The habit of saving up is just like any other process or system that if explained well and backed up with evidence can also become scientific in nature. All it requires is just a proven approach and a step by step process for one to achieve its desired result. The process should have detailed guidelines that may include objectives (what you want to achieve), the “implementation process” (this is the application part) and of course an evaluation tool that will serve as the check and balance if you have done the process in the right way.
Consequently, in the world of money, there is a system that satisfies all these scientific criteria. It is named as the JARS System of Money management. As its name implies, this system helps people organize and put to order their (very) chaotic earnings and spending money habits. So, let me introduce to you how the 6 JARS Money System works.
Before you read on, it is recommended that you get the following first: a pen, a paper; a calculator and 6 jars of any kind (it doesn’t really matter).
If you have with you all of the mentioned requirements above, then you already made the first step towards gaining true financial freedom. The second step is to label the 6 jars with the following acronyms: NEC, PLY, FFA, EDU, LTS, GVE. The next step is to withdraw all your earnings for the month and lay it down on the table. The last step is to take out your calculator and compute your earnings base on the allotted percentage assigned on each jars. The most important instruction is to keep safe these jars with your money in it. This is called the JARS System.
Now, below are the given descriptions of the 6 acronyms mentioned above labeled in the jars with its corresponding percentages:
The message of the 6 JARS system is clear; it is not actually the amount that matters but the habit of saving up and allotting money intended for the right purpose. For a start, try allotting your P100.00 as your initial money in the jars. Then, in the next payday, start filling the jars up. At the end of the year, you will just be surprised of how much money you have earned.
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