The 6 Jars Concept For Wealth Management

    Here’s an easy way to think about your finances. Instead of trying to picture all sorts of complicated accounts and budget lines, just imagine you have 6 jars in front of you. By putting all your money into these jars each month—in the correct proportions—you’ll easily achieve financial security!

    1. Necessities Jar. 55% of your money goes to cover necessities like rent, mortgage, utilities, taxes, food, clothing, etc.
    2. Saving Jar. 10% of your money goes to help you save for expensive things you can’t currently afford. Instead of going into debt to buy a new car, vacation, home improvements or kids’ education, save the money, then pay cash.
    3. Future Jar. 10% of your money goes to help you eventually become financially secure. It’s for investments, retirement savings, building a down payment for a revenue property, etc. Remember, you never spend this money, only the returns you earn on it.
    4. Learning Jar. 10% of your money goes to support your education and personal growth. Basically, you’re investing in yourself. This can include courses, books, webinars, etc.
    5. Pleasure Jar. 10% of your money goes for luxuries and treats, like dinner out, a weekend getaway, new games, a massage, etc.
    6. Giving Jar. 5% of your money goes for gifts. These could include birthday and holiday gifts, charitable donations, and acts of random kindness.

    These numbers are just guidelines.  Your financial circumstances might be different, therefore, you may need to adjust the percentages slightly. Even if you are currently in debt, you can start by managing each borrowed dollar well.

     

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    Carolina Paredes

    I am focused on solutions for helping you achieve your real estate goals. 15 years experience in the industry helping families with a straightforward and honest approach combined with an aggressive marketing plan. Specialties: Mortgage Financing – Selling and Buying your HOME I pride myself on providing the best service possible. Moreover, I am committed to being the best that I can be and to stay up to date with the latest trends in our industry. I have one of the most up today and fast website to search properties in the area of Calgary www.RealHomesCalgary.com Try it. Use it when searching for your home. It is free to register.

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