Isn’t it ironic that sometimes, you have money burning a hole in your pocket but it just seems there are no decent deals on the reseller market? The same way, the exact opposite can often happen: you can come across lots of great deals but at that very point, not have enough liquidity to go through with them.

Domaining and investing in general, is an art more than an exact science.

The art of capital allocation.

Therefore, money management plays a very important role.

In my country (and I assume many other cultures as well) we have a saying that kind of goes like this: a smart person should buy a carriage during winter and a sledge during summer.

You get the point.

One of the most important things about money management is seeing the big picture as opposed to simply focusing on the present.

Whenever there’s a deal that requires your attention, think about it from all sorts of different perspectives: don’t assume you should always buy even if the deal is only so-so because that erodes your capital. On the other hand, you shouldn’t visit the other extreme and say no too often thinking that there will always be other similar deals to choose from.

I’m sure I don’t need to write a novel about something that can be summed up in a few sentences:

Don’t underestimate the importance of money management.

Don’t be too aggressive as a buyer but on the other hand, don’t be too shy/scared either.

Always see the big picture, don’t just focus on the present.