I don't believe in just giving her money.  I believe in her earning it.  About a year ago we started to provide her with a weekly allowance.  For her allowance she would have to do 2 things, clean the cat litter (we have 2 cats) and keep her room tidy.  Over time we can increase her allowance but we also increase her chores around the house.  After all, I don't want her thinking she's living in a hotel !

If there is one area that I think our school system in Canada is lacking it is some sort of basic financial training.  Something at the grade level, say 7 or 8, before they reach high school.  I always thought they should teach financial basics such as what a credit card is and how it operates, basic interest rates and how they work, the different types of bank accounts and loans there are ... you get the picture.  Just the basics so they start to gain a healthy appreciation for the true value of money.

The same can be said for learning bankroll management in poker.  You don't want to be constantly having to put money into your account.  The poker sites would love that but for us players, we want to be making withdrawls right !!

In December/08 I wrote a blog called ‘your bankroll: a different view'. I invite you to check it out.  In it I talk about realizing your poker profit.  Don't think you always have to be bankroll building.  It's like owning shares in a publicly traded company.  The shares reach a new high and you hang on because your excited and you think your going to make even more money.  Of course the stock falls and you sell before you lose to much.  You see in the stock market your suppose to buy low and sell high.  Pretty basic right !  I can tell you from personal experience it doesn't always happen that way.  I would say most people buy high and try to sell higher.  The stock usually falls off and there selling at a loss because they've waited to long.

In poker you have to play within your means.  In other words play with money you can afford to lose.  If you find yourself having to reload stop right there.  Figure out why you are reloading.  I know I know you are reloading because there is no money in your account, ha ha.  Your question should be how did it get that way ?  What happened to cause you to lose ALL your money ?  Analyze your game and look at your bankroll at different points before you had none.  Were you dropping down in buy in's when you were losing ?

For me I deposited $50 at the beginning of 09.  Whenever I go below $50 I drop down to a lower buy in level and play there until my bankroll goes north of $50.  Then I consider moving up to the bigger buy in events.

For each person it is different but you must be disciplined enough to set your own financial policy ... and follow it !!  That is, when your bankroll falls below a certain level you must drop down a level or 2 in the amount you can afford for tournament buy in's.

Learning how to manage your personal finances can be a challenge.  Managing your poker bankroll can be a challenge.  If you have the discipline to learn both and keep to your plan you will most certainly realize the fruits of your labour !