Financial Tips

Have a dream? Don’t let practicality crush it. In fact, use that practicality to feed your dream and turn it into reality. Most dream careers require money, time, and other serious investments. One of the most important is money, which isn’t something you can orchestrate out of thin air. You’ll need to follow through on some serious financial goals to make it happen.

Setting effective financial goals is all about perspective and patience. Just as you can’t get money out of thin air, you also can’t make time go faster. Unless you come into an inheritance, you won’t have the money you need for your business or career if you don’t save over time.

To picture this critical component on a more visual level, consider this analogy:

If your dream career is being a professional musician, you know that it takes practice and careful attention in order to achieve your goals. An example is a guitarist looking to build speed. It’s something that begins slowly, and as your muscle memory adapts, you’ll be able to play in accordance with some of the world’s best guitarists.

But you have to start with the baby steps and work your way up. There are no shortcuts, but as long as you remain busy and focused on your goal, the time will go by quickly and you’ll have your dream job in no time at all.

If 2017 is your year, don’t let financial restrictions get in the way. To help you on your journey to the best career of your life and financial freedom, try some of the following goals.

  1. Increase Cash Flow

Your cash flow is defined by the money that’s left over after you’ve paid the rent, purchased food, and covered other living expenses. It’s the money that you’ll put towards making your dream a reality, and if it’s building up slower than you’d like, try increasing your cash flow.

Most people can’t simply approach their boss and ask for a raise, which is where the side hustle comes in. There are many jobs you can pick up in your spare time to increase your cash flow. Here are some ideas:

  • Tutoring
  • Freelance writing
  • Consulting
  • Temp at an agency
  • Invest
  • Mow lawns
  • Shovel snow
  • Substitute teach
  • Referee
  • Donate plasma

The money you make from these side jobs is strictly designated for your dream career. Don’t be tempted to spend it elsewhere.

  1. Increase Financial Knowledge

Most people’s finances are full of untapped potential. There are often ways that we can make money, and increasing your financial knowledge can help light the way. Additionally, further financial knowledge can be very useful for when you’re making more money.

A lot of your financial education can be conducted for free online. Personal finance blogs have a very wide market in the blogosphere, and there are tons of self-help guides and tutorials that will show you how to maximize your savings account, invest, budget, earn extra cash, and more.

To get started, subscribe to any or all of the following top-rated blogs:

  • Consumerist
  • The Krazy Coupon Lady
  • Wise Bread
  • Money Saving Mom
  • I Will Teach you to Be Rich
  • Money Crashers
  • Money Talks News
  • Get Rich Slowly

Also, note that it’s okay to delegate some of your financial responsibility after getting started. You don’t have to know everything to do your dream job, especially when you can pay an accountant to handle your finances.

  1. Gain Better Financial Control

Most people could put away several hundred dollars per month if they had better control over their spending. In your case, that extra money could be put towards achieving your dream. The first step is creating a budget, but the second, and much harder part is sticking to it.

There are hundreds of apps, software, blog posts, tutorials, and online resources that will help you budget, but one of the most effective methods of gaining financial control is making sure every dollar has a job. In whatever budget you use, define categories for all of your money, and don’t let even $20 sit idle without a designated responsibility.

Giving your money categories teaches you about the value of each penny and helps you gain better control of your finances. When you control your spending and saving, your dreams are much closer to becoming reality.

Peter Daisyme is the co-founder of Palo Alto, California-based Hostt, specializing in helping businesses with hosting their website for free, for life. Previously he was the co-founder of Pixloo, a company that helped people sell their homes online, that was acquired in 2012.

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