Find your Financial Freedom
We have learned many ways of how to save money, but always happens? Mmm, we like a new iPhone, Television, Shoes, Clothes and so on. So almost follow through. Let me share one of the amazing JAR Methods of Mr. Harv Eker. Written in his book the ‘Secrets of the Millionaire Mind’.
It’s about how to save a great amount of money with a normal salary like most of us receive. We have heard many times, that people can’t save any money.
Why is that? Because everything is so expensive or we really don’t need a 90% of what we buy?
More about the Jar Trick
You will need six Jars, Bank Accounts, Envelop, wallets, whatever suits you best. Each item will hold a percentage of your Total Income per month.
It’s important to hold yourself accountable and stay disciplined. Remember yourself on a daily basis the importance of what you want to achieve. Sometimes it helps to share the goal with Family, Partners, or friends. It will become harder to fail. Never forget for who you are doing it!
Nobody is as powerful as you, start your days remembering it.
Having the ability to save money at the end of each month is not only possible with a higher income. Harv Eker explains that in his book ‘secrets of the millionaire mind’. Now with the crisis provoked by Covid-19, many will have to grow from zero back to find financial stability. A lot of Families have to find extra Jobs, just to get by and not create more debts. Therefore, there isn’t a better time to take this Jar method seriously. It’s easy to get educated about financial improvement, but again it depends solely on you if make it.
if you are interested in making that change or keep improving we advise you to read this incredible book.
Calculate your Percentage of each Jar
Let’s break down how much each Jar should hold.
- NECESSITIES = 55% of your Income
- LONG-TERM = 10% of your Income
- PLAY = 10% of your Income
- EDUCATION = 10% of your Income
- FINANCIAL = 10% of your Income
- GIVE = 5% of your Income
- Necessities include Rent, Food, Electricity, and Bills.
- Long-term spending includes Big Purchases, Rainy day Funds, Vacations, and Unexpected medical expenses.
- Play is my favorite one! Includes Spoiling Yourself & Family, Leisure Expenses. Has to be empty every month!
- Financial Freedom Jar (Account) includes investing in stocks, funds, passive incomes, real estate, and other investments.
- Give includes Charity donations.
It doesn’t matter how much you make, but how disciplined you stay! If your Necessities are taking all of your money, maybe you should act on them. We all live above our paygrade, that’s a fact. Change that and you will eliminate one of your excuses already.
How Patience can be your best friend
“Patience, persistence, and perspiration make an unbeatable combination for success.” Napoleon Hill
Harv Eker points out that many people get cold feet. One of the causes I already shared before is using excuses. The number excuse is, I don’t make enough money or I will do it later and on and on. Let me tell you that what you leave for later will NEVER happen. If you interested and want to change your financial situation, then stop looking for excuses. Start with investing in yourself right NOW. Read and get Educated more about Financial Freedom. We share the link to the book we think is IMPORTANTE to read. You can or not buy the book, but please stop making excuses.
“Patience is a key element of success.” Bill Gates
Patience is one of the more important skills you can learn! I don’t mean by being patient; stay seated and wait for something to happen! What I do mean is keep investing in yourself and ideas, don’t quit at tougher times. Become stronger and find out what isn’t working, listen & read important critics. The learning path will never end. Don’t waste time on haters and keep surprising everybody around you!
Good luck and please share your improvements with us.