Are you usually in the situation that you are saving money but your car needs new tires, your laptop needs to be fixed, your kids want new toys, and saving again takes a back seat? Yes, it is normal when you don’t have the right fiscal tips. It’s time you start smart spending habits and get on more solid financial footing. Let’s discover the simple T Harv Eker 6 Jars Method to master your finance with little effort.
Why Should You Start Doing The 6 Jars Systems?
“If you show the universe that you can handle the amount of money given to you right now, it will give you more. If you mismanage your money, you will not get any more. Why should the universe give you if you cannot even handle the money you have right now.” This is just a way to say out loud the reason why you should control your money flow but that is where all the spiritual comes from. In the middle of myriad ways of controlling money flows out there, the 6 jars would probably be one of the best choices!
T Harv Eker 6 Jars
Everyone from adults to young and kids can easily access this method in several ways. The 6 Jars System was developed by T. Harv Eker in the well-known book “Secrets of a millionaire mind”. Up to now, it’s been a really common method to solve problems relating to money management. It’s also been witnessed to work effectively with several people.
According to Eker, you start by taking your income and split it into six different jars based on the following percentages:
55% of your money goes towards the necessities jar which is for purchasing things such as food, rent, electricity, and recurring bills.
10% of your money goes towards long-term savings for a spending jar that will allow you to spend for things like your rainy-day fund, big-ticket purchases like a new car, vacations, paying off debts, and unexpected medical expenses.
10% of your money goes towards the play jar as Eker puts it or the fun and entertainment items such as spoiling yourself or your family and other recreational activities.
10% of your money goes towards an education jar which can be used for expenses such as school but also coaching, mentoring, books, and things like online courses.
10% of your money goes into what Eker calls the Financial Freedom jar and obviously, that goes towards things like stocks and mutual funds, bonds, passive incomes such as businesses and side hustles, real estate investing, and merely any other forms of investment you can think of as long as it helps you achieve your own Financial Freedom.
The final 5% of your money goes towards the giving jar which is apparently for charity, a friend, or a family member in need.
T Harv Eker 6 Jars and the 6JMM App – Your Greatest Money Assistants
The best way for everyone is by using the 6JMM app (6 Jars Money Management)!
In my opinion, this is really a great Money Management System as it covers most aspects, if not all, of how one usually spends their money. It is so amazingly simple, yet profound, method of better managing your money, regardless of how much money you already have!
It can work for people who never save their money, or for people who need to give to feel a sense of contribution to others/society, for those that need to learn and grow through learning, for anyone who just needs a little more help in managing their money.