Anyone seeking to affect change will likely come up against obstacles at some point. Whether these bumps in the road are internal, like fear or worry about the unknown, or external, like circumstances beyond your control such as a pandemic, you can’t let them stop you from reaching your goals. Learn how visualising your future can help you get the one you want.
This does not constitute advice and advice should be sought in all instances before acting on it.
The power of visualisation
You might not realise it, but you are likely using visualisation every day. Using the power of your imagination, you’re planting the idea in your head, internalising the thought. While you can use it for fun, you can also be more practical with your visualisations.
One way you can utilise this tool is by thinking about what you want your life to look like next year, in five years’ time, in a decade, and so on. If financial well-being is part of this visualisation, then it’s essential that you take steps to achieve financial security and independence.
Setting your goals
Whether you’re just starting out in your career or retirement is around the corner, you’ll always have goals (short, medium, and long-term) you want to achieve. It’s important that you’re setting tangible and realistic goals and constantly checking in to ensure you’re on target to meet them. If you have a partner, ensure you’re both on the same page so they won’t prevent you from achieving your goals. Develop your plans together so you can both work toward your shared dreams.
Determining the details
Setting your short-term, midterm and long-term financial and lifestyle goals is the first step. You may include visualizing in this step by picturing your dream holiday, what your perfect home would look like, how you’d like to contribute to your loved ones’ educations, or what you want from your retirement lifestyle.
Then you’ll need to determine the details. How much money will you need for each of your goals? How long do you have to save toward each goal? How much will you need to put away weekly/monthly/yearly for you to reach your goal?
Retirement will most likely be the goal you have the most time to save for, so you can invest according to your attitude toward risk. Whereas a holiday might necessitate prioritising saving for a shorter period of time.
When you are setting your financial goals, don’t just pick a number at random. You’ll need to look at your current earnings and expenses to determine how much you can realistically afford to put away or invest each month. Your savings goals should be incorporated into your overall financial plan.
Don’t forget to save for a rainy day
While it’s important to have a solid plan for your future, it’s equally as important to have a plan for the unexpected. Emergency situations can crop up and if you’re not prepared, they could set you back financially. If you don’t already have a rainy day fund in place, make sure you prioritise building one. Because if you can’t get past the first hurdle on your savings journey, it will be impossible to reach your destination.
Ready to meet your financial goals?
If you’re not sure how to apply visualisation during the planning process of goal setting, or if you simply want the help of an expert, we’re here to help. Get in contact with your trusted Dental & Medical Financial Services adviser to get started today.