Are vision boards helpful tools when it comes to financial goals? Get tips on creating one—and advice on what to do if you’re not into vision boards.
When we spotted “National Vision Board Day” on our calendars this month, it got us thinking about all the various goals we have for our finances. Could a vision board help us in meeting our financial goals? If so, what kinds of things should even go on a vision board?
To get the answers we needed, we checked in with the experts for their take on how vision boards can help us hit all our money goals.
CAN VISION BOARDS HELP WITH FINANCES?
Shari Greco Reiches, Wealth Manager, Behavioral Finance Expert, and Author of Maximize Your Return on Life: Invest Your Time and Money in What You Value Most, tells us that “a vision board can be a terrific way to help keep you on track with your money.” She goes on to say, “It is important to visualize your goals, and pictures can be more effective than numbers.”
Rai Hyde Cornell, Business Mentor & Entrepreneur Coach, has a similar viewpoint, saying, “Vision boards are fantastic reminders of what we’re working toward, why we want it, and, in particular, the emotions we want to feel on the other side of our accomplishment.”
Our experts agree that vision boards can be a wonderful way to help you work toward your personal financial goals. They also provided some tips on creating one.
HOW TO CREATE A FINANCIAL VISION BOARD
Reiches has several recommendations that will help you get started creating your own vision board for 2022.
First, she advises that you pick out no more than 5 core values which she describes as the “beliefs and qualities that we strive to live by.” She goes on to explain that core values “are the things that we value most in our lives—such as family, work, community, philanthropy, status, flexibility, education and health. Core Values are not possessions, activities or experiences… they are convictions about how you define yourself as a person, and they can have a most positive impact on your life.”
You’ll want to spend some time thinking about these core values, since they’re going to be the “foundation” of your vision board, according to Reiches. Once you’ve pinpointed your own core values, she suggests finding a picture that fits with each value. As an example, she says to pick out a photo of your family if you determine that family is a core value.
Next, Reiches wants you to take a look at what went well for you in 2021 and find corresponding photos to represent those wins. You’ll also want to look at your goals for 2022 and pull in some pictures that help you think of those financial goals.
If one of your financial goals is to make a big purchase, you could include photos of the item or maybe include a graph to represent saving up for it, says Reiches. She also suggests you might consider estate planning, budgeting, or saving for retirement as financial goals. And you could tie in your personal goals to get healthier or start decluttering as a way to “invest in yourself.”
Once you’ve identified these items and found pictures, you’ll want to view your vision board frequently, Reiches recommends. She suggests evaluating it every quarter in case you make changes or add some goals—and of course once you check off some of those goals.
Above all, Reiches says that you should “have fun with the board.” After all, it does represent values and goals specific to you!
VISION BOARDS: A WORD OF CAUTION
As mentioned, Cornell agrees that vision boards can be wonderful reminders of our goals. However, she does issue a note of caution: “Vision boards can lack clarity while also sparking envy.” That’s because vision boards are usually put together using cutouts from magazines, which might end up being “reminders of what we don’t yet have or what others have that we don’t.”
Cornell says, “If you’re able to detach yourself from ‘comparisonitis’ and the Insta-envy we’re plagued with in our hyper-digital age, then by all means use vision boards to keep yourself motivated and fixed on your goals.”
If you think you might struggle a bit with a vision board, she recommends you try journaling instead. Cornell states that journaling is a “pure, personalized form of goal-setting and attention-focusing that can dramatically improve your positive mindset, your productivity, and your connection to what you truly want to bring into your life.”
A VISION FOR THE YEAR
Whether you choose to create a vision board or a journal, both methods can be wonderful ways to help you achieve your financial goals this year.
READ MORE ON HERMONEY:
- 4 Couples On How Working Together To Meet Financial Goals Brought Them Closer Together
- 3 Tips For Setting And Reaching Your Financial Goals
- How to Create A Financial Vision Board
SUBSCRIBE: Looking for more financial insights delivered right to your inbox? We got you. Let’s make this thing official with a free HerMoney subscription today!
Editor’s note: We maintain a strict editorial policy and a judgment-free zone for our community, and we also strive to remain transparent in everything we do. Posts may contain references and links to products from our partners. Learn more about how we make money.
