Share your Money management strategy

[kesmex]

What I've learned when it comes to financial management is to avoid borrowing or loaning. As much as possible always allocate enough funds for savings for emergency purposes and investments. It's also important to have the right lifestyle where buying your needs over your wants is a priority. It isn't easy but if you know how to control your unnecessary expenses, you'll be able to handle your funds right.

Sometimes we use money to get more money. I don't see borrowing money as what can  hinder someone financially, except the money been borrowed is not used for the proper investment or the amount of money that is been borrowed is more than the income or profits of the person who asked for the loan. Money been borrowed can affect someone financially if the person have no good plan to do with money and if the person borrowed money which he can't afford to pay back.

I agree with you that actually it all depends on our plan and it doesn't matter if we borrow money as long as it's for a business or investment that makes a profit then it's the right decision,
what is clear is that borrowing money is not always a bad thing and sometimes in some cases borrowing money can also be a solution to get out of the problem and that needs to be managed too

[ninis45]

A person's standard of living changes according to their income and occupation
the higher the income the higher the lifestyle, the bigger the job the bigger the capital needed this is a natural thing, we just need to manage everything so that it is simple and sufficient if our business work needs to borrow then we know our ability to repay

[bitgov]

A person's standard of living changes according to their income and occupation
the higher the income the higher the lifestyle, the bigger the job the bigger the capital needed this is a natural thing, we just need to manage everything so that it is simple and sufficient if our business work needs to borrow then we know our ability to repay

I am very bad in money management. I am an extremist, when I have money I spend like crazy and when I dont have I become miser.
I dont like this habit of mine and I am trying to live within my means - I hope I will learn in few months. May be a hard way though - haha 

[molsewid]

A person's standard of living changes according to their income and occupation
the higher the income the higher the lifestyle, the bigger the job the bigger the capital needed this is a natural thing, we just need to manage everything so that it is simple and sufficient if our business work needs to borrow then we know our ability to repay

I agree with this, in my own experience my lifestyle change when I have the higher income now, which I regret so much in the previous year but then I am learning to manage my income now and I can tell that I  made some improvements, I have a weekly planner in which I am following for my expenses, I need to do this because I don't want the past to happen again in my recent time.

[palle11]

I am very bad in money management. I am an extremist, when I have money I spend like crazy and when I dont have I become miser.
I dont like this habit of mine and I am trying to live within my means - I hope I will learn in few months. May be a hard way though - haha 

Having a life style of showing up and living big when is above your means of livelihood is not really the best, it is going to drain you beyond your expectations and leave you miserable. Now that you have identified the issue of not being able to keep saving you have to work yourself hard to start investing. The more you invest the more for you to be able to save money. You need to read some books on financial management and how to get help on your saving habit.

[Mahanton]

A person's standard of living changes according to their income and occupation
the higher the income the higher the lifestyle, the bigger the job the bigger the capital needed this is a natural thing, we just need to manage everything so that it is simple and sufficient if our business work needs to borrow then we know our ability to repay

I agree with this, in my own experience my lifestyle change when I have the higher income now, which I regret so much in the previous year but then I am learning to manage my income now and I can tell that I  made some improvements, I have a weekly planner in which I am following for my expenses, I need to do this because I don't want the past to happen again in my recent time.

Cant really be avoided with some changes on which you do really get in lost track whenever you are getting much more bigger income on where your expenses does also increase too and this is what most people do really able to experience thats why you should really be aware on your actions and have that proper money management or else you would really be looking something bigger problems in the future.
Having much bigger income doesnt mean that you are really safe in terms of financial because if you do spend more then it would really be still having that inequality or even too much
which would result into non sufficient.

[Naficopa]

A person's standard of living changes according to their income and occupation
the higher the income the higher the lifestyle, the bigger the job the bigger the capital needed this is a natural thing, we just need to manage everything so that it is simple and sufficient if our business work needs to borrow then we know our ability to repay

I agree with this, in my own experience my lifestyle change when I have the higher income now, which I regret so much in the previous year but then I am learning to manage my income now and I can tell that I  made some improvements, I have a weekly planner in which I am following for my expenses, I need to do this because I don't want the past to happen again in my recent time.

I came again and again to see some good strategies - and I have suffered so much because of not managing my finances properly.
During COVID I learnt that managing finances is very very important and so is side hustle. So I started working for myself and saving up. It is better than working for someone else.

[stadus]

A person's standard of living changes according to their income and occupation
the higher the income the higher the lifestyle, the bigger the job the bigger the capital needed this is a natural thing, we just need to manage everything so that it is simple and sufficient if our business work needs to borrow then we know our ability to repay

I agree with this, in my own experience my lifestyle change when I have the higher income now, which I regret so much in the previous year but then I am learning to manage my income now and I can tell that I  made some improvements, I have a weekly planner in which I am following for my expenses, I need to do this because I don't want the past to happen again in my recent time.

I came again and again to see some good strategies - and I have suffered so much because of not managing my finances properly.
During COVID I learnt that managing finances is very very important and so is side hustle. So I started working for myself and saving up. It is better than working for someone else.

Great mindset, working for yourself is like you are self-employed. Of course, working for yourself will make you enjoy the full benefits if you succeed, unlike when working for other people. Actually, we have a different status in life, some are employed, some are managing their business, but whichever side you are, it's very important that you learn how to live within your means and also learn how to invest so you will be able to grow your money.

[19Nov16]

The most important thing in Money Management is a commitment not to be tempted by anything, the first thing we do is write all income and expenses, if there is an opportunity for deficit then we must be able to stop spending that is not important, and the best thing is to increase income by finding a job Freelance and the internet provide the best opportunities.

[yawars20]

Well everyone has its own way to do things and some do it successful and other face problems. So don't follow my or any  other person adcvice blindly but to first figure out your own situation and then relate our experinance with it.
As for me I usually go with with trading in crypto + Real state investments as my ideology is to never save cash in banks but to always circulate it in profitable point so money inflation didn't effect much to my assets.
the trade can be stocks or crypto related too but you have to be careful as the market always show worse side once in while.
 

[bitgov]

The most important thing in Money Management is a commitment not to be tempted by anything, the first thing we do is write all income and expenses, if there is an opportunity for deficit then we must be able to stop spending that is not important, and the best thing is to increase income by finding a job Freelance and the internet provide the best opportunities.

I like the first statement you mentioned. Not to be tempted by anything and controlling  your finances is very important.
But sometime its hard. I have learnt it hard way and starting saving up a bit late in life.

[TelolettOm]

Sometimes we use money to get more money.

That's how an investment works.
And it always works like that, we use our money to get more money.
There is nothing wrong with this way as long as using a proper strategy and with good money management/plans.

I don't see borrowing money as what can  hinder someone financially, except the money been borrowed is not used for the proper investment or the amount of money that is been borrowed is more than the income or profits of the person who asked for the loan.

Borrowing money is always not recommended, especially if you use borrowed money for crypto investment or crypto trading. Although you think you can pay the loan, sometimes it doesn't go according to plan. Having a big income doesn't guarantee you won't have a problem with loan money. It is always better to use your excess money for crypto investment/trading.

[ninis45]

A person's standard of living changes according to their income and occupation
the higher the income the higher the lifestyle, the bigger the job the bigger the capital needed this is a natural thing, we just need to manage everything so that it is simple and sufficient if our business work needs to borrow then we know our ability to repay

I am very bad in money management. I am an extremist, when I have money I spend like crazy and when I dont have I become miser.
I dont like this habit of mine and I am trying to live within my means - I hope I will learn in few months. May be a hard way though - haha 

I think this is actually a natural thing for someone who actually has the character to want to find satisfaction in life by spending without thinking about what will happen after that because they think it's fun to live when what we want is fulfilled, but when they see the economy has weakened it will turn dragistic the person who manages/reset everything so that it is fulfilled, but I hope you can change so that you become mentally wise

[dikistutmazsabri]

I think if we are making an investment, managing our psychology is as important as money management and risk management. It doesn't matter if our investment amount is more or less, if we don't take strong and strong stances psychologically, it doesn't matter whether we are good at money management or not. I've seen a lot of people find it difficult to sleep despite the small amount of investment. I've seen a lot of people who have no regrets despite losing a lot of money.

[Digital_Lord]

No doubt money management is very important in every Field of life. But in Crypto if you do not do  proper money management there is high chances to lose your hard money. I have very simple money management strategy.I am deversify my portfolio in 2 parts. One is for Long term investment and second is short term Investment or day  trading. I am doing day trading and other hand do DCA on my long-term investment  in every dip.

[uneng]

My strategy is to invest in bitcoin, ignore most altcoins and earn passive income from my assets while waiting for long term returns once the market skyrockets. It takes a long time until seeing the funds growing in value and sometimes during the bearish season it's possible to think you want to give up, but after the winter, there is always the spring waiting for us, so I keep confident on my strategy.

By doing this, my goal is to avoid risks of trading frequently and risks of dealing with altcoins, what will inevitably lead to losses at some point. It's not the most profitable of the strategies, but it is relatively safe. I have to take some risk by investing in third party services for passive income, though.

[Cryptock]

My strategy is to invest in bitcoin, ignore most altcoins and earn passive income from my assets while waiting for long term returns once the market skyrockets. It takes a long time until seeing the funds growing in value and sometimes during the bearish season it's possible to think you want to give up, but after the winter, there is always the spring waiting for us, so I keep confident on my strategy.

By doing this, my goal is to avoid risks of trading frequently and risks of dealing with altcoins, what will inevitably lead to losses at some point. It's not the most profitable of the strategies, but it is relatively safe. I have to take some risk by investing in third party services for passive income, though.

You have good vision and planning for the future.
I feel I am way behind others when it comes for investment - I wish I have invested in bitcoins year ago - I would have been in a better position by now.

[sayaya17]

My strategy is to invest in bitcoin, ignore most altcoins and earn passive income from my assets while waiting for long term returns once the market skyrockets. It takes a long time until seeing the funds growing in value and sometimes during the bearish season it's possible to think you want to give up, but after the winter, there is always the spring waiting for us, so I keep confident on my strategy.

By doing this, my goal is to avoid risks of trading frequently and risks of dealing with altcoins, what will inevitably lead to losses at some point. It's not the most profitable of the strategies, but it is relatively safe. I have to take some risk by investing in third party services for passive income, though.

You have good vision and planning for the future.
I feel I am way behind others when it comes for investment - I wish I have invested in bitcoins year ago - I would have been in a better position by now.

You don't have to feel left behind by others, because it's not too late to invest in crypto today. Even the previous year the market experienced
a bullish trend, so if you want to buy crypto, it's best this year when the trend is bearish. Because right now all coins are experiencing a pretty
deep drop in price, especially top coins are highly recommended to be purchased in a market situation like now. I believe if you can allocate your
money in the right coins, then to be able to make a profit is only a matter of time. My strategy for now is to buy Bitcoin, Ethereum and BNB.
Because the three coins are indeed potential coins with a bright future, so I don't hesitate to use the money for investment by buying the three coins
that I have mentioned.

[Lanatsa]

My strategy is to invest in bitcoin, ignore most altcoins and earn passive income from my assets while waiting for long term returns once the market skyrockets. It takes a long time until seeing the funds growing in value and sometimes during the bearish season it's possible to think you want to give up, but after the winter, there is always the spring waiting for us, so I keep confident on my strategy.

By doing this, my goal is to avoid risks of trading frequently and risks of dealing with altcoins, what will inevitably lead to losses at some point. It's not the most profitable of the strategies, but it is relatively safe. I have to take some risk by investing in third party services for passive income, though.

You have good vision and planning for the future.
I feel I am way behind others when it comes for investment - I wish I have invested in bitcoins year ago - I would have been in a better position by now.

Majority of us does have those kind of hopes that if we could just turn back the time then we had invested on bitcoin or mine it when its still into its early days but we know that its impossible.Therefore
we do really be always be having that kind of regrets and annoyance on such situation.

For now the best thing to do is to move on and find another or make actions with your crypto investment.Avoid or lessen out risk as much as you could
and there are lots of strategies which you could make use of and most of them are just purely made out via common sense. 

[Spontaneous]

 Yeah In my own opinion having a good management can lead us into succes but before that thing we encounter many step of learning so that we must learn on how to manage  money an the best example is aiming to learn some new knowledge, reading, and studying. Simple ways but more people triggered and fail to manage their own money . Don't think twice and just be wise all the time using and managing your money.