Personal finance planner - Mind Map
Use this mind map to plan your budget while detailing your expenses, savings, investments, etc. Create it to make sure that you will be prepared for unexpected situations or understand if you will be able to make certain expenses.
Keywords: personal life, budget planning, savings, investments
How to use a personal finance planer
Use this mind map to learn how to make a budget plan and assure your financial well-being. This plan will help you prepare for unexpected expenses and understand where it is wise to invest your money. Calculate your income, expenses, and savings, plan your retirement, choose your insurance and decide where you want to invest your money to maximize your profits.
Budget Planning
Keywords: budget, financial plan, savings, investing, costs
Budgeting is the process of planning and creating a detailed scheme on how you will spend and/or invest the money you have.
Expenses
Your expenses are the necessities you are using against cost.
These are recurrent expenses as you would need to pay monthly (rent, bills, etc.) according to your usage.
Bills
Rent
Shopping
Income
Income represents the payment you get from your work.
For most people, income is the same for a longer time. So you need to estimate your next year's income to make a financial plan.
Estimate Income
Annual Income
Investment
If you want higher interest rates than the savings can offer you, you can invest your money.
Investing is not an easy decision as you will bear the high risk with the possibility of loss.
You should do an analysis of different investment programs to maximize your profits.
Venture Capital
Stable return
Insurance
Insurance is a kind of protection against loss. Anyone can face accidents, and insurance would take the pressure off, as well as support your family.
Health
House
Retirement
Plan your retirement and put aside separately for this budget.
Budget
Retirement Plan
Savings/Deposit
A deposit is money you put aside for later use.
If you choose to deposit your money in a bank for a longer period, you can get back a stable interest rate at the end of that period.
You should also know that savings will fluctuate, sometimes you will need to use them sometimes you will be able to put aside more. However, you should maintain the habit of saving money.
How to Maintain?
House/Car repair
Medical reasons
Why use a Mindomo mind map template?
Mind maps help you brainstorm, establish relationships between concepts, organize and generate ideas.
However, mind map templates offer an easier way to get started, as they are frameworks that contain information about a specific subject with guiding instructions. In essence, mind map templates ensure the structure that combines all the elements of a specific subject and serves as a starting point for your personal mind map. They are a resource for providing a practical solution to create a mind map on a particular topic, either for business or education.
Mindomo brings you smart mind map templates that allow you to function and think effortlessly.
A template has various functionalities:
Descriptive topics
Topics with background text
Default branch
Removing the template data
You can choose from a variety of mind map templates from Mindomo's business or educational accounts, or you can create your own mind map templates from scratch. Any mind map can be transformed into a mind map template map by adding further guiding notes to one of its topics.
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