A poker fund is a money management strategy that helps you manage your poker tournament earnings and keep yourself from burning through your bankroll too quickly. The key to the success of any poker fund lies in being able to separate winning from losing, and being able to do this while having some money left over for when you're on the losing end.
To get started with any poker fund, start with a budget. You don't want to get so wrapped up in how much you're spending in poker tournaments that you fall into a financial pitfall. A good plan should have a set dollar amount that you're trying to stay away from, and also include a way to account for each and every expense, whether they're winnings or losses. Your poker fund plan needs to be as detailed and complete as possible.
Another part of any poker fund is figuring out how to handle your tournament earnings. When you play poker tournaments, your money goes home with you. That means if you have more money than you need, you can simply walk away, and there's nothing you'll lose. It's important to think about how to divide your income between poker income and your other financial obligations, such as paying your mortgage.
There are many ways to organize your poker fund. Some people like to keep everything in one place, while others like to use a combination of paper and card to track their funds. Either way, though, you'll want to be able to see your poker income in black and white, and know how it's going to fit into your poker tournament plans.
The next thing you'll want to consider when building a poker fund is your spending habits. Poker is a game where you constantly make bets. This is where most people start to burn through their bankroll before they even begin to practice the game. The key to staying within your poker income while you're playing Poker Online is being disciplined enough to make educated guesses and decisions about where you'll place your bets, and how you'll get them. That way, you won't be letting yourself down by overspending on a win and leaving yourself in an impossible situation.
If you follow these simple steps, you'll be well on your way to building a good poker fund. Once you've got your money under control, stick with it. If you ever get down to the point where you can't keep up with your poker income, you may have to change your strategies or get a little help, but that's all it will take. to build a strong poker fund and a solid plan for managing your poker earnings.
