Original archived Re: Balancing Financial security and Bitcoin Accumulation
Scraped on 01/07/2025, 16:41:57 UTC
2. Bitcoin Accumulation: 30% of your income should go to your discretionary spending, you can choose to use all 30% to accumulate Bitcoin or use a lesser percentage, it's totally up to you, but note that it should be a reasonable amount.
Me I no support the idea of using all 30% for accumulating Bitcoin. Don't put yourself in a bad spot because you want to prioritize accumulating Bitcoin. Use a smaller percentage that won't make you run out of cash or get to use your emergency funds for things that aren't emergency. Plan your finances properly and allocate your funds very well. No do pass yourself. Say your friends they invest 100k monthly no go make you to dey do the same. If na 10k you fit afford and you no go broker, they run am like that and soonest you go done accumulate some decent amount of Bitcoin.
I totally agree.
There's no definite percentage for saving like the one OP came up with called the "50/30/20." The amount a person earns and his responsibilities are intertwined, and it is what influences his savings. Some persons have bills upon bills on their heads, while others do not or have less. These are important factors that should be taken into consideration when setting aside funds for savings or Bitcoin investments. No one should kill himself because of a formula, the most important thing is to try and save, no matter how small.