Maybe an example might be helpful?
Go back to my earlier example. My hypothetical guy had variance in his income and expenses, yet I also mentioned that many times his income was $1,500 per month and his expenses were $950. So that means he ONLY has $550 left for all of his discretionary income for each month, which I thought was more than a decent income, especially if we might be hypothesizing someone who might be somewhat relateable to folks in Nigeria.. even though sure, this guy might have a higher income than what is typically expected.. but still he ONLY has right around 36.7% total for all of his discretionary income that is left after he accounts for his expenses.
Omo, JayJuanGee… you Dey write shah, to read all these thing way you just carry yakata for here like this no be small kind reading but the thing be say, you make certain interesting points them. I no see you write pigin but, I believe say you understand am via we naija yarn. Oya make I follow up for English!
Given that all that it’s stated in quote is hypothetically, if someone is earning $1,500 in Nigeria as his monthly income, you are well living somewhere above the middle class and could be said to be a reach man. That’s over #2.3m in our local currency with exchange rate at #1,560 and that’s money for months, even with kids to feed.
Should you have expenses to be covered at #950 for the month with a discretionary income, you’re doing so well and it could cover both for financial security and Bitcoin accumulation very well. Using same rate at #1,560 would mean, $550 is well around #850k which is close to a million. That’s a lot of money that can well go into build a portfolio and also do your fiat savings if you care about such things.