Quote from: topbitcoin on Today at 08:42:12 PM

Quote from: JayJuanGee on February 15, 2025, 03:43:03 AM

I doubt that I am blaming you for making mistakes. Many of us make mistakes, yet sometimes we cannot identify that we still might be in a bad kind of mindset, so we keep making the same mistakes over and over, and staying involved in shitcoins or can's stop trying to trade bitcoin, which can be some of those kinds of mistakes that are hard to get away from continuing to make.

It should be something like this that needs to be avoided because of course we should be able to evaluate ourselves as much as possible so that it is better for the future so that when in the end the situation that we consider a mistake, especially when we are in shitcoin, as much as possible it must be changed. The problem that always occurs is the mindset that is ultimately wrong again where sometimes some of us consider being on shitcoin as a powerful way to make wealth instantly and continue to be fixated on some influencers who sometimes only want personal gain is always the initial problem where they are moved and make the same mistakes again and again.

In some conditions we must have made mistakes including in investment but the most important thing in this case is how capable we are of evaluating ourselves so that the future is more secure because after all mistakes are not things that must be repeated but must be used as learning.

Sure some mistakes are BIGger than others, and some mistakes are easier to identify and/or attempt to rectify than others. Some folks continue to make similar mistakes over and over and over, and sometimes they will even proclaim that they identified their earlier mistakes and they are fixing such mistakes, but their means of "fixing" the mistakes might not be sufficient to really get at the core of their mistake.. sometimes, they engage in poor cash management practices, or they are not very organized or maybe they cannot resist but to take risks and gamble, butt then they have a slippery slope kind of an error where they don't even realize that they are overly allocating capital towards risk taking behaviors. Sometimes they might be able to help themselves by engaging in better organizing their funds and keeping various kinds of reserve funds, yet surely part of their problem likely stems from their not wanting to 1) go through a tedious process of projecting their income versus their expense, or 2) restrict themselves in terms of wanting to spend on things that they like.

On the first one, they might not be good with computers, so they might just have to write out their monthly budgets on paper. I prefer doing much of that on computer using excel but there is a little bit of a learning curve, including figuring out how to format the spreadsheets and then sometimes working with formulas.. so that you don't always have to do the math...but I understand some of this can be difficult for people, but just plotting out finances on paper should be helpful.. Such categories

How much is total income for each month?
expected. actual.

How much is total expenses for each month?
expected. actual.

How much money is held in reserves?

Emergency fund.

Various categories of back up funds.

Float is usually the amount that might linger in accounts that may or may not end up going to pay expenses, since maybe when we get paid, we might receive $1k for the month, but we are not sure about all of the monthly expenses, so we might not want to spend from the float until all of the monthly expenses are confirmed. They might be anywhere between $400 and $1k... but we are not exactly sure until all the bills come in...and some of the bills will sometimes vary. The more we practice keeping track, we likely learn how to make sure that we have fewer surprises, even if surprises still might come from time to time.