Can following your dreams help you save up for early retirement? Can following your dreams help you achieve your success in life? What comes to your mind about achieving financial success with your dreams?
Everyone has big dreams, including you. Your dream might be to start your own company. Buy a house. Purchase one property or the other. Financially prepare for your kid’s education. Retire at 40. It doesn’t matter what your dreams are, and don’t bother yourself thinking what anyone else thinks about them.
However, what matters is your finances. You need to understand that your dreams shouldn’t in any way come at the expense of your savings, investments, and your general finances. For you to succeed you need to be mindful of them.
Your dreams are achievable if only you don’t give up your financial success. In this article, we will see how you can achieve your dreams and financial success at the same time.
How Do You Follow Your Dreams?
Understand that are millions of good reasons why you need to chase your dreams. To live a more fulfilling life; have a good career; to mention just a few. If look yourself in the mirror and be honest with what you see, you’ll be able to find a good reason why you must follow your dreams. Once you understand that good reason, then it’s time for you to tackle the how.
Tips On How To Follow Your Dreams
1. Intentionally Define Your Dream
You need to envision your dream before you can chase it. What are those things you working to achieve? For instance, you plan to start a business, you need to imagine exactly what that business will be like. What are those things you want to sell? Who are you going to employ? Where will the business be located? Some people like to create a vision board that will help them to flesh out their dreams. You can do the same.
You must be intentional about how you live your life. By living intentionally means you are the one that decides how your life will look like. With a clear vision of your dreams, and actively pursuing them, will put you on them to achieving them.
2. Your Mindset Needs to Change
It’s possible to achieve your dream, but not having the right mindset, will be difficult for you to achieve it. It means changing your feelings of envy to admiration, defensiveness into curiosity, or any other mindset change. With this change, you will be able to overcome obstacles in the way of achieving your dreams.
A scarcity mindset is one of the biggest mindset obstacles people who don’t pursue their dreams face.” And it’s the feeling of never having enough. While those achieve their dreams, have an “abundance mindset.” Because they understand that they have enough, appreciate what they have, but also understand that they have what it takes to achieve more.
3. Self Discipline
In this world, there are many distractions, without self-discipline, you will find it difficult to concentrate on one thing. But if your dream matters to you, then you got to discipline yourself. There are different ways to develop self-discipline, and one of them is to set small goals for yourself. And it’s one of the keys to easily achieve your dreams.
4. Build Your Inner Circle With the Right People
The people that are in your inner circle can help or break your ability to pursue your dreams. So, you have to be mindful of the people who are there to hinder your goals and dreams in life. They are known as toxic people who won’t bring anything good to your life or even support you. Probably they don’t have any dreams of their own and don’t want to see you achieve yours. Whatever the reasons are, you have to get rid of them to succeed.
So, build your inner circle with those that encourage and support you and your dream along with you. Apart from being your cheerleaders, these people are willing to help you in other ways.
Financial Missteps You Need To Avoid When Following Your Dreams
You need to understand that when people pursue their dreams but ignore their finances, it can affect their end goal. So, make you don’t fall into the following traps when pursuing your dreams:
1. Investing in Things You Can’t Afford and Don’t Need
Investing in things you cannot afford and don’t need to achieve your goal, can be financially dangerous. Some people spend money that they don’t have on things like online courses (that they may or may not even complete). Before investing, ask yourself some questions, such as “do I need this to get started? Or is there any way I can work toward my goal without spending this money?
2. Leaving Basic Financial Needs to Pursue Your Dream
Spending some money to pursue your dreams is required sometimes. But understand that your dreams shouldn’t come at the expense of your basic financial needs, like having an emergency fund. Never make the mistake of leaving your basic financial needs in favour of your dreams just because of your impatience towards achieving those dreams. It might take you time to reach your dream if you are financially responsible along the way, but you’ll get to a better place in the end.
How To Achieve Financial Success While Pursuing Your Dreams
1. Create an Emergency Savings Account
Creating a healthy emergency savings account is part of your financial plan. You must understand that nothing should come at the expense of you saving for any emergency. No one knows what tomorrow brings, which might cost a lot of money.
2. Make Plans to Get Rid of Any Debt, If You’re In One
Don’t allow debt to be the reason why you don’t pursue your dreams. Instead, make plans to get rid of any debt if you’re in any.
3. Create and Stick to Your Budget
You should create and follow a budget for your expenses every day. If not, then create one should be your priority. After creating it, update your budget to include your dreams in it. This is important if your dream will cost you money to get going. So, starting a side hustle will be a nice idea. Investing in yourself and your dream is important, but be sure you don’t go into debt.
4. Automate Your Saving and Investments
With platforms like Piggyvest, you can automatically send a portion of any money that enters your bank account on a weekly or monthly basis. By doing this, you’ll have time to concentrate on achieving your dreams while taking good care of your finances.
Pursuing your dreams is one of the ways to live a successful and fulfilling life. Moreover, achieving financial success and your dreams do go together, as long as you have the necessary financial tools. Now that you have required those tools by reading this great article, go out there, pursue your dreams, and at the same time achieve the financial success that’s waiting for you out there.