I was thinking about Stephen Covey's 4 quadrants of time management, which I read in his book 7 Habits of Highly Effective People. I think that this is not only applicable to managing our time but can also be used in managing our money as well.
(Image source: http://czarto.com/2012/04/24/four-quadrants-of-time/)
Q1 would be the demands that need to be fulfilled immediately. Food, medical emergencies, water and electricity bills. These are some of the things that we would face that are both important and are very urgent as they are required for our day-to-day survival.
Q2 would be the quadrant that I would like to highlight as one that we should focus on (just like in time management). These are the important things that we should be spending our money on. Books(if you're interested in finance books, you can look at my Interesting Books page), training, insurance, these are things that may ......
