The 6 Jars Strategy – Tips for putting it into practice

The 6 jars strategy can be an important ally in people’s lives, controlling finances is not an easy task.

Especially in the world we live in, with its consumerist culture, where value is shown in what you own.

Trying to maintain a high standard of living, with luxuries and ostentations, many people get into debt and, as a result, have to work all their lives.

However, if they manage to control their finances and lead a simpler lifestyle, they can live more peacefully.

It is estimated that 72% of Americans are in debt, and this is due to many factors, such as financial policies.

It’s also due to poor money management, lack of control over credit cards and car financing, among others.

What is the 6 jar strategy?

With the 6 jars strategy, you have autonomy over your financial life. Do you know that dream trip?

Well, it’s possible if you plan your finances and stick to it. The biggest problem people have is not a lack of resources.

First and foremost, you need to know how much you earn and where your income is going.

In this sense, this method is indispensable for your financial balance and, in a way, for your happiness.

Many people spend their entire lives working to pay the bills, unable to take vacations, travel or enjoy a more peaceful life.

However, with the 6 jars strategy, you’ll be able to manage your finances much more easily.

This technique can be ideal for everyone, no matter how much you earn, it works for the rich as well as the poor.

It’s much simpler than you might think, and it’s making a difference to the lives of millions of people.

It will certainly work in yours too. Just have the courage to start and keep going.

Otherwise, you’ll always be in the same situation: everything you earn you spend, and you don’t even know what you’ve spent it on.

With the 6 jars strategy, all you need to do is basically divide what you earn into 6 jars for the intended purpose.

So it’s like putting your money into 6 jars, and you have to be disciplined about it when you start.

You’ll get into the habit, and you’ll no longer want to do what you did before, and you’ll soon realize how much good it will do you.

The 6 jars

These rules were taken from T. Harv Eker’s book, “Secrets of the Millionaire Mind”, and are simple methods of great value.

In this way, you will divide your money into 6 jars, with different purposes and percentages.

For the 6 jars strategy, you can also use a bank account, where you will set aside money for the intended purpose.

The first jar is called the needs jar, where you put 55% of your earnings.

This is to be used for everyday essentials, such as rent, food, bills, taxes, mortgage, transportation and so on.

Even if you don’t earn a high salary, this percentage will be enough for your expenses, so don’t take money out of this pot for other things.

In this way, change the way you handle your earnings, value every minute of your time spent working and earning.

If you think it’s not enough, try to reduce your spending, spending less time in the shower, for example.

If the distance to work isn’t long, try walking. I prefer home-cooked meals rather than ready-made ones.

It’s cheaper, and it’s also good for your health. 

The aim is for you to have financial control and to be able to distinguish between what is essential and what is superfluous.

Strategy of the 6 jars – Financial freedom and long-term savings 

The second jar is financial freedom, which means being able to live and support yourself in the position you want.

Without having to work or be dependent on someone else for money, whatever happens, don’t give it up.

The percentage to save is 10% of your earnings, but don’t ever let this amount go to waste.

Make it pay, invest it in investment funds, mutual funds, among others, always invest it safely.

After all, this is your passport to a better future. We know it’s not always easy, so try to educate yourself financially.

In the 6 jar strategy, the third jar is for long-term savings. 

Do you know that dream of buying a new car, an expensive watch?

As well as vacations, a child’s college education, and even in the event of a medical emergency

You’ll be putting 10% of your monthly income into this pot every month. Take advantage of these moments to teach your children about financial education.

It doesn’t seem like much, but with this monthly saving, these and other goals and dreams can be achieved.

In this sense, you’ll be very happy and surprised because you know you have security.

This is money that can also be invested. You just have to be careful how you invest it, because if you need it, you’ll be able to get it back.

Education and fun

The fourth jar in the 6 jar strategy is education. Perhaps you want to take a course or specialize in a specific area.

That way, another 10% of your income will go into this jar. Education is super important.

As Ben Franklin said, “If you think education is expensive, try ignorance”. To change your life, one of the remedies is studying.

If you invest in your own growth and knowledge, your mind will be more open, and you’ll find it easier to learn something new.

However, if you’re already happy with your level of education, try to use that money for your children’s education.

The fifth jar in the 6 jar strategy is the fun jar, where 10% of your income goes on games, outings, eating out and drinking good wine.

This jar is like a reward for all your hard work, it gives you happiness.

In this way, we can also talk about health, since you have mental satisfaction, because you will have more strength and energy for work.

Can you imagine how nice it is to go to that restaurant, eat your favorite food and be able to afford it, without worrying about how you’re going to pay for it?

After all, you’re worthy of your efforts, you work hard, and you can take the opportunity to relax a bit.

6 jars strategy – Donation

The sixth and last is the donation jar, which should be no less important than the others.

In this sense, you, as a human being, need to be socially responsible. No one has so little that they can’t give.

Give 5% of your income to charity, or help someone you know.

By doing this, you’re sure to become a better, more sensitive person with positive feelings every day.

On the other hand, don’t leave it up to the government to solve social problems, feel part of it and do your bit.

When you help someone, you are automatically helped, and feelings of happiness come to mind.

Not to mention that everything you do, good or bad, always comes back to you.  

Tips for putting the 6 jars strategy into practice

The first tip for you is, get started. Don’t keep putting off this decision, we’re talking about your life here.

In other words, just as you can’t play with your existence, don’t stop taking your finances seriously.

Make a commitment to yourself, have the courage to start, and you’ll be happy with the first results.

If you find the pot system difficult, try using your bank’s app – there are some very good features for this.

So, divide up the percentages and start changing your life today. As I’ve already mentioned, the amount doesn’t matter.

The most important thing is continuity: if you earn little, save up to live more simply.

The 6 jars strategy will give you more financial health, and you’ll certainly have more freedom and control.

Just as the physical body needs exercise to gain strength and vigor, it requires discipline.

You’ll also need determination. Don’t let anything take your focus away, and you’ll see how easy it is to get started and stick to your goal.

Otherwise, read good books on financial health such as Secrets of the Millionaire Mind by T. Harv Eker.

Another book that can help a lot is Think and Grow Rich by the writer and professor Napoleon Hill.

In this sense, the 6 pots strategy will become much easier. Good literature tends to expand the mind and change our concepts.

Conclusion

Finally, don’t sit around moaning about how little you earn and how you can’t do anything about it.

To practice the 6 jars strategy, change, be different from the majority, take control of the situation.

Complaints and negative feelings steal your energy and damage your emotional state.

However, if you have the courage to implement this method in your life, you will soon see the results.

Daniel 29 de April de 2024