This is a timely article, since I'm also currently part of @taramcmullin's Summer Seminar which is focused on systems thinking. In general I work better with visual layouts than linear spreadsheets, so I'm excited about the idea of both making the map and then looking at various loops, balancing, stocks, etc...
I made both a spreadsheet template and a slightly more visual worksheet for the money map, hopefully to accommodate various styles. I also encourage you to take the idea wherever it works for you. If making a collage or drawing an actual map help you understand your finances, do it! We can be systems thinkers and planners without being dull :)
My simple method is to just occasionally write down everything I make and spend in a calendar month. Everything! Mortgage to pack of gum. Did I make more or spend more? What should I/can I change?
Folks use the term to mean different things, but the main things I'm trying to avoid (and I think it's the same for Ramit) are 1) setting restrictive spending limits and 2) tracking every dollar you spend. A money map can be helpful for people who want a system to make financial plans and decisions but don't want to rely on the restriction and discipline built into budgets.
This is a timely article, since I'm also currently part of @taramcmullin's Summer Seminar which is focused on systems thinking. In general I work better with visual layouts than linear spreadsheets, so I'm excited about the idea of both making the map and then looking at various loops, balancing, stocks, etc...
Yay for working with Tara 💖
I made both a spreadsheet template and a slightly more visual worksheet for the money map, hopefully to accommodate various styles. I also encourage you to take the idea wherever it works for you. If making a collage or drawing an actual map help you understand your finances, do it! We can be systems thinkers and planners without being dull :)
My simple method is to just occasionally write down everything I make and spend in a calendar month. Everything! Mortgage to pack of gum. Did I make more or spend more? What should I/can I change?
Keep it simple, and stick with whatever works for you!
much like ramit's conscious spending plan, i truly do not understand how this is different from a budget 😆
Folks use the term to mean different things, but the main things I'm trying to avoid (and I think it's the same for Ramit) are 1) setting restrictive spending limits and 2) tracking every dollar you spend. A money map can be helpful for people who want a system to make financial plans and decisions but don't want to rely on the restriction and discipline built into budgets.
that makes sense! it just seems to rely on a really narrow definition of what a budget is. whatever works! ☺️