The Eliminating Debt IQ Matrix explores how to progressively and effectively work your way out of debt. Statistically speaking, the chances are that you are currently in financial debt. You might have a student loan, a car loan, a home loan, or credit card debt to pay off. For some people, debt isn’t much of a problem. As long as more income is coming in each month than is leaving your pocket, then you’re probably doing fine, for now. Until that layoff or that unexpected crisis, car accident, or horrendous medical bill arrives.
Most people can successfully manage small amounts of debt. However, when something unexpected happens, that makes us overextend ourselves financially, that’s when we struggle to stay afloat. That is when small debts grow ever so larger and put us into financial strife. But, if you’re ready to work your way out of debt, then this map will show you a roadmap on how to do just that.
The mind map specifically walks you through the mindset you must learn to cultivate to eliminate debt. It highlights the consequences of living with debt and the impact this has on our lives. The map then breaks down a seven-step debt elimination process you can use to manage your debt more effectively. It then provides you with further guidelines for eliminating your debt using sound financial principles. And it concludes by walking you through how to make better and more intelligent financial decisions. Working through this map will help you develop the necessary habits and skills for getting out of debt and improving your financial position.
Here is a quick breakdown of each branch of the Eliminating Debt mind map.
- Debt Introduction: The first branch of this map outlines the debt elimination mindset you must cultivate to get yourself out of debt. This branch also breaks down the consequences of debt and the negative impact it has on people’s lives.
- Debt Elimination Process: The second branch of this map provides an overview of the seven-step debt elimination process. The steps of this process include (1) acknowledging your debt problem, (2) taking inventory of your debt, (3) eliminating non-essential expenses, (4) creating a realistic budget and spending plan, (5) selling off unnecessary items, (6) looking at ways to increase your income, and (7) finding adequate support. Use this process to help you manage your debts more effectively in the short-term and to eliminate debt in the long-term.
- Debt Elimination Tips: The fourth branch of this map delves into several useful things you can begin doing each day to save money, eliminate debt, and to manage your finances. Here you are also provided with valuable questions that will encourage you to think more frugally about your debt and lifestyle.
- From Debt to Freedom: The final branch of this map provides you with some sound financial guidelines. These guidelines will help you make rational financial decisions for removing debt from your life and for building the foundations for financial freedom.
This map provides a roadmap and framework for getting out of financial debt and for securing your financial future. Referencing it regularly and committing it to memory will help you to embed these concepts and ideas into your subconscious mind.
A mind map, of course, does this beautifully because it mirrors the synaptic connections made in your brain as you try to establish new habits of thought and behavior. It brings together key concepts and ideas that help your brain to fully integrate and process this information. The brain, subsequently, rewires itself as it attempts to establish new habits of mind. It’s an ideal tool for creating lasting change and transformation.
Stick with these principles, memorize and incorporate them into your debt elimination practices, and you will progressively develop the necessary habits-of-mind to eliminate debt and secure your financial future.
When you purchase the Eliminating Debt IQ Matrix you will receive:
- A PDF copy of the IQ Matrix, which you can use for printing in high resolution.
- A JPG image file of the IQ Matrix, which is ideal for viewing on tablets and mobile devices.
- A Desktop Background version of the map you can use for reference on your computer.
- A MindManager file for those who wish to edit the content of the IQ Matrix.
Additional visual resources and variations of this IQ Matrix might be added to your account page at no extra cost in the future.