What really is my bankroll?

[jzpiano14]

I think you need to do some growing up, first of all, your depending on your parents for everything and you think you can play at this great level. Well if you actually believed than I think you would have taken your 5k already and turned it into some insane figure at the 100/200NL. If you've managed to blow through 17k on drinks, uh wow.....maybe cut back on the drinking and next time you win something, keep it in your poker account so you will actually have a bank roll. First get a head on your shoulder, then worry about your classes, and lastly worry about poker. School > EV than poker.

[TeeJayORTj]

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You spend $550 a month on just food and drinks? Cut it down to $300 and you have an extra $250 to play with.

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Depending on where you live, this can vary from difficult to impossible.

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Yeah 300 is the minimum drinking and eating for 1 week...never mind 1 month.

[POKhER]

If you think you can win at the higher limits, prove it by CHRUSHING THE LOWER LIMIT GAMES.

"I really think i can beat the higher stakes, just my bankroll wont let me play them" I hear this quite a bit and i think to myself "If you're ready for the higher stakes, surely you're chrushing the lower stakes... So why do you have a bankroll issue?"

it usually seems its a mix of:

Small sample size and kidding themselves they're chrushing it oh and that they have major leaks in their game which they won't try to correct untill they hit a big downswing.

I think you're kidding yourself about being ready for the higher stakes. Prove me wrong by logging the hands and EARNING the cash to move up.

Quit blowing cash on alcahol, you puke it up the next day and can't even remember if you had a good time.

i'm 18 if that makes a difference.

[Atropos]

I think your Poker Bankroll is only the money you have at the pokersites and you can afford to lose. I am in a quite similiar situation: I got around 11k in poker money, which I won from starting with 50$ and do not need for anything. I play the 400 NL Cashgames. In January I will get around 60k from my parents, money which is supposed to finance my living for the next 6 years at the university (In Germany you dont have to pay for university, so it's just appartment, food etc...).
I could use that money for playing heads-up against Mahatma for one day though [img]/images/graemlins/wink.gif[/img]

[SmackinYaUp]

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You spend $550 a month on just food and drinks? Cut it down to $300 and you have an extra $250 to play with.

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Depending on where you live, this can vary from difficult to impossible.

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Yeah 300 is the minimum drinking and eating for 1 week...never mind 1 month.

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Its called a loaf of bread and a pound of turkey.

300 the minimum my fat, disgusting, hairy, pimply ass. Peoples' lack of money management skills constantly surprises me.

[MicroBob]

$42/day for food/drink every freaking day strikes me as pretty high no matter where you live.

Then again, NBA and MLB players get something like $150-$200/day cash per-diem for road-trips I think (as if they couldn't cover it on their own).


If you're a business-person eating-out and eating out every day (and meeting clients, etc) then obviously you would need even more than that amount.

but if you live at home and have a fairly normal job and normal expenses then I just don't see why you would need that much.

[Nomad84]

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but if you live at home and have a fairly normal job and normal expenses then I just don't see why you would need that much.

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I agree. $300/month is easy if you aren't eating out too much. One thing that I've discovered since I started eating healthy 3 months ago is that it's actually cheaper to do so. I eat 5-6 meals/day (including meal replacements), and I still spend under $300/month. $300/week is just outrageous.

[_dave_]

And a FYI for all US / other posters:

Taking a student Loan is +EV.

Student loans company charges 3.2% interest this year - slc.co.uk

ING Direct pay 4.5% interest from January, others may well pay more.

This results in a net +1.3% growth on someone else's money!


Even if you are ungodly rich and have no need for a student loan, it pays to take as much as you can get and drop it straight into a good savings account.

If you are sure you will not need the money, much higher rates of growth can be obtained, look into ISAs and other guaranteed return savings accounts. I am no expert on these things, but I believe stock market linked savings accounts can yeild 10% or so on a 5-year term.

dave.

[lozen]

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Taking a student Loan is +EV.

Student loans company charges 3.2% interest this year - slc.co.uk

ING Direct pay 4.5% interest from January, others may well pay more.

This results in a net +1.3% growth on someone else's money!


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You did not allow for taxes.

[Catt]

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And a FYI for all US / other posters:

Taking a student Loan is +EV if the purpose is to arbitrage interest rates by investing in an extremely low risk vehicle like insured deposits at a fixed rate from financially solid institutions, and provided the individual has the neceesary free cash flow to make the required period payments on the loan while allowing the untouched capital to earn interest, but not for use as a poker bankroll.

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FYP.