Like so many of us in business, I love a good vision board.
But we can’t just make a vision board and expect it all to drop into our laps.
So that’s what we’re talking in this week’s blog…HOW to find the money, to build your dream!
First off – what is a vision board? How does it work? And why do you use one?
{Scroll down to a few lines if you already have a vision board – like me – and just want to know how to pay for it!}.
If you’ve never made a vision board before, it’s pretty simple.
You just take a board (which could just be a big sheet of paper – you can even do it online or just stick them up together on your wall) and cover it with pictures of everything you want to do, be and have in your life.
It’s an incredibly effective way to get clarity and focus on your goals.
When we get clear about what we want – the physical things, people in our lives and how we want to feel – we become naturally drawn to the opportunities that support our vision and push us towards our goals.
So far, so good.
But whatever your dream or goal is – it’s likely you’ll need some money to make it happen.
Which means you need a plan!
A clear plan (on paper) for each of the things you want in your life and business. So you can take small steps every day, towards at least one of them.
It might be saving for the actual thing – a new car, holiday or deposit for your dream home.
For that new training course you really want to do. Or buying equipment to start a new business, skill or hobby.
So let’s get into HOW to find the money, to make your vision board your reality!
Step #1. How much money do you need? And by when?
Get as clear as you can about the thing you want, why AND how much it will cost you.
Do you need the money in a lump? Or a set amount each year?
Is it one big lump? Or a bit now to get started – and then a bigger lump to scale, further down the line?
Do your research, rather than assuming what you think it will cost.
If the amount you need ends up being more than you thought, it can be really demotivating and knock you off track.
Or if it’s actually going to cost less than you thought, you could make your vision board happen a whole lot faster!
Step #2. Finding the money.
I’m a great believer in a budget planner. If you don’t have one already, you can download one FREE here in our Facebook group (just click the ‘files’ tab!).
But you can do it on an app or just on a bit of A4 paper, if you need to.
- Add up how much money you have coming in each month (every penny, from all sources).
- Deduct all your essentials – like food, bills, direct debits and petrol.
- Deduct money for the nice to have stuff – like clothes, meals out and haircuts.
- And then deduct anything other big things you pay for once a year (like Christmas, summer holidays, car insurance) – divide the amount by 12 and add it to your budget planner.
All being well, when you take the outgoing off the incoming, you should have some money left over.
It might be £30, £200 or £900.
The actual figure doesn’t matter at this stage – but now you have some money to put towards the things on your vision board.
The things in your life that are MOST important to you.
{If your budget planner shows a negative figure, you’re not alone! We need to chat about getting it resolved for you asap – here’s where you can reach me.}
Step #3. Once you have this ‘spare‘ money – how much of it do you want to put towards your dream?
A third? Half? All of it?
Here’s how to figure it out:
- If you don’t have an emergency fund, you could put 50% towards that and 50% in your dream fund. There’s nothing more demotivating than needing to raid your dream fund, because your car needs a new exhaust or the boiler breaks down!
- If you have consumer debt (like credit cards, loans or overdrafts) – could use 1/3 to clear your debt, 1/3 into your emergency fund and 1/3 into your dream fund.
- If you’re one of those financially organised people who already has 3-6 months living expenses in a savings account, and no consumer debt – divert all of it into your dream fund if you want to!
For each of these savings goals, you’ll need a separate account or ‘money pot’.
So either open a new account with your bank (easy to do online) or dig out the details of an old account that you never got around to closing and use that.
Some of the new online banks now even have separate money pots within one current account, that you portion your money into with their app.
Step #4. AUTOMATE IT!
Set up an automated payment (direct debit or standing order) on THE DAY YOU GET PAID into your savings accounts – before you can spend it on a new pair of shoes or a takeaway pizza.
Even if it’s just a few pounds to start with, it soon starts to add up!
This is part of what I do with all my one-to-one clients. It’s about creating the habits and systems, that build towards your dream and help you take REAL control of your money.
As a Money Coach, I help my clients get started and keep going!
To figure out which piece of the puzzle is really the most important to them (and the real reason why) – and we start there first.
We celebrate every milestone along the way and build the confidence to take bigger steps, to bring their dreams and goals to life.
So if the last few months have made you think about what you REALLY want out of life – let’s talk about ways to make it happen for you. Here’s where you can find out more and book a chat in my diary now.
I’d love to help make everything on your vision board your reality!
Until next time,
Claire