Managing money and making ends meet when you’re on a low income takes careful organization. Even when your earnings are enough, it’s still a must-know task. Smart expenses and smart savings will assist you in achieving a desirable life. To help you master this skill, I’m going to share with you the most efficient tip ever: the 6 Jars of Money.
Why Should You Know how to Save and Spend well?
People easily fall into financial stress with the thought “I’m not making enough money” and “My expenses are too high”. However, the real problem lies in the way you save and spend.
Though the life of most people gets stuck between nine to six working hours, they cannot be able stop worrying about money. Usually, there are kinds of worries about money getting varied based on person to person, such as:
- Some try to make months meet and fails.
- Some cannot be able to plan their vacations properly or unplanned vacations.
- Some kept growing their debts bigger and bigger which leads to allocating higher part of income in paying interest for their debts.
- Some cannot be able to buy things they want either in the middle or end of the month.
Their problems would not get solved even if their paycheck doubled because their actual problem lies in the lack of money management. That’s why you had better master the skill.
6 Jars Of Money – The Finest Way to Spend and Save
As revealed in the well-known “Secrets Of The Millionaire Mind” of T.Harv Eker, this magical 6 Jars System leads you to your financial freedom in the fastest and easiest way. It is also a relatively simple concept that everyone can understand and apply, that’s why it’s such a popular way of controlling money flow nowadays.
This system requires you to divide your money into six different accounts or jars containing certain percentages of your income. Specifically, they are Necessary Accounts (55%), Financial Freedom Account (10%), Long-term Savings for Spending Account (10%), Education Account (10%), Play Account (10%), and Giving Account (5%). Every one of these jars is essential and you should put your money into them as the following percentage, regardless of how much you earn. Over time, you will watch them continue to grow on your journey to financial freedom.
Want to feel more in control of your finances?
If so, it’s time for you to dive into this 6 Jars of Money Method and apply it on a daily basis. Anyway, the first steps are hard, and keeping healthy habits on track is not easy. Fortunately, I am here to help you out!
The 6JMM App is always available for you to try out! It’s the latest app developed by our team, Alan Al Voice Lab, with the enthusiasm to assist users in managing money and maintaining their wealthy lives.
Step by step we can help you cut your spending, develop core saving muscles, and create better habits for the future.
Download the App today and get your financial freedom tomorrow.