Money Management in Theory and Practice: Part TWOby Steve Zolotow | Published: Sep 12, 2018 |
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In part one of this series on how to optimally manage money and maintain a bankroll I stated that this is not a one size fits all endeavor. It varies from individual to individual depending on factors relating to finances, psychology, skill level, and personal situation. That column included a list of questions. In this column let’s review the questions relating to your finances and discuss why that is important. 1. What is your current net worth? 2. What is your liquid net worth? 3. What is your poker (or gambling) bankroll? 4. What percentage of your income comes from gambling? 5. What are your other sources of income? 6. How much poker income do you need to make to live comfortably? 7. What is the minimum you’d need to survive? 8. Do you have other people to support – a spouse or significant other, kids, etc.? 9. Do they ...
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