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.
You have described a very beautiful situation. But I feel very bad for those people who do not even understand that an emergency fund and investing in Bitcoin are two different and important things.
Many do not try to understand that these two things complement each other. There are many people around me, if I try to convince them that you should create an emergency fund, they will not listen to me but listen to my logic. Those inexperienced investors start explaining that if we face any big problem, the money we invest will save us from the trouble. This is one thing I have not understood them till date that they are wrong. Investing is not to fill the space of our emergency fund. There are also many people here who think that in an emergency situation we will break the investment and finish the work and start investing again later. But this is a wrong approach. Investment cannot be broken to deal with any situation. In this way, we will never reach our goal.
Discretionary income and emergency fund are equally important for investing in Bitcoin.
Therefore, along with starting our investments, we also need to start working on our emergency fund.