Hello everyone! I hope you are all enjoying the week, howtime flies, we are almost at the end of January.Today I would like to share with you the seven jar money strategyrecommended by Bro. Thisstrategy will help you allocate your income into 7 “jars” in such a way thatyou prepare for your future, eliminate debt and at the same time help thechurch and help others too!Jar No. 1: Emancipationfund. This is where you set aside20% of your monthly income for the purpose of investing.
Bo Sanchez’s maids are millionaires. And they didn’t achieve this by getting paid ridiculous amounts of cash from brother Bo. They worked like everyone else. They probably earned a lot less than most of us, to be honest. They invested their money. But it wasn’t easy, and it took. Sep 30, 2009 In the Philippines, most people still invest by saving their money into banks over a long period of time. The bad news is this. Banks are offering very minimal interest rate on savings.
This is the fund that will help you in yourretirement years. Some of therecommended investments are stocks, mutual funds and real estate.This is where you can invest in the stock market with theguidance of the Truly Rich Club.Jar No. 2: Emergencyfund. This is where you save cashfor any unforeseen events or emergencies.Emergencies like calamities, house repairs, car repairs, sickness,etc. Bo’s recommendation is thatyou should have at least 3 months’ worth of your monthly expenses saved in thisfund so that God forbid, if any emergency occurs and you cannot earn yourregular income, you will be able to survive for at least 3 months.Recommended allocation in this jar is 5% of your monthlyincome.Jar No. 3: Everydayfund. This is the jar that willcarry money for your daily spending needs.It will cover daily expenses ranging from food to transportation.
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Recommended allocation in this jar is 40-70%of your monthly income. My personalrecommendation is also to get your credit card payments from this jar, that wayyou can pay the full amount every month and you can actually control yourcredit card spending.This fund should also be a controlling factor of yourmonthly budget; never let your monthly expenses exceed your monthlyincome. Live below your means.Jar No. 4: Empowerfund. This is the jar where you canpay yourself, from here you can save up to purchase the latest gadget you’vealways wanted or on the dream vacation with your family.
Just make sure to always save 10-15% of yourmonthly income in this jar.Jar No. 5: Enjoymentfund. This is different from jar no.4 in such a way that this will only be for small things that you and yourfamily enjoy doing like watching movies or eating out. Allocate 5% of your monthly income in thisjar.Jar No. 6: Educationfund. Never stop learning!
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This fundwill take care of anything that will help you learn new things. This is where you get money to pay forseminars, conventions, summits, books or online courses. Just make sure that the trainings, seminars,etc. That you attend will help you to grow your income in the future. Allocate 5-10% of your monthly income in thisjar.Jar No. 7: Eternityfund.
The real essence of beingTruly Rich is to be able to help others with our wealth. By tithing or donating to charitable causes,we can help others with what we have earned.It’s one way of giving back to the One who gave us our wealth in thefirst place, Our Lord Jesus Christ.Allocate 10% of your monthly income to this jar.So there you have it, the seven jar money strategy, reviewit and try your best to follow it.Believe me it will change how you manage/budget your monthly income andprepare for any unforeseen events that may happen in the future.