Chapter 6: Money and bankroll.
There are hundreds of thousands of bankroll strategies out there which will help you to effectively (or ineffectively) use your poker bankroll. In this chapter I’m going to throw some psychological ideas towards you, which might help you together with the other bankroll strategies.

I believe that you need to have a good money philosophy, before you can handle the bigger bankrolls in poker. In real life when you receive your money from your work: Are you capable of saving money, or do you spend it on gadgets and ‘stuff’ which you don’t necessarily need? If you can’t save money when it is still in small proportions, how can you expect to save money wisely once you get a lot through poker?

“If you can’t save money, the seeds of greatness are not in you.” – W. Clement Stone.

Become a saver when you have little in order to prepare you for later. Start by saving a % you can afford to put by every month and do that as soon as you receive it without having the potential of touching it.

Why would you save money, you may ask. I want to buy an iphone and a television with my hard earned money. That is your full right! However here are some reasons why you should reconcider.

1) When you don't adapt the mentality of saving now, you probably won’t ever until it is too late. Many many people that are working are broke. All they can think about is being broke and have the fear of losing their job or getting a blow. They can’t afford anything. Imagine being broke when you are 60-65 years old. I wish you the best of luck.

2) The law of attraction. The more money you save up, the more money you will get. Investing it good can make you fortunes! Wages only make you a living day by day.

3) We are being manipulated by the media and our consummation society to buy, buy and buy new things. Reconcider and find joy in having money aside. Once you and that number grows bigger. The spenders will grow jealous of you and not of your new products.

4) When you got no money and a life’s opportunity passes you by. What are you going to do? Make empty promises and look foolish, just because you don’t have any money.

5) Having money gives you a sense of calm; imagine how this can benefit in your poker game. 

If you think about this, you might even recognize that what I just stated here is actually applied in bankroll strategies. Let’s say that variance is the fluctuation of the market. Every pot you win are the wages you receive and every pot you lose are the expenses you make in the market.

The moment you risk going in dept and losing your entire bankroll should be avoided at all costs. When the bankroll is small, the only reason it doesn’t bother you is because the value of that money in the real world means nothing. But when your bankroll grows towards bigger numbers than your wages cover in real life you will feel like a big fool losing it.

So bankrollmanagement in essence is there to avoid that from happening and being money conscious. In poker your bankroll has to grow and so should your real live bankroll.

Challenge 10: Search and fully apply a great bankrollmanagement strategy. Use an effective money saving strategy in real life aswell. Start by saving 1% for everything you earn. You won’t even notice it missing. In no time it’ll grow to 5% and higher. See it as a game.