Quote from: Ruttoshi on June 19, 2024, 10:13:27 PM

Quote from: Moreno233 on June 19, 2024, 02:29:09 PM

Quote from: Tungbulu on June 19, 2024, 10:41:54 AM

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Yes. I would consider it unwise to use my own emergency funds to take care of someone else's emergency situation (unless they were a direct family member under which I had already taken financial responsibility), even though reserve funds might be able to be used for that level of problem situation of someone else .. such as a friend or a more distant relative who should already have their own emergency fund practices...

It'll indeed be unwise to use one's emergency funds (meant for his own personal emergencies only) to cover another person's emergency situation, as this coulf compromise and affect one's financial security and stability, except of course they are emergencies of direcr family members which could also be considered to be your own emergency too.
Your emergency should come first, as well as your financial well being, that boundary between your emergency fund and others' financial needs should be maintained and very clear.

It is a personality thing and I will not blame anyone who does that because such might just being doing that with a bid to finding peace within himself or herself. There are people that are so softhearted to the point that they can actually dip hands into their emergency funds to help someone they don't even know but need urgent attention. I have such a person which is my mum, who can inconvenience herself to please others. Her love for humanity knows no limit and because of her I feel some people are just born that way and there nothing that can change them. Even though this may not be too favorable for an investor still at the building stage, it is what it is.

When investing you need to stay focus and avoid side distraction. Those who don't take their emergency funds as their priority will end up failing in their bitcoin accumulation journey. People who can use their own personal emergency funds to help someone that is not his financial responsibility is gambling and will even sell part of their bitcoin to help people. This means that person might end up not having money to help people whereas they still need help.

Quote from: Ruttoshi on June 19, 2024, 10:13:27 PM

I think it's important to be smart about investing in coins. Don't buy or sell based on emotions or pressure from others. Instead, have a clear investing plan and stick to it. Trading is like a marathon, not a sprint. Take care of your own financial needs first, then invest wisely. Right now, it's important to be cautious and patient, not impulsive. It's not necessarily a 'buy time' or 'sell time', but a 'be smart time'!

This is why I will never use my personal emergency funds for someone that is not my responsibility to take care of, because my bitcoin investment is what I plan to achieve success on without any fault from Mismanagement of the funds that i will use to succeed in it.

Quote from: Ruttoshi on June 19, 2024, 10:13:27 PM

Keep your emergency funds separate and don't use them to invest or help others financially. That's like gambling and can lead to trouble. People should plan and take care of their own emergencies themselves.