Get ready for 2024 – create your financial vision board
Do you find it easier to achieve your goals when you can visualize them? They say that it’s easier to achieve something when you have an image of it in your mind. While some people are comfortable with listing their goals down on paper and reviewing that list regularly, others need a little more inspiration. That’s where a vision board comes into play!
How is a financial vision board different?
A vision board is a collage of pictures, words, photos, and phrases that depict things you want to accomplish in your future. It's a visual representation of your hopes and dreams. When drawing up a vision board, the goal is to inspire you to work on your goals. Vision boards were traditionally created on paper, but you can also create one on your phone, laptop, or even by using an app like Pinterest.
What is a financial vision board?
A financial vision board contains your personal finance goals. To make managing goals easier, you can divide them into short-, medium-, and long-term goals.
- Short-term financial goals can be achieved in a year. Typical short-term goals include a vacation, home renovations, or buying a new car or laptop.
- Medium-term financial goals can be completed in 5 years. They need thorough planning and could involve improving your credit score, building your wealth through an investment account, or paying off credit card debt.
- Long-term financial goals are achieved over many years. Examples include buying your dream house, or saving enough for a comfortable retirement.
When setting your goals, make sure they are SMART - Specific, Measurable, Achievable, Relevant, and Time-Bound.
Starting your vision board
Now that you’ve decided on your goals, it’s time to work on your vision board. The first step is to decide how you will build the vision board. If you’re more of a ‘hands-on’ person, you may want to grab some paper, highlighters, and some pens. If you’re going paperless, then a digital vision board will work for you.
- Physical vision board
Get yourself some clean white paper, A4 or bigger. You’ll use magazines to find pictures that represent your goals and compile them on a poster. Alternatively, you could find images online by doing a Google images search and printing them out. Also, include affirmations and inspirational quotes for those moments where you feel discouraged.
- Digital vision board
Creating a digital vision board is easy too and you could create it using PowerPoint, your notes app on your phone, or even using a social media app such as Pinterest.
Review your vision board
When viewing your vision board, imagine yourself having already accomplished or acquired the things on your board. Try to imagine what it would feel like to achieve the things you want. This will give you the motivation and energy you need to work towards your goals.
Let’s help you manage your financial goals
Our goal is to help you make achieving your goals as easy as possible. We have the audacity to believe that you can achieve anything you set your mind to. We can help you manage your personal finance goals with a:
- MyWORLD Account – This is a unique banking solution that gives you up to six accounts for one low monthly fee. You can use these accounts, or Pockets, for your different financial goals, and grow your money faster with SA’s best savings rate. For example, you could name one of your Pockets “Vacation”. In that way, you can track your progress towards your savings goal.
- Tax-Free Account – If you’re new to investing, this is the perfect account to start with. You can open an account with just R50 and your payouts are non-taxable.
- Fixed Deposit Account – Perfect for meeting your long-term goals. It offers guaranteed returns with an attractive interest rate that’s fixed for the duration of the investment.
What is your vision for the future?
If there is something you want to achieve in the future, there’s no time like the present to get started. Creating a vision board will motivate you to create your plan of action. Keep it in a place where you can easily access it. Revisit it every day to remind yourself that your dream future is yours to create.
For more information on African Bank product and services, please visit www.africanbank.co.za.