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Some people create emergencies by employing weak cashflow management practices, and they end up getting themselves into emergency situations through their own sloppiness and their failing/refusing to sufficiently prepare themselves.

You are actually right about this sir, most people are just too terrible in controlling money, you will see someone going for wants over needs, and when they have finished wasting the money on things they bearly needs, they will start lamenting that if they had known, they would have utilized the money wasted on this or that pressing needs, so not just in Bitcoin investment, in our daily lives also, once you fail to control your finance properly, at some point, you may run into trouble, which might affect your finance and your Bitcoin investment negatively, so a very good money management skills is greatly needed in other to be able to be successful in your holdings.

Well, we should be able to put needs above desires, but it seems that some people still put their desires above their needs, making it difficult for them to manage their finances, and one of the factors that causes this is because they are too proud and maintain their prestige. I actually have no problem with that if they are able and do not force themselves.

And in relation to investment, investment should be a need (in my personal opinion), not a primary need, but at least when all our basic needs have been met, investment is something that is below those basic needs. When we make something a need, what happens is that we will try hard to get it. It may be a little tiring, but to achieve something, we must make sacrifices, whatever it is, as long as it does not violate certain norms or laws.

If they have that attitude that they can't manage well their finances since they get easily get tempted to do unnecessary things or spend on something that they don't need then that contribute for their failure.

They must fix first those attitude and learn to have proper discipline and good budgeting on their finances so that they can meet those things that they need and they can pay attention well on the investment choices they have done. Since Bitcoin long term investment is long term commitment that's why they should know to budget well so that their chances to succeed will be high and they won't engage on selling their Bitcoins for nonsense reasons.

Most people are quite reckless in terms of managing there resources, for someone who is trying to invest and build a portfolio it is sometimes to learn how to be discipline in terms of managing there in come and also trying to adjust and have a focus of building a better portfolio. It’s very important to be more focused, if someone has a bad attitude in terms of managing there finances would probably fall short in terms of building there emergency funds and Reserved funds.

Investing in bitcoin doesn’t really stop us living our daily life and enjoying ourself but sometimes it’s just wise to adjust some certain aspects of our lifestyle so we be able to have a discretionary funds for investing and accumulating and to hodl. And also trying to be care so we don’t employ a certain way of poor management that leads us into emergency situations that we might not be able to recover from it because of bad cash flows

Extra buoyant spendings can keep an investor out of focus and track in his Bitcoin investment. Since he is just spending funds recklessly and doesn't have a spending records to keep him in check,he might starting missing out in his Bitcoin accumulation periodically which wouldn't be healthy For his investment. for this kind of investor,the need to keep a personal records of things he spends his funds on a regularly basis is necessary,it will help him knows what's eating most of his funds so that he couldn't start avoiding them and optimizing his excessive spendings gradually to help him get back in track. For a potential investor, keeping a healthy Bitcoin portfolio for the long term is very important and one of the best way to achieve that,is consistent and steadily accumulating of Bitcoin and by ruining out reckless spending will help him achieve that in the long run because he will need adequate funds from his discretional income to keep him stashing.