Have you ever watched a financial advisor on TV that just yells at his or her viewers with a comment like, “Are you kidding me” when they ask if they can buy something that they have wanted for a long time. Watching one of those shows reminds me of having my parents yell at me. Sure my parents were smart. Sure they have more life experience. But did they always see where I was coming from? Not always.
If your financial advisor is always telling you what to do and what not to do, it is time to ask them if they really understand your dreams. The financial advisor should know your dreams and figure out a healthy financial lifestyle based on those dreams.
Only you know what makes you happy. So follow your dreams and make it happen (with some well-thought out financial planning of course)…
Does your lifetime dream have a large price tag?
My mom is a retired school teacher who lives at her place in Belize during the winter. Was she super rich? Uh…you did see that I said, “school teacher” didn’t you? She was really smart with her money and was able to save up for her dreams.
I was not deprived as a child. I still remember playing games with her, reading books with her and going on a trip to Yellowstone. We even went to England, Wales and Scotland — a trip of a lifetime. I have one of the most colorful childhoods of anyone I know.
Anyone can be wealthy, (and therefore anyone can be broke) depending on the lifestyle they choose. Make smart choices early and the wealth can build up. Compare savings account or money market accounts.
Is your love for spending getting in the way of your dream?
I found a trick that will keep you from overspending. I try to live by this rule: only buy it if you love it.
Is it on sale and it is just too cheap to pass up (ho hum)? Or does it make your figure pop and you could stare at yourself in the mirror for several minutes (heck yeah!)? I have found that only 10% of the things I take in the dressing room make me say, “heck yeah!” If they don’t, I will not buy them.
Try the “heck yeah!” rule. If you have too many “heck yeahs!” then try to go for your top “heck yeahs!”
Cherish the experiences you do have!
I went on a trip to Hawaii with my husband and kids once – just once. But we have great memories of that trip to last a lifetime. We planned it for a couple years. We narrowed down what we had to do. We told each other to make every moment last because this is probably our only trip to Hawaii. If I ask my kids what they got for their 9th birthday they don’t have a clue. But they remember that trip. We have celebrated that trip to Hawaii every year by getting out the vinyl Hawaiian tablecloth, ordering Hawaiian pizza, looking at pictures and talking about our experiences.
Your dreams are in your reach. When you do them financially-savvy, you can open the door for other dreams. My best advice is to think backwards. Just find what you love and make smart financial choices to get there. When you have those opportunities — cherish them.