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While investing, never invest with money that is essential for your livelihood. Invest some money that will not come in handy easily. And also try to keep an emergency fund. So that you do not lose your investment.
Sometimes mostly Bitcoin investors get carried away and invest aggressively with money meant for one or two of their basic needs, and when the needs arise to use the money for what it was intended for, they sell off their Bitcoin or temper with it just to address that pressing basic needs, and that's a terrible way to invest in Bitcoin, that's why it's mostly emphasize by sir jayjuangee that buying or investing in Bitcoin aggressively is not a bad practice, it's actually a good thing to do especially if you are seriously lacking behind in your accumulation journey, but in any purchase you do, make sure it's within the confinement of your discretionary income, and if you can invest or buy aggressively within your discretionary income, you will be fine.
It's only when you invest outside your discretionary income that their will be problem, so in all we do, we should not invest with money meant for any of our basic needs because it's like making a chicken your friend, one day you will sure eat it.
It depends on how responsible we are in maintaining our investments. A commitment must be made not to disrupt our investments, regardless of any pressing circumstances. However, solutions can certainly be found without disrupting them.
I've experienced something like this before, when I was too aggressive in expanding my portfolio, which impacted my finances. However, I firmly and responsibly resolved all those issues without disrupting my investments. So, what's important is simply taking responsibility for our actions.
You will be safe if you invest in Bitcoin using your extra income, but if you have extra income, then investing aggressively is never bad because it provides you with protection, because it does not cause any harm, but when you invest in Bitcoin to meet basic needs or by borrowing money, you get into trouble, because these can create a lot of financial stress for you in the future, because when you invest in Bitcoin without meeting the basic needs of your family, you will fail to complete the Bitcoin in the long run, and again you may be forced to sell Bitcoin due to not having money in hand for your necessary expenses, if you invest with borrowed money, then your debt burden will be burdened and if the price of your Bitcoin continues to fall, then you will panic in another way. On the one hand, you will be worried about the price of Bitcoin and have trouble paying your debts and so I don't think it's ever right to invest with borrowed money or without meeting your family's basic needs, so it's very important to invest using your extra income, whatever your surplus is.
What do you mean by using your extra income to invest in Bitcoin? I don't really know what you meant by extra income but I want to let you know that what is supposed to be used in our investment is our discretionary income and you dare not use any money outside this to invest in Bitcoin else you will have yourself to be blamed and secondly you don't use extra income to invest aggressively what you use to invest aggressively is your discretionary income anything outside this means you are not following the principles and you might end up not achieving your goal or target.
Borrowing money to invest is a very big mistake
someone will ever make especially in investment like Bitcoin that has to do with long term, if you don't have money work hard and make it then later you invest.
I get your point, borrowing to invest in bitcoin maybe risky because of the nature of bitcoin, bitcoin is volatile in nature and such noone can predict the market correctly. So if the market isn't going as we speculate and it happens that we borrowed money to invest them we will end up been in debt to repay. However taking loan can really be a leverage when we are confident with the strategy we are investing with and also when we are expecting money to pay the loan. So it only becomes a problem when there is no proper risk management. Therefore it is always good to invest with our own money.