World's Easiest & Most Effective Money Management System
Millionaire Mind Intensive: The Jars!
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hey what's going on everybody TJ here
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and I wanted to explain something to you
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guys called the jar system so Tori and I
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had spent this past weekend up in North
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Jersey at an event called millionaire
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mindset intensive and it was an awesome
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three-day event I believe that I should
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have started by T Harv Eker which if
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you're not familiar with who that is
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he's a personal growth speaker author
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entrepreneur helps a lot with business
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and business strategy so he has the
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system called the jar system and they
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call it the world's easiest and most
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effective money management system so I
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mean um you're just learning trying to
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figure it all out myself and I thought
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that this was something really awesome
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so I wanted to share this with you so
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that you can utilize this as well so in
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my workbook here if you can see says
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it's the world's easiest and most
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effective money management system so
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what you want to do is whenever you
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receive your check right whether that's
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cut by your job or if you're
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self-employed you call yourself your own
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check and you want to always pay
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yourself first and put ten percent into
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an F FA your F FA is your financial
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freedom account right this is your
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golden goose as they were calling it at
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the event this is what you want to be
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your investment or some sort of passive
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income stream so it's laying golden eggs
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and you want to keep adding to that so
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eventually you're able to live passively
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off of that income so 10% of your check
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goes into your financial freedom account
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or your financial freedom account jar
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right it could be either a physical jar
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or it could be an online jar okay and
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that's like if you have like whatever
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your bank account is you can make sub
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accounts and turn them into your jars
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and I'll show you a screenshot in a
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little bit showing mine because I just
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set mine up online so first is your FFA
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right and 10% goes into that your
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financial freedom account a major point
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is that you never you never take out at
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this account right you never not for an
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emergency
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for anything all right you never take
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out because then that is killing the
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goose all right
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you always want to keep in whatever you
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put in eventually you're gonna be taking
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out your trickle right of whatever that
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the passive income is right because
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you'll be collecting interest on that
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you can take that out but never ever
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take out anything that you put into your
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financial freedom account so that's your
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first star your second jar is your
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long-term saving spendings okay and this
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could be like a car your house a
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vacation a bow a yacht or even like a
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television you know anything anything
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that's your long-term saving spending
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right I was listening to the program and
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it said that a really good one for
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people who have credit card debt is to
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use your long-term savings to get out of
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credit card debt right so 10% goes into
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this jar your long-term savings
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spendings jar okay and what you want to
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do is you want to be specific this is
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like Law of Attraction work you want to
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visualize you want to write down exactly
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what you want you know if you want a car
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you want to be you want the 2018
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Mitsubishi Lancer Evolution taking a
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video game okay hold on Tory has a
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walk-in so I'm gonna cut back to this
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injustice sack all right so we were
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talking about the long-term saving
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spendings accounts so yeah you're gonna
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have more than one as well it doesn't
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have to be just one jar with 10% going
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into it like if you have like you have a
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television and you also have a car on
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your long-term savings you can do 5% to
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one and then 5% to another or if you
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have like more than that right you have
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like five long-term savings accounts you
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can have 2% 1 2% 2% 2% 2% right so as
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long as you're doing 10% so your
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long-term savings you can split them
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into as many jars as you would like so
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10% goes into that the third jar is
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education
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and they made it a point that it is your
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education not your children's not
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anybody else's this is for you this is
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your education 10% goes into your
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education jar and you can use that on
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courses books audios going to seminars
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things like that whatever you want it to
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be and of course it can be about money
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but it doesn't have to be like if you
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want to learn karate then put it towards
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that it's whatever education you would
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like to improve with write whatever you
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want to learn so that is your education
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jar and it's not for anybody else but
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you right so the next jar is your
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necessities okay and this is like your
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gas your car or your your rent your food
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clothes things like that fifty five
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percent goes into your necessities jar
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all right so fifty-five percent of that
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check goes towards your necessities the
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fifth jar is your play jar and that's
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just for you to go and have fun with ten
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percent goes into this jar and you want
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to be spending it at least once a month
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right so you want to reward yourself you
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know you're managing your money properly
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and you're making money at that you know
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you're providing value you're helping
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people out so you got to reward yourself
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so this is that jar for that this is
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your play jar you spend it on you right
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10% goes into this play jar you spend it
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once a month if you don't want to and
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you want to save it just for something a
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little bit bigger right maybe you got
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something really cool mine's then three
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months at most is what they recommended
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right you don't want to hold it for
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longer than three months so try to spend
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it once a month three months at most all
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right and the final jar is your give jar
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right and the remaining five percent
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goes into this give jar and that's what
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you're doing for your buying people
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gifts or you're donating it to charity
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or anything like that you know so you
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want to be helping people out right it's
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good to be generous and if you're being
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blessed enough to earn some sort of
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income
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then you should be sharing a little bit
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of it at least you know you want to be
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generous so 5% goes into your give jar
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right so that is the what millionaire
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mind intensive calls the world's easiest
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and most effective money management
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system little recap is 10% isn't your
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financial freedom account 10% into your
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long-term savings 10% into your
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education
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55% into your necessities 10% into your
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pledge arm and 5% in to give jar all
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right and here I'll shoot you a little
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screenshot I just made this account
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I left my bank I was with Bank of
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America and I decided that their monthly
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maintenance fee wasn't worth paying for
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so I switched to a different bank and
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here's a screenshot of my new jars so
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this account is just opened I don't even
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have the debit card yet so there's only
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five dollars in it right now
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but as soon as I get my debit card I'm
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gonna start switching my jars over to
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online it is your choice if you want to
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do it online or if you want to do it in
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person yeah so I hope you found that
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information helpful and I hope that that
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serves you well here's a little secret
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bonus that we got from the event I don't
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know if I'm supposed to be giving this
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information out because I was attended
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this event and I'm sure not everybody
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who watches this video is seeing it but
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I want to help you guys out so here's
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this little secret bonus if you go to
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success resources america.com
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slash jars there's a one-hour long audio
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clip on there and it'll answer a lot of
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questions very in-depth so if you have
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any other questions and you want to
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learn a little bit more about the jars
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go visit that link and listen to that
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audio and you should be able to help you
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out so yeah if you like this video make
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sure you put a like on it comment down
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below and tell us what you thought and
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if you want more information similar to
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this make sure you subscribe to the
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channel and always remember the world is
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all yours
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