Updated: Jun 7, 2020
Good morning Honeys,
How is your morning going so far?
Happy Thursday everyone! It's time to get to work. In the last couple of days, we’ve examined how to create a list of goals that you would like to accomplish. We've discovered how to find your core values, and we’ve broken down your goals to only focus on the ones that are important to you. Now is the time to figure out how to afford your dreams.
The reason why most people don’t follow their dreams is that they can’t afford to. But by only wishing to start your own business, or to travel the world won’t get you very far. So here is how you will achieve your goals without having to become a millionaire.
3 to 6 months of an emergency fund
Pick a maximum of two goals that you would like to work towards for the next 2 years. Make sure that they are the goals that you think about before you go to sleep. They are the ones that you Google at work. The goals that you would complete if you won the lottery tomorrow.
First, we must create a financial cushion. Just in case you don't want to pursue that goal anymore or if a family member gets sick or you lose your current job money.
The struggle is guaranteed, but your success isn't.
Once I signed for my mortgage, everything that could go wrong did. I had to get new flooring for the bedrooms, welcome taxes and school taxes were due, and not to mention adjusting to my new commute to work. Then when I thought I had it all figured out, I was laid off from my job.
So, when I say that you need an emergency fund, it’s not from me reading books. It’s from my personal life experience. Shit will go wrong when you least expect it to.
Spending on your dreams
You will need money to be able to transition into your dream life. So, if you don’t already have the money saved for your emergency fund, there is no time like the present to start saving.
First, you must find a way to reduce your monthly bills. This is the best time to get your bills to reduce or have an interest freeze due to the pending economic crisis. Negotiate your bills to save at the very least $300 per month.
While you’re saving money, make sure that you’re also working on paying off your debts. Never ignore debt, since it will come back to trouble you when you least expect. Call all collections agency and have your debts reduced by ¾. Remember that the more money you save, the faster you can afford to dream.
Create a savings account, one for your Emergency Fund, and the other for your Dream Fund. For every dollar, you save 3/4 will go towards your Emergency Fund and ¼ toward your Dream Fund. This is because I want you to get your Emergency Fund in order as soon as possible.
I’m leaving it up to you whether to save 3 or 6 months of an Emergency Fund. The more money saved, the less anxiety you will have when pursuing your goals.
Since I’m not a burn all my ships at the shore kind of girl, I would work on my goal while I’m living in my current life. If your goals are to travel the world, begin by watching YouTube videos of people doing the same. Join travel groups, learn a new language, and get your scuba diving license. Do what it takes to fuel your excitement.
TTYL and by the way…Have a great day
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