I'm glad you pointed out how important it is for students not consider the option of using money meant for their tuition fees to invest in Bitcoin. It's very crucial to lay much emphasis on the importance of prioritizating essential expenses such as tuition fees because it falls under money they can't afford to lose. It may not be considered to be smart investing at all to use money meant for other important expenses to accumulate Bitcoin as it could put you on a very uncomfortable spot when the sudden need for that money arises, keeping one in a compromising state of considering to sell off their holding in order to foot that need, which very bad for investment. To avoid such scenarios, it's very crucial to strike a balance between financial responsibilities and smart investing, because by doing this, they'll be building a very strong and solid foundation for their financial future.
Not just money they can't afford to lose is also money they can't hold for long , so anyone that go into Bitcoin with money they can hold for long is only in for short-term profits, which may be risky . Because they may not be able to hold for long so the chances of them selling in loss is Higher.
Yes you're absolutely correct.
Bitcoin can be a very reliable and efficient store of value for anyone who wish to store their wealth under the umbrella of bitcoin, but this isn't advisable when the intention is to store the wealth for a short-term, due to the uncertainty and unpredictable nature of the bitcoin market, there's no way to predict the next move of the market, hence considering the long-term trajectory of the market remains the only to secure one's holding.
If a guy buys bitcoin today (with intentions of preserving the value of his wealth and protection at against inflation) with intentions of selling in a matter of weeks, it's possible that bitcoin price can drastically drop in within weeks and it could stay within that range for the next few months, meaning that if he eventually sell as planned, he'll end up hitting a huge loss, thereby defeating his original intentions of wealth preservation. So buying bitcoin with money you have short-term plans for is a totally bad idea, because it would no longer be called an investment but a gamble because then, there chances of losses becomes pretty much.
~snip~
Not just money they can't afford to lose is also money they can't hold for long , so anyone that go into Bitcoin with money they can hold for long is only in for short-term profits, which may be risky . Because they may not be able to hold for long so the chances of them selling in loss is Higher.
But due to the fact that the world is going digital each day, it has create opportunity for young students to be able to learn some skills online , which have help alot of students to start earning in their comfort zone without it affecting their studies. So such individual can actually start investing in Bitcoin with some portion of the money usually get from that skill, and he or she may choose to focus his own personal earning in Bitcoin investment
while his parents take care of his emergency funds.In that way he or she will be able to build a better investment for he or her self in a long run .
Than wasting money in some irrelevant things because now and days most young students can differentiate want from need , so they may start leaving a luxurious life style.
I don't really like the idea of parents serving as an emergency fund, even though surely there is some truth in that, yet when we start to invest into something like bitcoin, each of us likely need to get into some good practices, including the creation of our own emergency fund, even if we might be able to get away with building and/or maintaining a smaller amount because we have our parents as additional emergency funds... the same is true for other kinds of better practices in regards to using reserve funds prior to even touching emergency funds, so it may well become way and way more likely that any of us might be investing for many years and never even come close to touching our emergency funds because we use our other categories of back up funds prior to ever getting into a state of emergency (or having to use any of our emergency funds).
Most definitely...
Everyone is meant to be in total control of their emergency fund, and the emergency fund should at all time be accessible to the owner at all time. Allowing your parents to take care of your emergency fund simply means giving them the control over it. In Addition, your parents could have their own emergencies too, and they'll definitely use the funds to sort them out, so what if your emergency occurs right after your parents just finish using the emergency funds to sort out their own emergency? That would only mean 1 thing, and that's you dipping your hand into your bitcoin portfolio to sort out your emergency hence messing up your financial plans and foundation.
So it's very important to have your own personal emergency funds, even if you have the liberty of getting help from your parents whenever you need it. Instead, I think it'll be a much preferable idea if your parents gives you the money at a specific interval and you on the other hand puts it in your emergency fund under your custody, that way, your parents are indirectly helping you taking care of your emergency fund, by also providing you with financial support. This way you're sure that the emergency fund is accessible to you at all time.