To be honest, the whole idea of emergency funds being pressed on people’s necks sounds a bit off to me.
First of all, we’re always told to only invest what we can afford to lose something that won’t break your back if it disappears.
Then, regardless of any aid or help you might get, you’re still expected to have some financial capability to handle your regular struggles without throwing all your money into crypto.
But does it really have to be called “emergency funds”?
Hey @Slimzeee think flexibly and with experience, this seems like a strange sentence because how can people plan to struggle and invest without an emergency fund? When it comes to investing, it's said to invest as much as you can but it doesn't mean you should stop spending money on your emergency fund. In light of your opinion it is correct to say that if you don't have a backup fund or emergency fund, your back will simply break in uncomfortable situations. Moreover @Slimzeee if you really prioritized Bitcoin investments so much, you wouldn't have to use this phrase to find a way to prevent future problems with your holdings. I still know that in life, an emergency fund is not an optional thing but is considered a necessity, whether to protect the family or to protect investments.
Plan some time to literally close your eyes, if someone does not receive free healthcare in their country and does not even have a backup fund at that time, what would be the process? My curious mind says there are a few things that you should spend money on in this context take an example it can be mentioned that necessary expenses, investments, savings, and emergency funds must be adhered to.
If you are on DCA strategy to continuously accumulate for the long term that means that you must consider emergency funds so that you won't be tempted to sell your Bitcoin prematurely. There is need to plan for unforseen expenses because nobody knows tomorrow, health issues can happen, unexpected bills or loss of acomodation due to natural or man made disasters. If you don't have emergency funds at hand things can get out of hand that is why it's importance cannot be overemphasized. People undertakes many types of insurance because of unforseen events and the premium they pay is part of emergency fund.
If you're going into Bitcoin investment you need to first have a budget for your income before knowing whether you're qualified to start. For those that have started they need budget to know whether they're continuing or taking a break. Starting DCA is simple but sustaining it is where the challange lies for low income earners, there's no gain in buying today and being in dire need of money in a couple of days then selling it. Income earners should have a sound and feasible financial management plan that includes basic expenses, discretionary funds from where emergency and DCA funds comes out from.