I believe the Covid time is the best time to learn money management skill .

‘There is a saying regarding money management “it doesn’t matter how much you make what does matter is how much you keep.”

2 years back I was reading a book called “The secret of millionaire mind by T Harv Eker” I was fascinated by the concept mentioned in the book about the money management .

It was a matter of serendipity that the next week I saw a Facebook post that says two days long T Harv Eker signature program “The millionaire mind intensive” seminar was happening in Hyderabad”. Immediately I booked the seminar ticket, hotels and flight ticket and next week I was in Hyderabad.

The learning in the seminar was huge. In two days long seminar they conducted many exercises to make sure the key ideas get inculcated in our mind.

The best thing I learn in the seminar is use the Jar system to develop a money management mindset. The idea here is get 3 Jars(I started immediately this exercise with Kitchen Jars 🙂 Label each jar as Jar#1. Financial freedom account, Jar #2. Charity account, Jar #3. The Fun account.

Every single day start putting some cash in all three jars. You can start with as low as as Rs.1 coin, in each jar but the key is every day.

Regarding money mangement “It is not the amount that counts, it is the habit that counts” becasue we are the creature of habit.

So why 3 Jars? Not just one, becasue ecah jar has a different purpose and rules:

Jar #1. Financial freedom account: The rule here is that you never ever spend money from this count. This account is for saving and invest ment purpose only. The Financial freedom jar will give a sense of feeling that no matter how hard is your current finaicial situation ,you still have the money. Remeber where focuse grow energy flows.

Jar2#Charity account: The greatest satisfaction comes from helping others. Charity account help us not only just feel better but also motivate and encourage us to do better in life so that we can do countribute more.

Acutually charity is an investment for your emotional well being.

Jar 3# The fun account: This is my favourite account. The rule here is at the every month you must have to blow this money for fun realted activities: Go for trip, visit the high end resturant, buy something for yourself..Go wild,do something for fun.

Why this account is so important…because you would be excited and motivated to save moeny becasue you know that by the end of the month you are going to have fun.

Tony robbins said ther are only two reasons to do anything ”To avoid pain or to gain pleasure”

When in our mind the pain of doing something is higher than the pleasure of doing it we don’t take action.

We don’t save money because somehow the pain of saving money is higher than the pleasure of not saving it. The fun account will help you to change your mindset because it helps your mind to associate pleasure with saving the moeny.

Once the habit got developed you can open a seperate finacial freedom bank account and by the end of the every monrth do deposit the moeny in your financial freedom account.

You can also open one chariry account to donate the moeny every month or you can simply put this charity trascation on auto poilot mode hence every month money will get deducted form your account and you dont have to think about it.

Apart form 3 jars you might two more jars . The jar #4 would be for personal develpment account – This money would be spend only on self improvement things- Like seminar, conferences, books, audio and video courses, training etc.

Jar#5 would be for Long term account – Here the saving would be for long term spending – Like big purchases, unexpected emergency, Vacations etc.