Figure out what poker table you’re at

The principle "Figure out what poker table you're at" is an analogy from the world of poker that can be applied to financial management and investment. In poker, a player needs to be aware of their chip size and total stack, as this determines their betting strategy. Similarly, when it comes to making financial decisions, it's important to understand your overall financial situation, including your assets and liabilities, your income, and your expenses. This knowledge will guide your decisions on how much to spend on experiments and investments. By understanding your financial position, you can take calculated risks and make informed decisions, increasing the chances of achieving your financial goals.