3 Simple Steps to Master Money Management

realfore

April 7, 2022

financial freedom money management (1)

Let’s face it — one of the hardest things about money is learning how to manage it well.

In the video above, I’ll share the exact strategies I, and thousands of my students used to master money and become financially free. If you want to learn more, read on.

Your Financial Success Is Largely Based On How You Manage Your Money

The single most important difference between financial success and financial failure is how you manage money.

Mastering money management is what allows you to create financial freedom — and with that freedom comes the ability to do what you want with your time, instead of being driven by the need to work just to stay afloat. 

Most of us dream of achieving financial freedom — that moment when we don’t have to worry about how we’re going to pay the bills or make rent, when all our basic needs are provided for. 

But financial freedom can only happen when there’s enough money left to set aside for whatever we desire, whether that’s paying off debt, recreation, or a long vacation. And at the end of the day, that’s what we’re all aiming for.

Everybody I’ve ever talked to wants to be financially free. I’ve never met anybody that doesn’t want that. But financial freedom isn’t possible unless you master managing your money well using key strategies to help you get to financial freedom and build long-term wealth. 

In order to really manage our money well, read on to discover a few key principles to keep in mind… 

financial freedom money management (1)


1. If You Can Manage A Little Bit Of Money, You Can Manage A Lot 

No matter where I am in the world, if I’m talking about money, I always get the same question: “Harv, I don’t have a lot of money, in fact, I don’t have any extra, so how do I manage it?” 

To answer that question, I share a very simple analogy:

Imagine that you had a certain amount of money and you went to the grocery store once a week. Let’s say you spend $200 at the grocery store to buy your food for the week. When you get home at noon, you decide to have lunch. Are you gonna eat all of the food? Of course you’re not going to eat all the food in one sitting — you bought it for the whole week! Instead, you’re going to manage it so that it lasts you the entire week. Yes or yes? 

The same principle applies when it comes to your money:

You’ve got to manage your money and manage it properly so that it lasts. 

Here’s the thing, no matter how much income you do have coming in, you’ve got to manage it. And here’s why: 

We are creatures of habit. 

So if you are not in the habit of managing your money, when you start having MORE money coming in, guess what’s going to happen? You’re still not going to manage your money. And it’s all going to disappear, and you’ll be left wondering why you just can’t seem to do well financially — let alone get rich!

So even if you have $1 in income, you need to learn how to manage that $1. And if you can do that, you will strengthen the habit of money management. 

At my Millionaire Mind Intensive course, and in part of my book, “Secrets of the Millionaire Mind, I teach a very effective money management method— designed specifically to get you to financial freedom. 

It’s called the JARS money management system.

Basically, using this system, you split your money up into six different accounts, and you have percentages of your income to put into each account. You can use bank accounts or actual jars and divide any income you receive into the jars (or accounts) using these percentages as a guide. 

Here’s a FREE worksheet that will help you calculate how much of your income to put into the 6 jars.

3 Simple Steps to Master Money Management

Bottomline: 

As you work toward financial freedom, you have to master the habit of money management. 

Money management is the key building block of financial success, whether you’re just starting out or you’re a millionaire, because the habit is way more important than the amount.

Let me say that again…

The habit of managing your money is way more important than the amount

So, before you try to do anything else, it’s time to take control of your money. When you master your money, you’ll be putting yourself on the fast track to wealth and success.


Money management is the key building block of financial success, whether you’re just starting out or you’re a millionaire, because the habit is way more important than the amount. When you master your money, you’ll…
Click To Tweet


3 Simple Steps to Master Money Management


2. Earn More Money By Solving More Problems

Once you’ve mastered the habit of managing your money, your goal should be to maximize what you can earn. 

When I was younger, I wanted to earn as much money as fast as I could. I tried every business venture I could get my hands on. And no matter how hard I tried, I just couldn’t make any business work.

And the primary reason for that was that I was focused only on myself making money and not focused on helping others!

In fact, I believe most business success comes down to one factor, and one factor only: whether your business focuses on solving problems for other people.

It doesn’t matter whether it’s a big problem or a small problem. And you don’t have to be smart, unique, good-looking, or have some special or unusual skill to be massively successful.

All you need is a product or service that solves problems for others.

Think about it like this…

If you solve a problem for one person, you earn one money

If you solve a problem for some people, you earn some money.

If you solve a problem for lots of people, you earn lots of money.

What do you spend your hard earned money on every month? I’m sure you’ll see lots of products and services for solving your problems and making your life easier. True or true?

When you focus on solving problems for as many people as you can, money is the natural result. 


When you focus on solving problems for as many people as you can, money is the natural result. 
Click To Tweet


3 Simple Steps to Master Money Management


3. Make Your Money Work For You 

I often come across students with a chunk of savings or high income who want to know how to really maximize their money. For them, and for you today, I have some advice. 

Many people believe that you should either get rich quickly OR work until you retire to become financially free. 

But being rich doesn’t necessarily mean you’re financially free, a misconception believed by 95% of people. And you don’t have to work tireless hours and wait to retire to enjoy financial freedom!

If you’re not experiencing financial freedom right now, it’s not because you’ve done anything wrong. Like most people, you probably just haven’t mastered the art investing or creating passive income — money you earn, whether you’re actively working or not. 

The goal is to make your money work for you — instead of YOU working for your money — by creating systems of investments or passive income that will result in ongoing cash flow. 

Opportunities to create passive income include investments like bank and government bonds, corporate bonds, t-bills, or rental property income. You can also focus on creating a business that generates passive income.

Be sure to build a business that has the potential to be systemized so that it can work without you. That way, money will continue to flow in, whether you’re putting in the hours or not.

Here’s a very informative infographic that outlines 8 examples of creating passive income:

How To Earn Passive Income: 8 Ways To Get Financially Free [Infographic]

make your money work for you (1)

Managing your money is one of the 8 essential elements you MUST have in place to become financially free…

Want to learn the other 7 and get on the quickest and simplest path to freedom?  

Then watch my FREE signature web class called,

The Fastrack To Freedom:
“8 Critical Elements To Becoming Financially Free Quickly”

On this web class, you’ll learn,

  • My FreedomFirst formula that will help you never “have” to work again.
  • The ugly truth about why most people don’t become free, and how to beat the odds with a simple mindset shift.
  • A unique technique that could accelerate your path to freedom. (You’ll be shocked at how simple it is!)
  • And much, much more!

This class is absolutely FREE to attend…

Just click here to watch your FREE training. See you there!

t harv eker free class "fastrack to freedom"

Do you have other creative and effective ways to manage your money well? What’s worked for you? Leave a comment below!

3 Simple Steps to Master Money Management

 

 

 

 

 

  

The post 3 Simple Steps to Master Money Management appeared first on T. Harv Eker Blog.

Donec sollicitudin molestie malesuada. Vestibulum ac diam sit amet quam vehicula

Cras ultricies ligula sed magna dictum porta. Curabitur arcu erat, accumsan id imperdiet et, porttitor at sem. Vivamus magna justo, lacinia eget consectetur sed, convallis at tellus. Donec sollicitudin molestie malesuada. Mauris blandit aliquet elit, eget tincidunt nibh pulvinar a. Pellentesque in ipsum id orci porta dapibus. Vivamus suscipit tortor eget felis porttitor volutpat. Vestibulum ac diam sit ame

Buga Meetup 2023, San Francisco

Related Articles

10 Ways to Change Your Money Mindset Positively

10 Ways to Change Your Money Mindset Positively

You’ve probably heard limiting money beliefs like, “money is the root of all evil” or “rich people are greedy.” Believe it or not, the way you think and feel about money plays a huge role in the decisions you make and the way you view money. If you believe that money...

How to Stop People-Pleasing (And Still Be Nice)

How to Stop People-Pleasing (And Still Be Nice)

People-pleasing might not sound all that bad. After all, what’s wrong with being nice to people and trying to help them out or make them happy? But people-pleasing generally goes beyond simple kindness. The dictionary defines it as “a person who has an emotional need...

5 Powerful Ways to Develop A Growth Mindset

5 Powerful Ways to Develop A Growth Mindset

In the video above, I share 5 simple tips for developing a growth mindset. If you’re ready to get beyond your negative mindset (your #1 enemy from success) and live the life you really want, keep reading. Your mind holds the power to help you succeed in any area of...

Stay Up to Date With The Latest News & Updates

Access Premium Tools

Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque

Join Our Newsletter

Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque

Follow Us

Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque

Share This