I'd really like some pointers on how to handle my BR. Up until now I have had to live off my poker winnings, but from this month my unemployment insurance have kicked in, and it more than covers my expenses. So finally, I can let my BR grow. Up until now I have been leeching it relentlessly, so it's currently at a measly $250, but my win/rate at my level ($20) is very high (40bb/100) so I'm expecting it to start growing.

Now... what should I be doing with it? Do I need an internet bank account? Is NetTeller any good? What about Bonus Whoring, is it worth it? Should I just leave the money on the poker site? Can I invest it over the internet into something that yields a profit so it doesn't just sit and rot?

I've always been absolutely terrible with money... terrible. Could use some advice.

If it's not something you need immediately, I have to recommend ING Direct. 3% yields and they move money back and forth within a few days. No risk, no problems.

NetTeller is ok, but they don't pay any interest to my knowledge. Both NetTeller and ING delay transfers by a day or two (5 bus days for NetTeller), but they are reasonably safe vehicles.

Hey Stone
Regarding investing over the internet...I can only assume you mean some sort of interest bearing account...Nope, and even if there was, with short term rates as low as they are and considering the amount of cash you have available, it would not amount to anything anyway.

Regarding Whoring---Most (but not all) sites will require you to play 1/2 limit or.50/1.00 PL or NL, which is really high given your BR. Whoring works, it really does, but is boring as hell---as close to drudgery as it gets. The sites that have lower requirements to clear bonuses take FOREVER to clear. I have 1000 bucks in pending bonus money at UB that I may never get to.

Others may have different ideas, but I would keep playing your best game at your favorite site until you get at least 600 +/- and then maybe look into chasing the bonuses.

Hope this helps

B

PS the first step to having better money management is to realize you suck at it. Start thinking about it more often, and quite simply, don't do silly things with your cash. It's not rocket science, but in my opinion, it is AT LEAST as important as knowing how to play (winning) poker. Lot's of great players are out there looking for a stake...

ING Direct - Sounds good. More info?

NetTeller - Not as good as ING, gotcha.

Investing - Pointless, roger.

Whoring - Skip for now in favor of playing well.

Realising I suck - Check.

Tamagochis - I never liked them.

Play the most profitable game - Doing that (mostly).

Stay away from MTT - Doing that (mostly).

Don't multitable - Why the heck not? I play 4 tables and average over 30bb/100 the last 25k hands. I'd probably do worse playing fewer tables because boredom tends to make me make loose call and overplay.

I am with you Stoneburg. If I had to play just one table online I would go crazy!!!! Sometimes it gets soo slow. I like playing 2 - 3. It keeps me constantly doing something.