Topic: Bitcoin investment helps in better funds management. (Read 163 times)

If you find yourself to be doing long term investment on Bitcoin then stick to it and keep going using investment rules 50/30/20 where you spend 50% of your income for your want,  30% for your need, and 20% for investment.
How much Bitcoin could you be accumulating weekly/monthly to reaching your target, because Bitcoin is already expensive and it's pretty much hard to acquire bigger quantity, do you think $50 worth Bitcoin weekly/monthly can get you to the peak you want.

And another, investing in crypto needs you to be getting a steady flow of income from different streams so you never feel worried and never get panic attack when the value of your asset depreciates.

Continuing my bitcoin savings journey has really helped me manage my money properly.
How? Because the opposite should be the case and not this way.
I think the importance of such plans regarding BTC is immense, Bitcoin acts as part of creating an open financial system. You have to be a big fan on Bitcoin then you will become more competent and fair about Bitcoin. Bank or unbanked, the idea is that Bitcoin investments give you more control over your financial future than traditional money. Investing in Bitcoin is an unyielding attempt to deal with any risk or situation, which is expected to serve as a symbol of its long-term progress.

I have also come to realize that too. You when you have the plans to invest to safe your future from poverty, you will always be serious towards achieving your goal. Someone investing will always think about his investment most of the time and he will also monitor it to make sure that he is doing the right thing and that the investment is growing. This will make you be very cautious of how you use your money. Since I have been buying bitcoin weekly regularly, it makes me think less of spending funds on things that are not important to me.

 This is because I always think of not skipping my weekly bitcoin purchase, and it has helped me a lot. I have done what I have never did before since I started my bitcoin journey. I was able to know how much will be able to take care of my monthly expenses, and how much I will be left with after all expenses. My spare money is what I use part of to buy bitcoin. I don't touch the other part, I am saving it to pile up in fiat so that if an emergency occur, I can take from there without selling my bitcoin. This is because I want to have a good size of bitcoin in since I have confidence that bitcoin can give the a good profit over time, also bitcoin is an hedge to inflation, so it is like you are safing your money from depreciating which is very important.

No be lie, e no easy for person to really hold emself for this country especially if e get small thing wey dey e hand, e no easy, because of how things dey cost everyday and no how wey person no go spend, as far as person dey this country.

So the only thing person supposed do na just to go lock am just as the OP talk, if our money dey in crypto, we go find am hard to easily go access am, especially if we get wetin no too dey relevant like that, we go reason the stress wey we go go through to convert am for naira, we go just leave, go find another means, this way dey make us mk we no spend carelessly and as far as e dey for crypto, we go find am easy to hold am for long self.

Personally your investment goal and visiond would always determine how you'd spend your funds and do, I'd you as a bitcoin Investor do have to consider the economy conditions you'd realize the outcome between living your normal financial spendings, increasing in your financial spendings or limiting on your expenses. It's all about adjustment to fit your investment goal in other to achieve your aim.
Most definitely, your visions to economical expenses would stand you the chances to increase your incomes and then spends on the low.

Wow, that's Amazing. I never knew Bitcoin could also be this advantageous to one's financial activities. But I could picture the whole even and deduce that it's a true fact and it's a good one. Having more of your saving in Bitcoin and not in fiat currency would actually position your mind to think of it as scarcity especially when you are deciplined enough not to temper with your investment except the initial goal of investing has been met. Though I'm yet to buy my first Bitcoin, but based on advice and content here on forum, I'm hopping to secure a job first that could keep my investment rolling without any obstruction. To round it all up, I believe in Bitcoin and the potentials it tend to create in our financial lives because lots of testimonies have been shared, I hope to join the testifies soon.

I figured out same myself, I really think he didn't take his time to adequately digest the topic, or he has a different point of view which he didn't throw much lights on. Nevertheless, it really feels good to know some people like you really took time to digest good contents to even cite a reference. I was giving my testimony from my dedication to accumulation of bitcoin and how it has shaped my character financially.

It's kind of a motivation to others how bitcoin investment can also help shape your financial life, not only for futuristic gains, but personal behavioral modifications in the financial aspect of life. I think and have come to know that the positives we are dedicated in carrying out has a way of shaping our lives for the better, just like bitcoin accumulation has done to me.

Bitcoin investment de help investors wey de very serious to hodl for long term, so dem go de very prudent for di way wey dem de take spend money. E no too de easy for an average income earner wey get responsibilities and oda needs like to go outdoors to enjoy himself, unto say if you want to satisfy all of your needs e no go de easy to do your DCA method. Dat na why I support wetin di OP talk, your Bitcoin investment go make you to forgo some kind of unnecessary expenditures, so dat you go diligently focus on your Bitcoin accumulation and hodl for long term. E de important for us wey de into Bitcoin investment to de give am priority, odawise we no go fit to sustain hodling for long term.

I guess you've not read the entire piece the OP has written down to understand what he's saying. From the context I see him making his analysis from, continuous accumilation of Bitcoin really helps you to manage your finance and spending habit.

Let's assume a situation where  you have an equivalent of $10k worth of Bitcoin in your wallet and then you have something that caught your attention and you're damn tempted to buy that stuff, it's more deficult to buy that thing with an amount you've kept out for your investment than having your money in fiat form which you can easily make your buys whenever you want to. The knowledge of Bitcoin also comes with setting other things like your emergency funds in order while you're making your investment and this all contribute to making you financially wise and helps you to make better and informed financial decision such that your investment isn't exposed to being tampered with. If you're a long term investor and you haven't figured out how best to manage your funds, you're obviously not a good investor and can't in the real sense undergo a long term bitcoin accumilation journey.

It depends on the currency or crypto you are deciding to leave your funds in and if its sime kind of business savings your doing and your funds is in something like bitcoin then that's wrong, investment should be long term especially when dealing with volatile assets cause you can never tell how the market woudl turn and you might end up having a lose rather than profits, unless your saving them in a stable coin, and from your explanation you never indicated that you are investing that money but rather only keeping surplus in your wallet to limit your spending and that's not investment.

Skills can be developed, it doesn't come with a person into this world. The most important thing is the desire to do something worthwhile. I've desired this for almost four years now and I only achieved it last year. Been on the path and grind for years until I got what I ever wanted. Everybody has a great IQ. you only need to develop yours intentionally.

So the first thing is to start your journey to financial freedom and no dependence on your bitcoin investment. Take up a skill,  enroll in trainings and be committed and dedicated to it. Keep upgrading yourself and one day you'll get what you've ever desired. The key is never to lose focus. Even when you arrive at what you've desired, you need to keep moving and upgrading your skills while you earn  so you'll not be outdated and get back to the starting point.

Bitcoin investment has helped me to become more disciplined, I hope it helps someone else maybe in the same or a different way. Let's keep getting better everyday.

You found a solution to your financial challenges by being disciplined at DCAing and accumulation of payments received for job done in cryptocurrency.  It's a good effort and a motivation to many of us including myself that it is possible to increase ones ability to earn and still have Bitcoin investment that is being accumulated as future investment of financial freedom and wealth.

While you have done well to seek out other means to earn in the physical world, your testimony might just be more favourable for you than those who depend solely on their Bitcoin earnings or profit from trade and have neither the skill nor IQ nor education to seek out a well paying job that would afford them same time frame and attention to keep an eye on their Bitcoin and cryptocurrencies investment.

If you're investing on bitcoin and having it as your preferred financial digital currency of your choice, then you are open to many opportunities at the cause of this, you can make interest on your asset over time of you're able to hold without having to risk anything as the market pumps, you can decide on spending from the profits realized as the case may be whereby you still maintain your investment asset and continue holding, lastly, upon trying to make any transaction, you have the privilege of customizing your transaction fee to an affordable rate if you're making use of a wallet that permits for RBF.

I might not capture you too well in further details but as quoted, my dedication of investing in Bitcoin has actually help me personally on my financial management by which I became a disciplinary spender after learning to keep accumulating on the DCAs definitely with some amount of funds that I do not have urgent budgets for.

I have really learnt to have specific amount of money in my bank and once I am approaching to bankrupt, I would have this reminded that... Hey, watch how you spends because once you runs bankrupt you would be optioned to temper with your Bitcoin assets which does not seem right because it is stored right in the Bitcoin as an assets yielding you incomes and not on a stable stock where it does not bring you values of profits like the one in the bank which you just squandered.

This thought would always have me a threatened reminder that if I keep to ascend withdrawal from my Bitcoin whenever I needed some funds, then I am gonna run bankrupt and no alternative source of income to attain my future goal.

Thanks for this question. I used to have lots of lose cash which I spent mostly on irrelevancies, gambling and flexing. But continuing active bitcoin investment helped me channel the lose funds into increasing my bitcoin  portfolio. Now focused on increasing my portfolio, I have more limited bankroll  available and I'm forced to manage it properly, entertain my needs and even  take up  extra jobs to make more money when I'm tempted to  finance a want. I've really straightened up. It doesn't affect me because I  always had more than enough. It helped me reduce my personal inflation and become more meticulous in handling my bankroll.

How? Because the opposite should be the case and not this way. If you are investing in bitcoin then you have the chanced to increase the investment from you business and not the otherwise or probably you are a short term investors who sell off your bitcoin whenever u gain small to manage your local businesses. Well that is another reason of investment to develop your local small scale businesses. The financial management can be properly managed by the two terms which I have mentioned but the long term hodling it for a long term.

Continuing my bitcoin accumulation journey has really helped me in proper management of my finances. I had a little review over the weekend on my financial activities and I deduced that having most funds in my wallet and not in my bankroll induces some kind of scarcity mindset in me since the funds are not very surplus in the bankroll and by virtue of discipline, cashing in my investments isn't an option, so I was self-motivated to curtail some excesses in order to be a committed and consistent investor.

The beauty of it is that I effortlessly do now what seemed very hard earlier which is setting good portions of my finances for savings and investment. The temptations to overspending reduced with my changing my mindset on my spending habits owing to the now limited bankroll and I'm able to plan more with the limited funds in my bankroll, more like my investments made me more responsible.

Furthermore, I was able to push myself further to the extreme to scout for other stuffs to embark on to raise more money if I must attend to a less pressing need, so I kind of doubled my hustle and made more money to suite my lifestyle while my accumulation journey runs smoothly.

It made me really feel good as I looked at my financial achievements over time and I was proud I had made the decision to HODL. I would love to hear your own version of the story if any, and in what ways your bitcoin investment journey has helped you manage your finances efficiently.