Tips From MMI

As you have seen, I have been posting about my participation during the Millionaire Mind Intensive (MMI) in Kuala Lumpur.

One of the habits of millionaire is how to manage money. To manage money it needs determination. We are told to distribute our money in 6 jars. In this posting I am going to share what I can still remember about the jar and I had already taken my first step to buy the jar.

Jar 1 – Financial Freedom Account (FFA)- Put aside 10% of your income in this jar. Whatever money in this jar is to spearhead your Financial Freedom. From this jar spend only the profit and NOT the capital. The capital can be increased from time to time so that the profit can increase too.

Jar 2 – Long Term Saving For Spending (LTSS) Put 10% in this jar too. Money in this jar is for your spending. It is also advisable to separate this jar into 5% each. The first jar is for your major expenses such as your car, holidays etc. The second jar is for you to pay your debt, children’s education etc. Label the jar accordingly and if needed write the purpose of the respective jar.

Jar 3 – Education Jar (EDU) 10%. This education means its your own education for your self improvement. Use the funds in this jar to attend seminars, conferences, workshops and classes to improve your skills.

Jar 4 – Necessity Jar (NEC) 55% Funds in this jar is what makes you and your family survive daily. Use it to pay your rent, mortgages, food and your daily needs.

Jar 5 – Play Jar (PLAY) 10% This jar keeps your needs such as your extra clothing, toys, entertainment, eating out with your family etc.

Jar 6 – Give Jar (GIVE) 5% As a rule of nature whatever you give to people, you will get back more than what you gave. Use this jar for your donations, rewards etc.

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Six Jar to manage your money

Did I tell you 6 jar and its only 5 in the picture? Well, the Necessity Jar is missing. Actually that jar is my bank account. I better leave the most important part of my earning in the bank and when I need to spend, I will withdraw or use my debit card. I am NOT using a credit card anymore to avoid overspending.

Get Start On The First Step

T. Harv Eker speaks at a Millionaire Mind Inte...

T. Harv Eker speaks at a Millionaire Mind Intensive seminar in Burlingame, California. (Photo credit: Wikipedia)

I am on my way reading the book Secrets of the Millionaire Mind by T. Harv Eker and gets to link what he had written in his book is the same as what had been peresented at the Millionaire Mind Intensive (MMI) that I attended in early November 2013.  The latter was of Eker’s signature workshop held at various locations around the world.

I am a slow reader and only manage to read just a few pages daily. But at least I am reading and digesting some of his Millionaire Mind habits and practice.

Yesterday, I started with my first step to buy my six jar. Yes, its a physical jar and not an account. Well, of course to keep your money in a physical jar at home is riskier that keeping it in a bank because it need all the determination of NOT using the savings at all cost when the time of using it has not arrive. Except maybe the the Necessity jar since its the budget to survive daily.

Now back to the book, I am going to share Eker’s mind from his book from time to time on my postings, just to share with my readers. Luckily I received a free copy during Asia Internet Congress and it was sold at RM30.00 during the MMI.

Eker wrote about Wealth Principles and principle one is Your income can grow only to the extend you do.  In order to earn big money someone must have the “Money Blueprint”. It is what you have on the inside and on the outside. Both sides must be strong to support each other. Unsuccessful people remains unsuccessful because they are NOT ready for it from the inside. The inside is a foundation for wealth. Most people does not have the capacity to hold a large amount of money.

One example cited in his book is of an unexpected Lottery Winner who win big money overnight. The reward is outside is so strong that he/she can’t cope with it from the inside and will return to his/her state soon. That is return to the amount of money he/she can handle.

On the other hand self-made millionaire is on the opposite. Eker mentioned Doland Trump as an example. Even though he loses millions, he will be able to make his way back with a much bigger amount of money. When self-made millionaire loses he does not lose his most important ingredient ; the millionaire mind.  

Life phenomenon do not sway away from nature. Surviving is like a tree. There are two sections of every tree. The surface and the root or the visible and the invisible. When we see a tree that bear rich fruits we only think that the tree is healthy but we did not compliment what makes the tree bear such rich fruits; its roots. If the root is not strong to take up material that can produce good fruit. it can’t bear rich fruits. The root takes all the water and mineral from the ground before it can convert into fruits in its process. The same goes to millionaire minds. You have to be strong and good on your inside before you can be good on your outside.

“Millionaire Mind Intensive” Course

During my previous post I did mention about the book Secrets of the Millionaire Mind by T. Harv Eker.

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There’s an opportunity for me to own another copy of the same book if I attend a Millionaire Intensive Course from 8th to 10th November 2013 at Wisma MCA, Kuala Lumpur.  The course is worth RM325.00.

I had entered my details to redeem ‘Secrets Of The Millionaire Mind’ book as promoted by 8share.com and an opportunity to get a VIP ticket. Click the link and follow the Steps provided for an opportunity to be at the course too.