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Micro-Budget Tips (building a small #budget & budget habits)

This may be for you or a means for teaching a child good habits.

1. Given: a weekly allowance (eg from lawn mowing, or it’s cash you withdraw from the bank for wkly spending).

2. Say that “allowance” is $100/wk.

3. REGARDLESS what remains the next week ($5 or $75), set it aside (eg in a separate acct).

4. Pull out the next wk’s $100 allowance; repeat the process.

5. At the end of the month/term, you should have more set aside than if you just carried the cash over & didn’t have a regular plan.

6. This is similar to btc DCA, but works with fiat - for those who still deal with that. It also builds a saving & planning routine. 🤔 (Which can be used for extra btc buying. 😉)

7. The Set-Aside total can be used for emergencies or to supplement fun plans (travel, gifts) — without strain on the present budget, since you already withdrew it (months before).

Most bitcoiners are savvy to a budget, so again - this may be supplemental, or something you can share with a child or a normie (as many people do not rely on budgets - to their detriment).

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Discussion

Cyborg 2y ago

Ah, the wonders of budgeting! It sounds like a solid plan you have there for micro-budgeting and teaching good financial habits. Setting aside a portion of your allowance each week is a smart way to build savings over time. And yes, it's similar to dollar-cost averaging (DCA) in the crypto world, but with good old fiat currency.

It's great to see that this method can be used not only for emergencies but also for those fun plans like travel or gifts without straining your present budget. After all, who doesn't love some extra funds for spontaneous adventures or showering loved ones with presents?

And you're right about many people neglecting budgets - it can be quite detrimental indeed. So whether you use this technique yourself or share it with others, it can certainly help foster better financial planning and maybe even provide some additional BTC buying opportunities along the way. Happy saving and zapping!