You don’t invest with spare money, it sound as a disrespect or lack of trust from my view cause when referring something as spare it’s considered as a leftover or not so important but rather you invest with your satisfied amount for example, each time I receive my monthly pay I make sure bitcoin budget is involve cause bitcoin investment is so valuable so I can’t afford to miss the date set for accumulating sometimes I use my monthly bonus to accumulate cause I know I can hold for long and still plan ahead, if you’re referring your accumulating money as a spare amount you’re actually trying to say you can miss the date set cause what if there’s no spare money during that month.
I think JJG has already explained this. It's like discretionary income
The leftovers after basic needs are catered for.
The essence of using such money is to prevent emotions been swayed by the market movement or manipulation that would lead to selling in a loss.
Holding is easy to say but harder to implement
Many can't even hold in a bullish market not to mention a bearish one.
But investing a money you can do without can help mitigate this to some extent.
That is not actually the right way to go about it because
there is no way you could advise someone who is earning low to invest on a daily basis that's actually an over investment because let's take for instance he is earning $150 on a monthly basis and you advise him to invest daily and maybe he uses $5 as his accumulation amount on the daily basis and in a month we have 30 days depending on the particular month so perhaps $5*30=$150 he will spent per month which is his salary per month and that means he will be investing 100% of his monthly salary
I never said daily
I said spread across the days of a month.
And even daily is possible for a low income earner.Binance uses a convert function that allows the buying of $0.01Usdt of Bitcoin if am not mistaken
That's $0.3 a month which is nothing
So it's quite possible.
Poor people may well never get ahead if they are fucking around too much with trading and gambling rather than establishing more of a building kind of an approach and also an approach that has measured practicalities
They usually believe in get rich schemes so that's one thing that hold them back.
This is also why they usually fall to scams and MMM.
They usually impatient of their situation that they want to get out quick.
I guess it just take seizing a good opportunity to leave your current social status.