Weekly/monthly financial statements, which do you prefer?

ReiMomo

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Quote from: KTChampions on August 22, 2021, 08:09:09 AM

Quote from: smyslov on August 22, 2021, 04:53:03 AM

I'm not losing a lot of money and I can't remember a huge amount of money than what I deposit and I'm not playing on a daily basis so I don't need any statement it will just remind me of money that I use to play, of course, I will be surprised maybe it's enough for me to buy a new motorcycle but on the other hand, I enjoyed playing these games and that's priceless for me.

I agree with you. Your reasoning reminded me of business trainings when "trainers" are advised to give up small regular expenses (such as a daily latte) and say that saving on this in a year turns into a large amount. In my opinion, giving up small pleasant spending (be it latte or gambling) will bring more disappointment than joy from the amount of money saved.

When we finally count on how much we saved, we tend think what if I have reduced my expenses more and saved more. It certainly happens. Often, its would be really so good to plan to spend on something which would just make us feel happy or just past time. But when that occasion gets over and we think back on it, we realize, how it be good enough if i have skipped that occasion. Later, I felt its ok and its necessary to spend on something which would certainly make us happy and entertain us.

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Quote from: smyslov on August 22, 2021, 04:53:03 AM

I'm not losing a lot of money and I can't remember a huge amount of money than what I deposit and I'm not playing on a daily basis so I don't need any statement it will just remind me of money that I use to play, of course, I will be surprised maybe it's enough for me to buy a new motorcycle but on the other hand, I enjoyed playing these games and that's priceless for me.

I agree with you. Your reasoning reminded me of business trainings when "trainers" are advised to give up small regular expenses (such as a daily latte) and say that saving on this in a year turns into a large amount. In my opinion, giving up small pleasant spending (be it latte or gambling) will bring more disappointment than joy from the amount of money saved.

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Quote from: smyslov on August 22, 2021, 04:53:03 AM

Quote from: Rruchi man on July 25, 2021, 02:28:38 PM

When you spend money constantly in bits, it is normal that you may not be able to keep track of the amount you have spent on something say gambling or alcohol. If a financial record or something like a register is shown to you having the total amount you've spent on a habit, you may be surprised the total amount you see.

As a way to keep track, would you like to receive regular, maybe weekly or monthly financial statements highlighting wins and losses from a gambling site?

Can you share your thoughts please?

I'm not losing a lot of money and I can't remember a huge amount of money than what I deposit and I'm not playing on a daily basis so I don't need any statement it will just remind me of money that I use to play, of course, I will be surprised maybe it's enough for me to buy a new motorcycle but on the other hand, I enjoyed playing these games and that's priceless for me.

This monitoring is important for those who are serious about gambling, those who gamble with a decent amount need to timely monitor their bankroll, and not only for that purpose, but they also need this if they are paying taxes on their winnings. When I was new, I tried this strategy but eventually, I got bored because I also don't lose big money in gambling and I'm just having fun, so no need to record my gambling transactions.

molsewid

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Quote from: perla on August 15, 2021, 01:05:28 AM

I would go on with monthly financial statements in that way I could keep track my gambling profit or losses for the whole month actually it's just the same as weekly financial statement but you wouldn't keep track on that since it's just a weekly winning and losses. I still prefer the bigger time frame.

I do prefer too for a monthly financial auditing of all of my liabilities either it should be my gambling losses or my whole month expenses it is much better for me to track it monthly. Though I made my daily record jotted down or log and it helps me tracked my daily profit and losses too. It's a very helpful tool because I am being aware of my daily activities especially when it comes to my financial activities. I do tend to gamble three times in a week so it is better to made my own set of records for every profit/lose that I've made.

smyslov

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Quote from: Rruchi man on July 25, 2021, 02:28:38 PM

When you spend money constantly in bits, it is normal that you may not be able to keep track of the amount you have spent on something say gambling or alcohol. If a financial record or something like a register is shown to you having the total amount you've spent on a habit, you may be surprised the total amount you see.

As a way to keep track, would you like to receive regular, maybe weekly or monthly financial statements highlighting wins and losses from a gambling site?

Can you share your thoughts please?

I'm not losing a lot of money and I can't remember a huge amount of money than what I deposit and I'm not playing on a daily basis so I don't need any statement it will just remind me of money that I use to play, of course, I will be surprised maybe it's enough for me to buy a new motorcycle but on the other hand, I enjoyed playing these games and that's priceless for me.

xSkylarx

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Quote from: coin-investor on August 15, 2021, 05:52:10 AM

I want mine weekly, so I can change direction if I am losing or adding more funds beyond my capability, in fact, I just created a list of my losses and winning I experienced shortness of funds because of the pandemic, that I need to track how I handle my finances so I can change how I spend them and if there's a need to change your actions for the next week's activity.

It's encouraging to hear that you've been able to effectively manage your finances and your personal losses as a result of the pandemic. The problem with most gamblers these days is that they get hooked on the game and become addicted to it, which is a major problem nowadays.

We all have our own preferences, which for you may be weekly and for others may be monthly, but the best way to track is really weekly because it is more frequent and you know where you are going. This is not to say that monthly is not good, but I believe those who choose monthly do so because it is much more difficult if it is weekly than monthly.

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Quote from: dunfida on August 16, 2021, 05:37:21 PM

Dont see that it would really be necessary because if you do really mind off on how much you do spend on gambling then you arent really ready to lost those funds in the first place.

You dont need to track.Gambling is for entertainment and not some sort of investment which you do need to have some tracking on how much you had already spent.Also you can make out

calculations if you do wanted to since gambling sites does have deposit and withdrawal history.

I too haven't seen anything to really track about gambling or maybe because I do not use to it the mothod, even my gambling budget is not worth tracking because I know already the total amount of money I received monthly which 2 to 5% can be easily calculated out of it, I even still do not spend up to 2% of my gambling budget at times because gambling should be taking for fun not business, I do not let emotion to set in at all. I do not check deposit and withdrawal history which I do not even see necessary, but what I know is that some betting sites will delete some useful information after some times like 6 months or one year depending on the terms of service but I am not sure if deposit and withdrawal history will be among.

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Quote from: dunfida on August 16, 2021, 05:37:21 PM

Quote from: ethereumhunter on August 16, 2021, 01:21:39 AM

Quote from: Karartma1 on August 15, 2021, 01:31:18 AM

If we talk about gambling then I prefer to manage my funds on a weekly basis. It helps me dearly to find a way not to overbet and keep a constant money flow which doesn't have to go beyond my budget. Talking about the budget specifically, given the small profit I was able to get during the last season, I might increase it around 20%

As long as you do not break your budget limit, you might get profit, but you still need to control your limit money. It is better to save the profit or withdraw the money than to add it to the bet because that will not increase the chance to win the game. A weekly report will show us how much money we use in gambling to determine if that amount is enough or we need to reduce it.

Dont see that it would really be necessary because if you do really mind off on how much you do spend on gambling then you arent really ready to lost those funds in the first place.

You dont need to track.Gambling is for entertainment and not some sort of investment which you do need to have some tracking on how much you had already spent.Also you can make out

calculations if you do wanted to since gambling sites does have deposit and withdrawal history.

Not all gamblers would really be ready to see the losing money in gambling and maybe after they see how much money they already lost in gambling can change their mind to reduce their money and time. That will be better for them because they know that they waste their money on something that they can not always win.

Yes, gambling is for entertainment but since gambling became a source of income for some gamblers, they do not consider gambling is for entertainment instead be a way to earn money. That is why if they can track the money that they used for gambling will be necessary. That can prevent them from getting deeper into gambling and controlling their money.

It will be better if we have reported knowing how much our gambling expenses are for playing gambling and maybe we can allocate that money for something else.

dunfida

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Quote from: ethereumhunter on August 16, 2021, 01:21:39 AM

Quote from: Karartma1 on August 15, 2021, 01:31:18 AM

If we talk about gambling then I prefer to manage my funds on a weekly basis. It helps me dearly to find a way not to overbet and keep a constant money flow which doesn't have to go beyond my budget. Talking about the budget specifically, given the small profit I was able to get during the last season, I might increase it around 20%

As long as you do not break your budget limit, you might get profit, but you still need to control your limit money. It is better to save the profit or withdraw the money than to add it to the bet because that will not increase the chance to win the game. A weekly report will show us how much money we use in gambling to determine if that amount is enough or we need to reduce it.

Dont see that it would really be necessary because if you do really mind off on how much you do spend on gambling then you arent really ready to lost those funds in the first place.

You dont need to track.Gambling is for entertainment and not some sort of investment which you do need to have some tracking on how much you had already spent.Also you can make out

calculations if you do wanted to since gambling sites does have deposit and withdrawal history.

ethereumhunter

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Quote from: Karartma1 on August 15, 2021, 01:31:18 AM

If we talk about gambling then I prefer to manage my funds on a weekly basis. It helps me dearly to find a way not to overbet and keep a constant money flow which doesn't have to go beyond my budget. Talking about the budget specifically, given the small profit I was able to get during the last season, I might increase it around 20%

As long as you do not break your budget limit, you might get profit, but you still need to control your limit money. It is better to save the profit or withdraw the money than to add it to the bet because that will not increase the chance to win the game. A weekly report will show us how much money we use in gambling to determine if that amount is enough or we need to reduce it.

coin-investor

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I want mine weekly, so I can change direction if I am losing or adding more funds beyond my capability, in fact, I just created a list of my losses and winning I experienced shortness of funds because of the pandemic, that I need to track how I handle my finances so I can change how I spend them and if there's a need to change your actions for the next week's activity.

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Quote from: perla on August 15, 2021, 01:05:28 AM

I would go on with monthly financial statements in that way I could keep track my gambling profit or losses for the whole month actually it's just the same as weekly financial statement but you wouldn't keep track on that since it's just a weekly winning and losses. I still prefer the bigger time frame.

Yes, there's not much difference between monthly and weekly. Because you're just going to have 4 weekly reports which you can check your statements per week if that's your preferred tracker. But if you're into bigger or the monthly, that's fine.
You like the bigger time frame difference while the others are into weekly or bi-weekly.

Karartma1

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If we talk about gambling then I prefer to manage my funds on a weekly basis. It helps me dearly to find a way not to overbet and keep a constant money flow which doesn't have to go beyond my budget. Talking about the budget specifically, given the small profit I was able to get during the last season, I might increase it around 20%

perla

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I would go on with monthly financial statements in that way I could keep track my gambling profit or losses for the whole month actually it's just the same as weekly financial statement but you wouldn't keep track on that since it's just a weekly winning and losses. I still prefer the bigger time frame.

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Quote from: Fesatmas on August 14, 2021, 12:56:12 PM

Quote from: traderethereum on August 14, 2021, 12:36:16 AM

Quote from: ?? on ??

For me it works in weekly financial statements I always limit my fund in gambling, every week if I have some wins I add it to my weekly fund for example my total weekly budget is $500 and I win $200 so a total of $700 in next week I only add $300 to make it $1000 but if I lose then it's the opposite the maximum is $500 per week. So for me I do prefer weekly financial statements rather than monthly.

Winning $200 is included in a big win and not many gamblers can win that amount.
Most the gamblers win less than $100 and they still try to win more money but some of them are breaking their rule of limiting their money.
$500 will be bigger for other gamblers because many of us play with a small amount and do not expect to win much money.
Having weekly financial statements will make it easy to check how much money we already use to gamble and know if that money is big or needs to reduce.

obviously very big for us to win $200 is the money I get every month. But if with gambling then we still consider it small, is it possible that what is at stake is more than that? In fact we only bet under $50 for each bet. And even then with regular management, we avoid waste, because basically gambling is very draining of money if you can't control it properly. If you don't have time to make a financial report, that's no problem, because you can see it in the transaction history.

Yes, the stake will be more than that winning amount because it is difficult to win big money with a small stake.
But I am sure some people can win big by using a small amount, only for the lucky person.
Betting under $50 still does not give us a big chance to win big money unless we have luck but if your income is more than $400, using $50 will not be too big but maybe your bet amount should be lower than $30.
If you can collect data for how much money you use to gamble, maybe you will shock to see the amount will be more than $50.

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Quote from: traderethereum on August 14, 2021, 12:36:16 AM

Quote from: ?? on ??

For me it works in weekly financial statements I always limit my fund in gambling, every week if I have some wins I add it to my weekly fund for example my total weekly budget is $500 and I win $200 so a total of $700 in next week I only add $300 to make it $1000 but if I lose then it's the opposite the maximum is $500 per week. So for me I do prefer weekly financial statements rather than monthly.

Winning $200 is included in a big win and not many gamblers can win that amount.
Most the gamblers win less than $100 and they still try to win more money but some of them are breaking their rule of limiting their money.
$500 will be bigger for other gamblers because many of us play with a small amount and do not expect to win much money.
Having weekly financial statements will make it easy to check how much money we already use to gamble and know if that money is big or needs to reduce.

obviously very big for us to win $200 is the money I get every month. But if with gambling then we still consider it small, is it possible that what is at stake is more than that? In fact we only bet under $50 for each bet. And even then with regular management, we avoid waste, because basically gambling is very draining of money if you can't control it properly. If you don't have time to make a financial report, that's no problem, because you can see it in the transaction history.

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Quote from: Xinarae* on August 13, 2021, 11:23:12 PM

There is no set time for gambling weekly monthly financial earnings gamblers can benefit financially by gambling at any time if they have a good knowledge of gambling. It is usually up to the individual to decide which weekly and monthly financial statements to choose if you gamble well then there is no need for weekly and monthly to make money from different sites every day. It is very important to have the mentality and real ability to be in a strong position like setting the rules Therefore, it is expected that policy makers will not take risks like gambling without thinking ahead in future planning.

Where there are no rules in the gambling schedule, it's just that if you can have time to avoid waste. Determining the time to gamble once a week, or once a month, depending on him makes his gambling scheme much more controllable.

traderethereum

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Quote from: ?? on ??

For me it works in weekly financial statements I always limit my fund in gambling, every week if I have some wins I add it to my weekly fund for example my total weekly budget is $500 and I win $200 so a total of $700 in next week I only add $300 to make it $1000 but if I lose then it's the opposite the maximum is $500 per week. So for me I do prefer weekly financial statements rather than monthly.

Winning $200 is included in a big win and not many gamblers can win that amount.
Most the gamblers win less than $100 and they still try to win more money but some of them are breaking their rule of limiting their money.
$500 will be bigger for other gamblers because many of us play with a small amount and do not expect to win much money.
Having weekly financial statements will make it easy to check how much money we already use to gamble and know if that money is big or needs to reduce.

Xinarae*

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There is no set time for gambling weekly monthly financial earnings gamblers can benefit financially by gambling at any time if they have a good knowledge of gambling. It is usually up to the individual to decide which weekly and monthly financial statements to choose if you gamble well then there is no need for weekly and monthly to make money from different sites every day. It is very important to have the mentality and real ability to be in a strong position like setting the rules Therefore, it is expected that policy makers will not take risks like gambling without thinking ahead in future planning.

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Guys, there is no term of an ideal number of your regular funds in gambling. For those people who prefer to track their funds weekly or monthly, is a good idea. While for some people who don't care about the number of their funds to use, is also no problem. Actually, it is an individual choice. However, if you think you are afraid to play excessively if no limit on your gambling funds, you are better to track your funds monthly at least. I also didn't track my fund allocation for gambling every time. Tracking it monthly, I think is more than enough.

Topic: Weekly/monthly financial statements, which do you prefer? (Read 1554 times)