What's is daily budgets or expenses as a bitcoiner? - page 6.

uswa56

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Quote from: fuer44 on March 27, 2023, 06:38:52 AM

Quote from: Godlovesyou on March 26, 2023, 01:07:27 PM

I know everybody is not in a same class but still we all do budgeting, expenses and impulse. How much do spend a day? Do you think is possible to program your daily expenses?

What you say it is very important, whatever your salary or income, daily expenses are very important to calculate. In my country which incidentally is a developing country, $ 10 is enough to live alone but if you already have a wife or expenses for a family at home, $ 15 is enough. And it must be saved as much as possible there is still some left so it can be saving.

It all depends on our income, the more income, the more expenses, that's a common thing I think, when someone earns a lot of money, he will spend a lot for his needs, while if people with low income will adjust.
Everyone's level will be different from income, personally I have experienced it myself when I have a lot of income it will be used up for needs but when my income is small then it will also be enough.

michellee

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It depends on how much money you can afford because the budgeting or spending we do to invest or trade will be different. By knowing how much money you can afford, you can note your budget for each day to trade or invest.

To invest, you don't need to buy Bitcoin every day but make it once a week or once a month. So you just have to buy Bitcoin regularly based on the period that you have specified. And it will be different if you want to trade because in trading, maybe you need to provide more money. After all, there is a possibility that you will face a different situation.

You can keep a record of daily expenses so you will know how much you are using to trade or invest. This will make it easier for you to track how much your profits and losses will be.

tjtonmoy

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I just make a plan for the whole month. Everything I earn I divide it into 2 parts. 75% and 25% to be exact. 75% I use for savings, investments, emergencies, etc. The other 25% I use it for the whole month. I can easily cover the whole month with that. If any emergency situation occurs, I still have the backup funds. So the budget is quite strict. I try to avoid unnecessary expenses so that my budget won't get affected that much.

I don't think being a bitcoiner has anything to do with this. It depends on your income, your lifestyle, your expenses, and the price of goods. But if your life is dependent on Bitcoin investment or trading then it might vary. Price fluctuation could heavily affect your daily or monthly budget. If you choose Bitcoin as your main source of income, then making a budget according to it could be tough. But if we make a plan and save, then we can avoid such problems to some extent. Keep what you need and want to save. After that, invest the rest of what you can afford to lose. This is the first thing we need to keep in our mind. So, it won't have any effect on our daily life. So in the end, bitcoiner has nothing to do with it if you know what you are doing.

irhact

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Quote from: fauzan Ichsan on July 07, 2023, 12:55:00 AM

The results from cryptocurrency are not yet able to fulfill my daily needs, but from real work I make it to meet the needs of life and the results from cryptocurrency I only use 10% to reward myself for example taking a vacation, and others return to invest at the right time

Crypto earnings aren't fixed, if we're looking for fixed income then we have to look for a job that has a fixed salary so we can have fixed income coming in often. I don't have a fixed income anyone as I'm not working at the moment but I'm working on getting a job soon. I have already submitted application in multiple places and I believe one of them will call me for an interview very soon. It's easier to plan your expenses with fixed income.

When I do get the job, I'll spending about 3% of my earnings daily, my new job earnings will be strictly for my wellbeing as I'll be using my other earnings for my investment and savings. For now I'm saving some of my signature payment but when I get a job I'll be saving a 100%.

Razmirraz

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Quote from: Godlovesyou on March 26, 2023, 01:07:27 PM

I know everybody is not in a same class but still we all do budgeting, expenses and impulse. How much do spend a day? Do you think is possible to program your daily expenses?

Financial management needs to be done to manage finances properly, expenses and income need to be adjusted so that you have savings at the end of the month. Daily expenses depend on each individual, people with economic limitations will be more careful in spending money so as not to cause economic pressure when needed.
Daily expenses are unavoidable, everyone must spend their money to make ends meet. Regarding how much money to spend a day depends on the needs of each individual.

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Quote from: flyingcarpet on July 07, 2023, 01:19:19 AM

In today's economies, acting without a plan can put us in a difficult situation. We must pay attention to this.

Budgeting is very important in our lives because if we don't do that at the end of the year we see we can't lay claims to anything tangible. Budgeting starts from our daily activities, that is how we can break it down to know our expected expenditure and deduct it with our income. So with the daily calculation, we sum it up for the month and know what range of expenditure we can be running in a month and the yearly expected income and expenditure will be known.

There is another aspect of this budgeting that needs to be taking care of but this depends on the earning capacity. This is miscellaneous. Miscellaneous is other expenses that may not be covered from the known and identified expenses. So you can have expenses that will involve the extended families, friends asking for support, emergencies also. We need to have an economic balancing of income and expenditure.

BRINIRHA

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This is included in the financial management that we usually do. divided into daily, weekly and monthly expenses. plus incidentals. But I won't go into that in detail. I just want to answer that I am used to setting a budget that I spend for a month's needs is only around 15-25% of my total income a month. and the rest I save and I invest. But this also depends on the number of family members you are responsible for. the more family members you have. then the percentage of spending must also be different.

flyingcarpet

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Quote from: Kakmakr on July 07, 2023, 12:47:25 AM

I work on the 80/20 principle, where I hoard 80% of the coins I buy and spending 20% of it on food and services. I convert a certain amount of my salary to Bitcoin and then I do the split.

We all set aside a specific amount of our budget for "food" and entertainment.... so I just convert that to Bitcoin and use it at food stalls near my work to buy lunch. (A few of them accepts Bitcoin Lightning payments, so I am lucky) Wink

I think it is proportional to the income of the person. It is a very good situation for you to be able to make such a rate. If I had done it this way, I could upset this balance with my occasional additional expenses. It is good news for your own economy to be able to progress at a rate of 20-80 in a regular manner and paying attention to expenditures. Being able to use bitcoin for some of your expenses also makes you advantageous.

I am not able to control my spending at such a rate as the economies have been in a bad state lately. Still, I made a good plan for myself and I'm moving forward. In today's economies, acting without a plan can put us in a difficult situation. We must pay attention to this.

fauzan Ichsan

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Quote from: Kakmakr on July 07, 2023, 12:47:25 AM

I work on the 80/20 principle, where I hoard 80% of the coins I buy and spending 20% of it on food and services. I convert a certain amount of my salary to Bitcoin and then I do the split.

We all set aside a specific amount of our budget for "food" and entertainment.... so I just convert that to Bitcoin and use it at food stalls near my work to buy lunch. (A few of them accepts Bitcoin Lightning payments, so I am lucky) Wink

in that way you will have assets that are always increasing, and of course with 20% for food and entertainment makes us learn to make ends meet not life's desires which will never end. if I myself the results from cryptocurrency are not yet able to fulfill my daily needs, but from real work I make it to meet the needs of life and the results from cryptocurrency I only use 10% to reward myself for example taking a vacation, and others return to invest at the right time

Kakmakr

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I work on the 80/20 principle, where I hoard 80% of the coins I buy and spending 20% of it on food and services. I convert a certain amount of my salary to Bitcoin and then I do the split.

We all set aside a specific amount of our budget for "food" and entertainment.... so I just convert that to Bitcoin and use it at food stalls near my work to buy lunch. (A few of them accepts Bitcoin Lightning payments, so I am lucky) Wink

Vishnu.Reang

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Quote from: Godlovesyou on March 26, 2023, 01:07:27 PM

I know everybody is not in a same class but still we all do budgeting, expenses and impulse. How much do spend a day? Do you think is possible to program your daily expenses?

I agree with you, everyone belongs from different class but weather individual belong from higher, middle or lower class everyone have their own budget. Everyone spend on sudden things. who don't spend on luxurious things at least they spend on basic needs to run their family. Yes it is possible to track our daily expenses. There are different options on market to track your daily expenses like budget apps, computer spreadsheets as an expenses tracking etc. For Individua its very important to track daily expenses, it will help to avoid unnecessary expenditure in future.

Fortify

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Quote from: Godlovesyou on March 26, 2023, 01:07:27 PM

I know everybody is not in a same class but still we all do budgeting, expenses and impulse. How much do spend a day? Do you think is possible to program your daily expenses?

Frankly Bitcoin is simply a side endeavor, it is just something that sits around in the portfolio with the hope that the price will increase and it could be sold on for a higher rate to someone else later on. That means that a day job with side hustling is still required to pay the mortgage because the bills stack up fast. I prefer to put money into assets that return money on a regular basis, like stocks which payout profits in the form of dividends to the owners. It's a bit silly asking how much people spend per day because even within different countries the disparities in living costs can be huge. It might cost you $5,000 a month to rent somewhere in California, but around a $1,000 in some other states.

Ultegra134

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Depends on the household, any unexpected expenses such as expiring car insurance, tax payments, maintenance, and so on. As a couple, on average we'd spend approximately €30–40 per supermarket trip, usually twice a week. Other expenses include fuel, approximately €30 per week depending on the occasion and the consumption, and going out once or twice a week. It's not easy to come up with an average, but generally, I'm avoiding going overboard, especially after the increasing inflation and the uncertainty it has caused.

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Quote from: Godlovesyou on March 26, 2023, 01:07:27 PM

I know everybody is not in a same class but still we all do budgeting, expenses and impulse. How much do spend a day? Do you think is possible to program your daily expenses?

Because I am married and have one child who is more than 1 year old, my needs often exceed my monthly salary.
and I prefer to prepare a monthly budget rather than a daily budget because it only makes me dizzy because it can't be predicted, because preparing monthly needs is calmer if everything has been done even though sometimes it's minus.
and for my child's needs such as milk, vitamins and food I budget $30 a month.
and for food and gas etc like electricity it's about $260 gas and $50 incidentals and maybe for one month I can spend my monthly budget about $400 for one month, and that need already exceeds my monthly salary.
but with such circumstances I am required to have a job or side income and I am grateful to have it, namely side income from the signature campaign that I have been running so far and this is very helpful, and I also use it when I really need it.

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Quote from: Godlovesyou on March 26, 2023, 01:07:27 PM

I know everybody is not in a same class but still we all do budgeting, expenses and impulse. How much do spend a day? Do you think is possible to program your daily expenses?

It's hard to say how much I spend per day, I think it's around $20. It happens that I don’t spend anything at all, and I always try to plan larger expenses in order to guess with the budget.I don’t have impulse purchases,I control my budget.

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Quote from: Godlovesyou on March 26, 2023, 01:07:27 PM

I know everybody is not in a same class but still we all do budgeting, expenses and impulse. How much do spend a day? Do you think is possible to program your daily expenses?

Some expenses cannot be predicted but an average amount can be calculated if you sit down and start recalling the day over a month. Usually we tend to spend more than we can afford this should be limited and you should be budgeting fine. Spend as per your need and sell those which you dont need any more. Groceries and bills will take the maximum of them all but the internet bills can be cut down if you are willing to sacrifice your series watching demands which itself brings in more sedentary lifestyle, bad for you.

Impulsive spending is common among some people and these people need treatment of some underlying mental health issue which they brush aside on their own.

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Quote from: Godlovesyou on March 26, 2023, 01:07:27 PM

I know everybody is not in a same class but still we all do budgeting, expenses and impulse. How much do spend a day? Do you think is possible to program your daily expenses?

I do have a family composed of 7 including me and my wife.

So here's the breakdown on 24 hour period consumption.

1. Daily commute expense - $4
2. Gasoline - $6
3. Food- $20

Etc... others are montly in counting like electricity and waterbills.

This is why it is really that needed for you to have more income sources on which you cant really just fully rely with your 8-5 job.
There are really moments or times which it cant really be avoided for you to spend up your bitcoin holdings or even with altcoin bag.

Ebede

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Quote from: Godlovesyou on March 26, 2023, 01:07:27 PM

I know everybody is not in a same class but still we all do budgeting, expenses and impulse. How much do spend a day? Do you think is possible to program your daily expenses?

from my own view of understanding I will say that somebody will have each level of expense or expenditure you told him only the person and monthly or weekly so you must expend according to what will help with in the month we should be based on individual method of any really explain how much you are to spend within the week or within the month

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Quote from: Godlovesyou on March 26, 2023, 01:07:27 PM

I know everybody is not in a same class but still we all do budgeting, expenses and impulse. How much do spend a day? Do you think is possible to program your daily expenses?

In this age it is important that we know and do this practice in our daily lives. Because if we don't do this, our money will definitely end up being spent incorrectly. But if we can correct it and use it according to our daily budget, we will also make sure that we can use our money properly and correctly.

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Quote from: Godlovesyou on March 26, 2023, 01:07:27 PM

Do you think is possible to program your daily expenses?

It’s impossible to program daily expenses because there’s always an extra expenses that will come up base on the actual condition on that particular day. You can allocate percentage of your money like what I’m doing but I always encounter a day that need an extra fund out of my budget due to my emergency expenses.

You can tabulate all your daily expenses within a month and get your average expenses. You can use the average expenses to determine how much percentage you are consuming out of your monthly budget.

Topic: What's is daily budgets or expenses as a bitcoiner? - page 6. (Read 851 times)