Is budgeting still effective in tackling the need to constantly withdraw money?

[CaVO32]

Withdrawal can become a habit. Once you develop the habit of withdrawing either fiat or converting your crypto holding to local currency for use, It almost becomes so difficult to break.

Needs and wants/problems to solve with money never stop arising, how do you handle your withdrawal? Be sincere, considering that local currency is becoming less of value as the cost of things are constantly rising now, so much that the cost price today is not the cost price tomorrow. Is a budget still effective in your opinion?

Withdrawing could really have significant reasons neither you do need for your needs or would simply just for you to buy your wants.We do have different priorities in life and actually it doesnt matter on where
you do spent of those money you do have because its yours after all.You do have the full control of it whether you do make use of it on other purposes then its our right and no people could stop
because we do earn those money then its just normal that we do make use of it according we do like but of course we do know the possible siituations or problems might be faced on.

As long as you are spending your own money, then, nothing is wrong with that. But if you want to limit your unnecessary spendings, then, just withdraw your money if you need it not because you want to. You can also make a monthly budget so you know how much is spend to what. And if you can trim down unnecessary expenses, that would be best. Look for the items where you can save money.

[dothebeats]

I still work on a budget, and try to restrict myself from withdrawing and spending for unnecessary things in my life. It’s hard at first, but it’s worth trying especially if you’re just living alone like me. Though things will change once you have a family that you’re raising. Budgeting will then, be hard and there will surely be times when you need to swipe and withdraw some cash. You can’t really say no to that, as that’s the needs of your family. Hence why the family dynamics nowadays is different compared to the last few decades, as both parents need to work in order to serve some food on the plate.

[dunfida]

Withdrawal can become a habit. Once you develop the habit of withdrawing either fiat or converting your crypto holding to local currency for use, It almost becomes so difficult to break.

Needs and wants/problems to solve with money never stop arising, how do you handle your withdrawal? Be sincere, considering that local currency is becoming less of value as the cost of things are constantly rising now, so much that the cost price today is not the cost price tomorrow. Is a budget still effective in your opinion?

Withdrawing could really have significant reasons neither you do need for your needs or would simply just for you to buy your wants.We do have different priorities in life and actually it doesnt matter on where
you do spent of those money you do have because its yours after all.You do have the full control of it whether you do make use of it on other purposes then its our right and no people could stop
because we do earn those money then its just normal that we do make use of it according we do like but of course we do know the possible siituations or problems might be faced on.

As long as you are spending your own money, then, nothing is wrong with that. But if you want to limit your unnecessary spendings, then, just withdraw your money if you need it not because you want to. You can also make a monthly budget so you know how much is spend to what. And if you can trim down unnecessary expenses, that would be best. Look for the items where you can save money.

Limitation is a must because we cant really have that infinite money and earnings that we could get which basically means that savings is a must.We dont know on what comes next neither a health problem or some
situations which would really be needing lots of money in case and if you dont have  that just because you do spend too much in the past? Then youre fucked up.

Spending should be on moderation but it cant really be avoided that there are things which we do really wish for or we would like to buy and its normal but dont just go to the part on where you do
really ending up on buying excessively or not healthy anymore.

[chrisculanag]

I always withdraw my saving in crypto if i need some budget  for the future , but if you budgeting your crypto preparing to withdraw , i suggest that you need  to limit your holdings or mean to say is get only less to your saving. For me budgeting our assets are very important because its give you more profit while saving . But its only my opinion , we have different method of budgeting so be wise always.

[icopress]

Budgeting will then, be hard and there will surely be times when you need to swipe and withdraw some cash. You can’t really say no to that, as that’s the needs of your family. Hence why the family dynamics nowadays is different compared to the last few decades, as both parents need to work in order to serve some food on the plate.

How do I understand you ... until 2019, I kept all my savings in Bitcoins or other cryptocurrency, and looking back, I understand that 70% of my operations for converting BTC to fiat occurred at a price that was far from the desired one. It may seem to you only at first glance that small amounts are not important, but when there are several or even more than a dozen such operations in a month, and if you add to this the ex costs, then the losses are significant.

I hardly realized the reality, although even after that I fed myself with excuses that this is nonsense, that it is better to lose a couple of extra bucks than to use the services of banks. Now I change a large amount in advance for my needs, and try to do it at the peak ... this way I do not waste extra dust and I always have a margin in case I see a great opportunity to average the price of my modest BTC portfolio, (although right now my crypto reserves are really small).

[Hydrogen]

Eras of high inflation, as the present are a great time to generate your own electricity, grow your own food, have your own supply of water. The cost of essentials and liabilities are likely to climb soon. Being self reliant and producing to fulfill your own needs is the best way to overcome climbing inflation, market shortages, rising food and living costs and similar negative trends.

Food and rent are usually the two largest pie slices of a person's monthly expenditures. While rent or mortgage costs are difficult to address, being able to grow food and produce which can offset rising food prices and market scarcity could be one of the best investment options the average person can pursue in 2021. The cost of plants and fruits can be considerable at the moment. Shopping on websites like homedepot the cost of a small avocado tree can be $50 to $100. In some regions of the world, a person can throw an avocado pit in their compost pile as garbage and it'll sprout and eventually turn into a tree.

Home gardening and organic farming might be two big areas worth focusing on, more than budgeting, saving and commonly touted traditional finance ideology.

[sunsilk]

Is a budget still effective in your opinion?

Yes, it's still working for me but I also break my budgeting most of the time.

But the thing is that even if I budget well and I have other things to buy that's not listed on the budget and I need that thing then I still have to withdraw. It's very common to me that most of the time I withdraw because I don't hold a lot of cash and I just keep it on my savings.

So the withdrawal of cash is needed whenever I got outside for our needs. Budgeting is needed for most of the time when I go out and when there's a lack of budget because later on I used to buy things but they're not unwanted or just things that I want.

[Sled]

Withdrawal can become a habit. Once you develop the habit of withdrawing either fiat or converting your crypto holding to local currency for use, It almost becomes so difficult to break.

Needs and wants/problems to solve with money never stop arising, how do you handle your withdrawal? Be sincere, considering that local currency is becoming less of value as the cost of things are constantly rising now, so much that the cost price today is not the cost price tomorrow. Is a budget still effective in your opinion?

I'm guilty on this one, I sometimes go overpending quite a bit than my budget or salary. I keep on reminding my self to refrain from too much spending even in fiat or crypto savings.

Lately this past few years, I did come to a point to stop my habit and came up a plan on how to break this spending habit. Just spend only when necessary and invest more to gain and profit for future needs. Budgeting is still necessary and effective to track your spendings, but still sometimes I still go overboard.

[davis196]

Withdrawal can become a habit. Once you develop the habit of withdrawing either fiat or converting your crypto holding to local currency for use, It almost becomes so difficult to break.

Needs and wants/problems to solve with money never stop arising, how do you handle your withdrawal? Be sincere, considering that local currency is becoming less of value as the cost of things are constantly rising now, so much that the cost price today is not the cost price tomorrow. Is a budget still effective in your opinion?

I have the same habit and I can't resist the urge to always have lots of cash/fiat money in me.
I simply don't care about this.I don't see it as a problem.The inflation doesn't matter,you will always have to rely on local currency in order to buy necessary stuff,food and to pay the bills.
Not withdrawing my money and keeping all my funds in the form of cryptocurrencies is not an option for me.
Budgeting is effective only if you set your spending limits and never break them.

[Lucius]

Eras of high inflation, as the present are a great time to generate your own electricity, grow your own food, have your own supply of water. The cost of essentials and liabilities are likely to climb soon. Being self reliant and producing to fulfill your own needs is the best way to overcome climbing inflation, market shortages, rising food and living costs and similar negative trends.

All this makes sense and I personally try to be as self-sufficient as possible by having my own property, growing organic food, having access to clean water, and I plan to at least install solar panels to at least somewhat reduce electricity consumption. But a good part of the population lives in cities and in residential buildings where they have almost no ability to do any of the above - they are completely dependent on the system.

In addition to growing your food, you need to have the knowledge of how to do it in addition to the land, be ready to get your hands dirty, and also be lucky with the weather influences that have changed for the worse lately. Frequent summer hail storms combined with extremely high temperatures have significantly reduced agricultural yields around the world, and from personal experience, I can say that I have never experienced more heatwaves than this year. This only increased the cost of production in my organic garden even more, because I had to protect the plants from the sun with protective covers.

Still, the effort paid off, not only did I enjoy healthy fruits and vegetables (which I still have), but I filled the pantry with what will help me survive the winter, and of course I rely on BTC to help if needed

[LogitechMouse]

Withdrawal can become a habit. Once you develop the habit of withdrawing either fiat or converting your crypto holding to local currency for use, It almost becomes so difficult to break.

Needs and wants/problems to solve with money never stop arising, how do you handle your withdrawal? Be sincere, considering that local currency is becoming less of value as the cost of things are constantly rising now, so much that the cost price today is not the cost price tomorrow. Is a budget still effective in your opinion?

Withdrawal might be a habit for some but there are 2 words that might help you control yourself with it. Self control and self discipline.

Removing things that you are doing most of the time is really hard but if that thing can affect your life negatively then it is time for you to remove it or at least to lessen. In this case it is withdrawing always. As for me, I'm always budgeting what I'm getting on a monthly basis and it really helps me a lot both in spending and saving. Constant withdrawal of money can be reduce if you know how to control yourself. Just withdraw money if you need it but if you just want it then don't withdraw. Sometimes, priorities help you decide whether you need to withdraw money or not.

[noorman0]

Yes, it is still effective, and budgeting for basic needs should come from fixed or main income. If the OP's topic relates to about handling crypto withdrawals, is crypto the main source of income so there is a demand for withdrawals all the time?

If you ask me, There is no crypto-based needs budgeting, withdrawals are almost non-routine so there are no special arrangements to minimize withdrawal fees and frequency.

[michellee]

Needs and wants/problems will always happen to us so we need money to solve them. When we have money in our banks, I think we do not have to withdraw our coins and send them into our banks and hold them until the price increases. I withdraw every month, maybe in monthly, I can withdraw two or three times based on my needs. And if I have an urgent thing that needs money and I do not have the money in my bank account, I will withdraw to fills that need. Yes, budgeting is still effective for this and we need to learn how to manage our money.

[Coyster]

Needs and wants/problems to solve with money never stop arising, how do you handle your withdrawal? Be sincere, considering that local currency is becoming less of value as the cost of things are constantly rising now, so much that the cost price today is not the cost price tomorrow. Is a budget still effective in your opinion?

The thing is that people who hold Bitcoin must accept the fact that they must have to convert their crypto to fiat every now and then to take care of their basic needs, except if such person prolly has a job in real life that pays in Fiat, and alongside that, also renders one service or the other that pays him in Btc, then he could live on the salary he earns through fiat, and keep accumulating Bitcoin without having to sell too much of it on a regular basis.

Having said that, for people who earn only in Bitcoin, then there is actually no way to avoid selling your stash no matter how hard you try, cause Bitcoin is not yet mainstream, so you'll have to convert somewhat frequently to pay bills and buy basic things. But then, what's most important in both situations is to be shrewd in your spending, and maybe if you're not earning so much, it's much better to cut down on it outrightly, what brings so many people down financially is spending far more than they earn, you'll run cashless and into debt sooner rather than later.

[Kittygalore]

Yes, I think that budgeting is still effective. What you need to do is you have to learn self-control, that's the reason why your urge to withdraw stuff is constant, the lack of discipline or self-control is going to take a toll on you in the near future, it's just that we don't know when, so we better change right now rather than regret it later.

[haidil]

Yes, I think that budgeting is still effective. What you need to do is you have to learn self-control, that's the reason why your urge to withdraw stuff is constant, the lack of discipline or self-control is going to take a toll on you in the near future, it's just that we don't know when, so we better change right now rather than regret it later.

Effective? Maybe some still consider the budgeting if it really has other guarantees to meet the needs. But who can control when critical conditions plus a pandemic? besides we take advantage of existing sources of income. Coin holding in the long term is necessary and must be disciplined in controlling it. But again that we tend to end it to make up for what we need.

[Silberman]

Withdrawal can become a habit. Once you develop the habit of withdrawing either fiat or converting your crypto holding to local currency for use, It almost becomes so difficult to break.

Needs and wants/problems to solve with money never stop arising, how do you handle your withdrawal? Be sincere, considering that local currency is becoming less of value as the cost of things are constantly rising now, so much that the cost price today is not the cost price tomorrow. Is a budget still effective in your opinion?

One of the big problems of people of today is that many cannot differentiate between a need and a want, when a new smartphone comes out they want to buy it thinking of it as a need as they need to keep themselves communicated, but why get rid of the phone you have in your pocket which can do 95% of the things the new phone can do and you do not have to spend any more money in it? So that is the first step to begin to reduce your expenses so you can begin to budget your income in a more efficient way so you can keep most of your coins and you can benefit from the bull market that is coming.

[fiulpro]

Withdrawal can become a habit. Once you develop the habit of withdrawing either fiat or converting your crypto holding to local currency for use, It almost becomes so difficult to break.

Needs and wants/problems to solve with money never stop arising, how do you handle your withdrawal? Be sincere, considering that local currency is becoming less of value as the cost of things are constantly rising now, so much that the cost price today is not the cost price tomorrow. Is a budget still effective in your opinion?

Well personally for me putting budget out for things never works, at the end of the day there are always unimaginable circumstances, especially in the wake of COVID that requires a lot of extra money every once in a while and the government is not even being kind to the people, the fares everywhere are rising and at the same time, people always use things like Credit cards, which doesn't go down so good. As far as I have seen all my friends are paying off their credit card loans. Plus in a student's life it's very important to always keep extra money with you, when you have investments like cryptocurrencies it's both risky/boon, therefore everyone has to tread lightly. It's a hard task, I don't think we can follow any rules here.

[el kaka22]

All this makes sense and I personally try to be as self-sufficient as possible by having my own property, growing organic food, having access to clean water, and I plan to at least install solar panels to at least somewhat reduce electricity consumption. But a good part of the population lives in cities and in residential buildings where they have almost no ability to do any of the above - they are completely dependent on the system.

In addition to growing your food, you need to have the knowledge of how to do it in addition to the land, be ready to get your hands dirty, and also be lucky with the weather influences that have changed for the worse lately. Frequent summer hail storms combined with extremely high temperatures have significantly reduced agricultural yields around the world, and from personal experience, I can say that I have never experienced more heatwaves than this year. This only increased the cost of production in my organic garden even more, because I had to protect the plants from the sun with protective covers.

Still, the effort paid off, not only did I enjoy healthy fruits and vegetables (which I still have), but I filled the pantry with what will help me survive the winter, and of course I rely on BTC to help if needed

You do not have to reach to that level, you do not have to be self-sufficient in that sense. How about having enough passive income that you get to buy all those things without having to worry about money, that is still as good, believe me you will be even happier as well. Think about living in a world where you have enough money to pay for a penthouse in the talents building of your city, and you still do not worry about money in anything, have cooks and cleaners and all that.

Now that sounds like a very very wealthy situation right? You do not have to reach those levels to be self-sufficient in a city, just own your own apartment flat, just a small 2 bedroom place, then have enough passive income to pay for your bills and food needs, then you can even work for extra stuff, as long as you can pay your bills and food, you do not need anything extra, it would be great to go to movies once in a while, see a gallery, have a dinner outside and so forth but you can work for them and it would not take too much time.

[leea-1334]

I still work on a budget, and try to restrict myself from withdrawing and spending for unnecessary things in my life. It’s hard at first, but it’s worth trying especially if you’re just living alone like me. Though things will change once you have a family that you’re raising. Budgeting will then, be hard and there will surely be times when you need to swipe and withdraw some cash. You can’t really say no to that, as that’s the needs of your family. Hence why the family dynamics nowadays is different compared to the last few decades, as both parents need to work in order to serve some food on the plate.

I might also add that budgeting on its own is a very useful life skill,,, something they should teach you in school or at home. Most times I look back at my fellow housemates and workmates after uni and going to work living independently for the first time. Most did not know budgeting and just randomly figured stuff out and so ended up in debt every month before salary. Salary comes in and immediately huge chunk cut off for credit card.

This is not just good for Bitcoin holding,,, good for getting by in life financially.