For the past years, Liza and I were into saving money and living frugal lives. We often talk, share and encourage each other on how we can build our wealth. Then one day we saw Miriam Quiambao in her recent interview with ANC about her money strategy – 8 Jar System.
Everyone knows Miriam Quiambao as one of the Philippines beauty queens but we saw a different side of her on that interview which inspired us to start this blog and share our money saving tips.
On that interview Miriam Quiambao shared her 8 Jar System on savings and investing. Each of the 8 jars represents a particular purpose where she puts her money.
Miriam Quiambao 8 Money Jars System:
Jar 1: Tithe (10%)
Jar 2: Growth (20%)
Jar 3: Tax (10% or 15%)
Jar 4: Learn (10%)
Jar 5: Live (35%)
Jar 6: Save (5%)
Jar 7: Play (5%)
Jar 8: Share (5%)
Percentages on these jars can be adjusted based on your needs and lifestyle. By the way, those jars are just for illustration purposes so that you can easily visualize and manage your money and savings. You can opt to use envelopes (which I use) or open small bank accounts instead of Jars and manage them manually or via online banking. What’s important is that you should have discipline and strong will if you want to adopt Miriam Quiambao 8 Jar system or any money saving systems in order for you to succeed and reach financial freedom.
If you want to find out more about Miriam Quaimbao 8 Jars System and how saving money NOW can help you in the future watch this segment of Kapuso Mo, Jessica Soho about money savings.