Being excellent at money management is a crucial part of being a solid winning player at pokern. Unfortunately, losing players typically struggle financially as they cannot separate their life roll from their bankroll. By having a clearly defined bankroll and managing it as you would manage a stock portfolio, or some other investment autonomous from the rest of your living income, you can play properly and live comfortably.

The first step is to never over extend yourself, both on the table and in real life. Never put more in play than you can afford to lose. Define this however you wish, however, make sure that you at least leave yourself six month’s living expenses at any given time if you partake in gambling, either recreationally or professionally. By following this rule of thumb, you will ensure that you always are comfortable in life, even if you suffer a big loss at the poker table.

Conversely, never take more out of your bankroll than you need to play properly. Do not leave yourself short-stacked as the result of a frivolous purchase. Money is the tool of your trade, and it is capital you need to generate income, so only withdraw from your bankroll what you can afford to. Always try to leave yourself 20 buy-ins to whatever level you frequently play at. If you take shots, only take them with profits, so that if you lose, you aren’t behind.

By following these simple rules of segregation and management, you can insure that no matter what life throws at you, or what cards the dealer pitches to you, you will always be comfortable and in a financially manageable place in your life. Setting rules and following them regardless of the situations you are put in will result in you having a framework from which to work. In a highly variable game like poker, swings are expected realities, and if you prepare yourself for them, you can be in the position to weather them and recover successfully, and remain a winning player in poker.