The new year is upon us, and although we may not keep them — many of us have established goals or resolutions for 2020. I use a simple tool each year to keep me focused on my goals: a vision board.
What is a vision board?
A vision board represents your desires and goals in words, phrases, quotes, drawings and images. In it, you create a visual depiction of your goals. The process of looking at it daily becomes a great force of encouragement. You’re able to see how much you can truly accomplish when you put your mind to it. When you feel discouraged, your vision board is a welcome reminder of why you wanted to achieve these goals in the first place.
Vision boards and finance go hand-in-hand
Let’s face it – much of what we want to achieve in life requires money at some stage. Looking to go back to school and finish that degree in 2020? That takes money. Do you want to renovate your kitchen this year? You’d better break out the checkbook. Did you reach your goal weight last year? Then it’s probably time to invest in a new wardrobe, and you’re certainly going to require money to do that.
After hosting a recent vision board session with friends, I noticed that almost everyone addressed finances in some way. There were the straight-forward representations, such as paying off debt, building an emergency savings fund, or buying a house. But many more subtle goals circled back to finance, too.
Making vision boards with friends opened my eyes to something: Most of us could use a little help in working toward our financial goals, and consulting with a financial advisor is a great way to start. Advisors are prepared to help you with all sorts of financial finish lines throughout your life — not just retirement. Reaching those milestones starts with a conversation, a vision, and a goal.
20/20 vision in 2020
So… what goals do you plan to work on in 2020? Remember that sometimes, our New Year’s resolutions have the potential to put more money in our pockets. Are you determined to stop smoking, or to eat out less often this year? If so, consider a plan for putting the savings achieved from discontinuing those activities to constructive use.
In any case, it can be tough to follow through on those goals.
Strava, a social network for athletes, reviewed more than 31.5 million online activities in 2017 — and found that Jan. 12 is the day most people’s annual commitments wind up in the ditch, according to Bestlife.
I want to make sure that doesn’t happen to your goals this year. Together, we can see your 2020 financial goals with 20/20 vision.