This is how important for having a emergency fund aside from considering to have discretionary income to use for investment. Since they can make sure that they have some funds to use for their special needs and they don't need to touch their investment and sell it more earlier on the timeline they set.
If they always think about investment and use all everything they have for this purposes then provably that they might suffer on rainy days season in their life. Since this situation could make them fail and its so bad if when they sell because they don't have a choice the current market situation experiences a bearish run, with that they have good chance that they might lose some amount and that completely waste of time and effort for them.
Some newbies become fascinated by Bitcoin and want to invest all I had. They might have the perception that they would make profit within a short period. Bitcoin is an investment that becomes profitable if it is kept for a long time, hence, investors should have plans for the unpredictable future.
I often encounter beginners who think that cryptocurrencies, especially Bitcoin can generate significant profits quickly, but this isn't the case. They should understand that investing takes time, managing a portfolio to grow it, making gradual investment repayments, or using a Dollar Cost Averaging (DCA) strategy, so they can see the long-term benefits of their investment. By the way, portfolio management is the important one, especially for beginners, it is best to manage it with money that you can truly guarantee you can hold for the long term, so it is best to avoid using it altogether, and using discretionary income is also the same. Alternatively, you could allocate your fiat savings to Bitcoin, but I don't recommend investing in altcoins, as there are so many considerations and risks on it.