Just like a picture speaks louder than words and has higher retention in our brains, a vision board is a better way to chalk out your financial goals than just penning it out. It shows the roadmap to success and enables you to walk that path without a doubt. Imagine sticking pictures of that dream house or that dream car that you want to buy or your favourite holiday destination that you have always been wanting to visit, on a board and looking at it on a regular basis. That would surely provide a much stronger motivation to continue your financial planning in order to achieve your future financial goals!

A vision board is nothing but a collage of pictures and powerful quotes that motivate you to achieve something. With the beginning of New Year and the pandemic-stricken grief of the past year, making a vision board for your finances is an out-of-the-box way to inspire yourself to achieve financial freedom. Here are some simple steps that would help you create an effective financial vision board for 2021 –

1. Get a hold of some supplies

   Ok, so if art and craft is not your strong suit, you might find it challenging first. But with the gift of modern inventions (read internet and a printer), creating a masterpiece becomes easy, even if you are challenged in the creativity department. So, first, grab hold of a mount-board for your vision board’s foundation. Then, you need supplies – coloured pens, coloured papers, pair of scissors and glue. You can either print pictures and stick them on the board or take the help of magazines lying around the house. Or if you are creative, make flipcharts or draw! Just make it super interesting so that you can almost visualize the goal in front of your eyes!

2. Make a list of your financial goals

   Before you hop onto the creative bandwagon, you need an outline of what is to be done. So, the old pen and paper would do the trick in this aspect. Or, if you are tech-savvy, use your Smartphone or your computer. To each his own!
   
   Then, make a list of your financial goals, both short-term, mid-term as well as long term. You need to know your goals to know how to design your vision board. Also list the horizon beside each goal. You need the timeline so that you can plan your finances accordingly.

3. Put your goals on the vision board

   Once you are done listing your goals, find pictures that resonate with each goal. For example, if your goal is to own a dream home, find the picture of a perfect house to stick to the board. Similarly, for retirement planning, pick a picture depicting an old couple fulfilling their bucket list. Pick out pictures corresponding to your financial goals and put them on the board. Give your creativity a free rein and make a compelling collage, a collage that would motivate you every day to achieve your goals.

4. Review your board periodically

   As things get older, they tend to lose their charm and your vision board might be prone to this threat. Though you might be excited initially as you put your efforts into making the board, if not reviewed regularly, the board might lose its appeal. Remember how manufacturers constantly launch upgraded versions of their products to make them appealing to customers? You need to do the same. Upcycle your vision board every six months or every year. Take out old pictures and replace them with newer ones. As you maintain the novelty of the board, its charm would last years, driving you to achieve your financial dreams.

You are the master of your own fate and if you need boosters to up your financial game, a financial vision board can prove to be an effective one. Start this New Year on a positive note. Make a financial vision board for yourself and put it somewhere where you can see it to gain motivation. If you have kids, engage them in the exercise. They would love this art and craft project of yours and might end up taking a few financial lessons themselves. Taking charge of your finances is important for your financial health and if this creative way can fuel your motivation, don’t hesitate. Make your financial vision board today!

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.