Money Matters 101: My Own Saving System

Last time we were talking about "Money Jars" and how you can create your own system.
In case you've missed it, here's the link:

Money Matters 101: Savings for the Savvy Saver


The first time I've used the Money Jars system, I adopted the original format. And yes, I failed. I could not bear not using all of my money. I could not take the pressure of cutting my allowance. It took a while before I came back and did the whole thing again.


I went to this seminar and the speaker taught about the money jars. I already had an idea about it and failed on the first attempt. This time, he modified the system using a different approach. Excited, I went home with my new jars, started the next day and hoped for the best.


Now, I am going to share to you my Money Jars.

The Money Jars 

As you can see there are six of them, and there are percentages placed already in the lids. What is not shown here are the "affirmations" I wrote on the sides of some of the jars, which I will explain in a while.

The six jars are the following, in no particular order:

Financial Liberation Jar 

First is the Financial Liberation Jar. Three per cent of my income goes to this jar. This money will be used for future endeavors (investments). This is similar to the LTSS jar in my previous post.

A while ago I introduced you to the term "affirmations." These are sentences used to encourage you to go further. Here in my Financial Freedom Jar, it says "My money works hard for me and makes me more and more money!"

Next is the Tithe Jar. Tithe is defined as one-tenth of your income devoted to your religious offering. Blessings come when you give at least some part to the Lord (and willingly, with an open heart).

Tithe Jar

Next is the Yearly Income Jar. This is a tricky one. This is computed through your meal allowance for one day, meaning you have to place here the amount you spend on meals everyday. This is because if you get past this for one year, then you can never be hungry for a year (because you have saved your money for food for one day, for one year).

Yearly Income Jar

The affirmation I wrote for the Yearly income jar is "I always make decisions that are for the highest good of all concerned including myself."

Next is my most favorite jar, the Abundant Spending Jar. This is similar to the PLAY Jar from the previous post. It holds the same principle - I place three per cent of my income, and after exactly ONE MONTH, I empty this jar to buy anything I want.

Abundant Spending Jar

The affirmation for my Abundant Spending Jar is "Whenever I spend more money, more money comes to me." It's all abundance mindset.

Next is my I Always Have Money Jar (or my so-called Inheritance Jar). A lot of people are complaining everyday about not having money. I don't. It is because of this jar. Whenever I feel like I have no money, I just look at this jar. This jar is special because here I put one per cent of my income, and I never take money from this jar. This is my excess money jar. I do not take any money from it, hence it would be nice money for inheritance to my children, so the name Inheritance Jar was coined.

I Always Have Money Jar

The affirmation for my I Always Have Money Jar is similar to the one I explained above. "I always have money I will NEVER need."

The last one is the Giving Jar, similar to the GIVE Jar in the previous post. It is the money you give to the poor, the beggars, or if someone borrows from you. This is money you do not mind losing. That is why I give beggars a bigger "tip," I sort of "reimburse" it here.

Giving Jar

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There you go, my six Money Jars. For your information, I have already passed one year using this, and I have bought some things, invested, lent some money, gave to the church and to beggars, and other things. I can honestly say that I have made my life easier using this. It eases the burden of having to think too much where to allocate money.

How about you, have you created your system? It's never too late, take action NOW, and reap the benefits in the future.

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