After a few days of discussion, I understood how to spend the earned money in the right way and what kind of fund should be formed with the remaining money.
I have summarized what I understood in this regard below so that it is easy for others to understand -
▪️Proper structure of spending earned money
🔹 Basic needs: In this case, 50 percent of the earned income should be spent.
The areas of expenditure are-
. Food
. Clothing
. Housing
. Education
. Medical care
. Transportation
. Electricity bills, gas bills, etc.
🔹 Savings and investments: Here, a minimum budget of (30-40)% of the income should be kept.
Types of savings and investment funds-
. Emergency fund
. Pension or retirement fund
. Investment in gold or stock market
. Investment in cryptocurrency or Bitcoin
🔹 Entertainment and social expenses: In this case, 5% of the income can be spent.
. Travel
. Eating out at restaurants
. Gifts
. Expenses at social events, etc.
🔹 Some budget can be kept for personal development, donations and social service and other areas.
Now the question may arise, how can those who earn a small amount of money meet their basic expenses with 50% of their income?
In fact, everything is possible if you spend according to your income.
I am quite satisfied with the 50% spendings on your basic needs, for me your basic needs is the most important things on the lists and as usually should be properly taken care of from your earnings. It's very important that you sort out your basic needs first before considering others in the list because without sorting out your basic need,you won't be able to maintain a healthy lifestyle.
You can still be consistent in accumulating Bitcoin even if you're a low income earner. It all depends on how you manage your spendings and if properly utilize and from your discretional income,you should be able to buy a reasonable amount of Bitcoin weekly or monthly Using DCA without experience any financial difficulties. The main goal here is to keep on buying bitcoin until you reached your over accumulation stage and so it's better you continue to utilize your funds properly since you don't earn that much.