Post
Topic
Board Nigeria (Naija)
Re: Balancing Financial security and Bitcoin Accumulation
by
TokenTikas
on 23/08/2025, 03:16:54 UTC
If we end up spending our income prior to accounting for expenses, then when we have expenses that are due, we either have to spend from our back up funds or we have to spend from our bitcoin, and so we are trying to prevent situations in which we will have to spend from our bitcoin at a time that is not completely of our own choosing, and so we sometimes could make mistakes which provides greater justification to have various back up funds.
This happened before, I sold my some bitcoin when I was in trouble. Although I thought there was no bigger problem than our trouble then. I sold my some bitcoin, spent my bad time in daily life, and got rid of the danger. However, I agree with you that we must have a backup fund in addition to investing in bitcoin. Although Bitcoin investment also works as a backup fund for us, if we have another fund, we will not have to sell bitcoin anymore and will be able to continue investing for a long time.

Quote
Sometimes we might have to purposefully look for opportunities and ways to increase our income and/or to cut our expenses, so that we will have more funds to invest in bitcoin and hopefully also allowing the creation of cushions so that we do not overdo our spending based on our income.
This is absolutely true, which is what I am trying to do. With the medium through which I earn, everything in my daily life and DCA is going on. I try to do something extra during the holidays to earn extra money. This will be more helpful for my investment, and the investment amount will also increase. I don't know what anyone thinks, but I think the best thing to do is to increase our income purposefully and reduce our spending by eliminating our random ways of spending.