If you want to change your financial life, you have to change your financial system. There are only two financial systems that exists in this world: You are either a Hunter or a Rancher.
2 Financial Systems
ARE YOU A HUNTER?
The Hunter System
Many times, this leads to debt because borrowing has become a second nature to the person who has this system.
ARE YOU A RANCHER?
The Rancher System
How do you become a Rancher in your Finances? To acquire the Rancher System, follow this Seven-Jar Strategy…
Bro. Bo explaining the 7-Jar Strategy
7 Jar Strategy
Jar 7: Emancipation Fund (20% or More)
Your Emancipation Fund is for your Retirement. You can invest that 20% in paper assets, or business, or real estate.
Jar 6: Emergency Fund
How much should it be? Make it reach about three to six months of your salary. And put your Emergency Fund in the Bank—so you can withdraw it anytime.
Jar 5: Everyday Fund (70% Or Less)
This is your regular monthly expense.
For food, water, electricity, phone, fuel, etc…
If your income increases, your Everyday Fund should DECREASE.
Jar 4: Empower Fund (5% to 10%)
This is for short-term savings for specific dreams.
Jar 3: Enjoyment Fund (5%)
The Enjoyment Fund is for your wants. They’re not necessities. You can live without them. But you need to have this fund two avoid being in these two extremes:
- The Spender. The impulsive buyer. The shopaholic. The one-day millionaire.
- The Miser. The Scrooge. The pennypincher.
Jar 2: Education Fund (5%)
This fund will be used for you to grow your self, so you could grow your wealth more.
Jar 1: Eternity Fund (10% or more)
Tithing is the ultimate investment of all. It is your longest-term and safest investment in the world.
God is your Business Partner.
Be a Rancher. Not a Hunter.
Verses to Ponder
Proverbs 21:20
Precious treasure and oil are in a wise man’s dwelling, but a foolish man devours it.
1 Timothy 6:17
…put their hope in God, who richly provides us with everything for our enjoyment..
Proverbs 15:22
Plans go wrong for lack of advice; many advisers bring success.
3 John 2
Beloved, I pray that you may prosper in all things and be in health, just as your soul prospers.
Proverbs 3:9-10
Honor the Lord with your wealth and with the best part of everything you produce. Then he will fill your barns with grain, and your vats will overflow with good wine.
