Have you ever noticed that financing your dreams is often held to the “chicken or the egg” philosophy? You could make a lot of money with your biggest ideas. But to get there, you need money to get the whole thing started. It’s the “it takes money to make money” adage, and for most people, that’s hard to overcome.
After all, if you’re paycheck is spent long before you receive it on rent or mortgage payments, car loans, credit card bills, and sending your kids to school, where on earth are you supposed to find enough to build your dream too?
I remember that feeling all too well.
Years ago, I had a business fail. It put my finances into a tailspin. I’m an idea person, so of course, I came up with a new business venture. And because I’m a writer, a lot of it I could do without any money at all. I’d sit for hours and create books, training programs, marketing materials and more. But when it came time to find the money to get my message out there, that’s where things fell short.
So I’d write and create.
And I’d never sell.
And I’d never get ahead.
And I drove myself CRAZY! What. The. HELL! I thought I’d never get ahead.
Until I learned two very important points that I use today to fund all of my dreams.
1. We rarely invest in ourselves. We spend money on everything for other people: mortgage, credit card bills, items for our family members, a doodad to support a good cause.
2. We don’t release we have a choice in what we spend our money on.
Invest In Ourselves
I can hear you now. But I HAVE to pay my mortgage and credit cards. And I agree. But paying yourself means putting yourself first. It means budgeting your money enough so that YOU come first above and beyond all of your bills.
I believe very strongly in joining masterminds. And when I found the perfect one to advance my romance novel career, I didn’t think twice. I joined. Two hundred dollars a month goes out my door on the 1st. And I budget for it no matter what. I’ve put other necessities aside to ensure I have enough to pay for this each month. It’s not an option. It’s mandatory. Because I know this is important to increase my success. And ultimately my wealth.
It doesn’t stop there. Every month, I ask myself what my most important expenditures are. What do I need to invest in me? And I ensure that payment is made long before the normal “bills”.
The Choice In Spending Behavior
I can still hear you. But I HAVE to pay my mortgage. I HAVE to pay my car payment. And I agree.
But do you have to live in THAT house? Do you have to drive THAT car? That’s where your choices come into play.
I get it. When we moved into our forever home; I did so to live in my “ideal” area. It was my forever home, and I put that first at all costs. Until one day I looked at my life and realized how much my forever home was costing me. (And not just monetary.)
I lived on a quarter-acre. The gardens and landscaping were extensive. In the dry climate of Denver, you can lose all your plants in a matter of days in the heat of the summer if you don’t water it on a regular basis. We went on vacation once for two weeks and came home to a broken sprinkler system. Yep, it took more than a year to recover from that loss.
As much as I loved my gardens, I liked the idea of traveling more. So we sold the home to give ourselves more resources to travel more. It was the first step in our desire to slow travel the world for the rest of our lives.
Finding the money you need to finance your dreams is ultimately about mindset. You have to DESIRE your dreams more than you DESIRE other things already in your life.
Once you change your mindset and put the power of YOU first, there are other ways you can finance your dreams.
You can obviously use the most common ways to finance your dreams. The ways everyone will tell you to go down:
- Use credit cards
- Get a loan
- Dip into your savings
- Have family or friends invest in your dreams
But I suggest you go even further.
When we sold our forever home, we downsized from 3300 square feet to a 1200 square foot apartment. And we knew we’d never increase the size of our living space again.
We went minimalist. And we had to get rid of a lot of stuff.
That meant Craigslist and I became best friends.
Think beyond the standard garage or estate sale. You won’t make much by selling your stuff from your driveway. Instead, find ways to sell the things you no longer use or desire. Craigslist works well. Ebay can also be a great way to move things out.
If you have specific items, do a Google search to find a company that can offer you top dollar. For example, you can sell your china, crystal, and flatware on sites like Classic Replacements. The better condition it’s in, the more money you’ll receive.
If you have brand name or designer clothes, find a consignment shop near you. You’ll be amazed at how much you can make from items you no longer wear. If you don’t have a consignment shop near you, check out online resources like ThredUp or Swap.
Have old books? Consider selling them on Amazon. You can use resources like BookScouter if you have textbooks or popular books used in the classroom.
Have used sports equipment with little use? Play It Again Sports is in many cities and is the perfect way to make a little money while getting rid of your stuff.
If you have something to sell, you can find a way to do so online.
Raise The Money
You’ve heard of crowdsourcing, haven’t you? Why not use it as a way to make the money you need. There are many, MANY ways to go about it. Do a little research and find your perfect route.
GoFundMe is a free fundraising platform you can use for just about anything.
Kickstarter is the behemoth in the industry – you’ll find many million dollar campaigns for just about every idea under the sun.
Indiegogo has a more small business feel. You can find innovate designs and products well before they hit the marketplace.
Patreon allows creatives an innovative way to get paid for their music, books, podcasts, games, and other designs while building up their fan base.
Etsy turns your hobby into a business model. It’s one of the easiest ways to get up and running with very little investment.
It’s Time To Dream
If you’re motivated to make a difference, if your dream is strong enough, you’ll find the motivation it takes to take action.
You can have the life you’re living now, or you can do something about it.
Do something every day.
And let me know what you do – I’d love to hear from you!