HOW TO MANAGE MONEY WITH SIMPLE MONEY SYSTEM
HOW TO MANAGE MONEY WITH SIMPLE MONEY SYSTEM
Many people have a fear of having a lot or lack of money. According to many people money is almost equal to oxygen, and you cannot live without it.
Harv, in his book “The secrets of the millionaire mind,” says that “Rich people manage their money well. Poor people mismanage their money well”.
If you want to get wealthy, start making, keeping, investing, and managing your wealth.
Making and keeping wealth is not an issue, but if you fail to have the systems to manage it, you will lose it. 
If you follow the systems of managing money, you will get financial freedom. The systems do not take away your money freedom but enhance it.
You don’t have to wait until you have a lot of money to use the systems. Start as early as possible with the little you have.
Here are some of the world’s most straightforward money management systems.
Whether you will have financial success or failure will depend on how well you manage your money.
There are several ways that people mismanage their money. Failure to have a financial coach, not having a financial plan, not organizing their finances, and not taking financial literacy.
The following is an effective money management system.
50% of your income caters to your daily expenses.
Always use only 50% of your salary to pay your daily bills and expenses. Make sure your expenses do not exceed that amount.
20% to cater to investment.
This is what goes to your savings and investment kitty every month.
10% to go to learning both skill development and personal learning.
Invest in upgrading your skills so that you can earn more.
10% to go to long-term savings to spend on a rainy day,
Life is unpredictable and therefore it’s important to save for rough days.
5% goes to the giving account.
In life you will always encounter people who need your help in one way or another. You will use this kitty of 5% to help your relatives and those in need.
Financial freedom
You have financial freedom when your passive income exceeds the lifestyle you want.
You should design your financial plan to get financial freedom.
To have money management systems is equal to having financial freedom. Your financial future is in your hands.
Use this financial management system, and you will obtain financial freedom.