Budgeting can help a bitcoin investor in several way but firstly what is budget ,
A budget is a financial plan that help a person outlines projected income and expenses over a specific period. It helps individuals or organizations manage their finances, prioritize spending, and achieve financial goals. But when it comes down to the usefulness of budgeting as a bitcoiner
It can help to manage risk when investing ,so that a bitcoiner doesn't overextend himself. Budgeting also keeps a bitcoiner disciplined about his or her finances, making sure a bitcoiner prioritize his needs over his wants.
Plus, having a budget in place can help a bitcoiner figure out how much he can afford to invest in Bitcoin, and when it's time for him to diversify his portfolio.
By tracking his expenses, a bitcoiner will definitely get a better sense of his financial situation which makes it easier for an investor to make smart investment decisions.
There are many apps for tracking your expenses, from unserious ones with just a few categories to complex cloud services that can predict all expenses for the next month based on AI, and also have the ability to show what type of products the user is spending on. And this is very cool. After using such apps for many years, I know perfectly well how much money I need per month to live for a month. I know all my expense categories perfectly well and therefore I know how much free money I have left per month. And I don’t understand how people can live without using something like this.
Isn’t it great to always know where you have exceeded your budget and where you have saved?
Of course, thanks to this, it is easy to understand how much free money will appear for investment.