Advice Needed: Money Management

Hey everyone,

I am looking out for advice with managing money right.

I seem to be in some terrible situation with managing money.

A year ago:

I spend it all I earn.

200$ a day, gone in an hour.

That's like every fuckin day

That was easy money with sports betting.

Now:

Focusing on real business, doing well, no profits yet.

But I still do the sports betting.

"And my brain just doesn't work until I spend that money."

How do I overcome this and manage my money right?

Can't leave sports betting though. I like the sport and it's fun watching.

Anyone been through this phase?

The quoted part is really serious.

I spend it mostly on hookers and partying. Fucked over 100+ girls and I am 23 now.

PS: Easy money is tough to handle, I learnt it the hard way. But I handled it right, never did hard drugs, just the hookers, because I like to fuck hot girls.

Advice is highly appreciated. I can't share this anywhere else.

Thanks,
Evan

Make a spreadsheet listing ALL your income and ALL your expenses.

If you have expenses that change each week (like fuel for example) then check the spend for the past 3 months and then take an average and use that as your monthly fuel expense figure.

Account for yearly expenses like tax by dividing it in 12 monthly amounts- then that’s a monthly saving to make in advance.

For luxuries or spending money for nights out, again work out an average spend based on a few months of data, then budget for that money each week / month for going out / having fun.

Have an overflow as well, for unforeseen expenses.

Then have a saving amount as well.

If that all adds up to more than you earn then split everything in two - necessities and luxuries, then shave off the luxury spends until the books balance out.

Once you have everything set up, stick to it religiously.

If you earn additional income then add that to an extra income allotment and that becomes additional savings.

In addition to all that, you need some goals as well - reasons to save, for example. They will motivate you to stick to the plan.

davids355 said:

Make a spreadsheet listing ALL your income and ALL your expenses.

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Can you help me with a book to guide me better with this? Maybe your best read?

ninja21 said:

Can you help me with a book to guide me better with this? Maybe your best read?

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Don’t really know about any books on this topic unfortunately. It’s just something I’ve worked on a lot myself.

ninja21 said:

I spend it mostly on hookers and partying.

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ninja21 said:

just the hookers, because I like to fuck hot girls.

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I'm a fan of your approach. Stop gambling because it's a waste of fucking money. Don't stop spending money on women. Your problem isn't your spending, if anybody tells you that, they are wrong. You just need to make more money. Also, why are you writing your posts like a poem?

Huge problem man. very dangerous too.
Thats why a lot of people give up on money, when you work so hard and spend it and just repeat the cycle, whats the point of making money? you're not making progress you're just working your life way... if its as severe as it sounds id consult a professional, seriously.

zionbar said:

Thats why a lot of people give up on money

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I'm very curious what people do when they quit money? Check themselves into a mental institution. How do you exactly "Give up on money"?

Asking for a friend.

deadoralive636 said:

I'm a fan of your approach. Stop gambling because it's a waste of fucking money. Don't stop spending money on women. Your problem isn't your spending, if anybody tells you that, they are wrong. You just need to make more money. Also, why are you writing your posts like a poem?

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I am good at gambling, I have mastered it. I take it from a forex trading point of view and apply all the principles there.

I just wrote what I wanted to convey, if it sounded like a poem, that's cool. Thanks!

ninja21 said:

Can you help me with a book to guide me better with this? Maybe your best read?

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Go to Youtube and type in Money Management. You will find several videos on the topic.
Cheers!

ninja21 said:

I am good at gambling, I have mastered it. I take it from a forex trading point of view and apply all the principles there.

I just wrote what I wanted to convey, if it sounded like a poem, that's cool. Thanks!

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Nothing wrong with writing poems. Don't go broke though, make more money and don't change your spending habit. If you blow 200 bucks a day on women, make 400 a day and keep spending 200 bucks a day. Also, if you are betting and actually turning a profit you can always increase your bet size that way you make more and can keep spending the same. Don't lose track of bank roll management though. Just to recap:

1. Bet more = Make more
2. Spend the same
3. ????
4. Profit

zionbar said:

Huge problem man. very dangerous too.
Thats why a lot of people give up on money, when you work so hard and spend it and just repeat the cycle, whats the point of making money? you're not making progress you're just working your life way... if its as severe as it sounds id consult a professional, seriously.

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Yes I know, so this post to get the advice I need.

Spending it satisfies me. And when I am zero, that's the motivating factor.

Now I should be only making more money and keep track of everything.

ninja21 said:

Fucked over 100+ girls and I am 23 now.

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Also I had to point this out.

deadoralive636 said:

1. Bet more = Make more
2. Spend the same
3. ????
4. Profit

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This will work for me. Such simple things, I just try to over complicate things.

Keeping track of everything is all I need to do.

Thanks for all the replies!

probably "what i learned losing a million dollars" is a must read for you, it has some very valid points you should read
i was in same situation as you and now im finally to caught up on myself, no more useless expenses and lot of work
it requires patience for sure but it wont come in a day or 2, try to stay out of places that take you time, spend less time with friends till you see the will to work and not do a single pointless spending
good luck

deadoralive636 said:

I'm very curious what people do when they quit money? Check themselves into a mental institution. How do you exactly "Give up on money"?

Asking for a friend.

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They get a 9-5 [ok...] , a shit ton of credit card debt [fucking terrible] , and 'dont worry about money any more' [worst] until it blows up in their face. like a huge % of the population in the US right now.

ninja21 said:

Hey everyone,

I am looking out for advice with managing money right.

I seem to be in some terrible situation with managing money.

A year ago:

I spend it all I earn.

200$ a day, gone in an hour.

That's like every fuckin day

That was easy money with sports betting.

Now:

Focusing on real business, doing well, no profits yet.

But I still do the sports betting.

"And my brain just doesn't work until I spend that money."

How do I overcome this and manage my money right?

Can't leave sports betting though. I like the sport and it's fun watching.

Anyone been through this phase?

The quoted part is really serious.

I spend it mostly on hookers and partying. Fucked over 100+ girls and I am 23 now.

PS: Easy money is tough to handle, I learnt it the hard way. But I handled it right, never did hard drugs, just the hookers, because I like to fuck hot girls.

Advice is highly appreciated. I can't share this anywhere else.

Thanks,
Evan

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This may or may not help, it's free and could help you keep track and see at a glance your expenditure. for both personal and business
https://www.gnucash.org/

zionbar said:

They get a 9-5 [ok...]

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You had me at hello and lost me with 9-5. I think making more money makes more sense if you can handle not spending more. Shit is tough.

deadoralive636 said:

You had me at hello and lost me with 9-5. I think making more money makes more sense if you can handle not spending more. Shit is tough.

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I described what most people do. I myself havent had a 'day job' since around 2012. im 100% online... for some people 9-5 is a better way to go though.

The above post on budgeting is a good start.

You have two problems.

One problem you are fighting is ADDICTION.

When you spend money, any amount, you get a type of "opium hit" in your brain. You want to keep doing it. Like the old ladies that keep buying garbage on the Home Shopping Network. They never even unpack the stuff. They just keep buying. They are addicted.

You need to force / scam yourself into taking a certain percentage of that money out of the loop and saving it. Bank accounts are too easy to raid. Try a brokerage or two or three. Start with Fidelity and force yourself to put money into it. You might also try an Gold Brokerage with one of the private storage companies in Switzerland or Singapore.

Even brokerages can be raided. So buy stock in your local power company, but buy it directly from the company. No brokerage fees and it is a pain in the ass to sell it off. Make it hard on yourself to spend money.

Problem two is the women. They are called hookers for a reason (not because of that guy Hooker). It is because they hook you (Addiction) two ways.

1) That opium hit thing again (as well as the "excitement" of the encounter)

2) That female creates a meta-physical (energetic) link between herself and yourself (some think it ties into the solar plexus) and she can effect you and "pull you back" to her at will. There is an entire evil science called "Black Tantra" that deals with this. Avoid the hookers as they can destroy you.

The meta-physical link thing is a big problem in business. The movie and TV industry extracts alot of revenue from the rubes by using it. I understand they also use it on physical products.

The world much more scary than what most people realize.

Keep your doors locked ....

ninja21 said:

because I like to fuck hot girls.

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You like to fuck hot girls huh. That's pretty odd to be honest.
The rest of us don't usually like to fuck these hot girls, any idea what's wrong with us?