Bitcoin Accumulation Is Easier When Your Finances Are in Order

[Mame89]

One of the worst things that can happen is if you have to sell your Bitcoin in a down market. Having your finances in order makes it so you will never fall victim to this. That is another plus to having sound financial footing.

I think that not all those who sell at a dump are sad or feeling that it is the worst moment of their life but it is just that they may need a money urgently and can not afford to wait for the market to recover again. Some sells too thinking that the price will drop more. Even though it may be sad since they can lost some but the feeling is more saddening if they will just there and watch how the price really drops. Even though they won't look at it, the worry will still be there. There are really people like this that are still weak, mentally and emotionally.

Without proper financial management you'll inevitably make wrong decisions due to emotional influences and a weak mentality. That's why investing in Bitcoin requires careful financial allocation especially since Bitcoin doesn't require a large amount of capital although having a large amount is preferable. However you can invest in Bitcoin with any amount you're prepared to lose by using the DCA strategy which is the best strategy.

Good financial management allows you to allocate your income across various aspects including investing and having an emergency fund. This way when the market is volatile you won't have to worry about selling it making holding Bitcoin more comfortable for the long term. Essentially in all aspects if you are smart about managing your finances well it will make it easier for you to manage your assets without having to sell them when a downturn occurs.

[Ziskinberg]

Even you are making a million per month, you will feel that you are not ending the months with significant money at hand to do non-immediate or for unusual things like saving for your heirs. I mean, the economy status for everyone is same regardless of your salary is $1k per month or $100k.

So, you need to plan for your saving within your budget. Because, with your income of $10k, you cannot plan for bitcoin accumulation for $5k or $8k. It means, if you have plan and will, you may start accumulating bitcoin from today even for $5 (not 5k or 50 or 500). It means, accumulation alone is important  here and not your salary level or not your excess fund at the month's end.

Rich people do not guarantee that they also have rich bitcoin investment. Same with the poor ones, we can't hold assurance that they are only making small amount of bitcoin investment.

It all boils down how these different life's status able to manage their finances. If you prioritize investing in bitcoin and delay the other things, you will be able to build a good bitcoin portfolio. But despite being rich, you also have to pay a lot of bills and just only left a small amount of funds for bitcoin, then your portfolio will not be as much compared to those who always prioritize buying bitcoin and accumulate every now and then.

[Pandu Geddon]

Rich people do not guarantee that they also have rich bitcoin investment. Same with the poor ones, we can't hold assurance that they are only making small amount of bitcoin investment.

It all boils down how these different life's status able to manage their finances. If you prioritize investing in bitcoin and delay the other things, you will be able to build a good bitcoin portfolio. But despite being rich, you also have to pay a lot of bills and just only left a small amount of funds for bitcoin, then your portfolio will not be as much compared to those who always prioritize buying bitcoin and accumulate every now and then.

I get confused. Anyone can indeed invest in Bitcoin, including poor people. But how can poor people manage their money well while prioritizing investing in Bitcoin? In my view, poor people are indeed more careful in managing their money. But most of their income is spent on necessities, leaving little for urgent needs. Some poor people will even only prioritize food needs because their money is only enough for that. How can poor people manage their money to prioritize investing in Bitcoin?

[Mr_Brilliant$]

Rich people do not guarantee that they also have rich bitcoin investment. Same with the poor ones, we can't hold assurance that they are only making small amount of bitcoin investment.

It all boils down how these different life's status able to manage their finances. If you prioritize investing in bitcoin and delay the other things, you will be able to build a good bitcoin portfolio. But despite being rich, you also have to pay a lot of bills and just only left a small amount of funds for bitcoin, then your portfolio will not be as much compared to those who always prioritize buying bitcoin and accumulate every now and then.

I get confused. Anyone can indeed invest in Bitcoin, including poor people. But how can poor people manage their money well while prioritizing investing in Bitcoin? In my view, poor people are indeed more careful in managing their money. But most of their income is spent on necessities, leaving little for urgent needs. Some poor people will even only prioritize food needs because their money is only enough for that. How can poor people manage their money to prioritize investing in Bitcoin?

Me the way i see this thing ehn, when it comes to poor people investing in Bitcoin, it is not something they should expect to achieve in one day or a one day thing…. Because it will not realistic like that.. For someone that is already struggling with bill and all of that, building and achieving their Bitcoin investment plan will take good number of time and patience, and even steady effort…

Most of the time, their focus will naturally be on basic needs and all. And that is not wrong..  But if they are determined, they can slowly start building their finances first.. With maybe small saving here and there, maybe trying to learning additional skill, I don’t know, just something that will increase their income gradually..  and with time they will meet up with their investment goals..
It might not be a solid or heavy investment at the beginning, and that is okay. At least it is something.

[Maus0728]

It's not only easier when your finances are in order. When you don't get distracted with trading shitcoin or memecoins you can put the money to use for DCA.
The main reason why retailers are forcefully pushed out of the market is because they like the memecoins distraction too much letting the real cryptocurrency to be in the hand of institutional investors who hoard it and boguht it in bulk.

Can you imagine how much bitcoin gonna go if people don't keep giving money to memecoin ruggers.

That's what my financial advisor told us, investing is the last thing that you do, having no debts or paying all of your debts, securing an insurance, having enough extra cash after allocation for monthly expenses, these are the things that someone should go for before they ever invest so when times get tough and emergency strikes, you don't get the urge to pull out your investments prematurely. Totally agree with memecoins, never ever sink your money in it unless you can spare to lose that money to a rugpull, basically use money that you can gamble.

Are u saying it's all about finances? Seems like timing also plays a big role, right?

Technically at least for me, securing your finances is some of kind of timing and I think the timing that you're talking about seems obsolete in my opinion because bitcoin's already so expensive so I think what really matters right now is just accumulation through proper investing like DCA.

[gracreavix]

One of the worst things that can happen is if you have to sell your Bitcoin in a down market. Having your finances in order makes it so you will never fall victim to this. That is another plus to having sound financial footing.

I think that not all those who sell at a dump are sad or feeling that it is the worst moment of their life but it is just that they may need a money urgently and can not afford to wait for the market to recover again. Some sells too thinking that the price will drop more. Even though it may be sad since they can lost some but the feeling is more saddening if they will just there and watch how the price really drops. Even though they won't look at it, the worry will still be there. There are really people like this that are still weak, mentally and emotionally.

Without proper financial management you'll inevitably make wrong decisions due to emotional influences and a weak mentality. That's why investing in Bitcoin requires careful financial allocation especially since Bitcoin doesn't require a large amount of capital although having a large amount is preferable. However you can invest in Bitcoin with any amount you're prepared to lose by using the DCA strategy which is the best strategy.

Yeah, and it is not even limited to Bitcoin alone self.  It also applies to any investment you are making at all. Without proper financial management you may do it wrongly, it could push you to make bad decisions, whether it’s Bitcoin or any other investment.

Good financial management help you to allocate funds wisely, avoiding too much overexposure, and stick to the right thing instead of reacting to every market move. And yes investing method like DCA work so well, not just because of Bitcoin, but also because they remove that emotional pressure keeping you consistent..

[Leahized]

This is the more reason why it’s advisable to invest in bitcoin with just a discretionary income, this is the money left with an individual after sorting out his or her other basic financial obligations or needs. The mistake most people do in bitcoin investment is that they tend to use the money meant for other of their primary basic financial needs to invest in bitcoin, and when they are faced with some emergency financial situations they end up selling their bitcoin holdings when it’s not yet time and most end up selling at a loss.

Yes that's right, we all know that it is possible to make a lot of profit by doing invested Bitcoin. But money that is used to invest is money that is used financially. And this is the main mistake because any family problem will force you to sell bitcoins. If we have other sources of income,Then it is possible to save the invested money very easily. Investing in Bitcoin requires planning to hold for a certain period of time. Then I will be saved from loss and I will be able to save for the future for sure.

[Grace333]

Rich people do not guarantee that they also have rich bitcoin investment. Same with the poor ones, we can't hold assurance that they are only making small amount of bitcoin investment.

It all boils down how these different life's status able to manage their finances. If you prioritize investing in bitcoin and delay the other things, you will be able to build a good bitcoin portfolio. But despite being rich, you also have to pay a lot of bills and just only left a small amount of funds for bitcoin, then your portfolio will not be as much compared to those who always prioritize buying bitcoin and accumulate every now and then.

I get confused. Anyone can indeed invest in Bitcoin, including poor people. But how can poor people manage their money well while prioritizing investing in Bitcoin? In my view, poor people are indeed more careful in managing their money. But most of their income is spent on necessities, leaving little for urgent needs. Some poor people will even only prioritize food needs because their money is only enough for that. How can poor people manage their money to prioritize investing in Bitcoin?

Valid talk, everybody keep saying anyone can invest in Bitcoin, but reality is different when you are struggling to meet basic needs.. If someone income is not even enough for food and daily survival, then Bitcoin can’t in anyway come before necessities or emergency needs. Survival first, always.

And for poor people who at least have something left after essentials, even if it is very small, the focus should now be on investments, but most of them won’t have the discipline.

[Silikiem]

Rich people do not guarantee that they also have rich bitcoin investment. Same with the poor ones, we can't hold assurance that they are only making small amount of bitcoin investment.

It all boils down how these different life's status able to manage their finances. If you prioritize investing in bitcoin and delay the other things, you will be able to build a good bitcoin portfolio. But despite being rich, you also have to pay a lot of bills and just only left a small amount of funds for bitcoin, then your portfolio will not be as much compared to those who always prioritize buying bitcoin and accumulate every now and then.

I get confused. Anyone can indeed invest in Bitcoin, including poor people. But how can poor people manage their money well while prioritizing investing in Bitcoin? In my view, poor people are indeed more careful in managing their money. But most of their income is spent on necessities, leaving little for urgent needs. Some poor people will even only prioritize food needs because their money is only enough for that. How can poor people manage their money to prioritize investing in Bitcoin?

Valid talk, everybody keep saying anyone can invest in Bitcoin, but reality is different when you are struggling to meet basic needs.. If someone income is not even enough for food and daily survival, then Bitcoin can’t in anyway come before necessities or emergency needs. Survival first, always.

And for poor people who at least have something left after essentials, even if it is very small, the focus should now be on investments, but most of them won’t have the discipline.

Anyone still struggling to sort out his basic financial needs or necessities especially paying of bills and other utilities then such person have no business venturing into bitcoin investment. Bitcoin investment is a long term investment, the most important thing is to first sort out your basic financial needs or obligations as a man, and the money left with you should be the one to use for your bitcoin investment which comes secondary. To be at the safer side of bitcoin investment it’s better to focus on buying bitcoin through the DCA pattern when we are able to figure out a discretionary income for accumulating bitcoin.

[Stablexcoin]

Valid talk, everybody keep saying anyone can invest in Bitcoin, but reality is different when you are struggling to meet basic needs.. If someone income is not even enough for food and daily survival, then Bitcoin can’t in anyway come before necessities or emergency needs. Survival first, always.

And for poor people who at least have something left after essentials, even if it is very small, the focus should now be on investments, but most of them won’t have the discipline.

There are different levels of being poor, those who merely meet their needs with little they can squeeze up as savings, and those who directly eat from hand to mouth. Sometimes, being poor doesn't mean you can't have leftover funds for other purposes, instead of keeping those amounts saved up in banks, it can be invested into Bitcoin, for the period of 3-4 years, there will be returns that still store value.

Truly, as long as the basic needs of life are met, anything else is considered a want, which obviously we can do without. Poor people saving in banks for 4 years, so they can gather enough money for business, if those funds are used to invest in Bitcoin, it would be better, before the four years elapse, the market must have reached a bull peak for investors to take profits.

[Beparanf]

Anyone still struggling to sort out his basic financial needs or necessities especially paying of bills and other utilities then such person have no business venturing into bitcoin investment. Bitcoin investment is a long term investment, the most important thing is to first sort out your basic financial needs or obligations as a man, and the money left with you should be the one to use for your bitcoin investment which comes secondary. To be at the safer side of bitcoin investment it’s better to focus on buying bitcoin through the DCA pattern when we are able to figure out a discretionary income for accumulating bitcoin.

I would say it depends on persons perspective. 1$ Bitcoin before is already equivalent to a huge amount now so if a poor decided to save a dollar for the sake of long term investment I think that will be fine. Bitcoin can change someone’s fate and we don’t how far can the price go in the future.

But in general I do agree to you since most people doesn’t have patience when it comes to investment so there’s a high chance that they will just sell it immediately once they needed the money already.

[rezakurnia66]

There are different levels of being poor, those who merely meet their needs with little they can squeeze up as savings, and those who directly eat from hand to mouth. Sometimes, being poor doesn't mean you can't have leftover funds for other purposes, instead of keeping those amounts saved up in banks, it can be invested into Bitcoin, for the period of 3-4 years, there will be returns that still store value.

Truly, as long as the basic needs of life are met, anything else is considered a want, which obviously we can do without. Poor people saving in banks for 4 years, so they can gather enough money for business, if those funds are used to invest in Bitcoin, it would be better, before the four years elapse, the market must have reached a bull peak for investors to take profits.

Poor people saving in the bank until four years later not increasing yet but many of them afraid if want to invest in bitcoin regarding volatility of bitcoin value, I think saving money in the bank until four years later get high inflation values than keep holding in bitcoin we can earn possibility increasing assets values bitcoin will raise up. Many people discipline save money in the bank every month but worth it when allocating the fund for saving in the bank to buy bitcoin.
Accumulate every month than saving in the bank one day later has chance get increasing not only few percent but also has opportunity bitcoin assets saving increase more than 10% to 20%.

[Findingnemo]

It should be wealth generation in the title instead of bitcoin. Since we are in bitcoin forum we consider bitcoin as the only valuable asset.

I do agree with some of the points with Robert Kyoski and that book helped me to have different perspective about the life itself not just money but not all the strategies will work for everyone, people can learn how it can be but need to apply based on their own such as taxation, laws and other things.

[ruykeri]

Yeah, and it is not even limited to Bitcoin alone self.  It also applies to any investment you are making at all. Without proper financial management you may do it wrongly, it could push you to make bad decisions, whether it’s Bitcoin or any other investment.

Good financial management help you to allocate funds wisely, avoiding too much overexposure, and stick to the right thing instead of reacting to every market move. And yes investing method like DCA work so well, not just because of Bitcoin, but also because they remove that emotional pressure keeping you consistent..

You are right, in fact, fund management is very important in any investment. And in the case of investment in Bitcoin, it is mandatory. If the investment is not made according to the right plan, then Bitcoin accumulation may stop in the future. And for long-term investment activities, one should definitely invest in the DCA method with discretionary income. And those who have been successful in investing in Bitcoin are have invested with a long-term mind set.

[hyudien]

Poor people saving in the bank until four years later not increasing yet but many of them afraid if want to invest in bitcoin regarding volatility of bitcoin value, I think saving money in the bank until four years later get high inflation values than keep holding in bitcoin we can earn possibility increasing assets values bitcoin will raise up. Many people discipline save money in the bank every month but worth it when allocating the fund for saving in the bank to buy bitcoin.
Accumulate every month than saving in the bank one day later has chance get increasing not only few percent but also has opportunity bitcoin assets saving increase more than 10% to 20%.

Not only for the poor, the middle class is also still protecting and or increasing their wealth by saving in banks, especially parents, which is understandable, because of the fear of the volatility of bitcoin and the lack of knowledge of investing in bitcoin. But I agree with your point, that saving fiat is not the right solution especially in the long run, considering that every year the value of fiat will decrease due to inflation.
A wiser solution is to do both, with some adjustments if one's finances are average, for example if the budget for value protection every month is 20%. 15% can be used for bitcoin accumulation and the rest saving fiat, with proper planning, knowing when to enter for the first time into the bitcoin market, if the target is every 4 years / 1 halving cycle, then there is an opportunity or expectation of growth in those 4 years.

[Hazink]

It should be wealth generation in the title instead of bitcoin. Since we are in bitcoin forum we consider bitcoin as the only valuable asset.

Lol, but funny as if you could sound or as it could be perceived, that's how many people picture Bitcoin. It's either Bitcoin or nothing else, but that's being biased and not creating room to see the beauty and opportunity that other assets hold out there. In terms of cryptocurrency, nothing beats Bitcoin. In fact, as far as digital currency is concerned, bitcoin is the ultimate, but I will be narrow-minded if I consider bitcoin to be the only value asset out there.

[uchegod-21]

It should be wealth generation in the title instead of bitcoin. Since we are in bitcoin forum we consider bitcoin as the only valuable asset.

Lol, but funny as if you could sound or as it could be perceived, that's how many people picture Bitcoin. It's either Bitcoin or nothing else, but that's being biased and not creating room to see the beauty and opportunity that other assets hold out there. In terms of cryptocurrency, nothing beats Bitcoin. In fact, as far as digital currency is concerned, bitcoin is the ultimate, but I will be narrow-minded if I consider bitcoin to be the only value asset out there.

This is a bitcoin forum, so as far as am concerned, bitcoin remains the most important asset to be discussed here. No one is asking anyone not to be open minded, they can promote any other form of wealth creation when they join forums or platforms of likeminds who share same money making mindset like them. Just like asking here what investors will choose between gold and bitcoin. Majority will definitely choose bitcoin. But ask same question in a gold forum and see that the response will be totally different. Knowledge just matters alot

[Grace333]

Rich people do not guarantee that they also have rich bitcoin investment. Same with the poor ones, we can't hold assurance that they are only making small amount of bitcoin investment.

It all boils down how these different life's status able to manage their finances. If you prioritize investing in bitcoin and delay the other things, you will be able to build a good bitcoin portfolio. But despite being rich, you also have to pay a lot of bills and just only left a small amount of funds for bitcoin, then your portfolio will not be as much compared to those who always prioritize buying bitcoin and accumulate every now and then.

I get confused. Anyone can indeed invest in Bitcoin, including poor people. But how can poor people manage their money well while prioritizing investing in Bitcoin? In my view, poor people are indeed more careful in managing their money. But most of their income is spent on necessities, leaving little for urgent needs. Some poor people will even only prioritize food needs because their money is only enough for that. How can poor people manage their money to prioritize investing in Bitcoin?

Valid talk, everybody keep saying anyone can invest in Bitcoin, but reality is different when you are struggling to meet basic needs.. If someone income is not even enough for food and daily survival, then Bitcoin can’t in anyway come before necessities or emergency needs. Survival first, always.

And for poor people who at least have something left after essentials, even if it is very small, the focus should now be on investments, but most of them won’t have the discipline.

Anyone still struggling to sort out his basic financial needs or necessities especially paying of bills and other utilities then such person have no business venturing into bitcoin investment. Bitcoin investment is a long term investment, the most important thing is to first sort out your basic financial needs or obligations as a man, and the money left with you should be the one to use for your bitcoin investment which comes secondary. To be at the safer side of bitcoin investment it’s better to focus on buying bitcoin through the DCA pattern when we are able to figure out a discretionary income for accumulating bitcoin.

That is it, because Bitcoin is not something you jump into while struggling to pay bills, not at all. If your basic needs are not sorted, every small dip will stress you out totally.  So take care of your responsibilities first, then use only what is left as discretionary income.
That is why DCA works well, slow and steady buying without pressure.

[Proty]

Rich people do not guarantee that they also have rich bitcoin investment. Same with the poor ones, we can't hold assurance that they are only making small amount of bitcoin investment.

It all boils down how these different life's status able to manage their finances. If you prioritize investing in bitcoin and delay the other things, you will be able to build a good bitcoin portfolio. But despite being rich, you also have to pay a lot of bills and just only left a small amount of funds for bitcoin, then your portfolio will not be as much compared to those who always prioritize buying bitcoin and accumulate every now and then.

I get confused. Anyone can indeed invest in Bitcoin, including poor people. But how can poor people manage their money well while prioritizing investing in Bitcoin? In my view, poor people are indeed more careful in managing their money. But most of their income is spent on necessities, leaving little for urgent needs. Some poor people will even only prioritize food needs because their money is only enough for that. How can poor people manage their money to prioritize investing in Bitcoin?

Valid talk, everybody keep saying anyone can invest in Bitcoin, but reality is different when you are struggling to meet basic needs.. If someone income is not even enough for food and daily survival, then Bitcoin can’t in anyway come before necessities or emergency needs. Survival first, always.

And for poor people who at least have something left after essentials, even if it is very small, the focus should now be on investments, but most of them won’t have the discipline.

Anyone still struggling to sort out his basic financial needs or necessities especially paying of bills and other utilities then such person have no business venturing into bitcoin investment. Bitcoin investment is a long term investment, the most important thing is to first sort out your basic financial needs or obligations as a man, and the money left with you should be the one to use for your bitcoin investment which comes secondary. To be at the safer side of bitcoin investment it’s better to focus on buying bitcoin through the DCA pattern when we are able to figure out a discretionary income for accumulating bitcoin.

That is it, because Bitcoin is not something you jump into while struggling to pay bills, not at all. If your basic needs are not sorted, every small dip will stress you out totally.  So take care of your responsibilities first, then use only what is left as discretionary income.
That is why DCA works well, slow and steady buying without pressure.

Anyone without a discretionary income isn't ready to invest in bitcoin. Without a good financial management so many folks may find it difficult to determine the availability of discretionary income as they may spend money on reckless things that may not really be that much important to them. However with good financial management, we can be able to know how much financial expenses that is supposed to be sorted and also if there is left over to invest in bitcoin. In other to avoid investing with money that is not our discretionary income we should be able to determine the availability of discretionary income.

[Tmoonz]

Rich people do not guarantee that they also have rich bitcoin investment. Same with the poor ones, we can't hold assurance that they are only making small amount of bitcoin investment.

It all boils down how these different life's status able to manage their finances. If you prioritize investing in bitcoin and delay the other things, you will be able to build a good bitcoin portfolio. But despite being rich, you also have to pay a lot of bills and just only left a small amount of funds for bitcoin, then your portfolio will not be as much compared to those who always prioritize buying bitcoin and accumulate every now and then.

I get confused. Anyone can indeed invest in Bitcoin, including poor people. But how can poor people manage their money well while prioritizing investing in Bitcoin? In my view, poor people are indeed more careful in managing their money. But most of their income is spent on necessities, leaving little for urgent needs. Some poor people will even only prioritize food needs because their money is only enough for that. How can poor people manage their money to prioritize investing in Bitcoin?

Valid talk, everybody keep saying anyone can invest in Bitcoin, but reality is different when you are struggling to meet basic needs.. If someone income is not even enough for food and daily survival, then Bitcoin can’t in anyway come before necessities or emergency needs. Survival first, always.

And for poor people who at least have something left after essentials, even if it is very small, the focus should now be on investments, but most of them won’t have the discipline.

Anyone still struggling to sort out his basic financial needs or necessities especially paying of bills and other utilities then such person have no business venturing into bitcoin investment. Bitcoin investment is a long term investment, the most important thing is to first sort out your basic financial needs or obligations as a man, and the money left with you should be the one to use for your bitcoin investment which comes secondary. To be at the safer side of bitcoin investment it’s better to focus on buying bitcoin through the DCA pattern when we are able to figure out a discretionary income for accumulating bitcoin.

That is it, because Bitcoin is not something you jump into while struggling to pay bills, not at all. If your basic needs are not sorted, every small dip will stress you out totally.  So take care of your responsibilities first, then use only what is left as discretionary income.
That is why DCA works well, slow and steady buying without pressure.

Anyone without a discretionary income isn't ready to invest in bitcoin. Without a good financial management so many folks may find it difficult to determine the availability of discretionary income as they may spend money on reckless things that may not really be that much important to them. However with good financial management, we can be able to know how much financial expenses that is supposed to be sorted and also if there is left over to invest in bitcoin. In other to avoid investing with money that is not our discretionary income we should be able to determine the availability of discretionary income.

Putting Bitcoin investment in consideration is also a way of helping individuals to be more strategic when it comes financial management, having a purpose for every money to be spent at every given time, most of the time people that spend money on things that are necessary doesn't have what they should have spend those money on that is why for some one that has Bitcoin investment in mind it will occur to them to always be accountable for every money they spend including in their investment, one important also is to have the investment at heart it will aids in scheduling or if possible cut some expenses like instead of going for something that might be too expensive you go for a lesser one that can still serve the same purpose just for you to meet up putting as little as possible in to your investment, we don't have to wait until our finances are all round in order before investing because humans want are insatiable.