Definition

Money Management is a set of techniques used collectively to form a plan that enables a player to properly adjust and successfully control the amount of money waged while gambling.

Set funds, and keep them separated. Set an amount for an entire gambling session, or for each day of your trip or during each session. When you lost all your money for one session do not take money from the next fund.

Goals

Set a goal (for example that you will double your buy-in amount) and stop gambling after reaching your goal. As longer you stay in a game after having reached your goal as more likely the casino will beat you down. 

Stop-Loss Limit

Set a loss limit of 50% of your session funds. Example1: You start with $100. When you get down to $50, stop immediately. Example2: You start with $100. You get up to $200. When you get down to $150, stop immediately.

Separate Expenses

Set aside the money for all other expenses like, traveling, eating, drinking, shows, fun etc.

Bankroll

Set aside an amount to gamble with. This amount might determine what games you should play, what bets you should make, how big your bets should be, and the amount of time you can play. Never ever supplement your bankroll with any other monies once you have settled on an amount (borrowing money).