Here it is! My husband and I have a monthly money management system. We sit down together once a month and go through our money. We use the Millionaire Mind Intensive by T. Harv Eker a money management system or what they call the jar system.
I will be honest years ago I did not have a money plan. I never knew what was coming in exactly and what was going out. I spent freely when ever I felt like it. Guess what back in 2009, I found my self in a huge amount of debt, only because I did not manage my money properly.
I used to think it takes too much time to manage my money. Now, I have learned I actually have more time and more money in my bank account. I have learned to hold and grow my money. This is the best feeling in the world, to have control. Much better than being out of control and emotionally spending.
Here it is! What you do is split your money into 6 separate accounts or jars.
It is a great feeling, but probably the hardest thing to do is to live on 50% of your income. Once you do it and simply it is the greatest feeling.
10% is play, this is great if you are a spender it will help you release that inner spender within you. I have a money personality of a spender so this was perfect for me to know that I can only spend 10% of my income.
10% give, with this you may tithe or donate how you like.
10% financial freedom account, with this account you may invest but never take the profit to spend. You will reinvest the profit to grow and compound forever.
10% long term savings this account is for anything you would like to purchase in the future, an example is a down payment on a house.
50% Necessity
10% Play
10% Give
10% Financial Freedom Account
10% Long Term Savings
10% Education
If you don't have an iMac with the Numbers program you may use google docs for a free spreadsheet.
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