27 Jan Pays start!
With finally starting school, mum and dad said I can get paid. YEAH!
Mum and dad have setup a system that they learnt from some books that they read (“The Richest Man in Babylon” by George Classen and “Secrets of the Millionare Mind” by T. Harv Eker). My dad tends to read a lot of books about how to be more successful in life in relation to your lifestyle, finances and general well being.
I prefer to read books about fairies and princesses.
Based on Dad's reading these book, our family has setup a money management system, which is to have your money split up as follows:
1) 55% to a necessities jar;
2) 5% give away;
3) 10% towards long term savings for spending;
4) 10% towards your financial freedom account;
5) 10% towards education;
6) 10% towards a play jar.
My sisters have been doing this while they have been at school over the last few years, and I am really excited about being able to be paid as well.
It will be interesting to see how I allocate my finances.