Learn How to Manage Your Money by Following the Tips that this Influencer Tells You
Sunday April 26, 2020,
3 min Read
Learning how to properly manage money sounds like a pretty difficult challenge. But there are some pretty good methods to do it without much hassle.
Influencer Shivam Singh uses a system called "the six vases", a technique that aims to achieve your financial freedom and is somewhat related to the famous law of attraction.
1.- What is it About?
The system of the six vases is a technique created by T. Harv Eker, writer of books such as " The secrets of the millionaire mind", and consists in that each income you receive, you are going to divide it into six parts with different percentages and purposes.
This habit of managing your money is related to the law of attraction because according to the Influencer in his video, the writer says that the Universe will give you more money if you start managing it correctly.
To start, Shivam recommends you do it with the first half of your income and the other half if you use it as you normally do. This is to gradually create this habit until you can do it with 100% of your money.
2.- The Needs
For the first vase, you will use 55% of the income you receive and these will go only to cover your needs: Food, clothing, services, taxes, etc.
That is to say, anything that you consider really important to be able to live day by day. For this, it is very necessary that you make a kind of list to know for sure what you are going to need during the month so that later you do not see yourself in the need to touch the money from other vases.
3.- In The Long Term
In another vase you are going to put 10% of your income and this money will be in order to save for a long period of time until you get enough money to pay for anything you want: attending a concert, a car, a trip, etc.
However, Shivam also considers this as the "vase of emergencies" and is where you will get the money to pay for something that arises unexpectedly, such as a medical emergency, if your car is damaged, among others.
4.- For Fun!
For this vase of fun or game, 10% of your income will go and you will use it for any activity you like the most: going to a restaurant, to the movies, shopping, etc.
The idea of this vase is that you can spend everything until you leave it empty, without feeling guilty, because it is precisely intended for you to enjoy.
10% will go in this vase and it will only be to invest in something that will later leave you more income. That is, if you have in mind to sell cookies, you can use this money and what you have produced from that sale, you will leave it again in the vase. The idea is that he always has money.
Another 10% will go to your education, to any course, workshop, congress, or diploma that you want to do to train.
This is a part of your income that will help you be much more prepared to face new academic, professional, and even extracurricular challenges.
Giving is also important, so the last 5% of your income will go to this cause, either for a donation you want to make or to buy something from someone else. The idea is to be able to understand that giving to others honestly and sharing with them is also a fundamental part.