This money is only for investments, 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 spend this money?
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NEVER! NEVER! NEVER! NEVER! NEVER! NEVER! NEVER! NEVER! NEVER!
It's never spent. Only invested.
Eventually, when you retire, you get to spend the income from your Financial Freedom Fund, but never the principal itself. This way, it keeps growing and you can never go broke.
Many of my students have had amazing stories to tell about their experiences with this method.
Some have even gone from bankruptcy to financial freedom just using this method.
Even if you only have $1 --manage that dollar. The principle of managing you money is more important than the amount you manage.
One of the biggest secrets to managing money is balance. On one side, you want to save enough to invest. On the other side, you want to put 10% into a "play" account.
Why?
Because you can't affect one part of your life without affecting the other.
If you only save, save, save, your logical mind might be happy, but your inner spirit will feel deprived. Eventually, this fun-loving part of you will say "Enough! I want some attention too," and sabotage your results.
But if you only spend, you wind up not enjoying the things you spend your money on and feeling guilty. The guilt will cause you to overspend even more to make you feel better. And it might work for a while. But then you're back to guilt and shame.
The only way out of the vicious cycle is to learn how to manage your money in a way that works.
So have a play account specifically for that purpose. It's to nurture yourself.
I want you to BLOW that money every month. That's right, blow it! On an extravagant restaurant and champagne. On renting a boat for the day. Or staying in a high-class hotel for a night of fun and frolic.
The only way most of us will stay with a savings and money management plan is with a playing plan that will reward us for our efforts.
The play account is to strengthen your "receiving" muscle. Remember how I said rich people are excellent receivers?
It also makes managing your money a whole lot more fun.
In addition to your Play Account and your Financial Freedom Account, I advise you to create four more accounts:
10% into your Long-Term Savings for Spending Account
10% into your Education Account
50% into your Necessities Account
10% into your Give Account
Again, the poor think getting rich is all about income --that you have to earn a fortune to get rich.
NONSENSE!
If you follow this program, you can become financially free on a relatively small income.
If you mismanage your money, you can't become financially free even on a huge income.
I love hearing graduates of the Millionaire Mind Intensive share how much more confident they feel around money, success and themselves once they begin managing their money properly. The best part is hearing how other parts of their lives improve.
Money is a big part of your life, and when you learn how to get your finances under control, all areas of your life --your relationships, your health, your happiness --will soar.
Action #1
Open your Financial Freedom Account at the bank. Deposit 10% of all your after-tax income. And DON'T TOUCH THIS MONEY! It's only to be invested to produce passive income for your retirement.
Action #2
Create a Financial Freedom jar in your home and deposit money into it every day. It could be $10, $5, $1, a single penny, or all your loose change. Again, this will put daily attention on your financial freedom. REMEMBER: Where attention goes, energy flows and results show.
Action #3
Open your Play Account at the bank, or have a Play Account jar at home where you deposit 10% of all your income.
In addition, open four more accounts and deposit the following percentages into each:
10% into your Long-Term Savings for Spending Account
10% into your Education Account
50% into your Necessities Account
10% into your Give Account
Action #4
Whatever money you have, begin managing it now. Do not wait another day. Even if you only have a dollar, manage that dollar. Take ten cents and put it into your Financial Freedom Account jar. Another ten cents goes into your Play jar. This action alone will send a message to the universe that you are ready for more money.
Action #5
-Declaration
Put your hand on your heart and say,
"I am an excellent money manager."
Touch your head and say..."I have a millionaire mind."
Good job.
Now practice this principle over the next 30 days and watch your mind, thoughts and financial life transform.
For your freedom,
T. Harv Eker
P.S. The Millionaire Mind Intensive is where we can really work with you and change your money blueprint on a deeper and more permanent level.
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