Funding Your Dreams

by mutare on March 25, 2012

Among clients and wannabe clients the most common initial question is “How can I afford my dream career/life?”  STOP worrying about money and get practical. Worry is a waste of time for this situation. Action will get you there.  If you begin with the assumption that goals are blocked by money you may not use all the tools at your disposal. Think flexible at first.  

Some folks actually pick goals they cannot afford so they won’t have to get busy chasing them – WHAT? Yep, I said that. We sabotage ourselves by setting “impossible” goals so we can avoid pursuing them.  Are you guilty? If so maybe it is time to break another bad habit – past blame. “When you know better you do better.”(Maya Angelou) Acknowledging past mistakes does not tie us to them. WE have to cut cords to bad habits to make time for more positive productive ones. Money is one area where this needs preparation and practice to get right.

Our use of money started with plans for most of us as we began working as teenagers. We WANTED something that our parents could or would not buy. So we got a job. We saved the money and bought the $200 sneakers, new dress, TV, used car, etc.  Perhaps this was a better way to buy things – by saving.

As adults we earn some money then we spend more. Obviously, this is not a good long term habit. Some purchases are needed but there is usually a range on the amount being spent. A car can be a Lexus, Hyundai, VW, Focus, on & on. The price ranges vary widely. Do you buy new, used or lease?  These choices determine individual & family expenses. Mileage, gas, insurance & upkeep are also part of decisions made at the same time we buy a car. They are “background” choices and we sometimes do not consider them as part of what blocks us from saving for a dream. 

I passed a billboard yesterday with a smartphone and a smart car – both showing a price of $99/month.  

http://www.smartusa.com/smart-center/ The choice seems clear – a monthly cell phone OR a car payment could each be the same.  I encourage you to read the FINE print on the site for more details. At least a thousand dollars more are needed for tax, title and other legalities on the front end of the transaction. Payoffs also bring in more taxes, fees for overuse IF one actually qualifies for the very low rate mentioned. Of course not everyone would find a 2 seat car useful as transportation. But I suspect these ads are still encouraging buyers to visit Mercedes-Benz showrooms for a look.  

The point of these examples is decisions about money are linked across individual & family expenses.  They are not separate. Money spent on one item impacts what is available for another.  Sorting out needs from wants is HOW to get money for long term dreams.  It may take a while – but still is the only way.

Listen to this week’s “Ask Dr Rhonda”  Program – Wednesday at 930AM www.blogtalkradio.com.askdrrhonda for much more detail and information on how to prepare to live your dreams.  

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