Traveler21 on Nostr: Micro-Budget Tips (building a small #budget & budget habits) This may be for you or a ...
Micro-Budget Tips (building a small #budget & budget habits)
This may be for you or a means for teaching a child good habits.
1. Given: a weekly allowance (eg from lawn mowing, or it’s cash you withdraw from the bank for wkly spending).
2. Say that “allowance” is $100/wk.
3. REGARDLESS what remains the next week ($5 or $75), set it aside (eg in a separate acct).
4. Pull out the next wk’s $100 allowance; repeat the process.
5. At the end of the month/term, you should have more set aside than if you just carried the cash over & didn’t have a regular plan.
6. This is similar to btc DCA, but works with fiat - for those who still deal with that. It also builds a saving & planning routine. 🤔 (Which can be used for extra btc buying. 😉)
7. The Set-Aside total can be used for emergencies or to supplement fun plans (travel, gifts) — without strain on the present budget, since you already withdrew it (months before).
Most bitcoiners are savvy to a budget, so again - this may be supplemental, or something you can share with a child or a normie (as many people do not rely on budgets - to their detriment).
This may be for you or a means for teaching a child good habits.
1. Given: a weekly allowance (eg from lawn mowing, or it’s cash you withdraw from the bank for wkly spending).
2. Say that “allowance” is $100/wk.
3. REGARDLESS what remains the next week ($5 or $75), set it aside (eg in a separate acct).
4. Pull out the next wk’s $100 allowance; repeat the process.
5. At the end of the month/term, you should have more set aside than if you just carried the cash over & didn’t have a regular plan.
6. This is similar to btc DCA, but works with fiat - for those who still deal with that. It also builds a saving & planning routine. 🤔 (Which can be used for extra btc buying. 😉)
7. The Set-Aside total can be used for emergencies or to supplement fun plans (travel, gifts) — without strain on the present budget, since you already withdrew it (months before).
Most bitcoiners are savvy to a budget, so again - this may be supplemental, or something you can share with a child or a normie (as many people do not rely on budgets - to their detriment).