The Importance Of A Good Cash Flow Management To Our Bitcoin Journey

[Joeboy]

When it comes to investing in Bitcoin, I personally know some folks out there who often  get it wrong, by neglecting the importance of a good cash flow management and only prioritize how how much Bitcoin they can buy and when and where they can buy it.....Now when we talk about Cash Flow Management, it talks about understanding the flow of your money in such a way that you know how much you earn(receive) and how much goes out (expenses) it also talks about properly identifying your main expenses and how to plan and channel the left over money from your income in such a way that keep you stable and consistent in the long run.

Good flow management isn't just needed during our Bitcoin journey, it is also important prior to it.......This is coz starting out without properly managing your cash-flow, will make you struggle to find your discretionary income( which is the left over money that is need for investment), and even if maybe by chance you realize your discretionary income, you may be probably forced to sell.off during any small financial distress, coz you must have mixed up one funds for the other. Truth be told lots of folks  tend to experience lots inconsistency and regrets in their bitcoin journey, not becoz they don't believe in it, but coz they don't know how to properly manage their cash flow and as such ends up mixing up their investment money with their money for spending.

That is why if we really want a long term successful Bitcoin journey, in addition to all other necessities, it also important that we practice a good cashflow management.

[Hypnotizer]

Having a good investment plan covers all this areas, and that is why before you start your bitcoin investment journey, you need a better investment plan that align with your finances.

I once create a thread that explain how pesin go fit create an investment plan wey go fit better with his finance and e no go cause any burden or situations that will make the goal unarchivable.


Going back to the topic, having a good cash flow management is very much important in every type of investment that requires long term consistency in investment and Hodling because if you don’t have cash flow management, how do you want to keep up with your expenses? As the OP has highlighted, cash flow management should be considered in every investment to avoid any situationship wey go make you no fit keep up to the investment again.

[Marvelockg]

That is why if we really want a long term successful Bitcoin journey, in addition to all other necessities, it also important that we practice a good cashflow management.

it is only a nonchalant investor that does not pay attention to details as this and for such an individual, he can only invest for so long afterwards his inability to effectively manage his cash flow will tell on his investment. there is the general saying that goes that he that has failed to plan has invariably planned to fail and that without missing words.

proper capital management, proper budgeting, making allocation for an emergency fund as well as setting up everything that helps give a successful investment all contribute to produce a seamless investment flow.