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.