The usefulness of budget as a bitcoiner

[George Edward]

Budgeting can help a bitcoin investor in several way but firstly what is budget ,
A budget is a financial plan that help a person outlines projected income and expenses over a specific period. It helps individuals or organizations manage their finances, prioritize spending, and achieve financial goals. But when it comes down to the usefulness of budgeting as a bitcoiner
It can help to manage risk when investing ,so that a bitcoiner doesn't overextend himself. Budgeting also keeps  a bitcoiner disciplined about his or her finances, making sure a bitcoiner prioritize his  needs over his wants.
Plus, having a budget in place can help a bitcoiner  figure out how much he can afford to invest in Bitcoin, and when it's time  for him to diversify his  portfolio.
 By tracking  his expenses, a bitcoiner will definitely get a  better sense of his financial situation which makes it easier for an investor to make smart  investment decisions.

[Ruttoshi]

Of course, having a budget is a good cash inflow management, because when you don't plan on how to used the expected funds and channel it into the appropriate place, you will mismanage your funds. This is why it's good to know your monthly needs so that you when monthly income is available, you can take it out and any leftove can be used to invest in bitcoin. Some people use their extra cash to gamble, drink, clubbing.

If you lack how to set budget for your monthly income, you will use the money for your important needs to invest in bitcoin. When your needs arises, you will end up selling the bitcoin that you bought in loss, if bitcoin price is below your entry point. This is the mistake that some new investors make because they don't make budgets.

[Rustam Meraj]

When anyone use budget for Bitcoin investing it helps in some very clear ways like
Managing Risk like you said budget helps you to not spend too much. When anyone know how much money he/s earn and what things he/s need to pay for he/s can decide how much money he/s can safely put into Bitcoin.
Staying Responsible with Money It makes Bitcoin investors think about what they need. This helps them to pay for important things before thinking about investing more.
Knowing How Much and When to Invest Good budget helps anyone to see when he/s may have more money to invest or when it may be good idea to invest less.
Investing in Different Things With looking at financial situation budget can tell when it may be good to put money in other things like altcoins except Bitcoin.
Making Smart Choices At end biggest help of having budget for Bitcoin investor is that it makes things clear. When he/s understand money overall which he/s have so he/s make better decisions about investments other than only guessing.
Basically having budget gives anyone knowledge and control over money that he/s need to deal with mostly changing world of Bitcoin investing with more confidence and less risk.

[Accardo]

Budgeting in Bitcoin creates an avenue of purchasing Bitcoin without minding what price it is; bullish or bearish. Take DCA for instance, the investor sets out a specific amount to buy BTC Every month. Overtime it'll accumulate until Bitcoin catches on for the person to profit and gain more finance. The only downside for lower investment like $10-20 is fees, it costs more atimes due to network congestion and purchasing a small fraction can be more expensive.

Yet it's quite a nice thing to own little btc, just like Satoshi would say;

“it might make sense just to get some in case it catches on.”

[freedomgo]

Whether it’s business or crypto, budgeting is always a must. It helps you know how much you can afford to lose,  and keeps your emotions in check.

If you’re into short-term trading, you need to manage that budget wisely so you can last the long run. But if your plan is just to buy and hold, then honestly, there’s no better strategy than DCA. Simple and stress-free.

By tracking  his expenses, a bitcoiner will definitely get a  better sense of his financial situation which makes it easier for an investor to make smart  investment decisions.

That’s really how you know if you can afford to invest after removing all your expenses, check if there’s anything left. If nothing's left, then maybe now’s not the right time. Not everyone has the extra funds, and that’s okay. Prioritize needs first before putting money into investments.

[DeathAngel]

Budgeting is important for all people, not just Bitcoin investors. Everybody needs to ensure that they can budget efficiently otherwise it could be easy to run into all kinds of problems. Too many people are negligent when it comes to their personal finances & affordability of running a specific lifestyle. It is not hard to work out how much you can spend on essentials & then obviously a desired budget to invest in order to hopefully increase wealth.  

[slapper]

You’re right, and not enough people talk about this. One of the only forms of leverage we really have is budgeting. You want to survive a 70% drawdown emotionally intact? Budget. You want to stop selling bottoms and buying tops? Budget

Budgeting gives Bitcoin the time it needs to fulfill its mathematical promise instead of making you dependent on it to "save you" next month. Big difference. The bitcoiner who knows exactly how much fiat he needs to survive and how much volatility he can psychologically stomach, that’s the guy who’s unbreakable

What’s harder, predicting Bitcoin’s price in 12 months or predicting your own patience over that same period? Everyone’s playing the wrong game. The market tests your self-regulation not your predictions. Budgeting a survival strategy for a species that struggles with dopamine and FOMO

Every sat stacked under a coherent budget plan is a silent act of defiance against a system that wants you paycheck-to-paycheck, consumption-to-consumption, distraction-to-distraction. Budgeting isn’t boring; budgeting is rebellion, plain and simple

[Yucky]

Another this is having a budget helps you  not to stretch your limits, If you budget, let's say, $100 for something because you have a budget for that thing, even if you want to extend it, it won't go more than $120 or $150. You have a sense of constraint around the amount you're using.

When you don't budget you'll find yourself spending any amount on anything , sometimes overspending, sometimes underspending, and making financial mistakes. So, yes, budgeting is really good; it helps me have an amount constraint around an investment or something.

[batang_bitcoin]

Budgeting helps individual in all aspects of life. Not only being a bitcoiner but being someone who's looking forward to save money and also live a better life. And someone who's a normal worker and don't know how much to spend money in investing in Bitcoin, budgeting is the key to it. Savings what's left is what the common people do but prioritizing what to invest after the bills is the kind of thing to do for the people who's desperate who wants to buy Bitcoin. That's how useful budgeting is and as soon as someone invests into Bitcoin, it opens an entire new world of finances.

[Arenga pinnata]

In this case I also have a budget dedicated to accumulating bitcoins. Even if it's just a mini budget. Because I still spend more of my money on my primary and secondary needs in life. And then I put the rest into my savings and investment budget. And I have arranged everything quite neatly with the simple financial management that I use. That way I can monitor and see my financial development as a whole. Including my investments in bitcoin and other cryptocurrencies.

When bitcoin had not yet broken through last season's ATH. I almost budget my money on bitcoin with more positions than on my primary and secondary needs. but after bitcoin made ATH then I started reducing the budget. because I think it's not good for me to have too much FOMO. Especially when I invest for the long term. I still have to fulfill my primary and secondary needs very well. Because that way I can appreciate my own life more.

[hyudien]

For investors doing this has become a common basis so that they can monitor and control spending systematically and even budgeting must be applied in every aspect and other activities that involve finance. Simply put, you have a monthly salary and you divide it all into several parts so that your finances are not focused on one aspect only so that it becomes more effective.

[Queentoshi]

A budget is a financial plan that help a person outlines projected income and expenses over a specific period.

A budget that spans a long period of time is now difficult to maintain by some investors, the ever-unstable prices of goods and the economy has been a leading reason of this. Now it is practically easier to maintain and achieve a budget that is for a shorter period than a budget that is for a longwer time.

Budgeting also keeps  a bitcoiner disciplined about his or her finances, making sure a bitcoiner prioritize his  needs over his wants.

A budget will not make an indisciplined person to suddenly be disciplined, a budget rather requires a disciplined person to be effective.

[Wexnident]

~

It should be something useful to EVERYONE, not just bitcoiners. If you aren't budgeting your monthly incomes then SOMETHING is definitely wrong with the way you're spending money. Transparency and tallying data 100% helps in actually planning out your future years, regardless of how small your income may be. It just gives that sense of "Oooh, so that's how it goes" realization when you start seeing stuff after like, 4, 5 months of tallying data. Also helps you keep organized and planned!

And that's on top of the stuff OP said with relation to Bitcoin and investments.

[Free Market Capitalist]

~

It should be something useful to EVERYONE, not just bitcoiners. If you aren't budgeting your monthly incomes then SOMETHING is definitely wrong with the way you're spending money.

That's good as a general rule but I don't budget any more after more than a decade doing it. I already have a lot of experience in this, I have the big expenses under control and in general at the end of the month I am cash flow positive, I have money left over even though I invest at the beginning of the month. So there has come a time when I have decided to relax a little in that sense. I don't rule out doing it again in the future if necessary, but I don't think so.

For anyone who is just starting to invest, or who is in debt, or who has little net worth, I think it is essential.

[Ishicryptic]

Anybody that earns income or profits needs to have a budget for their expenses, without a budget it is easy to spend money on things that are not important and relevant. Making a budget for Bitcoin as an investment is a wise decision but before you can put funds aside for DCA method of buying Bitcoin you need to make sure that you have made provisions for you fixed expenses. If you don't priotize a budget for fixed expenses and a little for unforseen expenses you might end up selling your Bitcoin to take care of unforseen bills. This is the main reason why budget is very important so that you can make plans ahead before spending your money, what is not in your budget should be brought forward to another income, unless it's an emergency.

[crwth]

We all should know that it’s not just for bitcoins but for everyone, and managing your money or something that is practiced should be budgeted and controlled. You need to know budgeting possibilities, whether investing in other coins or saving.

The things mentioned here are not just for Bitcoiners. You need to be disciplined for this one to be effective.

[Alpha Marine]

This is why I always advise people to know how much they spend a day, a week and a month. This is the only way you can have proper financial planning that will help you. Most people just use the money as it comes without knowing how they're spending it, that's why most time money they made just finishes and they can't say what they used it for.

It's wise to know how much you spend on everything every week/month. How much on telephone bills, music and movie streaming, internet, cable subscription, food, transportation, medical bills, savings/investments, and any other things you spend money on, try to include everything. It is only when you know how much you spend a week/month that you can see if you're spending too much or just right, and it is with this that you can use to make a budget.

[Felicity_Tide]

We all should know that it’s not just for bitcoins but for everyone, and managing your money or something that is practiced should be budgeted and controlled. You need to know budgeting possibilities, whether investing in other coins or saving.

The things mentioned here are not just for Bitcoiners. You need to be disciplined for this one to be effective.

That's exactly what I wanted to point out.
We even spend money more often on other things, than investment.
We as individuals just needs to possess this level of consciousness that automatically helps us identify the differences between our needs and wants, and not just that, but also question every financial decision making or thoughts that arises. Budgeting is fine though, but there are certain things we shouldn't exceed a limit for, even without contemplating too long.

Financial discipline, especially budgeting and questioning your own financial decisions, will certainly protect ones wealth, and also help them invest efficiently (not sure if that's the word now).

[serjent05]

At the end of the day, it all goes down to financial management.  Whether we can have extra money to budget for Bitcoin investment or we cannot have all depends on our capability on financial management.  I believe one must learn financial management first before diving into any investment or businesses.  This way, we can learn the discipline about money flows.

Finanial manage is the key for smooth operation both in businesses and investment.  Even if one has budget, if he don't know how to manage his finances, this budget will just vaporize, worst even the one we already invested like Bitcoin will be sold at a loss due to the situation forcing us to do so.  This is because of our lack of knowledge about proper financial management.

[Solosanz]

That's good as a general rule but I don't budget any more after more than a decade doing it. I already have a lot of experience in this, I have the big expenses under control and in general at the end of the month I am cash flow positive, I have money left over even though I invest at the beginning of the month. So there has come a time when I have decided to relax a little in that sense. I don't rule out doing it again in the future if necessary, but I don't think so.

For anyone who is just starting to invest, or who is in debt, or who has little net worth, I think it is essential.

Because most of the financial advice are created for middle class to poor.

Like 50/30/20 rule, if someone earn $60K per year in US, it's make sense to use that rule, but if they earn $1.2 M per year, it's not make sense for someone to force themselves use $60K for their monthly needs.

When someone is too rich, there are no rules, even they can buy the rules.