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Try the ‘5 jars’ strategy

By Daniel Francis

In a recent reflection on my life’s goals, I embarked on a transformative journey that I mentioned in an earlier article that began with fitness and eventually led me to explore the intricate landscape of personal finance.

My exploration brought me to a book that profoundly altered my perspective, 5 Wealth Secrets 96% of us don’t know by Craig Hill.

At that time, I considered myself a ‘broke Catholic’ not only due to my financial struggles but also my lack of financial knowledge. This book not only provided valuable insights into money management but intriguingly, it used biblical principles to underscore its teachings.

The author eloquently outlined a practical approach to managing one’s finances by allocating them into “5 Jars”. These jars represent various categories for your income once you receive your salary.

Here’s the breakdown:

  1. Expenses: 50 per cent
  2. Investments: 20 per cent
  3. Savings: 10 per cent
  4. Tithes: 10 per cent
  5. Charity: 10 per cent

The startling revelation is that 96 per cent of individuals tend to put all their money into a single jar, and as a consequence, they often spend everything without saving or investing for the future.

Only the remaining 4 per cent wisely distribute their earnings among these different jars, ensuring the well-being of their financial future.

It’s important to note that the percentages can be adjusted to accommodate individual circumstances, but the key is to allocate funds to each category.

Initially, I harboured reservations about allocating a significant portion of my income to Tithes and Charity. You may be feeling the same way, thinking, “That’s a substantial amount to allocate to something that doesn’t provide direct benefits to me.”

However, the truth is quite the opposite. Generosity and giving have a way of returning tenfold. When you believe in abundance, giving freely becomes a source of attracting even more abundance. It’s an experience that cannot be fully quantified; it can only be understood through practice.

Another profound principle from the book that resonated deeply with me is the concept of legacy—leaving an inheritance for your children’s children.

This principle finds its roots in Proverbs 13:22: “A good man leaves an inheritance for his children’s children.” It underscores the responsibility of a good man to set aside resources for future generations, ensuring their financial well-being.

In the past, mortgages as we know them today didn’t exist. Families raised their children with a solid understanding of financial responsibility, and parents provided the resources needed to start their own homes.

Communities often came together to support newlyweds by building their homes collectively—a testament to the power of unity. The author ingeniously adapted this concept, inspired by Proverbs 13:22.

By implementing the “5 Jars” strategy and diligently working to increase your wealth, you gift your children with the means to purchase a house or make a down payment.

This financial gift alleviates the burden of mortgages, enabling your children to create a solid foundation for their families. The goal is to establish a family trust where each generation contributes to secure the financial future of their offspring.

However, it’s crucial not to overlook the significance of financial education. While this method lightens the financial load, it’s still your responsibility to teach your children about money management.

I, too, was once stubborn and disregarded my parents’ financial advice, but understanding that this responsibility extends to the well-being of my future children made it a matter of great importance.

The principle of a Good Man, as illuminated by Proverbs 13:22, should not be confined to individuals alone but should be embraced by all men and, indeed, all families.

It offers a transformative path to financial wisdom and a legacy-building journey that aligns with the teachings of our Catholic faith.


Daniel Francis is a millennial helping other millennials. He is a two-time author of the books The Millennial Mind and The Millennial Experience, and an entrepreneur. Over the past four years, he has served as a Personal Development Coach whose work targets Millennials and helps them tap into their full potential. He is also a Self-publishing coach and has guided hundreds on self-publishing their book successfully.

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