2016 Challenge or saving 12k$ in remaining 9 months
I have really given a lot of thought into how to design the whole challenge since I will be dedicating 9 months of my life to it. There were a lot of doubts regarding time frame, daily and monthly volume, studying and reviewing times, number of tables for multi-tabling, whether to use HM2 or PT4, time set aside for all the other things going on my life etc. In the end I landed on initial target which is to save 12k$ by 1st of January 2017. I will now talk about two key areas when it comes to saving and making this money and address ways how I plan to approach them.
Guitar and Music Lessons
i am very happy and excited how things are going with my students. In previous 2 weeks since I came back from Boston USA, I have been teaching on average 10 hours per week. This average allows me to pay my monthly expenses here in Serbia and save on top of it money. Starting April, I will put money aside on special account from guitar and music lessons. The way it will work is following: Needed money for the monthly expenses will be withdrawn as it arives from different payments and every payment on top of that will be transfered to a different account which will be used for saving money. I will also update in the blog each month how much money I saved through guitar and music teaching as this challenge is about saving 12k$ and not related to going to 30s or anything like that!
Here are now rewards when the each month is finished!
For every 100$ that I save from teaching, I will reward myself by going to see some movie in the cinema. For every 250$ saved from teaching I will reward myself with my favorite meal in the restaurant. For every 500$ saved from teaching I will treat my dad and friends in my favorite restaurant. For every 1k$ saved from teaching I will take a day off and go for a full relaxation in spa. For 2k saved I will buy some additional music equipment for my lessons. For 3k saved I will go out and party hard with minimum 1 girl and more likely with 2 or 3. For 4k saved I will go and schedule laser eye surgery appointment. For 5k saved I will schedule dentist appointment for adding a tooth.
With current teaching hours I can expect to save up to 5k$ (realistically 3k!) in next 9 months with fixed expenses as they are now. Of course with more students I will have more hours therefore make and save more money. On Monday another student should start so I am working towards adding 3 more students and closing the doors for the time being!
These rewards will be also transferred to poker accomplishments and I will add some more things with poker savings such as taking my favorite girls out to a perfect date and starting to save for investing and starting to invest! Also every time I make 2k post RB on 7$ limit I will take 10 buy ins and reward myself to take a shoot at 15$ limit.
Poker
Area which I am sure interests most of you more especially how I decided to approach the challenge for poker and follow up on it. Without talking too much about it, here are the most important numbers for poker part of the challenge.
36000 games or 4000 games per month average
3 tabling in the beginning (April) and during the challenge increasing the tables to whatever feels comfortable to keep high cEV and win rate
120 hours per month set aside for grinding in the beginning or 4 hours per day on average but with multi tabling increased I will go down with grinding and dedicate time to other areas of life
Using PT4 instead of HM2 and using my 2 favorite HUDs that I used for SNGs in the past
Reviewing and studying with elpsycho 15 hours per month on average
Playing 7$ limit and aiming for 60 cEV per game or 4.1% pre RB ROI
FAQ for the challenge
How long will it last?
Challenge stops from the moment I manage to save 12k$! It means that I can bink some spin and end it, save using both teaching and poker - whichever way I save 12k it is considered completed.
How will savings be tracked?
I have already set systems that focus on money that I earn as well as spend and there are systems set for savings as well. They consist of me entering whenever I get or spend money how much went where. From these systems I get precise amount how much money is left and based on it I will put the numbers together and share them here once a month. For poker I will use Stars coins each month to cash them + use PT4 each month to show profit pre RB and then list that number for total money saved. Remember, I already pay my bills with teaching, poker profit will go directly to savings!
Why set 36k games for spins?
Several reasons. 1) With such volume I will be able to reach SN which means from next year better RB if I decide to continue grinding this or any other format of poker. 2) With such volume I have better chance of running closer to my expectations but also getting the chance to play and win those higher multipliers. 3) With such volume and expected win rate that I have set, I will be able to save 12k entirely from poker, without relying to save any money from teaching. In a way, I have set higher goal then needed for poker to motivate me to work on my game during the challenge and to possibly by the end of the year thanks to it and teaching save over 12k!
Why not play some other format like turbo SNGs?
This is definitely valid question but I decided to make things more difficult and prove to myself despite things being hard in poker economy and world that I can be profitable player on a very variance heavy format such as Spins. Also, turbo SNGs barely exist for volume + table selecting for them is not as possible as before and that kills hourly in more ways then one. Also, I like to always push and challenge myself and Spins are definitely right direction for me!
How often will updates happen and what will they consist?
I will do daily updates with graph from PT4 that shows number of games with cEV, ITM and ROI as the most important things for time being. I will also share another screen shot that shows number of hours grinded also from PT4. At the end of month I will post a monthly graph with this info + actual profit/savings accomplished. For teaching I will at the very end of the month add how much money I managed to save!
What about other life things, will they be included in updates?
As usual, I mention my life things in updates so you will be updated on how my mourning routine developes, on eating healthy and hiring cook and cleaning lady all the way to spending time with my family and friends on weekly basis.
Will there be some other things counted towards challenge?
Absolutely! If I decide to perform, do webinars, accept poker students and such, as well as start investing, all the money from such things will go towards challenge as well.
What will you do once you save 12k?
I will go to the bank with my dad with huge smile on my face and pay that mortgage in full. After that I will go to the apartment and just look at it and enjoy the fact that it is finally owned by my dad now and that he is debt free! I will then start saving for some other things that I consider important in my life but I will talk about that challenge when time comes for it! I will also consider taking a vacation and treating myself well for a month.
What happens if you don't save 12k by the end of the year?
I will feel sad for 5 minutes that I didn't manage to do it but right after that keep my head high and keep pushing however long it takes to save 12k$ which with current systems set in place, work habit and persistence should not take very long!
Final notes on challenge
I think the challenge is very realistic and knowing myself and how capable I am to work hard and push the envelope of pain I am 100% positive that I will complete it in 2016. It doesn't hurt to say but thanks to teaching I will decrease my variance for it. Also by decreasing tables from 6 to 3 now, changing from HM2 to PT4 and using my favorite HUD's I will definitely increase my expected win rate. Finally, I am not going to let challenge affect my regular life. I will still see my family and friends, watch Netflix as I grind, go out to treat myself, study and provide maximum value for my students and keep improving my knowledge and service to the people that I serve.
Challenge officially starts tomorrow so good luck me I guess and see you at the tables!