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Stop Waiting To Manage Your Money… The Habit Is More Important Than The Amount
At my Millionaire Mind Intensive course, and in part of my book Secrets of the Millionaire Mind, I teach a very effective money management method called the JARS system.
Basically, using this system, you split your money up into six different accounts, and you have percentages of your money to put into each account. You can use bank accounts or actual jars.
So what are these jars and what percentage of your income goes into them?
1. Put 55% of your income into NEC or Necessities: rent, food, gas, bills, etc.
2. 10% in Long-Term Savings for Spending, otherwise known as the rainy-day fund. Or maybe there’s a car or some other big-ticket item you want to buy. This fund is your most flexible in terms of what you can do with it, but the intention is to do something with it, or that it be there for that just-in-case scenario.
3. 10% for Play. This is for leisurely expenses including sports, movies, general activity and entertainment. Make to sure to spend ALL your play money each month spoiling yourself!
4. 10% for Education. Books, courses, mentoring, coaching, etc. Always educate yourself.
5. 10% for FFA or Financial Freedom Account. This is for investing or anything that is going to make this portion of your money work for you toward passive income streams.
6. 5% for Giving. It’s spiritually, ethically, and morally sound practice to give a portion of your earnings toward causes that can use the funding to educate or somehow better other people’s lives.
A lot of people say, “I’d love to do that, but I can’t do it because not enough money is coming in” …or “My expenses are too high, there is no way I can do these percentages.”
If you’ve been with me long enough, you know what I’m going to say to that, yes?
Am I saying you have to put $1,000 into your accounts every day? No, I didn’t say that.
How come I’m not suggesting a specific amount but certain percentages? So that every single person, regardless if they’re earning $100,000 a week or $1 dollar a week, can do the system. Yes, if you are earning $1 dollar a week, you can do this system.
The habit is much, much more important than the amount.
I don’t care if you’re managing $100,000, $1,000, $100, $10, $1 or 10 cents. All that matters is you manage whatever money you have.
A lot of you right now are thinking, “I’m not earning a lot of money. I don’t even know how I could do this.”
At the Millionaire Mind Intensive, you’ll hear a story about Michelle Burr. She was broke when she came to the course.
She said the money management portion was the thing that resonated with her. She didn’t know how to manage it, and she didn’t have any money to manage.
What did she do? She took $1 and divided it into nickels, dimes and pennies. She put them into the six different jars I recommend. She had 10 cents to play with, so she went to the store and bought some bubble gum. She read the comic in the bubble gum and laughed. That was as much as she could play with at the time.
She saw that it wasn’t going to be enough, so she made it a point that every week she was going to double the amount she was putting in the jars. The first week she put in $1. The next week she managed $2, and so on and so forth. Twenty weeks later, she was managing $100.
Here’s the thing. The way the universe works is if you manage your money, you will get more. If you mismanage your money, you will not get any more.
The fastest way to do well with money is to manage the money that you have well. Just show the universe you know how to manage $1. Then watch what happens in your life. Miracles do happen.
Don’t give me the BS of, “I don’t have any money to manage.” That’s the way broke people talk.
Fast forward. Let’s see how Michelle is doing today. She is a self-made woman. She never gets a dime from anybody else.
Michelle has made many investments in real estate and other things. Michelle is a multimillionaire today. It wasn’t very long ago she was managing $1.
Don’t give me any bs about how you can’t do this.
Decide right now: are you going to get 6 jars and start managing your money today?
Let us know. Declare your intentions to the universe that you are going to turn your finances around right now and let us know how it’s going. We want to hear from you!
The Rich Life Club
“The World’s #1 Support System For Creating Wealth”
Inside you will find teachings from T. Harv Eker on exactly how to follow the JARS system plus much, much more.
For Your Freedom,