How to Make A Budget Using the 6 Jars Budgeting Method | Secrets of the Millionaire Mind Summary

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How to Make A Budget Using the 6 Jars Budgeting Method | Secrets of the Millionaire Mind

There's no doubting the fact that we all view and handle money differently and that's illustrated by the fact that there are so many different types of budgets out there to help us accomplish roughly the same goal, to teach us what is worth spending money on and to simultaneously make sure we're living on less than we make and that our futures are provided for.

Regardless of whether you're working with a detailed budget, a reverse budget, a percentage budget, an automatic budget, a value or time-based budget, some sort of custom budget they're all working towards that same goal.

Today we're going to be taking a look at one more percentage based budget known as the 6 jars budgeting method. We're going to be talking about what the 6 jars budgeting method is, as well as what I like about it, what I think should be kept in mind while using it, who this budget would be particularly good for and how it could possibly fail.

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#Budgeting #SavingMoney #6Jars

Disclaimers: All opinions are my own, sponsors are acknowledged. Links in the description are typically affiliate links that let you help support the channel at no extra cost to you.

[josetteskinner]

Wow! Literally just bought this book last week at BAM. I am enjoying the read so far.

[drowell]

I love the breakdown in all of your videos. Thank you for making these topics understandable

[tanyailieva]

Very helpful video. I love the story in drawings. Thank you very much for producing it!

[bollywoodtalks]

THANKYOU FOR SUC AN EDUCATIONAL VIDEO VERY HELPFUL IN MANAGING FINANCE!!!🙏🙏🙏

[LordRocco]

I come back to your videos time and time again, perfect blend of knowledge and entertainment. You rock Daniel!

[BradFinn]

Great Video. Thank you so much for a different look at budgeting. Def going to look into the 6 jar method

[matthewclavette]

They seem like a good baseline to fallow. For people don't know where to start. I like it Daniel keep up the good work.

[PetarStamenkovic]

I really appreciate that giving is on the budget. While we all strive to better ourselves and our position, we shouldn't ignore those who cant.

[InvestingBookSummaries]

Budgeting is so hard for some people to do, great video!

[waldBestMusics]

i have been following your videos some months now, thx for your videos, i am enjoying them alot, and thx for the updates and encouragements to invest in stocks. One questions that i have, and i am searching for a answer for a long time, how to invest in dividends and at the same save with these dividends to pay for renovation for the house ? how would you handle this so that the portfolio grows but you can still use it to have a better house?

[SouthernVaBelle]

I’ve been using this and the zero based budget inside of each jar it’s been working well for me

[trinialday]

This is a really cool framework; I'll do some more research on it. Thank you so much for educating us on the necessities.

[Nateun]

What happened to your Savings Rate video? I tried to share it with a co-worker, but it appears to no longer be on your page...

[AndyHausmannschannel]

Hi there, Next Level Life! Thank you for uploading this. Do you use 6 actual, physical jars or do you use an app like MoneyOi?

[curbjoe]

I love this system and helped me for years! However, I have a question regarding using this system when growing a business. I currently put 90% of my salary into growing my business for my goal of reaching 6 figures in revenue. How should I proceed with budgeting money? I loved using the money system when I just had a 9-5 but growing a business requires so much capital, any suggestions? Thanks in advance.

[heaty]

i have 12 bucks in the bank and i believe my monthly fee is taking it tomorrow

[mauriciobayuelo]

I humbly suggest you to do an Spanish version of this video... a lot of people will like this content ;) ... This video is really cool.

[snowflakebristow]

Are these percentages based off of gross income or take home? For example my 401k that is pretax.

[theoneheretosty]

Are there any videos taken more from a family angle rather than starting from younger stage?

[HanganuPetruAlin]

OK.. this works for some one from U.S.A. but how this could work from some one from a pour country from U.E. like Romania or Bulgaria where the 'Necessities' jar usually pass 70% of the FAMILY income...P.S. the idea is grate, thank you for the video.