Re: The usefulness of budget as a bitcoiner

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.

Saying that budgeting is good for personal finance is the same as saying that drinking water is essential for us to stay alive. Grin

OP, you don't bring any value to the conversation. This is just a generic forum post to help you boost your post count.
I have never seen a Bitcoiner, who doesn't pay attention to his income and expenses. Risk management and budgeting are two different things, but I don't want to waste my time explaining the difference, when you could simply do a Google search and find all the info you need.

I honestly think you overestimate a lot of bitcoiners. Many of them have indeed bought bitcoin without planning too much. They just experienced massive FOMO and trying to be in on what seems to be the most profitable thing right now. For some people, this might be common sense for some people it does not come as natural as it does for others. A lot of people do not budget because they just buy anything they want and they are the ones who tend to lose out the most since they do not know where their money is going exactly.

I understand from your perspective, those are one time investors, they get into the market like it is no big deal for them especially because they have the money available, one must have enough before investing at any time regardless of FOMO, without making any proper planning, for any long term investors that practically decides on DCA strategy will require creating a budget that matches his expenses on his monthly needs, emergency funds and what is made available for investment. Let's not downgrade budgeting, even those with good finances all require budgeting to make their investment more lively and productive.