SHAPE A FINANCIAL PLAN WITH MIND MAPPING
For some people, coming up with a well-laid financial plan is an enormous, tedious process. But to ensure a sound financial future, one must account all factors such as his overall financial situation and health condition. Creating a good financial plan entails careful planning, that includes mind planning can make this easier. Mind mapping enables a person to organize and collate information, a great tool for brainstorming and keeping related information together. In essence, it helps you use all parts of your brain to assimilate information.
Financial planning is complex in nature, so mind maps can help you understand the issues encompassing your finances and the goals you desire to achieve.
There are two ways to create a mind map: pen and paper or software programs. You can do it yourself or with the help of a financial advisor. If you opt to use a software, you can find one online. Some examples of mind mapping softwares include MindManager, MindManager, and MindMeister.
If you want to go old school, go ahead. To begin with, write your name in the middle of the paper and draw a circle around it. Draw several lines from your name, leading to different facets of your plan such as family members, investments, and risk management. Next, fill in the components of each of these aspects by drawing another line from the main idea. Continue it until you run out of ideas.
You will find ideas related to each other. If that is the case, you may connect those with a dotted line to display its relation. To make this more interesting, add colors and images. You can assign a particular color to each item. Many people are visually oriented; hence, they get more motivated by pictures than words.
Now that you have visualized your financial plan, it is about time to make it a living document. Consult a financial advisor to materialize your plans. Also, you will experience changes through the years; update the map. Your mind map is suppose to evolve as your grow older. It is advisable to review it every year. That way, you can tick each goal off faster.
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