How can a student make balanced investments without his source of income?

[MorganaX]

I don't think DCA method is important at this time if you have extra to invest because the extra wouldn't come often. Just buy whenever, you have the extra. It's only students that are working and at the same time going to school are the ones that can invest in bitcoin when they are still in school.

Which is rare and look at the situation of the economic and also the educational background of the country, most of the age range that are getting into the university atmosphere are actually students or children that are just starting to see and experience life on their own for the first time and some of these guys can be influenced easily too and most of them will jump into the act of investing just because of their friends or things being said about it on how easy it is to get profit which is the first initial wrong move.

[Wiwo]

Let's assume that a student does not have a source of income, he wants to invest the amount of money he gets from his family for his daily expenses. Yes, he can definitely invest, if he can manage his financial situation properly and reduce his depreciation expenses. In the case of a student, the main task is not to invest continuously but to hold it in the long term. Because he does not have a source of income, he

How to distribute or spend the money for daily expenses:

1 Stop all unnecessary expenses, such as smoking expenses, drinking expenses, extra mobile expenses, spending extra with friends, going out, etc.

Any student that have time and money to spend on all the above-mentioned, most have a steady cash follow to be able to meet up with the expenses of this lifestyles, those shit are really expensive for an average dependant student.

2 Buy every thing or product at a reasonable price and save money.

Buying goods in bulk requires, huge capital the best price shops are wholesale stores who won't sell in pieces, how much can a student hand out in thay regards.

Investment Amount and Expense Amount Division:

1 Suppose you are given $30 for monthly expenses or for your hand expenses and you are able to find $10 discretionary income by spending all your expenses. You can invest with this $10, but it would be foolish to invest the entire amount.

$30 Is equivalent to around #40,000 plus, thay is above some people salary and it must takes someone with strong financial support to get such allocation on monthly bases.

2 You can create an emergency fund or if your family always gives you money in times of danger, then you may not create an emergency fund. But creating an emergency fund is good because it is better not to depend on anyone else.

The investment method that will be most effective for students:

1 In this way, the DCA method is the most effective investment method.

2 We can use the DCA method according to our financial situation, again many times we cannot invest due to the increase in our expenses and if we invest the same way next month, it will still be included in the DCA method.

3 The DCA method provides us with many more benefits compared to all other investment methods

The goal of every student should be long-term. It is better for a person or a student to have some Bitcoin than not to have any. So if a student wants to invest in Bitcoin, he can do so. If they start investing now, they will learn to manage their finances very quickly and in the future, when they find a source of income, they will not have any problem in managing their finances properly in terms of investment.

All things being equal with, that amount of monthly income applying the above discretion to DCA practice will definitely earn a student long term bitcoin accumulations.

[Slimzeee]

Being a student is not an easy phase, but I know for sure that one thing that can separate you from others is your ability to be diligent with your resources. If you can develop the habit of keeping some money aside from your expenses for other purposes like investing in Bitcoin, then the DCA method can be adopted.

However, what I wouldn't advise is going head over heels trying to prove that you are an investor by putting all your spare money into it. The goal should be long-term accumulation, not forcing investments at the expense of your financial stability. Always leave room for unexpected expenses or emergencies; otherwise, you may end up touching the money again, which defeats the purpose of investing in the first place.

[DYOR+BTC]

During school days it is always a thing of fighting before there can be solution except for those blessed with parents willing to provide all but even at that it can't be easy.
Most children tries everything within there power to make things work and at last they achieve there ever dreams but it is not any easy task for them as it requires serious of sacrifice before it can  come to reality.  Many made it with the help of there parents while those that lacks parental supports went through hell before it worked but it is far much easier to suicide with parental support than personal efforts.  Therefore its easy to survive without personal business during school days than surviving without parental support because that is the easiest way to succeed

[Versatile_choice]

There’s absolutely no reason to force investment if you don’t have any source of income yet.. you can save up instead to start but before starting, you need to ask yourself if you can afford it.  Going after some immediate profit in Bitcoin will humble you and you might eventually sell in loss.

There is no way a person would cope with his or her bitcoin Investment without a source of income, the question is where are they going to get the money they will use to maintain thier regular buying of bitcoin ? Because it is through our income that we can get discretionary income. so without a source of income we may likely have zero discretionary income because the little money we will be getting from side hustle will not be enough to pay for our basic necessities talk more of investing in bitcoin.

Invest with some sense not because everyone is doing it and you must.. there are different options but Bitcoin stands out.

It is just like those who are investing due to FOMO (fear of missing out) we should always wait for the best time instead of putting ourself in a very tight angle where we would be struggling to get out from it.

[Dreadboost]

Let's assume that a student does not have a source of income, he wants to invest the amount of money he gets from his family for his daily expenses.

From a practical standpoint the money a student gets from family for upkeep can be saved but shouldn't be invested.
An exception for student coming from a wealthy home. The upkeep money sent to them may be enough for a reasonable amount to remain for investment.

Yes, he can definitely invest, if he can manage his financial situation properly and reduce his depreciation expenses

No, he should not invest. Money for investment is derived from an individuals income not from his daily expenses.

The goal of every student should be long-term. It is better for a person or a student to have some Bitcoin than not to have any. S

The goal of every student is to come out with good grades which is why they should be studying.
Life has stages. After they are done with education, they cant start working to save or invest.

[Dogedegen]

Well it is possible for a student who gets money from his family to do so but imo it’s not ideal, atleast if he wants to start investment, he should have a source of income. Most students nowadays do remote jobs and earn some money that help fund their lifestyles…for those group of students, they can invest but for someone who doesn’t earn anything rather he spend from his allowance, I don’t think it’s ideal for him to invest.

It is ideal, you are wrong. When you are receiving money from some source without actually working you have more time to consider things properly and do the investments, when I was young most of my investment came from money that was not from jobs. Some of my best successes were made with this money, so the claim that you should have a source of income is not true. You can invest with any money, it does not matter how you are getting it.

The expenses of being a student are really high and sometimes even the allowance that your parent or family would give you might not be enough for you,  talkless of having leftover discretionary money from it.

A lot of the money is wasted by students, so bad money management is not an excuse for not being able to invest.

Being a student is not an easy phase, but I know for sure that one thing that can separate you from others is your ability to be diligent with your resources. If you can develop the habit of keeping some money aside from your expenses for other purposes like investing in Bitcoin, then the DCA method can be adopted.

It is not a hard phase at all, it is probably one of the easiest phases in life. In many places in the world students are working part time or sometimes even full time jobs and studying at the same time, many of them are studying very hard degrees so it is not that they choose something that is very easy. Students usually have bad time management, bad money management and bad priorities, that is why it seems like it is a hard phase. If you have very good time management and good strategies at studying, it is a pretty good phase.

[Alonso_]

Investing in bitcoin you need a discretionary income, which is something that is required to enable your Bitcoin investment, if you’re a student and you usually gets some pocket money that is used for your expenses, but if you choose to start investing in bitcoin considering the amount of money that you usually get or you’re working and schooling at the same time, then you can at least have some money for yourself to buy bitcoin, I think you only accumulate bitcoin when you have a discretionary income, it depends on how much that you’re left with to buy bitcoin and how much you’re even given for yourself and expenses, but you need a source of income to have a discretionary income, so you have to consider other factors, like having a backup funds, emergency funds and reserved funds, you need to consider all of this before going into bitcoin investments, and you need a source of income to stay consistent with buying bitcoin.

[Cityhunter34]

There is no way a person would cope with his or her bitcoin Investment without a source of income, the question is where are they going to get the money they will use to maintain thier regular buying of bitcoin ? Because it is through our income that we can get discretionary income. so without a source of income we may likely have zero discretionary income because the little money we will be getting from side hustle will not be enough to pay for our basic necessities talk more of investing in bitcoin.

One must have a good source of income before thinking of venturing into Bitcoin investment. It's not advisable to invest without being financially stable, because Bitcoin investment requires a long-term process. You might likely want to sell your Bitcoin if you don't have a source of income.

Sometimes we need to put some things into consideration when investing in Bitcoin, because it makes no sense to start without a proper backup. You need to have something reasonable to enable it to move smoothly and not force yourself too much.

[liasbaa]

It is not right for a student to save Bitcoin if he is not 18-20 years old. There is a need for maturity in the age of starting investment because a student is more likely to make wrong decisions and there is a possibility of loss due to this. I do not support investing in the stages of education for a student from a poor or financially well-off family.

If a student starts buying Bitcoin, they will not be able to stay regular for a long time because they have not yet developed the ability to make mental preparations. They are not mentally ready yet to be spending money and to be committed to accumulation Bitcoin.

Even if a person has a regular income he cannot be consistent in accumulation Bitcoin unless he has achieved mental maturity. I think it is more logical for a student not to be in such a risky situation.

[Nathrixxx]

Students in school are expected to be committed to learning and as well be more vigilance to every other opportunity around them that could aid secure their future, and this is why you cannot as well neglect every investment opportunity in Bitcoin, you can always make an entry at an affordable pace, if you see it as an opportunity to be schooling and at the same time working to earn, you could definitely achieve some milestone while at school and be an investor after discovering a suitable pattern to be used as your investment strategy.

[Sammye3]

Having a source of income gives a form of comfort and stability to invest wisely without a form of pressure. There is a high possibility that a student who has no source of income and invest in any asset with discretionary funds would withdraw his investment in times of challenges or financial problems. It's wise to have a stable job before investing, there is an order to investment, it shouldn't be done under compulsion.

[Princess Leah]

~

Don’t misunderstand my point..
 
A student that has money to smoke, drink and go clubbing at the same time , have the money to start atleast little investment and Bitcoin is no exception..
My point is focus on students, that can’t even afford to do all those stuffs because they are always left with little to no funds left after paying up their school bills.

If any student falls in the first category, then they have no excuse on not having any investment upfront their graduation.  Any student that falls in category B and still doing what category A s are doing is not serious about life  

We're on same page dear cause it all falls back to having discretionary funds to be able to investing  whether someone falls in category a or b. What I'm trying to say is take smoking and clubbing including others stuffs I mentioned has become something normal in the life of an average Nigerian student but if they can minimise such habit and channel funds meant for those lifestyle to investment then it's more better but it takes determination to stop cause those lifestyles are addictive.

 For category B, it understandable for a student to have little capital left after spending on important school bills but it's still not an excuse cause nothing stop a student from looking for part time jobs to earn or using skill to earn, which may also include teaching skills instead of depending on what they get from their parents.

[Salahmu]

Let's assume that a student does not have a source of income, he wants to invest the amount of money he gets from his family for his daily expenses. Yes, he can definitely invest, if he can manage his financial situation properly and reduce his depreciation expenses. In the case of a student, the main task is not to invest continuously but to hold it in the long term. Because he does not have a source of income, he

1 Suppose you are given $30 for monthly expenses or for your hand expenses and you are able to find $10 discretionary income by spending all your expenses. You can invest with this $10, but it would be foolish to invest the entire amount.

If you are someone who is still studying, there are things including investment you will limit yourself at the main time if your parents are not the financially stability type, actually going by your $30 instance for the students expenses, I don't think is good to use some of the part that would be left for Bitcoin because in school even if you feel that all the school payments is completed for the year you could be surprised for how numerous other expenses will emerge so actually how most low average financial students was copping is through small physical business in the school, so actually it depends on the financial category you finds yourself will make you invest either in Bitcoin or what could help your immediate and potential fees in schools.

[Ashawowo(OS)]

Let's assume that a student does not have a source of income, he wants to invest the amount of money he gets from his family for his daily expenses. Yes, he can definitely invest, if he can manage his financial situation properly and reduce his depreciation expenses. In the case of a student, the main task is not to invest continuously but to hold it in the long term. Because he does not have a source of income, he

First of all you've got the topic wrong, his parents are his source of income since they send him allowances periodically to sustain. If he has excesses left after taking care of his expenses, he can choose to put it into Bitcoin consistently, a student serious about investment doesn't depend totally on his parent's allowances, unless it's huge enough, there are other little night jobs they can do and make a living which they can freely invest into Bitcoin without having to deprive themselves in order to follow up their investment journey.

[JoyceBTC]

There’s absolutely no reason to force investment if you don’t have any source of income yet.. you can save up instead to start but before starting, you need to ask yourself if you can afford it.  Going after some immediate profit in Bitcoin will humble you and you might eventually sell in loss.

There is no way a person would cope with his or her bitcoin Investment without a source of income, the question is where are they going to get the money they will use to maintain thier regular buying of bitcoin ? Because it is through our income that we can get discretionary income. so without a source of income we may likely have zero discretionary income because the little money we will be getting from side hustle will not be enough to pay for our basic necessities talk more of investing in bitcoin.

The honest truth is that everyone should just invest when they can and I think that is just the absolute best, no need to be in too much rush and on the long run, you give up because you can’t keep up or because you have so many outstanding bills or emergencies you need to attend to with funds, and the only option left will be to sell out your bitcoin when the initial goal was long term.
A stable source of income is important when starting your investment, from that income, one must have discretionary funds available to invest and also extra funds set aside for emergencies, if you can’t meet up with this, then hold. No time is ever too late to start bitcoin investment, if you don’t invest now doesn’t mean you’ve missed your chance.

[Hypnotizer]

Well it is possible for a student who gets money from his family to do so but imo it’s not ideal, atleast if he wants to start investment, he should have a source of income. Most students nowadays do remote jobs and earn some money that help fund their lifestyles…for those group of students, they can invest but for someone who doesn’t earn anything rather he spend from his allowance, I don’t think it’s ideal for him to invest.

It is ideal, you are wrong. When you are receiving money from some source without actually working you have more time to consider things properly and do the investments, when I was young most of my investment came from money that was not from jobs. Some of my best successes were made with this money, so the claim that you should have a source of income is not true. You can invest with any money, it does not matter how you are getting it.

The fact that you received money you didn’t work for doesn’t mean it is ideal for you to start any investment, CONTEXT matters.

Let’s look at it from a perspective of the life of any average Nigerian student, as some replies above have already mentioned, the money an average Nigerian student get most a times aren’t enough for their expenses (Necessary expenses in this cases not the other unnecessary ones), when you’re in this kinda situation you’re more focused on survival and sadly that’s the situation of most Nigerian student because of the economic hardships.

Your youth and other people’s youth are different, you can’t compare the fact you got your investment money from other source which you didn’t work for to the allowance that a student gets for his expenses in school. Also I’d like to clarify something here, you can still invest even if you don’t have a job, I’ve also read in this thread from a reply….the allowance or “free money” you also get is also a source of income.

It’s really good for student to have a good and proper financial management skills and they should invest in learning real life skills that would help them get incomes.

[Youngrebel]

All of these is not applicable to everyone, most students depend on their parents or guardians for money and the only ones that would be able to make an investment are those that probably have rich parents, such students would be able to save without struggling but you have forgotten that not everyone is in such category, there are students that find it hard to survive, how can you expect such students to invest in Bitcoin or any other type of investment. This is something that majority of students are going to struggle with.

[Agbamoni]

I support your opinion cause this is the Nigerian local board and he's trying to encourage students in Nigerian school not globally, Nigerian students don't use Dollar but Naira so it's a good suggestion that the dollar symbol should be changed to Naira since this is not a general board. Although the OP's advice are valid.

 However it would be very tough for a Nigerian student to cut down expenses like smoking, drinking, clubbing, extra internet bill etc cause a good number of students do all in combined but it's very realistic and takes determination to be achievable, smoking especially is addictive and very tough to stop but once someone makes up their mind to choose financial freedom over that the person would work on cutting out expenses that would hinder them from investment.

More than 15% of Nigerian students in this era make money through online skills and scams, allegedly. These are the students this topic should be centered on. Not on students still relying on their parents to cover their expenses. Because a student who clubs, drinks, does drugs, and smokes has the money to do little investment.

Students who make their own money while in school, regardless of the means, are entitled to start an investment of their choice. Some of them are already business owners before they are done with school.