Thread

Id love to know too nostr:nevent1qqs8mdlj4aknzfemer3fhp308yxqf72t80wwae33qjh9wf9gkjna9vgpp4mhxue69uhkummn9ekx7mqzypw9prp57kyxdmrngx40zrxp4afwjgeth8u9njqs8jj7eu42jwlhsqcyqqqqqqgu2sx8j

was it a book, intentional budgeting, state of mind or something else?

Cash withdrawed hard budget

any reason on cash only?

Start with Richest Man in Babylon that should be your first read it’s timeless, practical, interesting and not a long read.

I just started stacking them higher when the line got too long. Wasn’t rocket science but it works

ah yes, the og shitcoins

4 steps. 1. Spend less than you earn. 2. Pay yourself first. (Save) 3. Pay essentials(food, housing, transport) 4. Pay down debts with remainder.

gotcha, good stuff

Privacy while spending. Proven to limit spending beyond the rewards of CC psychologically

Take radical steps to cut costs. Make a game of saving or paying down debt. Never think work is beneath you.

Can get nuanced in step 4 by paying down debts with high interest before paying down debts with low interest. Typically best to make minimum payments on lower interest lines of credit (student loans?) while paying down high interest lines(credit cards?) and then as debts are eliminated doubling down on the still existing debts until you’re on top of things. Once you’re on top of things, as long as you keep to 1, it can make sense to contribute more to 2, instead of paying down debts as savings can sometimes out pace interest(bitcoin for example)

have no debt

The debtor is slave to the lender

how come

Its a verse from proverbs

“The rich rules over the poor, and the borrower is the slave of the lender.” — Proverbs 22:7

do you want to risk your money or someone else's money

i'm without debt, but my income and outcomes are really tight, so it's a liquidity issue right now + shortish on time too

Budget max, develop your credit

we don't have a fico score here, works different here

start a business, it will also teach you how to be more valuable as an employee

that is true, good point

Pay yourself first means treat your savings as your top priority expense above ALL other expenses. Save minimum 10% every paycheque and live off the other 90%. This cannot be overstated, most people treat there savings as there last priority and wonder why they never have anything left at the end of the month. The above is the answer.

Making money is a muscle

Its all my money. The real question is do i wanna risk my money or pay to risk my future money. Plebs dont play by the same rules as the controllers

at the end of every month in a spreadsheet : - manually log every transaction - manually record the balance of every account after a few months you’ll know where to improve.

you have a template to send by chance?

i don’t, but i used this method for years. i kept it very simple: - a tab called template with a simple table for your accounts, just name and balance. another table to track what you’re spending, effectively your monthly bank statements - every month duplicate the template tab and rename it for the month, eg dec-2025. login to your accounts and record the balances. the manual process is part of the secret. you’re very aware of what you’re spending and where you’re at.

I remember reading the richest man in Babylon and that was great. I learned about btc 5 years ago and thats been the difference.

sounds perfect, will get on it right away

Kinda always been interested in having a sense of independence and control of my money. Came from my single mom who had to really track her budget and get creative with both income and saving on expenses. Always good to start with getting a handle on your overall situation- most important is cash flow and a good sense of your budget. Don’t forget random things like birthday presents, annual fees for shit, lift tickets, etc. Net worth is next. Have an emergency fund. Spend less than you earn, continue to ratchet up saving/stacking as your earnings go up. And have something specific to save for so when you have to make a hard decision, impulse won’t always win :) The other stuff like insurance coverages, rent v own, etc. are important, but lots of resources on them and suggest focus on the basics ( positive cash flow, emergency fund, no high-interest debt). hope that helps and good luck.

Step one and two before three. If three prevents two, you aren’t obeying one.

i think the key is to have a good picture of what you earn and spend on, i do this with a basic excel tracking income & fixed costs (utilities, bills, etc.) + a monthly budget for the groceries and misc expenses. build a cash cushion of 3 to 6 months of living expenses depending on job stability. after that you are in a great position to start saving for the long term, which you should do as soon as you get a paycheck (pay yourself first). your saving & investments can now compound and you won't need to liquidate anything if something unexpected happens. hope that helps.

good luck

#asknostr

Avoid taking on debt that you can't immediately repay.