2838: Learning to Budget With a Money Jar System by Steve Martile with Get Rich Slowly on Financial Freedom

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Self-improvement, Education, Business

4.5 • 1.3K Ratings

🗓️ 21 August 2024

⏱️ 10 minutes

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Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2838: Managing money creates freedom, not restrictions, as Steve Martile emphasizes in his practical guide on using the JARS system for budgeting. By organizing finances into specific categories, Martile demonstrates how simple changes can lead to significant financial growth, peace in relationships, and even the ability to enjoy life’s luxuries without guilt. Read along with the original article(s) here: https://www.getrichslowly.org/learning-to-budget-with-the-jars-system/ Quotes to ponder: "Managing money doesn’t restrict freedom, it creates freedom." "Once we started to manage our money, I sold the 350Z. After our first year, our net worth increased by a surprising 45%." "The real trick to managing your money is not what you do - it’s how you do it." Episode references: Secrets of the Millionaire Mind: https://www.amazon.com/Secrets-Millionaire-Mind-Mastering-Wealth/dp/0060763280 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is optimal finance daily learning to budget with a money jar system by Steve Martile with
0:07.6	Get Rich Slowly.org and I'm your host and personal finance enthusiasts Diana Merriam.
0:14.1	Without further ado, let's get right to today's post
0:17.2	and continue optimizing your life.
0:20.1	Learning to Budget with a Money Jar System by Steve Martile with Get Rich Slowly.
0:30.0	Managing money doesn't restrict freedom. It creates freedom.
0:35.0	Well that's probably not the first time you've heard this.
0:38.0	You've got to start managing your money if you want to create financial abundance.
0:42.0	I've started doing so in 2006 after reading T Harv
0:47.1	Eckers' secrets of the millionaire mind. Before then, my wife and I were pretty random with our spending habits.
0:55.0	We ran a pretty high tab every month and had nothing to show for it.
0:59.0	At the time, I was driving a brand new Nissan 350 Z which cost me an $800 payment each month.
1:08.0	That didn't include insurance or gas that was just the payment on the car.
1:13.0	JARS, the Money JARS System.
1:17.0	Then we started using the JARS money management system,
1:21.0	discussed in secrets of the millionaire mind. And what are the jars? The jars are just that,
1:27.1	plastic jars. The jars themselves aren't actually that important. What's more important is the money management
1:34.3	system behind them. We actually bought the jars as a visual reminder of where to put
1:39.7	our money when we manage it, but we manage it from a set of bank accounts.
1:45.2	Managing your money reaps rewards.
1:48.5	Once we started to manage our money, I sold the 350Z. After our first year, without any significant change in our income and all expenses being treated equal,
1:58.0	our net worth increased by a surprising 45%.
	...

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