How To Manage Your Money So You Can Become Financially Free

If you want to become financially independent than it is vital that you become a great money manager. The simple reality of things is rich people manage their money well and poor people mismanage their money well. 


I cant stress enough how important it is that you become an excellent money manager. So I'm going to propose to you today what I learned from T. Harv Eker. What he states is you should open  6 separate accounts. The first one you should open is your financial freedom account. "Open a separate bank account designated your financial freedom account. Put 10 percent of every dollar you receive (after taxes) into this fund. This money is only to be used for investments and buying or creating passive-income streams. The job of this account is to build a golden goose that lays golden eggs called passive income. And when do you get to spend this money? Never! It is never spent- only invested. Eventually, when you retire, you get to spend the income from the fund (the eggs), but never the principle itself. In this way, it always keeps growing and you can never go broke."


The other five account he recommended you should open are as follows:


10 percent into your play account: You get to spend this money however you choose. He states that the reason people don't become good money managers is they never get to spend and all they do is save and invest and in time that takes a strain on them so they just break the habit and begin to spend away. Therefore, he recommends you open up a play account and invest 10% of you income from whatever income sources you have into this account. 


10 percent into your long-term savings for spending account.


10 percent into your education account. This account is to be used to purchase books, audio programs, DVD sets which you can utilize to better yourself.


50 percent into your necessities account.


10 percent into your give account.


The next time you get paid, invest the recommended percentage into the above accounts and you will be on your way to financial freedom!