3-Day workshop of Millionaire Mind intesive 3
THE WORLD’S SIMPLIST, EASIEST AND MOST EFFECTIVE
MONEY MANAGEMENT METHOD
The most important part of money managing is separating your income into different accounts for specific purposes.
1. 10% Financial Freedom Account (FFA).
The time to spend your FFA capital is never.
The idea is to create a golden goose.
When you stop working, you get to spend the eggs (but never the goose).
2. 10% Long Term Savings for Spending (LTSS) Account.
3. 10% Education (EDUC) Account.
If you’re not growing, you are (automatically) dying.
“ If you think education is expensive, try ignorance.”--- Ben Franklin
4. 55% Necessities (NEC) Account.
If you can’t live on 55%, Simplify.
Wealthy people think long term. Poor people think short term.
5. 10% Play Account.
Rule: You must spend your Play Account monthly or quarterly.
6. 5% Give Account.
Note: If you choose to give 10% take the extra 5% from your NEC Account (and change NEC to 50%)
Your money can be kept in separate jars or separate bank and investment accounts.
Put your paycheck into one clearing account. From there, immediately write checks or make electronic transfers to your other accounts.