Withdrawal habit mostly happens only to people who dont have enough money, just like me before, whenever I earned money from this signature campaign and another source of my cryptocurrency I always withdraw it and convert it into fiat currency because I needed the money. So this withdrawal habit may depend on the status of the person but if you want to change it then it would be better if you do self-discipline and proper budgeting. Know your priority and list the things you need over your want.
Sometimes people do not really have any option but to sell their coins, after all we know that inflation is high and the price of everything is going up and sometimes regardless of how much you may like to save some money this is impossible as you are simply not earning enough to cover your needs and the needs of your family, however those that do this consistently are losing an opportunity as the price of bitcoin will most likely skyrocket soon, so the best path to avoid this to happen to you is to try to find another job in which the pay is better so whatever you earn in crypto becomes some sort of savings account for you. 
Topic: Is budgeting still effective in tackling the need to constantly withdraw money? - page 2. (Read 462 times)
October 13, 2021, 04:13:08 PM
October 11, 2021, 03:40:59 AM
Withdrawal habit mostly happens only to people who dont have enough money, just like me before, whenever I earned money from this signature campaign and another source of my cryptocurrency I always withdraw it and convert it into fiat currency because I needed the money. So this withdrawal habit may depend on the status of the person but if you want to change it then it would be better if you do self-discipline and proper budgeting. Know your priority and list the things you need over your want.
As possible as you can you need to reserve some part of your earning to invest that is budgeting too. If you earn you invest by buying some altcoins and hodl. Don't always convert everything you earn back to fiat and spend, challenges and financial obligations will never seize to come as a human being but learning to safe and make strict budget planning will help more. Things get harder by the day and the government not taking responsibility for its citizens so we need to do the little we can to survive that is why we need budgeting and not to spend extravagant because we have hope for another to come, what about if it doesn't come we can fall back to what we have.
October 10, 2021, 02:03:19 PM
Withdrawal can become a habit. Once you develop the habit of withdrawing either fiat or converting your crypto holding to local currency for use, It almost becomes so difficult to break.
Needs and wants/problems to solve with money never stop arising, how do you handle your withdrawal? Be sincere, considering that local currency is becoming less of value as the cost of things are constantly rising now, so much that the cost price today is not the cost price tomorrow. Is a budget still effective in your opinion?
Needs and wants/problems to solve with money never stop arising, how do you handle your withdrawal? Be sincere, considering that local currency is becoming less of value as the cost of things are constantly rising now, so much that the cost price today is not the cost price tomorrow. Is a budget still effective in your opinion?
Well personally for me putting budget out for things never works, at the end of the day there are always unimaginable circumstances, especially in the wake of COVID that requires a lot of extra money every once in a while and the government is not even being kind to the people, the fares everywhere are rising and at the same time, people always use things like Credit cards, which doesn't go down so good. As far as I have seen all my friends are paying off their credit card loans. Plus in a student's life it's very important to always keep extra money with you, when you have investments like cryptocurrencies it's both risky/boon, therefore everyone has to tread lightly. It's a hard task, I don't think we can follow any rules here.
October 10, 2021, 09:47:07 AM
Tell me how you handle your money today and I will give you a prediction of what your financial future will be. Regardless of your job. You see my friend, the numbers don't matter if you cannot even handle those numbers well. No matter how much you have, if you do not know how to manage and allocate your funds and income, one way or another, you will die of either hunger or inability to provide proper healthcare since a person who does not allocate money well, cannot plan well and not having a well created plan will rid you of chances to have emergency funds or insurance funds. I can explain even further but I think you can get my point. I hope this helps you well.
October 10, 2021, 09:34:18 AM
Budgeting can only work for a steady salary income at least you know and can plan with how much coming and how much to spend.
Not really, even if you don't have a stable income when it comes to this kind of thing, you can still make some plans or budgeting although you're going to budget weekly if not daily since you have an unstable income. October 10, 2021, 09:25:29 AM
Budgeting can only work for a steady salary income at least you know and can plan with how much coming and how much to spend. Things are very high because all over the world the inflation is rising and this is not a good situation for business people as you don't meet the same price in the market tomorrow. The daily income earners too are the worst of budget planning, they can't rely on daily earnings to play because buyers are no longer extra vagant in spending which has effect on daily earners. But to be factual the economic term of budgeting is fast going away, now only around the government in their yearly budget statement. Things are changing for hard times are starting to show up in daily lives.
October 10, 2021, 07:12:03 AM
What I’m doing so far is that I only withdraw money or crypto if I need to buy essential stuff, pay bills, food and other contributions for the family. However, I haven’t withdrew in an ATM for a long time because I still have enough cash on hand since the time I’ve done a P2P transaction in selling my Ethereum (which I admitted that I’ve regret selling that as the price exploded a few days after).
I have a steady income but I practiced myself spending more on assets than unnecessary expenses. Of course sometimes I have to treat myself once in a while, but not frequently. Maybe once every 1 to 2 months to self discipline myself.
As for the crypto side, I haven’t withdrew much of my major holdings because it’s not necessary and I’m not on a rush (unless circumstances happen). However, if I am almost out of cash whether on hand or in my debit cards/bank accounts, I usually withdraw USDT from my bi-weekly salary.
I have a steady income but I practiced myself spending more on assets than unnecessary expenses. Of course sometimes I have to treat myself once in a while, but not frequently. Maybe once every 1 to 2 months to self discipline myself.
As for the crypto side, I haven’t withdrew much of my major holdings because it’s not necessary and I’m not on a rush (unless circumstances happen). However, if I am almost out of cash whether on hand or in my debit cards/bank accounts, I usually withdraw USDT from my bi-weekly salary.
October 09, 2021, 04:31:58 PM
Withdrawal can become a habit. Once you develop the habit of withdrawing either fiat or converting your crypto holding to local currency for use, It almost becomes so difficult to break.
Needs and wants/problems to solve with money never stop arising, how do you handle your withdrawal? Be sincere, considering that local currency is becoming less of value as the cost of things are constantly rising now, so much that the cost price today is not the cost price tomorrow. Is a budget still effective in your opinion?
Needs and wants/problems to solve with money never stop arising, how do you handle your withdrawal? Be sincere, considering that local currency is becoming less of value as the cost of things are constantly rising now, so much that the cost price today is not the cost price tomorrow. Is a budget still effective in your opinion?
I think having a good budget for the rest of the month is essential in order to prevent withdrawing your BTCs, but this all depends on your goal.
Some people see their BTCs either as a short or long-term investment primarily for the purpose of proceeds and/or extra income. As such, when its price reaches an ATH or when their investment reaches a price higher than that of their initial investment, they would withdraw the proceeds and enjoy the fruits of BTC's volatility.
Personally, I was once a person who withdrew all of my BTCs as soon as I got them. But right now, I never touched my BTCs as i will save them for long-term investment.
expenses but there are situations or scenarios which are unpredicted where you do really need to withdraw which is considerable and cant be avoided but its better to have savings which is solely for the purpose
of those kind of situations.Dont tend to touch up those capital that you are trying to make it grow or bigger but well its your money then you are the ones to decide.
October 09, 2021, 03:38:30 PM
Withdrawal can become a habit. Once you develop the habit of withdrawing either fiat or converting your crypto holding to local currency for use, It almost becomes so difficult to break.
Needs and wants/problems to solve with money never stop arising, how do you handle your withdrawal? Be sincere, considering that local currency is becoming less of value as the cost of things are constantly rising now, so much that the cost price today is not the cost price tomorrow. Is a budget still effective in your opinion?
Well it’s good to be making budgets so that we will be able to know what you’re spending on. But, sometimes there are some expenses that you never plan and they just come in out of nowhere.And just like you said, these days inflation has been much and there has been an increase in the price of most things you will find in the market.Needs and wants/problems to solve with money never stop arising, how do you handle your withdrawal? Be sincere, considering that local currency is becoming less of value as the cost of things are constantly rising now, so much that the cost price today is not the cost price tomorrow. Is a budget still effective in your opinion?
So, the best solution now will be to increase our means of income: if you only have one source of income, it’s best that you also look for another source that will serve as a passive income. So what I’m trying to say is that your income should match or surpass the level of expenses you are making in a month.
I needed to buy a new shoe? Extra spending this month, I got my wisdom tooth pulled out? Extra expense, I needed to buy few new shirts? Extra, I needed a PC? Boy oh boy, such a huge extra. So, there are tons of stuff in the world that causes us to lose money when not expecting. Making a budget could be tough when there are so many unexpected spending happening.
October 09, 2021, 12:19:18 PM
Withdrawal can become a habit. Once you develop the habit of withdrawing either fiat or converting your crypto holding to local currency for use, It almost becomes so difficult to break.
Needs and wants/problems to solve with money never stop arising, how do you handle your withdrawal? Be sincere, considering that local currency is becoming less of value as the cost of things are constantly rising now, so much that the cost price today is not the cost price tomorrow. Is a budget still effective in your opinion?
Needs and wants/problems to solve with money never stop arising, how do you handle your withdrawal? Be sincere, considering that local currency is becoming less of value as the cost of things are constantly rising now, so much that the cost price today is not the cost price tomorrow. Is a budget still effective in your opinion?
I think having a good budget for the rest of the month is essential in order to prevent withdrawing your BTCs, but this all depends on your goal.
Some people see their BTCs either as a short or long-term investment primarily for the purpose of proceeds and/or extra income. As such, when its price reaches an ATH or when their investment reaches a price higher than that of their initial investment, they would withdraw the proceeds and enjoy the fruits of BTC's volatility.
Personally, I was once a person who withdrew all of my BTCs as soon as I got them. But right now, I never touched my BTCs as i will save them for long-term investment.
October 09, 2021, 06:18:45 AM
Withdrawal can become a habit. Once you develop the habit of withdrawing either fiat or converting your crypto holding to local currency for use, It almost becomes so difficult to break.
Needs and wants/problems to solve with money never stop arising, how do you handle your withdrawal? Be sincere, considering that local currency is becoming less of value as the cost of things are constantly rising now, so much that the cost price today is not the cost price tomorrow. Is a budget still effective in your opinion?
Needs and wants/problems to solve with money never stop arising, how do you handle your withdrawal? Be sincere, considering that local currency is becoming less of value as the cost of things are constantly rising now, so much that the cost price today is not the cost price tomorrow. Is a budget still effective in your opinion?
Withdrawing and exchanging your coins into your local currency requires self-restraint. You have to know your limits so you won't be able to touch the coins intended to be held for the long term. Otherwise, you'll end up regretting it later.
Personally, budgeting is still effective. I guess it's just a matter of discipline on how you will spend and save your money. As for me, I prioritize the things that I need over the things that I want. Although of course, there are still times that I give in to buying some luxurious things, but only as long as I can afford it. I don't go beyond the boundaries that I have set in spending for my wants. However, there are tendencies sometimes to go a little over the budget when it comes to buying the necessities because of higher inflation rate. As long as the things that I'm buying are needed in order to survive, I don't worry spending a few more bucks.
October 09, 2021, 04:35:26 AM
Withdrawal can become a habit. Once you develop the habit of withdrawing either fiat or converting your crypto holding to local currency for use, It almost becomes so difficult to break.
Needs and wants/problems to solve with money never stop arising, how do you handle your withdrawal? Be sincere, considering that local currency is becoming less of value as the cost of things are constantly rising now, so much that the cost price today is not the cost price tomorrow. Is a budget still effective in your opinion?
Well it’s good to be making budgets so that we will be able to know what you’re spending on. But, sometimes there are some expenses that you never plan and they just come in out of nowhere.And just like you said, these days inflation has been much and there has been an increase in the price of most things you will find in the market.Needs and wants/problems to solve with money never stop arising, how do you handle your withdrawal? Be sincere, considering that local currency is becoming less of value as the cost of things are constantly rising now, so much that the cost price today is not the cost price tomorrow. Is a budget still effective in your opinion?
So, the best solution now will be to increase our means of income: if you only have one source of income, it’s best that you also look for another source that will serve as a passive income. So what I’m trying to say is that your income should match or surpass the level of expenses you are making in a month.
October 08, 2021, 06:50:33 PM
Withdrawal can become a habit. Once you develop the habit of withdrawing either fiat or converting your crypto holding to local currency for use, It almost becomes so difficult to break.
Needs and wants/problems to solve with money never stop arising, how do you handle your withdrawal? Be sincere, considering that local currency is becoming less of value as the cost of things are constantly rising now, so much that the cost price today is not the cost price tomorrow. Is a budget still effective in your opinion?
Needs and wants/problems to solve with money never stop arising, how do you handle your withdrawal? Be sincere, considering that local currency is becoming less of value as the cost of things are constantly rising now, so much that the cost price today is not the cost price tomorrow. Is a budget still effective in your opinion?
Honestly, I never really found it that enticing to withdraw my cryptos.
But I can see why regular withdrawals can psychologically impact your willpower to hold coins for the long run.
Until crypto is the dominant unit of account for value, it's probably good to have regular fiat based cash flows coming in that represent a security in case anything occurs in real life that requires funding - so that you don't have to pull out your investment to fund that real life issue.
October 08, 2021, 04:31:15 PM
I might also add that budgeting on its own is a very useful life skill,,, something they should teach you in school or at home. Most times I look back at my fellow housemates and workmates after uni and going to work living independently for the first time. Most did not know budgeting and just randomly figured stuff out and so ended up in debt every month before salary. Salary comes in and immediately huge chunk cut off for credit card.
This is not just good for Bitcoin holding,,, good for getting by in life financially.
Nothing related to finance would ever be thought in schools. Schools are places where workers are raised, the better the school the better the worker. If they teach kids the value of money and how they could save or how they could get debt to grow bigger and so forth then they would also allow people to realize that the rich are way too rich as well.This is not just good for Bitcoin holding,,, good for getting by in life financially.
Having 200 billion dollar worth is not something you can do these days without doing something shady, things like letting your workers not even have time to go to bathroom, or even have people die in your warehouses, crushing unions, and all those things.
This is why I believe that there is going to be no financial education at all in order to keep the kids ignorant about the true meaning of money, learning what it is would make those kids grow up resenting the real wealthy, the ones that are like only 2000 in a nation of 400+ million so not really against everyone, but those 2000 people will do their best and spend more to keep it as it is.
October 08, 2021, 11:47:56 AM
I have kept it simple, when I require money for something and falling short on fiat then without an option have to sell some crypto and get the work done. I avoid using debt and keep it way as when you require money and your own money does not come to use than no point of having it. And dips always exists in market to buy as well.
October 08, 2021, 07:39:37 AM
I still work on a budget, and try to restrict myself from withdrawing and spending for unnecessary things in my life. It’s hard at first, but it’s worth trying especially if you’re just living alone like me. Though things will change once you have a family that you’re raising. Budgeting will then, be hard and there will surely be times when you need to swipe and withdraw some cash. You can’t really say no to that, as that’s the needs of your family. Hence why the family dynamics nowadays is different compared to the last few decades, as both parents need to work in order to serve some food on the plate.
Agree since the price of food right now are doubled so we need to work also twice. I would really say that when time that i still dont have children , the money is really there , i only spend it for food and also for my parents since i was working on that time , i do have saving on that time but when i got married most of the saving are gone since you really need to get it to use it for the living. But still family is the best thing that ive ever happened to me although we have only enough money to buy the basic needs but still we will strive to save just to get our wants
October 08, 2021, 04:58:30 AM
I still work on a budget, and try to restrict myself from withdrawing and spending for unnecessary things in my life. It’s hard at first, but it’s worth trying especially if you’re just living alone like me. Though things will change once you have a family that you’re raising. Budgeting will then, be hard and there will surely be times when you need to swipe and withdraw some cash. You can’t really say no to that, as that’s the needs of your family. Hence why the family dynamics nowadays is different compared to the last few decades, as both parents need to work in order to serve some food on the plate.
I might also add that budgeting on its own is a very useful life skill,,, something they should teach you in school or at home. Most times I look back at my fellow housemates and workmates after uni and going to work living independently for the first time. Most did not know budgeting and just randomly figured stuff out and so ended up in debt every month before salary. Salary comes in and immediately huge chunk cut off for credit card.
This is not just good for Bitcoin holding,,, good for getting by in life financially.
October 08, 2021, 04:50:54 AM
All this makes sense and I personally try to be as self-sufficient as possible by having my own property, growing organic food, having access to clean water, and I plan to at least install solar panels to at least somewhat reduce electricity consumption. But a good part of the population lives in cities and in residential buildings where they have almost no ability to do any of the above - they are completely dependent on the system.
In addition to growing your food, you need to have the knowledge of how to do it in addition to the land, be ready to get your hands dirty, and also be lucky with the weather influences that have changed for the worse lately. Frequent summer hail storms combined with extremely high temperatures have significantly reduced agricultural yields around the world, and from personal experience, I can say that I have never experienced more heatwaves than this year. This only increased the cost of production in my organic garden even more, because I had to protect the plants from the sun with protective covers.
Still, the effort paid off, not only did I enjoy healthy fruits and vegetables (which I still have), but I filled the pantry with what will help me survive the winter, and of course I rely on BTC to help if needed
You do not have to reach to that level, you do not have to be self-sufficient in that sense. How about having enough passive income that you get to buy all those things without having to worry about money, that is still as good, believe me you will be even happier as well. Think about living in a world where you have enough money to pay for a penthouse in the talents building of your city, and you still do not worry about money in anything, have cooks and cleaners and all that.In addition to growing your food, you need to have the knowledge of how to do it in addition to the land, be ready to get your hands dirty, and also be lucky with the weather influences that have changed for the worse lately. Frequent summer hail storms combined with extremely high temperatures have significantly reduced agricultural yields around the world, and from personal experience, I can say that I have never experienced more heatwaves than this year. This only increased the cost of production in my organic garden even more, because I had to protect the plants from the sun with protective covers.
Still, the effort paid off, not only did I enjoy healthy fruits and vegetables (which I still have), but I filled the pantry with what will help me survive the winter, and of course I rely on BTC to help if needed
Now that sounds like a very very wealthy situation right? You do not have to reach those levels to be self-sufficient in a city, just own your own apartment flat, just a small 2 bedroom place, then have enough passive income to pay for your bills and food needs, then you can even work for extra stuff, as long as you can pay your bills and food, you do not need anything extra, it would be great to go to movies once in a while, see a gallery, have a dinner outside and so forth but you can work for them and it would not take too much time.
October 07, 2021, 04:57:36 PM
Withdrawal can become a habit. Once you develop the habit of withdrawing either fiat or converting your crypto holding to local currency for use, It almost becomes so difficult to break.
Needs and wants/problems to solve with money never stop arising, how do you handle your withdrawal? Be sincere, considering that local currency is becoming less of value as the cost of things are constantly rising now, so much that the cost price today is not the cost price tomorrow. Is a budget still effective in your opinion?
Needs and wants/problems to solve with money never stop arising, how do you handle your withdrawal? Be sincere, considering that local currency is becoming less of value as the cost of things are constantly rising now, so much that the cost price today is not the cost price tomorrow. Is a budget still effective in your opinion?
Well personally for me putting budget out for things never works, at the end of the day there are always unimaginable circumstances, especially in the wake of COVID that requires a lot of extra money every once in a while and the government is not even being kind to the people, the fares everywhere are rising and at the same time, people always use things like Credit cards, which doesn't go down so good. As far as I have seen all my friends are paying off their credit card loans. Plus in a student's life it's very important to always keep extra money with you, when you have investments like cryptocurrencies it's both risky/boon, therefore everyone has to tread lightly. It's a hard task, I don't think we can follow any rules here.
October 07, 2021, 04:46:18 PM
Withdrawal can become a habit. Once you develop the habit of withdrawing either fiat or converting your crypto holding to local currency for use, It almost becomes so difficult to break.
Needs and wants/problems to solve with money never stop arising, how do you handle your withdrawal? Be sincere, considering that local currency is becoming less of value as the cost of things are constantly rising now, so much that the cost price today is not the cost price tomorrow. Is a budget still effective in your opinion?
One of the big problems of people of today is that many cannot differentiate between a need and a want, when a new smartphone comes out they want to buy it thinking of it as a need as they need to keep themselves communicated, but why get rid of the phone you have in your pocket which can do 95% of the things the new phone can do and you do not have to spend any more money in it? So that is the first step to begin to reduce your expenses so you can begin to budget your income in a more efficient way so you can keep most of your coins and you can benefit from the bull market that is coming. Needs and wants/problems to solve with money never stop arising, how do you handle your withdrawal? Be sincere, considering that local currency is becoming less of value as the cost of things are constantly rising now, so much that the cost price today is not the cost price tomorrow. Is a budget still effective in your opinion?
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