Quote from: BABY SHOES on September 20, 2023, 09:00:53 PM

Quote from: Dr.Bitcoin_Strange on September 20, 2023, 06:48:03 PM

but you don't just want to invest it at once because you feel the price will go down below what it is, and you start to invest using the DCA strategy. Secondly, if you are working for a monthly or weekly salary, you can also have an amount you always want to allocate to bitcoin, either weekly or monthly, at any time you get paid.

Indeed, that is my current method, when I receive a weekly or monthly salary, I always make an allocation for Bitcoin, the amount specified, for example 10% or 20%, actually that is enough, the rest I can cover my other needs for a month.

Yeah, it's a good approach. Normally, it's a wise idea for someone to make a budget on how to spend their salary; otherwise, they may end up spending all their salary and not still be able to satisfy all their needs for that month. Even if the person is not investing in any asset, they can roughly spend all their earnings on personal needs and still might not be able to keep some funds for emergencies. Which is why It is good to always have a budget design for how you will allocate your salary and what you want for that month, and while doing so, you should know how much you need to fulfill your needs, which should be able to serve you till the next month that you will receive your next salary, how much to put in your emergency fund, and how much you can invest in bitcoin. A good budget might help you to even spend less and help you to be contained with what you have until you receive your next payment.

Quote from: Dr.Bitcoin_Strange on September 20, 2023, 06:48:03 PM

When you are close to receiving your salary or after you have received it, you just have to take your time and make a budget, and while doing so, never forget to also add some funds to emergency funds, then allocate the amount you want into bitcoin.

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To make it more balanced, the 10% DCA bitcoin 15% emergency fund is the right allocation depending on how much salary you receive, but I have prepared both, including an emergency fund and consistent DCA.

Actually, I have prepared an emergency fund before but only covers 2 months, but I want to increase it to 6 months and then after that I will increase the bitcoin allocation more.

Do it in the way that is best comfortable for you, depending on how much you earn every week or month. Everybody's salary varies; some people can put more money into their bitcoin investment and only put less money into their emergency funds, and yet they will not be affected in any way; they will still have their needs contained until they receive their next salary and work out the new budget they also have for that month.

Some people can even invest 30% of their salary in bitcoin, 50% in their needs and bills for that month, and 20% in emergency funds, but that still depends on how much the person is earning.