's also a mistake. Therefore savings and investments must be balanced. This is useful for avoiding panic when investing which could lead to selling assets.

So earning, saving, and investing must be accompanied by the ability to determine financial goals. Don't spend all your money on investments leave a little aside for when market fluctuations occur. Money must be allocated properly for emergency savings and investments to avoid disrupting your investments. Without savings your finances will be in disarray and when a downturn occurs, you won't be able to benefit from it. Therefore financial management is crucial when entering the world of investing especially for the long term.

[junder]

Investment requires a proper guideline and a proper roadmap. Otherwise, no one gets good results from his investment. Investing is very easy but successfully generating profit from that investment is not easy. The more someone can invest with a good investment plan, the better results he gets. There are many who think of investing as something that they will invest and book a profit after a certain period of time. This is very simple math but the reality is not like that.

I think investing itself is not easy, although everyone can do it, not everyone will be able to do it well. I think that even though this investment can be profitable but we shouldn't just think about my profit, we have to think about how we can still do and run it well, in investing of course patience is needed and not everyone can do it patiently, moreover the existence of profits usually makes some people unable to wait to get it.

[sunsilk]

If you have enough cash on the side, you can leave your Bitcoin alone and not panic when the market moves. That separation protects your investment and gives you peace of mind. In a stable situation, that approach would work but alot of people do not live in that stable space. So when money runs out and bills cannot wait, Bitcoin becomes the last option unfortunately. In that moment, you will not think about the market, you will just be thinking about survival. having no buffer will always make you break disciple because until basic needs are covered with steady income or savings, holding any volatile asset will always feel fragile.

There has to be a separation for the cash for emergencies and for the investments that we're doing in Bitcoin. While others can have difficulty in doing that.

But it's a way to protect our Bitcoin investments. We're not going to panic and we're not going to be forced to use it if ever some unforeseen events came to us.

Having a reserve of cash or money from other investments to protect your BTC is a good way so that you'll be consistent for having it.

[fruktik]

No body should live on their investments in Bitcoin or any other investments that you have been able to get. This is because taking money out of your investment to be solving immediate needs is one of the fastest ways to go broke because no business can grow when money is gradually and steadily taken away from it.

Bitcoin investment should not only be the only investment that you should  get involved in, nobody grow to accumulate any sustainable wealth by only having one streams of financial. Wealth creation involves you having multiple streams of income.

How many sources of income do you have? I'd be interested to read about that. Perhaps you have a full-time job and a side hustle? Perhaps you have several full-time, permanent jobs. However, that kind of work is physically exhausting and leads to burnout. Money shouldn't work for you, but rather money should work for you. That's the best formula.

And one more thing... How many sources of income do you need to be satisfied? 3, 5, or 10?

[ASloveapg]

Investment requires a proper guideline and a proper roadmap. Otherwise, no one gets good results from his investment. Investing is very easy but successfully generating profit from that investment is not easy. The more someone can invest with a good investment plan, the better results he gets. There are many who think of investing as something that they will invest and book a profit after a certain period of time. This is very simple math but the reality is not like that.

I think investing itself is not easy, although everyone can do it, not everyone will be able to do it well. I think that even though this investment can be profitable but we shouldn't just think about my profit, we have to think about how we can still do and run it well, in investing of course patience is needed and not everyone can do it patiently, moreover the existence of profits usually makes some people unable to wait to get it.

Bitcoin investment is for everyone, anyone can invest here, but investing is easy, but holding on to it is the biggest challenge. Those who can hold on here win here, those who can invest here with the mentality of holding on and the courage to avoid volatility and keep themselves stable in the long term, are the ones who can ultimately achieve good results here. But not everyone can hold on, everyone's mentality is different, and not everyone has the ability to be patient in the long term, and that is why even though Bitcoin investment is open to everyone, many cannot survive here.

[pusaka]

No body should live on their investments in Bitcoin or any other investments that you have been able to get. This is because taking money out of your investment to be solving immediate needs is one of the fastest ways to go broke because no business can grow when money is gradually and steadily taken away from it.

Bitcoin investment should not only be the only investment that you should  get involved in, nobody grow to accumulate any sustainable wealth by only having one streams of financial. Wealth creation involves you having multiple streams of income.

How many sources of income do you have? I'd be interested to read about that. Perhaps you have a full-time job and a side hustle? Perhaps you have several full-time, permanent jobs. However, that kind of work is physically exhausting and leads to burnout. Money shouldn't work for you, but rather money should work for you. That's the best formula.

And one more thing... How many sources of income do you need to be satisfied? 3, 5, or 10?

I think if our physical abilities are unlimited and our time is unlimited, then we will never be satisfied with the income or work that we can do. But unfortunately our physical strength and time don't allow us to do that, so even if there are jobs that can be done, there are only 2 or 3 of them.

It's different if we manage a business, because we can grow the business. For example, if we have a restaurant, we can open several branches to increase our income.

In relation to investment, it will be more comfortable when we do not have problems with our income, it will make our investment will not be disturbed.

[Youngrebel]

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.

Because of all these kind senerios that the need for other streams of income are required.  If you have more than one stream of income as an individual it is easier  for you to save and be very milch dedicated to it.  You can decide to divide your incomes into different means of spending. Take for instance you have about 3 sources of income, you can decide to use 1 for savings, one for daily expenses and the last one kept aside for emergencies.  By that you have make life easier for yourself and you'll hardly runinto any of such situations as encroaching into your savings when it is not time

[Samlucky O]

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?

HODLing Bitcoin is not a do or die affair, Bitcoin investment is an individual journey, and everyone's perspective can not be thesame. If you believe that we don't need to spend our Bitcoin unless we need to sell half or all of it, then you are talking from your own narrative and not a general narrative. I agree with you that we invest in Bitcoin to hold for a period of long time or a long term horizon but, that doesn't mean that challenges will not come along. There are times when you are out of emergency or reserved fund, and instead of you to borrow or take loan you will just sell %10 or more of your Bitcoin and settled some necessities instead of selling half or all. What if what you have is Bitcoin that is worth over $10m and you just have a problem of $1k, will use because of your decision and sell $5m worth of Bitcoin? No I guess. So we we sell base on our needs and circumstances and not by what we promise ourselves.

[tbterryboy]

Not spending is not something you can do if it is not in your hands. Sometimes life throws things at you that you have to spend. For example, I haven't lived a "luxury" life for 5+ years, and I have been spending my money on debt mostly, that is not something I did for fun, it was a "must" and now I am back to normal but that doesn't mean things can get that easy, we have to realize sometimes things are hard and we have to learn to live with it. I get that it may not be simple and we may not see things change that easily but as long as we do what we do, then I think we are going to be fine.

[imthegreat]

I completely agree that it's important not to spend money on short-term desires that could become strong investments in the future. But at the same time, I want to point out that this shouldn't be taken to the extreme, because I've seen people who owned cars and apartments beg everyone in the office for coffee or tea, completely embarrassing themselves, but they didn't care. They were saving money.
I believe this is extreme frugality, and we should respect ourselves and not act as if money is the most important thing in life. After all, we buy the most important things with this money, and we shouldn't turn that into our meaning in life.

[purple_sparkles]

First of all, it’s important to understand what money is actually for, to plan and allocate your finances properly. There should be savings and investments, and your essential needs must also be covered. Based on how much money goes toward these areas, you can then plan your spending on various wants and pleasures. I understand that it’s necessary to be practical and economical, but if you spend your entire life only saving, you may never truly enjoy the results of your efforts, and then it all loses its meaning. We save money in order to live better later, yet in the end that moment often never comes, the moment when you finally allow yourself to live that better life. As a result, the energy, motivation, and strength to move forward may also fade. Everything should be balanced. And if you decide to fully dedicate yourself to earning and saving, there should be some kind of deadline so that you clearly understand where you are headed, what you are striving for, how long you need to sustain such an intensive process, and most importantly what the final goal and reward will be.

[Cheema02]

Not spending is not something you can do if it is not in your hands. Sometimes life throws things at you that you have to spend. For example, I haven't lived a "luxury" life for 5+ years, and I have been spending my money on debt mostly, that is not something I did for fun, it was a "must" and now I am back to normal but that doesn't mean things can get that easy, we have to realize sometimes things are hard and we have to learn to live with it. I get that it may not be simple and we may not see things change that easily but as long as we do what we do, then I think we are going to be fine.

Your point is really solid about how to spend money in accurate way. As we know we have different situations in different time sometime life forces to spend but we want to or not. Basic needs are not for luxury or fun its actually about survival and Responsibilities. It's not means that if you are living for years without luxury, you are loser but it's actually showing your discipline. If we thought with money, we get rid of problems its wrong, problems can still come and it's a part of life. I think every individual paying his best, but we can't control everything we control only efforts with good mindset. If we stay focused and keep going toward goals, we must achieve it. The learning point is that with the time efforts will helps slowly get better.

[junder]

Bitcoin investment is for everyone, anyone can invest here, but investing is easy, but holding on to it is the biggest challenge. Those who can hold on here win here, those who can invest here with the mentality of holding on and the courage to avoid volatility and keep themselves stable in the long term, are the ones who can ultimately achieve good results here. But not everyone can hold on, everyone's mentality is different, and not everyone has the ability to be patient in the long term, and that is why even though Bitcoin investment is open to everyone, many cannot survive here.

That's what I mean, to make an investment, yes everyone can do it but to run it not everyone will be able to even though everyone can make an investment. The difference from mentality, this mindset determines the future, if indeed the person who makes the investment is not good at controlling himself, for example from the mentality, it will interfere with the investment made.

It's true what you said, not everyone will succeed because everyone's mentality is different. Because being patient in the long run is not trivial.

[Chilwell]

If you have enough cash on the side, you can leave your Bitcoin alone and not panic when the market moves. That separation protects your investment and gives you peace of mind. In a stable situation, that approach would work but alot of people do not live in that stable space. So when money runs out and bills cannot wait, Bitcoin becomes the last option unfortunately. In that moment, you will not think about the market, you will just be thinking about survival. having no buffer will always make you break disciple because until basic needs are covered with steady income or savings, holding any volatile asset will always feel fragile.

This was why in cryptocurrency there is always a warning that says invest what you can afford to lose, I think by understanding this statement and also following district lye, i have confidence that no matter what, you will not run back to Bitcoin. Why I said this, if anybody want to calculate a certain amount that he can afford to lose, I don't think it's above 10%, which is why I'm so confident that if anyone can follow the rules, I'm 100% certain that they will not go back to Bitcoin when they are facing a lot of challenges because the percentage is very little and you can decide to ignore it and get another way.

So many people that encounter this problem are usually people that took all their capital to invest in Bitcoin, in this scenario there will be problem because almost all your capital or all what you have in One Direction, definitely anytime you have problem you will equally run to that direction. This is because there's no proper planning for investment.

[Rabata]

I completely agree that it's important not to spend money on short-term desires that could become strong investments in the future. But at the same time, I want to point out that this shouldn't be taken to the extreme, because I've seen people who owned cars and apartments beg everyone in the office for coffee or tea, completely embarrassing themselves, but they didn't care. They were saving money.
I believe this is extreme frugality, and we should respect ourselves and not act as if money is the most important thing in life. After all, we buy the most important things with this money, and we shouldn't turn that into our meaning in life.

There are some people who do not spend even on their basic needs. If such people save, I cannot accept it as good. People definitely need to save. Saving is necessary for the security of their wealth. But if they continue to save at the expense of their own dignity or without doing what they naturally need, then there is no benefit in saving. Everyone should save a part of their discretionary income and at the same time it is necessary to improve their personal behavior. Unnecessary expenses in saving are certainly not acceptable but necessary expenses cannot be ignored either. It is necessary to give utmost importance to security of their wealth by reducing expenses and at the same time one should maintain one's dignity.