Posted on: 25th Oct 2019
What are your dreams?
To start a new business? Send you Children to a reputable school? Gift yourself a car? Travel the world? To have a Destination Wedding?
Many would agree that carrying big dreams in our hearts and then bringing them to life can bring so much self-satisfaction and fulfilment. In fact, it is an essential part of fully living.
Do you need money to fund your dreams? Here are 5 smart tips to help you:
1. Determine How Much You Need To Secure Your Dreams.
Identifying how much money is needed to bring your dream to life is one of the most important steps required to achieve success. Thoroughly analyze and settle for what you may need on this new journey. Now pen down the total figure required to bring this dream to life.
2. Analyze Your Income And Your Expense.
You probably know how much you earn each month – but do you also know where it all goes?
Write down a list of where your income comes from and how much you earn from each. Next, track down where you spend all your earnings. This can be done manually with a pen and paper or with an App that can help you track your monthly expense.
3. Identify Your Need From Your Wants.
Now that you know how much money comes in and how much money goes out, it will be good to ask yourself these pertinent questions: Am I spending more than I earn? Do I want this or do I need it? Will spending this money get me closer to securing my dreams or further away? Can I live without it?
Set clear priorities for yourself and cut out your excess spending.
4. Start Saving.
After you must have cut down on your excess spending, it is now time to save. Set a savings goal. Agree on an amount to put aside every time you receive your earnings. This amount must be quite relatable to the goal set.
Now that you have successfully started a lifestyle that will help you fund your dream, it is time to invest. Get an investment plan that is reliable and secure. The African Alliance “Money Appreciation Plan” offers a good savings plan and a Life Insurance Cover.
The best part of the plan is that you get to receive 30% of your guaranteed sum at each one-third of the duration to fund your big dream.
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