I can agree with this one, definitely a better deal to learn how you can manage your finances than restrict yourself with money that you could've used for emergencies as @Maus0728 has pointed out and OP either you're a rich man or a well to do with your finances that you've got a lot of excess money to do this kind of thing. For me, even though I've been a hodler for a really long time, I think that I won't be able to do a 40 year restriction on my bitcoins, I like to at least enjoy whenever I feel like I've profited enough already so that's why I can't do anything like that but if you're going to push for it OP, I wish you all the best and I do hope that you'd find a way to make things work for you. Maybe consider also what others have said about this thing that you're doing, you don't want to be starting something and then end up not committing to it because at the middle of this journey, you've found some problems, do your utmost consideration of many factors before committing OP.

If you are locking your Bitcoins for a finite period of time, then what about the emergency situations?

Or maybe OP, you can learn to say no to some things, I assume that the reason that you're spending too much money not because you're spending it on yourself but because you're eager to spend money for someone else, be it for an individual or an occassion, maybe if you do that and you being able to learn to backpedal with your expenses, you'd probably make some progress, as @apogio pointed out, it's really difficult to do what you're doing and time consuming so I elected you to offer a solution that's much better because you still be able to use the money and it's at your disposal, you won't be having any issues with it and you're not worried for emergencies.