Quản+lý+tài+chính+cá+nhân

=Phương pháp quản lý tiền theo nguyên tắc 6 chiếc hũ= Cập nhật : 04:56 | 08/08/2015 http://m.vietnamnet.vn/vn/giao-duc/252196/phuong-phap-quan-ly-tien-theo-nguyen-tac-6-chiec-hu.html (Mình biết đến cái này từ anh Ngọc Anh ở Nghĩ giàu làm giàu, sau đó là Trương Đức Lượng gửi lại đường link này)

Có lẽ trong chương trình quản lý chi tiêu mình lập 2 ví chính: Cash & Tài khoản, như sổ quỹ chia thành 6 mục (catergory) (không chia nhỏ) như trên - cách dùng: để ghi nhập xuất vào 6 ví (ở dưới) sau đó mình nên lập 6 ví khác (tương đương với 6 lọ, sau đó có thể chia nhỏ thành các mục để dễ xác định và phân loại) - cách dùng: chia quỹ vào các ví này theo từng tháng và ghi các chi tiêu trong tháng qua các quỹ đó, cuối tháng "chạy kết toán" (=> 2 ví quỹ tương đương như sổ cái, 6 ví con tương đương như sổ phụ => mỗi giao dịch sẽ xuất hiện 2 lần => 1 trong 2 phải excluded from total, mình chọn phụ excuded from total)

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=== Bugdet Goal: Trong mỗi ví của ứng dụng lại thấy có các khoản - Saving: có Goal mà theo anh Tô Hoàng Nam: Theo anh thì em tính ra mỗi năm cần dùng bao nhiêu. Sau đó nhân cho 100 là số em cần. (Nhân 100, vì khi có số đó đem đi đầu tư an toàn mỗi năm sẽ được lãi 1%, đủ dùng mà vẫn còn nguyên tài sản. Nhớ tính thêm trượt giá. Đọc thêm về khái niệm "tự do tài chính" sách Cha giàu, Cha nghèo. (cái này thì mình chưa rõ lắm, lúc nào đó đọc thêm)) Mà theo anh Vinh số tiền 10,000/tháng là tạm ổn. Giờ mình đang chưa có đồng xu nào nên tạm lấy đó làm Goal đã 223,650,000 vnd * 55%= 123,007,500 *5%=11,182,500

*10%=22,365,000

http://www.smartaboutmymoney.com/manage-your-money-using-money-jar-system/

18. I RUN MY OWN BUSINESS AND I GET CONFUSED BECAUSE MY BUSINESS EXPENSES ARE MIXED WITH MY PERSONAL EXPENSES. ANY ADVICE?
Many business owners, especially those that are home-based, make the big mistake of tying up their personal finances with the business finances. I have 2 private coaching clients who had this issue. So, by the end of the year, both of them commented, “I made the money in my business but I can’t see the money in my banks”. Your business must be a separate entity. Each month, write yourself a paycheck and manage that money using the Money Jar System. You may not need all the jar categories. Some can be paid from the business and be deducted from the pre-tax profits. These can include (please check with your tax advisor) So, for your personal finance, you can have the following jars
 * FFA – Investments made using business profits
 * EDU – Course fees which can be combined with travel expenses
 * GIVE – Charitable contributions
 * NEC – Some necessities such as the car expenses, home office deductions, client entertainment fees, medical bills
 * LTSS – Personal holiday or big items at house, for example
 * PLAY – Your heart desires
 * GIVE – For friends in need that cannot get tax deductions
 * NEC – Personal expenses for home and living


 * || Tổng ||  || TÍNH CHẤT || ý nghĩa chính || sử dụng ||
 * > 1 || Ngỗng vàng >= ||> 10% || Bất khả xâm phạm & Nhận dư từ (2) & (3) || Tài khoản tự do tài chính || - Dành tiền cho khoản đầu tư khi cơ hội đến ||
 * 2 || Tiêu dùng ngắn hạn <= || 55% || Có thể tiêu ít hơn, thừa cho vào (1) hoặc (3) ||  || - Tiền cố định hàng tháng (đthoại, internet,..), hiếu hỷ, ăn uống ||
 * > 3 || Tiêu dùng/tiết kiệm dài hạn <= ||> 10% || Có thể linh động || Mua TV, smartphone,...,du lịch ||  ||
 * > 4 || Phát triển cá nhân = ||> 10% || Bất khả xâm phạm || Phải học để phát triển || - học hành (4.1), Bồi dưỡng (4.2), Làm đẹp (4.3) ||
 * > 5 || Cho đi = ||> 5% || Bất khả xâm phạm || Cho đi, không đòi hỏi nhận lại || - nên chọn những người, việc thực sự xứng đáng & cần giúp đỡ, kể cả cho vay mà khg hy vọng nhận lại ||
 * > 6 || Hưởng thụ = ||> 10% || Bất khả xâm phạm || Biết tiêu sang (chảnh), 1 mình || - 1 mình phải tiêu hết số tiền này mỗi tháng hoặc mỗi quý ||

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========================================================================================================= Should Reads: http://www.kuripotpinay.com/2014/03/6-jars-money-management-system.html http://www.harveker.com/2015/09/22/stop-waiting-to-manage-your-money-the-habit-is-more-important-than-the-amount/

You will notice that there are percentages associated with each Jar. Basically salary or income is divided proportionately to each percentage. This way your resolve to immediately breakdown to each Jar’s objectives accordingly and systematically.

There I’m done with the basic set-up. Now here is my personal take on the JARs System: My Salary is 15,000.00 php less taxes and other deductions.

Thus I have: NEC Jar --(8,000.00 php) FFA Jar --(5,000.00 php) EDU Jar --(500.00 php) LTSS Jar --(1000.00 php) PLAY Jar --(300.00 php) CHARITY Jar --(200.00 php)

You will now notice that I am not following the percentages. That’s another beauty of the JARs System, you can choose to go per mil and/or by hundreds*. The trick to my set-up is to ascribe to a lifestyle that is well within means but gradually change as one’s financial make-up improves. Take note that the 3 most important of the 6 Jars(NEC, FFA, LTSS) are all anchored with different deposit accounts with different interest rates**, and each is faithfully deposited and nurtured over the course of one’s career and lifestyle. The remaining 3 (PLAY, CHARITY, EDU) are all lumped together in one __deposit account__ only(or if you want, differently, just as the first three important Jars).**

So you want to go out on weekends, check your PLAY Jar, is there enough money? Yes it’s good as go. Then by all means GO! So you want to go out of the country, you want to avail of that travel __package__ to North Korea, I mean, South Korea. Check your LTSS Jar, are all expenses covered by it? Nope. Okay maybe sometime in the future, just keep on saving. Do you have enough to give out? Check CHARITY. As you live out the JARs system, you gradually realize the importance of saving, investing and planning for short and long-term events over the course of a lifetime. You will then enjoy how to be frugal at certain instances as you deem it necessary to cut back, and you will also remove guilt when you plan to mindlessly spend for a certain moment in time. You know which Jar to consume and until when. You give yourself a pat on the back through a well thought-out and balanced budget. It is hassle free. // THE WRAP UP //

<span style="color: #333333; display: block; font-family: 'Helvetica Neue',Helvetica,Arial,sans-serif; font-size: 14px; vertical-align: baseline;">There’s not much left to explain as I’ve said all the things relative to my experience with the JARs System. But I will leave out one last advice as a wrap up to the JARs System: “to live freely, one must manage wisely and timely”. <span style="color: #333333; display: block; font-family: 'Helvetica Neue',Helvetica,Arial,sans-serif; font-size: 14px; vertical-align: baseline;">*By budgeting in terms of thousands and/or hundreds. This is left to your own ingenuity on how you will and want to manage your money, you will owe it to your own knowledge of various financial instruments, insurance agencies,<span class="IL_AD" style="background-color: transparent; color: #dd3c42; vertical-align: baseline;">__investment__ companies and the like.

<span style="color: #333333; display: block; font-family: 'Helvetica Neue',Helvetica,Arial,sans-serif; font-size: 14px; text-align: center; vertical-align: baseline;">// (Written by Alex Anonymous) // Rất đơn giản, bạn hãy chuẩn bị sáu cái Lọ (có thể là két sắt hay tài khoản ngân hàng)- ta gọi là 6 cái quỹ tài chính. Mỗi cái Lọ có tên và chức năng nhất định. Mỗi khi có tiền (lương, thưởng, lợi nhuận bán hàng, hoặc bất kể nguồn thu nhập nào) hãy chia khoản tiền này vào ngay 6 cái lọ. Việc này cần làm ngay, tạo thành thói quen. Tên và cách dùng từng Lọ như sau: Quỹ NEC giúp bạn đảm bảo nhu cầu thiết yếu hằng ngày của cuộc sống. Bạn dùng quỹ NEC để ăn uống, sinh hoạt; vui chơi, giải trí, mua sắm và các chi phí khác. Xin lưu ý: Nếu hiện tại quỹ NEC của bạn ở mức trên 80% thu nhập, bạn cần tăng cường thêm nguồn thu nhập hay cắt giảm chi phí để đạt được tự do tài chính. Bạn cần quỹ LTS vì điều quan trọng không phải là bạn kiếm được bao nhiêu mà là bạn giữ được bao nhiêu. Bạn sử dụng quỹ cho những mục tiêu lâu dài, thực hiện những ước mơ của bạn. Xin lưu ý: quỹ này không phải là tiết kiệm tiền dành cho khi khó khăn. Bạn cần quỹ EDUC để rèn luyện phát triển bản thân mỗi ngày. Đầu tư tốt nhất là đầu tư vào việc học; “tầm vóc” của bạn càng lớn, bạn càng hấp dẫn được những thứ lớn, cho dù đó là tiền tài, danh vọng hay hạnh phúc. Bạn dùng quỹ EDUC để mua sách, đọc sách phát triển bản thân mỗi ngày; tham gia các khóa học, đào tạo, diễn thuyết; hay gặp gỡ, giao lưu để học hỏi từ những những người thành công.
 * Phương pháp quản lý tiền Jars chỉ bằng 6 cái lọ là một công thức nổi tiếng khắp thế giới cả trăm năm nay mà những người thành công đều đã áp dụng. Họ còn truyền lại phương pháp đặc biệt này để giáo dục tư duy triệu phú cho thế hệ sau.**
 * [[image:http://imgs.vietnamnet.vn/Images/vnn/2015/07/24/08/20150724085922-quanly.jpg caption="tiền, quản lý tiền, tiết kiệm, chi tiêu"]] ||
 * 1. Nhu cầu thiết yếu – NEC: 55% (hay ở trên là 06.Tiêu dùng ngắn hạn)**
 * 1. Nhu cầu thiết yếu – NEC: 55% (hay ở trên là 06.Tiêu dùng ngắn hạn)**
 * 2. Tiết kiệm dài hạn – LTSS: 10% (hay ở trên là 03. Tiêu dùng dài hạn)**
 * 3. Giáo dục đào tạo – EDUC: 10% (hay ở trên là 02. Phát triển cá nhân)**

Quỹ PLAY để bạn chăm sóc cái tôi hưởng thụ của bản thân. Quỹ này giúp bạn thể hiện sự yêu quý bản thân; hưởng cảm giác của người thành công; làm những việc như người giàu và tăng cường khả năng đón nhận. Bạn sử dụng quỹ PLAY để làm những việc khiến cho bạn có cảm giác như người giàu: đến những nơi chưa từng đến, ăn những món chưa từng ăn. ** Mỗi tháng, vào ngày cuối cùng của tháng, bạn phải tiêu hết số tiền trong quỹ này. ** Quỹ GIVE để giúp bạn thể hiện lòng biết ơn cuộc sống. Cuộc sống còn là sẻ chia, bạn cho đi để nhận lại nhiều hơn. Bạn dùng quỹ GIVE để làm từ thiện; giúp đỡ người thân; gia đình, bè bạn. Tự do tài chính là khi bạn sống một cuộc sống như bạn mong muốn mà không nhất thiết phải làm việc hay phụ thuộc tài chính vào người khác. Bạn cần lập quỹ FFA để có tiền làm việc thay cho bạn. Bằng cách này, bạn đã tạo ra “con ngỗng” đẻ trứng vàng để bạn sử dụng khi không còn làm việc. Bạn chỉ được dùng quỹ này để đầu tư và tạo ra thu nhập thụ động. Càng nhiều tiền làm việc cho bạn, bạn sẽ càng ít phải làm việc hơn. Xin lưu ý: không bao giờ được ăn thịt con ngỗng! 1. Vấn đề cho tiền vào các lọ này cần được thực hiện hàng ngày, tôi nói là HÀNG NGÀY. Nếu bạn làm hàng ngày nhưng số tiền chỉ tăng vào mỗi cuối tháng, tức là bạn đang chỉ làm công, ăn lương. Hãy tìm kiếm thêm các nguồn thu nhập thụ động khác để bổ sung nguồn thu của mình mỗi ngày. 2. Quỹ Hưởng thụ PLAY cần được tiêu dùng liên tục, nó phải hết vào mỗi cuối tháng. Nếu nó thừa tiền, bạn cần cân bằng lại cuộc sống của mình bằng cách nghĩ tới việc chăm sóc cho bản thân mình, nếu nó thiếu, bạn cần tập trung cho việc kiếm tiền của mình. 3. Quỹ tự do tài chính FFA, bạn không bao giờ được tiêu tiền trong quỹ này, chỉ dùng nó để đầu tư tạo ra thu nhập thụ động //(sưu tầm)//
 * 4. Hưởng thụ – PLAY: 10% (hay ở trên là 04. Hưởng thụ)**
 * 5. Cho đi – GIVE: 5% (hay ở trên là 05. Cho đi)**
 * 6. Quỹ tự do tài chính – FFA: 10% (hay ở trên là 01. Ngỗng vàng)**
 * CÁC LƯU Ý:**

http://www.smartaboutmymoney.com/manage-your-money-using-money-jar-system/

= How To Manage Your Money Using The Money Jar System = When I was growing up, the only thing my parents taught me about money was, “Save your money up for “rainy days” that will come.” Except – there are 2 giant problems here!
 * 1) I never learned how to
 * 2) Invest money to make more money
 * 3) Budget and manage my money in order to have a balanced lifestyle
 * 4) Spend money wisely in order to enjoy money
 * 5) Give money away to bless more people

It is only when I learned the Money Jar System (MJS) from T Harv Eker ’s Millionaire Mind Intensive ( MMI ) seminar in 2007 that I finally had a simple and effective system to manage my money. So, I credit my money success to T Harv Eker who changed my financial life. Over the years, I have attended the MMI 6 times. And since the first MMI, I have been using the Money Jar System to get myself out of my financial woes and building a prosperous life. What changed in our lives since using the Money Jar System ? With my success, I have helped many people implement the Money Jar System and experience financial freedom. Along the way, I’ve learned from the questions they’ve asked as well and have built a list of guidelines and frequently asked questions (FAQ) that I hope will be useful to you. Honestly – the reason why I created this guide is that most websites talk about the system in general and don’t go into the details, especially implementation issues. It is a good system to manage you money but it can only be as good as the person who implement it! ** DISCLOSURE: ** I am Lead Coach (Asia) for T Harv Eker’s Life Makeover Coaching program. I am writing this article not because I work with him. I do so because I have witnessed first-hand how the lives of friends and coaching clients have changed changed as a result of implementing this money management system. It’s some of the best news out there in challenging financial times, and I can’t help myself – I want everyone to experience the freedom and peace my family has experienced as a result of this money management system.
 * 1) I learned to focus only on “rainy days.” As a result – they kept coming into my life! So, I literally emptied my bank account over and over in my life.
 * Our net worth increased by 10% every year.
 * We have a fully paid home in Singapore for $271,000.
 * We co-share 7 units of luxurious condominiums at Makati, Philippines
 * We owned a passive income Network Marketing business
 * We have money set aside that is growing steadily for our children’s education
 * We donate to charity without any reservation.
 * We created more peace in our relationship because my wife and I have our own “PLAY” money.
 * I get to go for Personal Development workshops and my wife can only say, “YES!”

WHO THE HECK IS T HARV EKER ?
His official website says this about him:

//Using the principles he teaches, T. Harv Eker went from zero to millionaire in only 2 1/2 years! He combines a unique brand of ‘street-smarts with heart’.// //Eker’s high-energy, ‘cut-to-the-chase’ style keeps his audience spellbound. T. Harv Eker’s motto is “talk is cheap” and his unique ability is getting people to take “action” in the real world to produce real success.// //Eker is the author of the best-selling books, Secrets of the Millionaire Mind and SpeedWealth. He has also developed several highly-acclaimed courses such as The Millionaire Mind Intensive, Life Directions, Wizard Training and Train the Trainer. He is also the producer and trainer of the world-famous Enlightened Warrior Training.// //T. Harv Eker is the son of European immigrants who came to North America with only thirty dollars to their name. He grew up in Toronto, but spent most of his adult years in the United States.// //Money was scarce throughout his childhood, so at thirteen, Eker began his work career. As a teen he delivered newspapers, scooped ice cream, sold novelties at fairs, and suntan lotions at the beach. After a year at York University, he decided to take time off to pursue his dream of becoming a millionaire.// //During his early adult years, he lived in five different cities, including Lake Tahoe and Ft. Lauderdale. He had a variety of jobs and started more than a dozen different businesses, but regardless of what he did, or how hard he worked, he just couldn’t achieve success.// //Finally after many years of frustration, Eker hit the jackpot. He opened one of the first retail fitness stores in North America and grew the business to ten stores in only two and a half years. He then sold part of the company to a Fortune 500 corporation.// //With the sale, Eker reached his dream. He was finally a millionaire; however, in less than two years, the money was gone. Through a combination of poor investments and unchecked spending, Eker was back at his original net worth … again.// //It was at that point that Eker began developing his theories about people’s mental and emotional relationship to money. He realized that his “inner-money thermostat” was set for a specific amount of financial success, and that everyone else had a financial set point too. His most profound discovery was that this money blueprint could be changed. Using the principles and practices found in his book, Secrets of the Millionaire Mind, Eker reset his own blueprint to not only create success, but to keep it and grow it, and become a multi-millionaire.// //During his years of struggle, Eker vowed that should he ever get rich, he would help others do the same. He has kept his promise. He has already touched the lives of over 1.5 million people, helping them move closer to their goal of true financial freedom.//

HOW HARV CHANGED MY LIFE
I met T Harv Eker in 2007 when he first launched the Millionaire Mind Intensive in Singapore. It was an electrifying 3-day program that helped me established solid money habits and allow me to see for the first time what had been holding me back from achieving more success. At the end of the 3 days, I signed up for his Quantum Leap program which consists of a series of workshops including: This was the first launch in Asia and he wanted to create an impact. So, for most of the workshops, I had the privilege of learning from him personally. As I was impressed with the program and kept experiencing real results from it, I further continued my education with him, including: In 2011, I was offered a coach position in Ultimate Internet Boot Camp (in Singapore) and Ultimate Internet Boot Camp 2 (in Las Vegas, USA). And it was during this workshop that for the first time, I had an up-close and personal chat with Harv when I was offered the position of Lead Coach (Asia) for his Life Makeover Coaching Program. Personally, I find him a warm person who is very practical in his teachings. One thing that I really enjoy in his teaching is his ability to go really deep into the psychological aspects of people’s problems surrounding money rather than just skimming the surface like in so many other programs. This is evident in the Tough Love Calls as part of the Life Makeover Coaching program .** I will forever be grateful to him for the life I now enjoy. Thanks Harv! **
 * Mission to Millions (previously Life Direction Intensive)
 * Guerrilla Business Intensive
 * Train The Trainer
 * Enlightened Warrior Camp
 * Master Your Mind
 * Never Work Again
 * Freedom Trader Intensive (taught mainly by Courtney Smith)

WHY MANAGE MONEY?
** NOTE: ** Throughout this article, we use the terms, “Rich people” and “Poor people.” Now, this is NOT to discriminate anyone or any group of people. It is simply an easier way to identify the group of people (i.e. Rich people) who seem to have a lot more money than the average person while another group of people (i.e. Poor people) always seem to just make ends meet or barely have enough to survive. In his book, Secrets Of The Millionaire Mind, T Harv Eker discussed Wealth File #14:

Rich people manage their money well; Poor people mismanage their money well. — T Harv Eker <span style="color: #999999; font-family: 'Helvetica Neue',Helvetica,Arial,sans-serif; font-size: 12px; text-decoration: none;">CLICK TO TWEET

This is in line with the book “The Millionaire Next Door” by Thomas Stanley who surveyed millionaires from across North America who reported on who they are and how they attained their wealth.

Rich people are not smarter than poor people; they just have different and more supportive money habits. — T Harv Eker <span style="color: #999999; font-family: 'Helvetica Neue',Helvetica,Arial,sans-serif; font-size: 12px; text-decoration: none;">CLICK TO TWEET

So, to put it simply, in order to master money, you must manage money. Here are some mistaken beliefs about money that keep Poor People where they are financially, followed by the reality of the situation.
 * 1) Money management restricts freedom. Reality: Managing your money is the only way to eventually create financial freedom which is true freedom
 * 2) There is not enough money to manage. Reality: Only when you begin to manage it, then you’ll have plenty of money. The universal rule is that, “Until you show you can handle what you’ve got, you won’t get any more!” So, you must acquire the habits and skills of managing a small amount of money before you can have a large amount.

MONEY JAR SYSTEM
So how exactly do you manage your money? At the first Millionaire Mind Intensive ( MMI ) seminar that I attended in 2007, I was taught this amazingly simple and effective money management method, Money Jar System. Since then, I have been using it and seeing results that prove that it’s working in my life. I’ll go into more details shortly; but let me give you a quick illustration of how this system changed my life. Let’s go through each jar in detail.

FFA (FINANCIAL FREEDOM ACCOUNT) JAR
Rich people pay themselves first; Poor people pay everyone else first — QUEK Kai Hock <span style="color: #999999; font-family: 'Helvetica Neue',Helvetica,Arial,sans-serif; font-size: 12px; text-decoration: none;">CLICK TO TWEET

When income comes in, Poor people settle the mortgage loan, pay the credit card bills, utility bills, insurance, etc first. Then whatever that is left behind is known as savings. And usually, there is nothing or not much left. Rich people follow the “pay yourself first” financial principle before spending the rest of the money. So, the ** Financial Freedom Account ** (FFA) jar is 10% of your total income. The idea is to grow this money so that it becomes a golden goose that lays golden eggs called Passive Income. This is done by investing this money into The FFA jar is your ticket to Financial Freedom. So, if you find that you do not have the discipline to save, open up a saving account in a different bank and make it really inconvenient to withdraw money. So, refuse to accept a ATM card or link it to any other bank accounts that you have. The only way you can withdraw from this account is to walk into a bank and queue up at the counter. And on top of the FFA bank account, create a FFA physical jar at home too. Each day when you come home, deposit some money into it. It could be $10, $1 or any loose change. Then at the end of each month, deposit this money into the FFA bank account. The amount does not matter, the habit does.
 * Real estate
 * Business acquisition
 * Stock investing (not trading)

What you focus on expands — T Harv Eker <span style="color: #999999; font-family: 'Helvetica Neue',Helvetica,Arial,sans-serif; font-size: 12px; text-decoration: none;">CLICK TO TWEET

The purpose of the FFA physical jar is to place daily attention on your goal of becoming financially free. And when you do so, you attract opportunities and events to help you towards that. Basically, this simple jar becomes your “money magnet.” Don’t believe it? Do it and see it for yourself! Also, have you heard that we should have a “Security Net” amount that is equivalent to 6 months’ worth of expenses? This is important in case of unforeseen events that do not allow us to have working income coming into our life. These include So, I would use the FFA jar to hold this Security Net amount too. For me, I split up every $1 into $0.50 for Security Net and $0.50 for future investments vehicle until I build up this Security Net amount. Then, I put this money into a fixed deposit or low-risk investment vehicle which gives you immediate access to the money whenever you need it.
 * Retrenchment
 * Being fired
 * Personal medical conditions
 * Family incidents that require our full attention.

FFA JAR RULES
You never spend this money. You can only invest this money in investment vehicles that have potential capital gains OR passive income streams. For any returns of your investment, re-invest everything back into FFA. Continue to do so until you are financially free. Then, you can spend the returns on your investment but NEVER spend the principal, which has a potential of more income returns.

PLAY JAR
Rich people know how to enjoy a little now and enjoy more later; Poor people only know, “suffer now and enjoy later” or “enjoy while you can” — QUEK Kai Hock <span style="color: #999999; font-family: 'Helvetica Neue',Helvetica,Arial,sans-serif; font-size: 12px; text-decoration: none;">CLICK TO TWEET

If you are a SAVER, chances are you would be satisfied seeing the money accumulating in your life. However, you would also feel that there is not much fun out there. So, while the logical and responsible self is fulfilled, the inner self is not. And what’s worse, whenever you spend, you feel guilty that you should be saving it instead. Sound familiar? As a result, many SAVERS end up saying, “Enough is enough,” and they take out all the money and spend it, thus completely sabotaging their results. What about SPENDERS? When you keep spending, not only will you never become rich but you will eventually feel guilty spending too. So, that is where the PLAY jar comes in handy for both SAVERS and SPENDERS. It’s another 10% of your income for you to enjoy your life and to indulge yourself. Many financial gurus talk about saving 10% of your income to invest. However, it was through Harv that I realised I must have an equal and opposite account specifically designed for me to spend my money and have fun with it! So, that’s the role of the PLAY jar. So, for SAVERS (and I am one), the PLAY jar motivates you to continue to follow the plan and makes managing money a heck of a lot more fun! And for SPENDERS, the PLAY jar ensures that you have lots of fun but within your means! In fact, when you stick to the plan, you will never have the guilty feeling of overspending any more! Your PLAY jar is primarily used to nurture yourself. So, use it to do things that you would not normally do. Examples include Or just enjoy the form of luxury that nurtures your soul the most!
 * Order a bottle of the restaurant’s finest champagne
 * Rent a luxurious yacht for 3 hours
 * Drive a Ferrari or Lamborghini for 1 hour
 * Stay in a high-class hotel for an extravagant night of fun
 * Take a ride in a limo
 * Sit in the front row for a concert of your idol singer
 * Have a luxury spa pamper you from top to toe
 * Buy the top-of-the-range golf set you have been eyeing
 * Go on a VIP Tour of Universal Studios or Disney

PLAY JAR RULES
You MUST blow all the money in this jar every month in a way that makes you feel rich. If there is a particular spending whereby one month of PLAY money is not enough, you can accumulate up to 3 months to blow jar. If it is a big item requires more than 3 months of PLAY money, use LTSS jar (discussed next) instead.

LTSS (LONG-TERM SAVINGS FOR SPENDING) JAR
Rich people practice delayed gratification; Poor people think only of instant pleasures. — QUEK Kai Hock <span style="color: #999999; font-family: 'Helvetica Neue',Helvetica,Arial,sans-serif; font-size: 12px; text-decoration: none;">CLICK TO TWEET

Poor people go for instant pleasures. So, the moment they see the new Mac computer or Louis Vuitton bag, they simply swipe their credit cards and worry about the bills later. On the other hand, Rich people learn how to delay gratification. They save up before they spend. Even when they go for installment payments, they already know that the money will be allocated each month to pay the credit card bills. So, the third jar is called ** Long-Term Savings for Spending Account ** (LTSS). This is another 10% of your income. As the name implies, it is a jar for you to spend. However, unlike the PLAY jar, it is not meant to be spent every month. It is meant to be accumulated so that you can spend it later on big items such as the new car, the latest LED TV, the dream holiday trip. As the saying goes, “A small monthly contribution can go a long way.” Here are a few more ways you can use LTSS jar As you can see, usage of LTSS is versatile. I have 6 different uses of LTSS and I keep track of those amounts using a spreadsheet.
 * 1) Christmas gifts fund – I have a private coaching client who would spend close to $2000 each Christmas to buy gifts for family members and friends. So, December became a really tight budget month for him. When he implemented the Money Jar System and saved $200 each month into the LTSS jar as a Christmas gift fund, he had the best Christmas the following year.
 * 2) Childrens’ university fund – My boy is now 11 years old and my girl is 8 years old. So, my wife saves a fixed amount each month into the LTSS jar as their university fund. For every $10,000 saved, we put it into some fixed deposit or very low-risk investment vehicles to have a slightly better returns compared to bank deposits.
 * 3) Payable tax – In some countries, taxes are immediately deducted on payday. However, in some countries (e.g. Singapore), taxes are only deducted after one year of income. While it means more disposable income every month, it creates a lot of stress during income tax filing period! To ease that, you can estimate the amount of tax payable and start saving it up in the LTSS jar (similar to the Christmas gift fund)
 * 4) Emergency fund – This is a fund that you tap only in case of dire, unplanned events such as replacing your washing machine, water heater, air conditioner, dishwasher, and the leaking roof on your house. With this fund, you would not have to resort to credit-card debts. Note that this is different from the Security Fund under FFA jar.
 * 5) Paying off your debt – If you currently have debts, use at most 50% of the amount allocated to LTSS to repay them. Why not 100%? If you have debts, it is most likely a habit now. So, when you use 100% and clear off your debt, you’re just going to add new debts again. And as such, you can never buy the big LED TV or go for your dream holiday.

LTSS JAR RULES
You can save up money as long as you want in this jar. The number one mistake most people make is to simply save money in this jar without any set goals. Then, they simply spend the money in this jar whenever they feel like it.

EDU (EDUCATION) JAR
Rich people get educated; Poor people get entertained — QUEK Kai Hock <span style="color: #999999; font-family: 'Helvetica Neue',Helvetica,Arial,sans-serif; font-size: 12px; text-decoration: none;">CLICK TO TWEET

Poor people only think about the next movie, the next drama series, the next computer games, the next phone apps that simply waste their time and money away. Now, I am not suggesting that you can’t watch movies or play games for some leisure. In fact, having some of these activities is good to maintain your life balance. However, you have to ask yourself – how much time and money have you invested in yourself these days? This next jar is called Education Account (EDU) which is another 10% of your Income. Ben Franklin said, “If you think education is expensive, try ignorance.”; And T Harv Eker said, “If you are not growing, you’re dying!”. I can name you quote after quote by highly successful people who confirm that an important factor of their success is continuous education and investing in their own brain. After all, YOU are your most valuable asset! So, when was the last personal development book you read? When was the last inspiration movie you watched? When was the last seminar or workshop you attended that taught you how to move forward in your life? In fact, here is one of the best investments you can make. ** If there is any area of your life that you want to improve, get a coach! ** Does Tiger Woods have a golf coach? Does Michael Jordan have a basketball coach? If you want to be good in something, you need a coach in that area. A good coach makes all the difference. Champions understand that they can’t be one without a coach. Look at the Olympic winners. Do you think they all have a coach? So, what about you? Do you have a MONEY Coach? I am going to be upfront with you that mastering MONEY is a lot of hard-work. And I always believe that everyone should learn about MONEY. That’s why I created a low-cost 1-on-1 private coaching program.

EDU JAR RULES
The money in this jar is to spend on books, audios, seminars or coaching. Spend it as and when necessary.

GIVE JAR
Rich people think of abundance; Poor people think of scarcity — QUEK Kai Hock <span style="color: #999999; font-family: 'Helvetica Neue',Helvetica,Arial,sans-serif; font-size: 12px; text-decoration: none;">CLICK TO TWEET

Poor people feel that since they don’t have enough for themselves, they can’t give to others. This is a big mistake. When they think of “not enough”, they invoke the Law of Attraction which just attracts more scarcity into their life. Events arrange themselves and opportunities are missed so they prove to themselves that they are absolutely right about their current financial situation. And since we all know that any changes must start from within us, the first step in having more money into our life is to have abundance thinking. And the easiest way to kick start this process is to give. The amount is not important; it is the act that counts. After all, we can’t give what we don’t have. And when we start to give, even one dollar, we are telling the universe that we have more than enough. So, the money in the GIVE jar is for giving away. This will be 5% of your income. It could be your favourite charity, your church or your temple. It could also be used to give to friends in financial need too. Before using the Money Jar System in the past, I would think really hard about giving since the money could be spent on the family or on growing my business. And with money allocated each month to this jar, I can give without reservation and feel happier because I have more than enough and can easily afford to bless people who are less fortunate than me. One last thought… Have you heard of the saying, “The more you give, the more you get” or “Give, and it will be given to you?” In fact, I believe in this and have seen it work!
 * If you feel that you don’t have enough money right now, GIVE MONEY
 * If you feel that you don’t have enough time right now, GIVE TIME

GIVE JAR RULES
The money in this jar is to be given away when necessary. If you would like to contribute 10% (instead of 5%) to your income to the GIVE jar, take the additional 5% from the NEC jar (discussed next)

NEC (NECESSITIES) JAR
Rich people spend within their means; Poor people spend everything they got (and beyond) — QUEK Kai Hock <span style="color: #999999; font-family: 'Helvetica Neue',Helvetica,Arial,sans-serif; font-size: 12px; text-decoration: none;">CLICK TO TWEET

Poor people spend whatever they earn monthly or worse still, they spend more than what they earn. This is evident by the high incidence of credit card debts. And many times, they buy items that are cheap rather than items that are useful. And it is evident by the amount of “stuff” lying around in the house. The last jar is your Necessities Account (NEC). This is 55% of your income. This is for your living expenses such as:
 * Personal Income Tax
 * Personal Allowance
 * Personal Insurance
 * Personal Health
 * Personal Grooming
 * Personal Fun
 * Spouse Income Tax
 * Spouse Allowance
 * Spouse Insurance
 * Spouse Health
 * Spouse Grooming
 * Spouse Fun
 * Child Allowance
 * Child Insurance
 * Child Health
 * Child Grooming
 * Child Fun
 * School Fees
 * Child Care Fees
 * Enrichment Class Fees
 * Parent Allowance
 * Parent Insurance
 * Parent Health
 * Pet Maintenance
 * Pet Health
 * Property Tax
 * Home Loan
 * Home Rental
 * Home Insurance
 * Helper
 * Home Necessities
 * House (Elect/Water/Gas)
 * Mobile
 * Landline
 * Internet
 * Cable TV
 * Taxi
 * MRT / Bus
 * Road Tax
 * Car Insurance
 * Car Loan
 * Car Maintenance
 * Car Petrol
 * Car Season Parking
 * Car Ad-hoc Fees
 * Personal Bank Loan
 * Credit Card Debts
 * School Loan

Rich people budget their money and track their expenses so that they know what they are spending on. They treat each dollar as a money seed that can grow into a money tree and they are prudent with their spending. They spend on what is “necessary” rather than what is just cheap. Through budgeting, they already know roughly how much they are spending on each aspect of their life. And through tracking their expenses, they know how close they are towards their goal. Having said that, I personally do not advocate that you stick to your budget like a holy grail or aim to track your expenses with 100% accuracy. If you do, then it can turn out to be really stressful instead and you would end up stoping this process. Think from a company perspective. You can budget and track your spending but you would likely not be able to account for every single dollar. Now, what if you cannot survive on 55% of your income? The first step would be to simplify your lifestyle. Instead of driving a car, how about using public transportation? If you are driving a Mercedes, how about converting to a Toyota? That is exactly what happened to one of my clients. She had a Mercedes with down payment paid for by her father as a university graduation gift. However, she had to pay the remaining car loan monthly installment. And by converting to a Toyota MPV, she saved $1,000 a month and had more seating space for the whole family. Other examples of simplifying lifestyle include Bottom line is: If you didn’t have a job today, what are the items that would be really necessary? NOTE** : ** If you would like to contribute 10% (instead of 5%) to your income to the GIVE jar, take the additional 5% from the NEC jar
 * Instead of a full-time maid, employ an hourly-rate helper to do those chores that you hate (e.g. iron the clothes, clean the windows)
 * Instead of paying a high insurance premium, do a review and keep only those policies that are really necessary
 * Instead of eating out in restaurants weekly, look at more home dining (which is healthier also)
 * Instead of loading up the kids with enrichment classes, cut down to the essentials and have more quality time with them.

NEC JAR RULES
There are not many rules in using this jar. Again, simplify your life so that you can keep this amount to the minimum.

FREQUENTLY ASKED QUESTIONS
Below are list of questions that most people have about the Money Jar System. NOTE: I will also share some of my personal approach from having adjusted the system to my lifestyle. There is no right or wrong, good or bad, about how I implement the Money Jar System. Whatever we discussed above is not set in stone – it is just a guideline. And I encourage you to use this as a reference and adjust the system according to your lifestyle too.

1. WHAT IF I NEED 95% OF MY INCOME FOR NEC NOW?
The first step is to further simplify your life. Think of each dollar as a money seed that could grow into a money tree. So, the more you can reduce your NEC, the more you can give to the other jars. And if you absolutely need 95% of your income for your NEC now, split the remaining 5% among the rest of the 5 jars. You could either It is the habit we are looking for, not the amount. What you would observe is that miraculously, you will have more money coming into your life because you manage the money and show the universe you can handle more. And when you can do 90% NEC, split the remaining 10% into the 5 jars. This is exactly what happened to me when I first started using the money jar system.
 * split the 5% evenly (i.e. 1% in each jar) _or_
 * split the 5% based on your desired percentage (e.g. 2% FFA, 1% EDU, 1% LTSS, 0.5% PLAY, 0.5% GIVE)

2. WHAT IF I REALLY DON’T HAVE ANY MONEY TO MANAGE NOW?
Do you have $1 to manage? During my first Millionaire Mind Intensive, Harv talked about a former student, Emma, who was about to claim bankruptcy. After the seminar, she decided to get out of her mess by dividing $1 into the accounts. Then she committed to doubling that dollar every month. And after 2 years, she was able to put $10,000 directly into her FFA. Emma is now out of debt and on her way to becoming financially free. All because she took action with what she’d learned, even if it was only with $1 a month. Again, it doesn’t matter if you have a fortune right now or virtually nothing. What does matter is that you immediately begin to manage what you’ve got, and you’ll be in shock at how soon you get more.

3. WHAT IF I AM CURRENTLY BORROWING MONEY TO LIVE ON?
Simple. Borrow an extra dollar and start managing it. The universe rule is that, ““Until you show you can handle what you’ve got, you won’t get any more!”

4. IF MY INCOME FLUCTUATES MONTHLY AND I MAY/MAY NOT MEET THE 55% NEC, HOW DO I USE THE MONEY JAR SYSTEM?
You can calculate the maximum amount that you need for NEC. Then split the remaining amount among the rest of the jars For example:
 * You earn between $5,000 to $7,000 every month
 * You calculate that you need $4,000 for NEC jar every month
 * In the months that you earn $5,000, you transfer $4,000 into NEC and split the remaining $1,000 among the 5 other jars
 * In the months that you earn $7,000, you transfer $4,000 into NEC and split the remaining $3,000 among the 5 other jars.
 * You can split the remaining amount evenly among the 5 other jars or use a specific ratio

5. I HAVE MULTIPLE STREAMS OF INCOME COMING INTO MY LIFE AT DIFFERENT TIMES OF THE MONTH (OR I AM PAID WEEKLY IN MY JOB), SHOULD I SPLIT THE MONEY EACH TIME IT ARRIVES?
Instead of spending the time to split the money each time it arrives, I have a 7th jar called GOLD CHEST where all my income is stored. Then on the 1st of each month, I will split the money accordingly. This also helps me ensure that I always have enough going into the NEC jar first.

6. I HAVE A LARGE INCOME, ONE WHERE MY NECESSITIES ARE ONLY ABOUT 20%. HOW DO I DO MY JARS?
When your necessities are a lower percentage than 55% because you have a large income, you can decide how you want to distribute the rest of the percentages within the remaining 5 jars. For example, if you only use 20% for NEC, you can allocate or Personally, I will put as much as I can into FFA so that I can grow a legacy for my family.
 * FFA – 40%
 * PLAY – 10%
 * LTSS – 10%
 * EDU – 10%
 * GIVE – 10%
 * FFA – 20%
 * PLAY – 15%
 * LTSS – 15%
 * EDU – 15%
 * GIVE – 15%

7. DO I REALLY NEED TO HAVE 6 BANK ACCOUNTS?
There are some banks that allow you to split the accounts internally into different categories. Otherwise, it is pretty easy to set up 6 bank accounts. For me, I use bank accounts for FFA, LTSS and NEC since they are accumulative in nature. For PLAY, EDU and GIVE, I use physical jars since the money should be spent every month anyway. And I also have another FFA physical jar as discussed earlier, a NEC physical jar (discussed in Q12) and a HOLDING jar to store money that I pay my credit card bills (see Question 14)

8. I’VE GOT A LOT OF DEBT. SHOULD I PAY IT OFF FIRST AND THEN START THE MONEY JAR SYSTEM?
If you are currently having debt, use at most 50% of the amount allocated to LTSS to repay them. Why not 100%? If you acquire debt, it will most likely be a habit now. So, when you use 100% and clear off your debt, you are going to add new debt again. And as such, you can never buy the big LED TV or go for your dream holiday. Again, what you focus on expands. So, when focus on your debt, you will get more debt. The correct approach is to focus on what you want, not what you don’t want. That is why we have the FFA jars (both the bank account and physical jar). You are focusing on financial freedom, not your debt. To ease your debt tension, negotiate with your creditors to pay a smaller amount or percentage rate. Alternatively, look at debt consolidation too. You can use up to 50% of your LTSS and up to 50% of your PLAY account to reduce debt more rapidly, but do not take money from your FFA account to pay off debt. Keep your FFA percentage as close to 10% as you possibly can.

9. WHEN I SPLIT MY INCOME, SHOULD I USE BEFORE-TAX OR AFTER-TAX AMOUNT?
Harv advocates that we use after-tax amount to split the jars. Personally, I prefer to use the before-tax amount. When we know exactly how much we paid for tax consciously, we can take steps to reduce the payable tax amount legally using vehicles such as starting a home-based business. If my tax are deducted immediately from my income, I will insert that amount into my NEC account as expenses. If my tax are deducted at the end of each reporting year, I will still insert that amount into my NEC account as expenses. Then, I will transfer that amount to the LTSS jar to be accumulated so that I have the money to pay for tax later.

10. DID YOU FORGET THE RETIREMENT JAR?
Firstly, retirement status is only meant for people who hate their job or don’t enjoy their business. They look forward to that day that they don’t have to work anymore so that they can do what they truly enjoy. And if you are one of them, you should start looking for some work that you can have fun with. Otherwise, you are going to have some serious health problems later on in life with that negative energy everyday! Next, the retirement fund is for people who do not have a steady stream of passive income coming into their lives. So, when they stop working, they use the retirement fund to finance their lifestyle. And hopefully, the money can outlast their existence on earth. So, instead of aiming to accumulate this fund only, how about creating passive income streams and be financially free earlier and enjoy life more? So, the FFA jar is a better version of the RETIREMENT jar.

11. HOW ABOUT SUPERANNUATION PLANS? WOULD YOU CONSIDERED IT AS PART OF THE FFA PERCENTAGES?
It can be but I don’t view it that way because any investment that could be made with money in superannuation plans is likely to be very conservative. Besides, it is not cash that you can use to pay for your living expenses until you reach 55 years old or more. So, I would treat superannuation plans as bonuses on top of my FFA jar rather than part of it.

12. FOR NEC, I HAVE AUTO-DEDUCTION DIRECTLY FROM THE BANK AND I ALSO NEED CASH FOR LIVING EXPENSES. SO, I FIND IT REALLY INCONVENIENT THAT I HAVE TO WITHDRAW CASH ALL THE TIME
Because the auto-deduction is fixed, I can calculate how much I really need to be kept in my bank every month. Then, I add in a buffer in case I need to take money from the ATM when I am out and about. I withdraw the remaining amount and store it at home. I also split the money into 4 equal parts as my budget for each week. For example, you calcule that you need $5,000 for monthly living expenses, of which $1,500 is from auto-deduction such as utilities, insurance premium, etc. So, after allocating $5,000 in NEC jar, you can keep $2,000 in the bank (i.e. $1,500 for the auto-deduction + $500 as buffer) and withdraw $3,000 from the bank. I split this into 4 envelopes (i.e. $750) as my weekly budgets.

13. I HAVE BEEN GOOD AND SPENDING WITHIN MY MEANS. SO, AT THE END OF EACH MONTH, I STILL HAVE BALANCE AMOUNT IN MY NEC. WHAT SHOULD I DO WITH IT?
Awesome! You are on your way to more money success!! For whatever balance amount in my NEC at the end of each month, I redistribute it into the rest of the jars (i.e. FFA, PLAY, LTSS, EDU, GIVE). There is no fixed percentage to split this money. If you feel that Financial Freedom is more important, give more to it. So, I start off my NEC fresh each month and continue to spend below my means.

14. HOW DO I USE CREDIT CARDS WITH THE MONEY JAR SYSTEM?
Each time when you use your credit card, take the money from the correct account. For me, if it is from one of my physical jar (EDU, GIVE, PLAY, NEC), I take that money out of the jar and put it into another jar, say HOLDING. This ensures that you are using money that you have rather than future money and end up with credit card debts. When the credit card bills arrive, I itemize each entry with say, “N” for NEC and “P” for PLAY, etc. Next, I take the money from HOLDING to pay off the bills.

15. MY PARTNER AND I POOL OUR FINANCES TO PAY OUR EXPENSES. HOW DO WE IMPLEMENT THE MONEY JAR SYSTEM?
My experience is to continue to do the money jar system as discussed except for the PLAY jars. Instead of having one PLAY jar, you should have separate PLAY jars. The principle behind the PLAY jar is that you can spend this money on anything that your heart desires. And since you and your partner would probably have different heart desires, this is the best way to avoid money conflicts. And the most important rule here is that you are NOT ALLOWED to object or influence how the other person should spend this money. Do note that the amount in both the PLAY jars MUST BE the same. It doesn’t matter if one person makes more money than the other. That just keeps the peace and everybody has the same amount of money to have fun with.

16. MY PARTNER AND I PREFER TO MANAGE OUR FINANCES INDIVIDUALLY. HOWEVER, WE HAVE A JOINT ACCOUNT FOR HOUSEHOLD EXPENSES. HOW DO WE IMPLEMENT THE MONEY JAR SYSTEM?
Your partner and you will have your own FFA, PLAY, LTSS, EDU, GIVE and NEC jars. And regardless of how much each of you earns, you will contribute the SAME amount from your individual NEC jars into the joint account for household expenses. This is the same if you decide to have a joint LTSS jar to fund the next family holiday.

17. HOW DO I IMPLEMENT THE MONEY JAR SYSTEM FOR MY KIDS SO THAT THEY DON’T GET INTO FINANCIAL TROUBLES LATER ON.
It is important for kids to have this habit established early in their lives. This is the period that they can be easily moulded to have better money success later on in life. However, parents must already be doing the money jar system too. After all, children learn by modelling. They will do it when you are doing it too. You would still be paying for the big items such as But for the allowances that you give them daily, you can consider doing weekly instead (or monthly as they grow older). At the start of each week, they will split their allowance accordingly: So, chances are you may need to fork out more money now to implement the system. But in the long run, establishing this habit will help you and your kids more.
 * Insurance
 * School fees
 * Transportation (e.g. school bus or public transport)
 * FFA – Accumulate towards their first business or investment capitals when they grow up and are ready
 * PLAY – They can spend on anything that they want, no questions asked
 * LTSS – They set a goal and save towards that spending
 * EDU – Purchase of personal development books, not fiction
 * GIVE – Donate to their favourite charity
 * NEC – School recess meals, for example

18. I RUN MY OWN BUSINESS AND I GET CONFUSED BECAUSE MY BUSINESS EXPENSES ARE MIXED WITH MY PERSONAL EXPENSES. ANY ADVICE?
Many business owners, especially those that are home-based, make the big mistake of tying up their personal finances with the business finances. I have 2 private coaching clients who had this issue. So, by the end of the year, both of them commented, “I made the money in my business but I can’t see the money in my banks”. Your business must be a separate entity. Each month, write yourself a paycheck and manage that money using the Money Jar System. You may not need all the jar categories. Some can be paid from the business and be deducted from the pre-tax profits. These can include (please check with your tax advisor) So, for your personal finance, you can have the following jars
 * FFA – Investments made using business profits
 * EDU – Course fees which can be combined with travel expenses
 * GIVE – Charitable contributions
 * NEC – Some necessities such as the car expenses, home office deductions, client entertainment fees, medical bills
 * LTSS – Personal holiday or big items at house, for example
 * PLAY – Your heart desires
 * GIVE – For friends in need that cannot get tax deductions
 * NEC – Personal expenses for home and living.