The Managing Money IQ Matrix explores the intricacies of how to manage your money far more effectively to help you secure your financial future. If you desire to grasp control over your finances and begin building toward financial freedom, then the very first step you need to take is to get your financial life in order. And this mind map will help show you the way. It will, specifically, provide you with ideas on how to manage your finances more effectively.
It, for instance, introduces the concept of building an emergency fund. This is an emergency supply of money that you have at your disposal for paying unexpected bills. An emergency fund is at the heart of any sound financial management strategy. The map also delves into the basics of budgeting. It outlines the benefits and rules of budgeting and also provides you with a budgeting formula for managing your money more effectively. Working through this map will help you develop sound money management practices that will improve your financial position.
Here is a quick breakdown of each branch of the Managing Money mind map.
- The Basics of Money Management: The first branch of this map outlines the critical things you must focus on and the things you must avoid doing when it comes to managing your money. These are basic money management practices that we must all get into the habit of incorporating into our lives. Choosing not to adopt these practices will often lead to financial struggle.
- Emergency Fund Basics: The second branch of this map introduces you to the concept of an emergency fund. An emergency fund is very much like a savings fund you have stored aside for emergency expenses. Having an adequate amount of money in this fund is vital. Here, you will learn about the advantages of having an emergency fund, how to use an emergency fund, and what to avoid doing with your emergency fund.
- The Basics of Budgeting: The third branch of this map delves into the basics of budgeting. Budgeting is the process of allocating funds to specific types of expenses or categories of expenses. You can either do this on a weekly or monthly basis. The branch outlines the benefits of budgeting, the rules of budgeting, and also presents you with a budgeting formula you can use to manage your finances far more effectively.
- Budgeting Tips: The final branch of this map provides you with simple yet extremely useful guidelines that will help improve your budgeting practices and set you up for financial success.
This map provides a roadmap and framework for managing your money and 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 money management practices, and you will progressively develop an understanding of how to secure your financial future.
When you purchase the Managing Money 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.