How good are you at managing your money

[gabmen]

While we are all here on this forum to earn one way or another, how well do you manage that money after you've earned it. Do you trade your Bitcoin as fast as you can spending it all in a day or do you save it? I recently got paid for a job I did in programming and i keep finding myself wanting to spend more of that money i made. I have a lot of credit card debt and that is not good. I have destroyed only two ofg my credit cards to which I owe thousands of dollars on.

how do you spend your money?

To be honest, i am an expert in managing my money. I never spend all of my money at the same time. In my piggy bank there is always a large amount of money as well as my bitcoin wallet. The best way not spend money is to keep it in some places where you can not use it.

wow! expert! thats cool! You can be rich with that attitude dude! In the future you can save a lot of money through it! Keep it up! While me im not good in managing my money! Just  buy and buy! I dont do savings! Just buy all the stuffs that i want.

yeah that is a good way of saving. if you're not that responsible in spending and have limited self control, i think it's better of you have someone who you truly trust hold your savings for you. although for me, i just try to limit myself in spending only with what is necessary. it's hard but i think you need to have self control.

[1715251207]

1715251207

[1715251207]

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[danherbias07]

I still considered my self as a not so matured person, I always do love to buy things that are actually not needed especially now that i was earning good amounts in bitcoin but the good thing also is that i always do find time to save atleast 2% of my income

Still that is a good thing even if with just a low percentage. Knowing that you are already saving some is a good sign of becoming a good person at controlling his finances. I think many of us have walked the same path.

[Johnyloco]

Ik been involved in more serious trading the last time. It took me maybe 1.5-2years to get to a point of some proper trading. There was a time a few months ago that I had 500 left. I thought, what can I do with 500. Finally I made the decision to go for it. In this case it paid of for me, as I got a ROI and decent profit (not booked yet).

To achieve this, it is very recommended to make every month a list of all your income and spendings. Calculate saving into your spendings so this is already a set amount. Now you know what money you can spend. If you be careful with it you can save even more of your leftovers.  

[bamboylee]

I am slowly learning how to manage my money properly but I can say that before I discovered the right way to save money then I am really not good. For now, I still have some unpaid debts and it's not good because I earn only enough and my debt is already having its anniversary still unpaid. I will do my best to earn additional income to slowly pay my debts and then start to really manage my money properly because even if I earn big but I don't control myself then I can still not save. The way is to strictly follow my budget and spend only what I can afford to spend because what happen before is that I already spent unearned money that's why I am having that much debt.

Debt is really the enemy of money management. They collect large interest in a short period of time and if left alone will destroy you financially. It is right that you prioritize your debts, before indulging in any more spending of your money.

[Malsetid]

I am slowly learning how to manage my money properly but I can say that before I discovered the right way to save money then I am really not good. For now, I still have some unpaid debts and it's not good because I earn only enough and my debt is already having its anniversary still unpaid. I will do my best to earn additional income to slowly pay my debts and then start to really manage my money properly because even if I earn big but I don't control myself then I can still not save. The way is to strictly follow my budget and spend only what I can afford to spend because what happen before is that I already spent unearned money that's why I am having that much debt.

Debt is really the enemy of money management. They collect large interest in a short period of time and if left alone will destroy you financially. It is right that you prioritize your debts, before indulging in any more spending of your money.

yeah i think it's better to not borrow money if you can. just try to limit your spending to those that are just necessary. a lot of people went bankrupt by loaning money so i think it's better to just have self control and be responsible with how you spend

[serjent05]

I still considered my self as a not so matured person, I always do love to buy things that are actually not needed especially now that i was earning good amounts in bitcoin but the good thing also is that i always do find time to save atleast 2% of my income

This is a good sign of maturity ,  knowing your weakness means you can find a way to correct it.  2% savings is better than no savings at all.  I think you are doing fine as long as you continue this 2% saving rule until such time you are ready to make it  5% savings.  One step at a time is better than too many steps that will make you stumble.

[Rude Boy]

I'm just spending/wasting most of earning (BTC only) for paying mobile bills only. Other expanses will be based on my day work and at the end nothing left to save for the future use. After my father's death, i'm the one who have to run my whole family. So, I can't afford to save. Still i'm trying my best to save pennies.

[stadus]

I'm just spending/wasting most of earning (BTC only) for paying mobile bills only. Other expanses will be based on my day work and at the end nothing left to save for the future use. After my father's death, i'm the one who have to run my whole family. So, I can't afford to save. Still i'm trying my best to save pennies.

Paying for you mobile billing is not wasting money, you have use the services so you benefited on it, what I am trying to emphasize here is that we should have the capacity to determine the difference between wants and needs so we can manage our money well as what is important is to prioritize our needs over our wants.

[8Habits]

I'm just spending/wasting most of earning (BTC only) for paying mobile bills only. Other expanses will be based on my day work and at the end nothing left to save for the future use. After my father's death, i'm the one who have to run my whole family. So, I can't afford to save. Still i'm trying my best to save pennies.

Paying for you mobile billing is not wasting money, you have use the services so you benefited on it, what I am trying to emphasize here is that we should have the capacity to determine the difference between wants and needs so we can manage our money well as what is important is to prioritize our needs over our wants.

That is correct. As long as you uses certain services on important things, then that is a need. Each individual had really different level of wants and needs - to some, owning a car is a necessity because they travel a lot and they use it to gain credibility in their business dealing; while others, car is just a want especially if their work is just online and they seldom go outside.

[Taki]

With a lot of gambling that is taking place plus the sigs are almost all gambling sites it is really hard to control it when you know you have a bitcoin to use. It is good for bitcoin economy but not for people. I guess managing is really that hard when temptation is near you.

That's right but you should try harder. I'm sure you know already from your own experience that you can't make money with gambling. Gambling is a good distraction so I think it's nothing wrong with spending/losing around 1% of your earnings on that, but you will never earn with gambling.

I think all of us have some bitcoin wallets. If you man haven't create one more bitcoin wallet. And control yourself that money from one bitcoin wallet you will spend for gambling and try to forget about another wallet and in some time you will be nicelly surprised of how money you could accumulate there.

[italianobitcoin]

I'm pretty bad at it and I don't make as much as I used to.   But I don't have credit cards so I don't live beyond my means.  I guess I'm not as bad as I used to be.

I am also pretty bad with managing money because every time that I get my money I need to buy something at once because I know that I have it.
Because of that I sometimes can have a hard time at the and of the month.

[Zadicar]

With a lot of gambling that is taking place plus the sigs are almost all gambling sites it is really hard to control it when you know you have a bitcoin to use. It is good for bitcoin economy but not for people. I guess managing is really that hard when temptation is near you.

I agree with you , its really hard to resist to gambling  when   there are many  things around you  that is related to it for sure you would definitely use  up your bitcoin in able to play. I agree its  better for bitcoin ecosystem to spend those bitcoin but  for people  itself it would really give negative effects. thats  why its better  to focus  onto  other things  that would  cost you less compare to gambling so that you could able to save well.

[Viyamore]

I'm pretty bad at it and I don't make as much as I used to.   But I don't have credit cards so I don't live beyond my means.  I guess I'm not as bad as I used to be.

I am also pretty bad with managing money because every time that I get my money I need to buy something at once because I know that I have it.
Because of that I sometimes can have a hard time at the and of the month.

What do you mean you have a hard time at the end of the month ?
Thats the problem there you keep on buying things especially if it is unnecessary things. One thing you can do to minimize your spending on things is to have a control ,save your earnings on the bank and lock it .
Then whatever you have a hard time on the end of the month i think its enough for you to withdraw your salary .

[Noctis Connor]

i think i am still learning and do not have such a good experience in managing my money, i think it need some good time to think about and manage that how to spend my money and not to waste it.

You will learn everything soon just dont push your self to hard to learn new things thay fast if you really want to work for it and you can manage your money soon while you are makinh trade for altcoins just dont waste your money investing.

[Seansky]

To be honest im not that good at saving up my money but I can say that I save some but not that many. I sometimes spend money for things that I wanted and more but I don't buy what I don't need most of the time. I am debt free as well since I don't use credit cards and I don't ask for loans but sometimes I get short on money too but bitcoin saves me during that times.

[praprata]

How good am I at managing money? Well every month I am able to pay my bills, pay for entertainment and hobbies and also able to save.
So either I make too much money or I know how to handle and divide money pretty well! I think it's the second

[Bitcoinsummoner]

How good am I at managing money? Well every month I am able to pay my bills, pay for entertainment and hobbies and also able to save.
So either I make too much money or I know how to handle and divide money pretty well! I think it's the second

Managing money is not easy if you have a family 3 child and your wife have no works and you are the only who has job or source of income that you can live with your 3 child and wife.. you can not manage it well since my wife is too lazy and shes always eating without problem about bills every month because i am the only one who working for our family..
I can not save a lot in my salary thats why i collected bitcoins so that i have still a chance top be milionaire someday.

[Aamir1]

How good am I at managing money? Well every month I am able to pay my bills, pay for entertainment and hobbies and also able to save.
So either I make too much money or I know how to handle and divide money pretty well! I think it's the second

Someone with either management skills or extra source of income can be able to save money as you said, because the ones with management skills would save a part of their money while someone with extra money wont need to do that because he can easily save something from his extra income.

[ronaldo40]

How good am I at managing money? Well every month I am able to pay my bills, pay for entertainment and hobbies and also able to save.
So either I make too much money or I know how to handle and divide money pretty well! I think it's the second

Managing money is not easy if you have a family 3 child and your wife have no works and you are the only who has job or source of income that you can live with your 3 child and wife.. you can not manage it well since my wife is too lazy and shes always eating without problem about bills every month because i am the only one who working for our family..
I can not save a lot in my salary thats why i collected bitcoins so that i have still a chance top be milionaire someday.

I can feel what you say, it will be really difficult to manage the money, especially if you don't have a high salary. but it seems the bitcoin can help you earn extra money, so you can manage your money better.
currently I am still single and don't have a lot of needs, so it's really easier to manage money than you.

[bitdumper]

i am really good at managing my money specially when someone is paying for the work i have also done some managment services where i have managed some systems which are very much similar to signature campaingns and they have payed me too for it