Many know the important of Money management but some how do not have the discipline to stay on the course and hit the milestone that you desire. I am lucky enough attend seminar which talk about Jar system to manage your money which is completely make sense.
For percentage wise you may adjust accordingly but it is best to follow as the picture above.
I didnt give that much though and not always give, hence you have to weight your own ability and personal core value. I reduce my PLAY, GIVE and EDU Jar but increase in FFA.
NEC which is a Jar that we cant get rid but we can reduce it, the goal during young is to increase the FFA so that we can achieve financial freedom early.
Currently, I am exploring working on way to covert my NEC to become part of my FFA.
Example, since I am going to purchase detergent every month or once in 2 months, might as well I turn this into passive income generating machine.
But first and foremost, dont increase your NEC in order to build your FFA. Maintain it and choose the different product. I has been looking god quality product yet give me reasonable price product. Most MLM model product is good but most of he time it does not fit into my NEC Value for money principle.
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