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View Full Version : Another bankroll question


kstamps22
09-02-2005, 05:51 PM
I have been playing professionally for a little over a year now and have been doing fine, however I have been doing it wrong. My bankroll was really too small so i was basically living out of my bankroll which can be very stressful. I now have enough the proper amount in my bankroll. So my question is now that it is not neccassary to live directly out of my bankroll what is the best way to distinguish what is extra money and what stays in my bankroll. Should I pay myself an hourly rate, or percent of what i win each session? I am not sure the best way to go about it so that I don't over extend myself.

Bradyams
09-02-2005, 06:21 PM
[ QUOTE ]
Should I pay myself an hourly rate

[/ QUOTE ]

This doesn't sound like a bad idea, and I think I might try this. It definitely depends on how mouch you make, and how much you need for expenses, but I'm thinking I'll try to pay myself 50% of what my average hourly rate is.

mudbuddha
09-02-2005, 06:28 PM
couldnt you just record your living expenses for a month + spending money that you are willing to spend and just remove that much at the beginning/end of your poker fiscal month from your bank roll..
If your playing professionally, you probably have 2-3 months of expenses lined up, might as well set it aside a specific month that would allow you to live comfortably.

jba
09-02-2005, 08:28 PM
there is some pretty good stuff here (http://www.twoplustwo.com/magazine/issue7/Miller0705.html)

KidPokerX
09-02-2005, 11:16 PM
Good read.