Budget

[Paydirt]

Just a question from a noob. 
Do you have a monthly budget. If you do, and you would share it, how much is it per. month? 
 

Thanks in advance. 

[Mark10110]

2 minutes ago, Paydirt said:

Just a question from a noob. 
Do you have a monthly budget. If you do, and you would share it, how much is it per. month? 
 

Thanks in advance. 

my advice don't base your own budget on others budgets or you will feel you arn't part of the group.

Its the same with unboxing videos, When i do an unboxing I worry people look at what i get and feel like i am showing off and then theres unboxings I watch where I wish I could get what they want.

 

[Paydirt]

But do you have a budget? Or just bye when you like? 

[Mark10110]

3 minutes ago, Paydirt said:

But do you have a budget? Or just bye when you like? 

it is ever changing, when it was good to buy from the EU I would spend about £800-£1300 on silver but due to Brexit I am now going into gold, my first purchase plan was half oz per month but this month I just ordered a 1oz QB white lion.

If i have cash in the bank I will waste it on bad so I just put it into gold or silver (if i can get tax free) as a form of saving and also saving me from wasting money. 

When I was getting silver my plan was aboput 100oz per year but due to brexit i just went mad and got a total of 300+ oz 

[AndrewR]

It may be the boring stock answer but buy what you can afford. I enjoy watching what others buy and unboxing and good luck to them as they buy more than me. If only you can afford one coin a month enjoy it.

[Tickety]

I try to buy most months but my budget is modest, at this time I try and get 5oz of silver per month, some months I do a bit better and other months I need to give it a miss. 

[Tn21]

Personally I dont set aside funds per month for au & ag.

Its relative, as each individual has their own set of circumstances. I can however see the potential benefit of budgeting every month. You don't need to spend every months budget but instead allow it roll over to the next month to buy a higher priced item. 

[HighlandTiger]

I have no interest in what other people buy or how much. I buy what I can, when i can, and if i need to sell for a reason, then I will sell.  

[KitboyE17]

Yes I have a budget. Each month if I decide to buy something it must be within my budget. I don’t have to spend it all and I don’t have to buy anything if I don’t want to. That allows me to roll some of it over onto bigger items if the desire is there. My budget is also split over silver and gold. What I don’t have is a list of what-I-must-buys. I’m not a huge fan of unboxing videos only because I don’t find their presentation very interesting (no offence to anyone) - but I do like videos where forum members profile a coin or bar - they are far more interesting, insightful and educational. Whatever you do, don’t over stretch your budget or buy too much too soon.

[Draconicus]

I think there are not a true number, seriously! Every Month , I buy the max I can with out endanger my family life or any other economic responsibility! And acting this way the monthly budget it's never the same.

[tallyhojim]

2 hours ago, Paydirt said:

Just a question from a noob. 
Do you have a monthly budget. If you do, and you would share it, how much is it per. month? 
 

Thanks in advance. 

Perhaps you should allocate only a third or a quarter of your monthly disposable income as a  budget?

Never use all or most of your disposable income as it's a good idea to have a good amount of ready cash to access should something happen.

Say you have £300 or whatever your monthly amount is) each month after all (and I mean all) bills expenses etc are paid.

I would only spend £100 on PM's (probably silver), withdraw another £100 as cash and keep it at home, and keep the remaining £100 in the bank.

Use that formula each month and you'll quickly build up a nice little stack of silver, with a nice little reserve of ready cash. with a nice little pile of extra cash in the bank.

And you could even have limits of how much banked cash you want saved up, so that when your savings exceed that amount you can then spend some of that banked cash on more silver and gold. Who knows, you could end up saving enough banked cash to allow you to buy some land.

[SolidStateGamer]

9 hours ago, Tickety said:

I try to buy most months but my budget is modest, at this time I try and get 5oz of silver per month, some months I do a bit better and other months I need to give it a miss. 

Same here. I'm very new to stacking and my budget is also on the modest side. I started out getting 3ozt per month, but now I float around the 5-6ozt territory depending on the spot price. 

[tallyhojim]

1 hour ago, SolidStateGamer said:

Same here. I'm very new to stacking and my budget is also on the modest side. I started out getting 3ozt per month, but now I float around the 5-6ozt territory depending on the spot price. 

Even 5oz a month is still 60 a year, or 300 after 5 years. Either way, it's still a heck of a lot more than the average Joe Bloggs who thinks banks are a safe haven for their cash.

[Paul]

For Sake of Simple Maths just buying a sovereign a month

Your working life of 18 through to 65 = 47 years

x1 full sovereign per month = x12 per year stacked

x12 sovereigns times x47 years = 564 sovereigns 

564 sovereigns @ £300 (for sake of simple maths) = £169,2000 saved without really trying too hard or putting too much mental thought into your approach

[Ron]

I quitted smoking and save myself € 200 each month now. I want to spend that at Silver and Gold every month.