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Whiteboard: What Is It Good For?

Absolutely everything!

Whiteboards Make Planning Easy

Planning is a key element to success and something that we emphasize here at The Wealth Artisan.  Without planning you wouldn’t know where your money was going, what your investments would be, and where you would be financially at a certain given time in the future.  A whiteboard doesn’t allow you to see the future but it allows you to forecast what things should look like given the scenarios you portend.

If you are a visual person then it helps you to see your finances rather than trying to visualize in your head.  This comes in very handy when trying to visualize cash flows.  A good example is if you have monthly and quarterly investments.  That can get a bit confusing to visualize in your head, but a simple jot onto the whiteboard and everything is OK.

Whiteboards Help You To Visualize

Some people are very visual, including us, so whiteboards make it easy for us to see what we are doing.  It helps you to visualize cash flows, investment ideas, and track spending.  The example we provided above is if you have monthly and quarterly investments.  Visualizing these in your head can get a bit cumbersome after the first quarter, so writing them down would be a great way to see them.  Additionally you can use white boards for:

  • Tracking Spending
  • Important Dates
  • Tracking Income Streams
  • Tracking Goals
  • Tracking Debt

There is nothing to stop you from what you put on your white board, and with organization and planning, it can quickly become your most important tool.

Whiteboards Are Convenient

Ordinarily, we like to do a monthly whiteboard with all of our plans on it for that month.  This is very convenient because once you are done for the month you just simply have to wipe everything off and begin anew.  Whiteboards make this terribly convenient and, while computers are convenient, we tend to be much faster with our hands than a computer mouse.  Calculations and spreadsheets we will still do on computers, but idea jotting, and quick flow charts will always go onto the whiteboard.

The most convenient part of the whiteboard is that you can just wipe it clean once you are done.  If you’re not careful, this can be detrimental, but this is ordinarily a plus.

What about you, do you use whiteboards or do you have plans to use whiteboard?  How do you use your whiteboard and what tips can you offer?

Photo Credit: © BrokenSphere / Wikimedia Common

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