There is one thing that I want you to understand in bitcoin: no matter what when you are investing, that doesn’t mean that you will have nothing to you for your personal self, or that means you should not enjoy yourself. No, even though we all know that we need profit in bitcoin and we want the investment, we still have to invest the money that we can afford losing. That is the point, and if you restrict yourself from having all that you are already using just for the sake of investment, then what do you think will happen if someone happens to your investment? Even though we know that bitcoin is the number one trusted and reliable cryptocurrency to invest in without panicking about anything, that doesn’t mean you will always have a profit. Time will come that you will also lose, even though it is not much, but sometimes it tends to be much.
All I want you to understand is that when I invest in bitcoin, you should always know that you don’t have to break yourself or your bank to achieve that because you will end up selling to fix other problems, and from there, that has affected your investment for a long time, so let us know what we are doing in the crypto space.
I've always had my reservations with cutting down fat to maintain a process and I'm always of the opinion that you mut not harm your lifestyle in order to contain a new profitable activity, you can do more to make more money and dedicate the extra funds to the new process and in this case investing in bitcoin.
for example, if you are a person who hates working overtime at your work place and you are living fine with it and then you decide to start your DCA journey, you can do it without harming your living standards, you can do as little as taking the overtime duration of work and dedicate the funds solely to your accumulation journey, that way you are able to separate concerns and being very specific with your investment funds and also your accumulation journey would be smooth while you maintain your living standards.
In the case of no overtime jobs, you could even take up a side hustle and dedicate two or three hours a day to it for your periodic accumulation of bitcoin. You should thrive to make more money to cushion a new responsibility so as not to contain the mentality of always having to discomfort yourself in order to entertain every new responsibility that comes your way as a person. The side effects of always discomforting yourself is that you can get fed-up with always being the victim and disengage yourself with everything that brings about much discomfort to you, but when you are always crafty and making more money, you have a lot of fun on the way, sort yourself out easily and your individual effective adaptation quality increases.
We have to come out of our comfort zone to get something big. I don't have enough cash to go for Lump-Sum investment so I prefer to go with 100$ per week (i.e. DCA method). If that money is available to me easily per week then it's fine otherwise I have to look for cuts to manage my investment.
Don't think that investing 100$ in one or two month will take you to good financial status in future. Do enjoy life but managing capital for investment must also be one of top priority for good future otherwise you will end up in loss. To me financial cuts mean, cutting down spending's on outdoor food (that is good for your health too), luxury items like branded clothes, wrist watches etc. There are spending's in our lives which we all can easily cut down without putting too much stress on our life styles.
Actually investment is supposed to be done in a manner that it won't affect any aspect of our lives. Be it social, recreational and leisure aspects. Since our investment is for the long term I don't think we should neglect any aspect of our lives, because how long are you going to manage and suffer yourself for the fact that you are doing investment? It is always advisable to invest the you can in the sense that it won't ruin your other sides of life. That you are doing investment does not mean you should eat substandard food, wear inferior clothes, or leave in deteriorated house.
As you are investing make sure you are living good, eating good and healthy food, buy and wear good clothes and shoes, wrist watches if you can afford it. Bitcoin investment is structured in a way it accommodates all level of investors according to the financial capacity. Invest as little as you can afford, but don't deprive yourself the good things of life in the name of investment. You need to be alive and healthy to reap the benefits of investments in the future. If you deprive yourself the essentials of life and die along the line, someone else that didn't hustle the money with you, will be the one to spend that money you are investing recklessly in your absence.
Yes it's true that investing 100$ in one or two month won't take you to good financial status in future, but since we are investing for the long term and not short term, I think it's fine. Just imagine investing same amount consistently weekly or monthly for more than 10 years. Haven't you heard this saying before that " A little drop of water makes a big ocean".