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Stop the dream boards and make them come true


Everyone is familiar with the “law of attraction” and that is why most of us, surely, have had these dream boards. We understand the importance of visualization and that we cut down some pictures of your dream house, car and/or vacation. The challenge however, is that these dreams remain dreams even until now. Years have passed and they still remain as dreams, until such time we remove our dream boards and bury them together with our heart’s desires.

One of the reasons why our dreams will never really come true is because we still need to turn them into financial goals. Here are 3 ways how to turn your dreams into financial goals, stop the dream boards and start achieving them:

Turn your dreams into reality
Turn your dreams into reality
1. Define your dreams and turn them into financial goals

This is one of the reasons why we never achieve them because we label our dreams as “dreams.” From the word itself: Dreams = not real! That is why we need to turn them into financial goals. How? By adding our target date and target amount or cost.

Dreams (Top 3 dreams of Filipinos)
1. House and Lot
2. Car
3. Vacation

Financial Goals (Turn dreams to goals by adding time and cost)
1. House and Lot worth 2M after 5 years.
2. Car worth 1M after 3 years.
3. Vacation at Singapore after a year with my family with 20K budget per person.

Having a clear direction really helps! Once our goals are crystal clear, it is when you can start taking action steps in achieving them.

2. Calculate and Save for it

Math is taught in school and its real life application is really to help us compute for our financial goals.

Example: 
2M House and Lot after 5 years: 
P2M / 5 years = P400,000 per year
P400,000 / 12 months = P33,333 per month
P33,333 / 2 payday per month = P16,667 per payday

If you have a partner or spouse: 
P16,667 / 2 = P8,333 per person!
Therefore, we need to save P8,333 per person per payday for the next 5 years to save up 2M for a house and lot! Sounds tough? Sure is! But with due diligence, one can achieve it. (Please note: inflation and other factors are not included in the computation for simplification purposes which mean actual result may be higher)

Listening to practical approach however, we may really need to take a housing loan. But, always remember: if possible, pay as much as possible on the down payment as to minimize the amount to be taken as a loan.

Same calculation applies to our dream car and even vacation. The point is that we need to calculate how much we need and that we must “save” for it! The only challenge is that most of us don’t want to save for our dreams. We want something instant. That is why even the down-payment we take a loan for it. If we are already struggling to pay for the down-payment, what made us sure that we won’t struggle paying for the remaining balance.

Therefore: we need the patience and discipline in achieving our financial goals:
“Can you SAVE for down payment & other cost, etc?”
“Can you WAIT for enough time to build your Financial Goals?”

3. Take Action

“The way to turn your dreams into reality is to wake up!”

Take action. Do it! Save for it. If income is not enough, earn additional sources of income in order to be able to save more for our financial goals!

We are not born to just work, pay bills and die. We are all destined to achieve whatever goals we desire. God has given us enough skill set, mindset, and abilities. It is up to us to put them into good use.

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