So far, you’ve set goals for your dream house, future car, dream business, children’s education, and financial freedom.

Do you still have other major financial goals in mind?

Perhaps a vacation home?

23 - Vacation house

How about a multi-storey apartment complex?

23 - Apartment building

Does a month-long vacation in Europe cross your mind?

23 - Paris

Or a cruise around the world?

23 - Cruise

Whatever your other financial goals are, we encourage you to set them now! Setting them now will enable you to prepare for attaining them early, making them easier to attain (We’ll show you how to attain goals in the next section!).

Even without further examples from us, you should now be able to set financial goals for virtually ANYTHING you want to attain.

Why is that?

Because as we’ve told you, the Money University 3-Step Goal Setting Process can apply to anything! You can set any financial goal you want using the 3-Step Goal Setting Process!

The foundations for all goals are the same: They are S.M.A.R.T. (Specific, Measurable, Achievable, Realistic, and Time-bound). As such, the 3-Step Goal Setting Process below holds for any goal you would want to set for yourself:

  1. Determine what exactly your goal is and when you plan to achieve it. Remember to make it specific!
  2. Know the cost of your goal today.
  3. Adjust the cost of your goal for inflation.

With the 3-Step Goal Setting Process, not only can you set goals that are personalized to your liking, but you can also use it for setting any goal you want!


Action: Set all your future goals

Let’s try to do this now! We’ll give you a few more tips below and then you can be on your way to using the 3-Step Goal Setting Process on your own.

So, to start off:

1.   Think of the next decades of your life. What do you want to achieve and to experience?

Think of your hopes and dreams — not just for now or for the next five (5) years, but for the next 10, 20, 40 years of your life.

23 - Future

What do you want to achieve? What are you most excited to have? What have you been dreaming about since you were little?

This is fun and exciting to do, right? List them down!


2.   Apply the Money University 3-Step Goal Setting Process.

Apply the 3-Step Goal Setting Process for each of your hopes and dreams! These include describing your goals to the most specific detail you can think of, knowing the cost of your goals today, and adjusting these costs for inflation.

Don’t forget to use the Money University My Goals worksheet in the Worksheets section of your Money University account for this! It’ll make this process so much easier as it automatically computes the real, inflation-adjusted cost of your goals for you. No more second-guessing if your computations are right or wrong!

After doing this step, you should now have on hand the inflation-adjust cost of each of your goals.


3.   Put up your Goal Board.

You might have heard of a “Dream Board” from other sources. This is basically a cartolina or 1/4 illustration board made up of images of your dreams and deepest desires.

For most people, this typically consists of images of a mansion, several fancy cars, vacation homes, trips around the world, a happy family, investments, and a host of other dreams that people want to have in the future.

Here is an example dream board we found on the net:

Photo courtesy of Loael's WordPress site.

Photo courtesy of Loael’s WordPress site.

This Dream Board is usually put up in our respective bedrooms so that every day we wake up and every night before we sleep, we’ll be able to see our dreams and deepest desires. This helps remind us of what we want to have in life and thus, makes us focus on aiming for doing the best we can do every day to achieve our dreams.

Here in Money University, we’ll take the Dream Board a notch further by putting up a Goal Board instead.

What’s the difference between a Dream Board and a Goal Board?

Well, in case you’ve forgotten, we at Money University want you to have goals instead of dreams.

23 - DreamsWhy is that? Because more often than not, dreams become just that — dreams. They’re just in your head. They’re just fantasies.

Dreams do not have concrete details behind them. Dreams do not have timelines, action plans, and next steps. Dreams often are not even real and only exist in your sleep!

The Merriam Webster defines dreams as:

A series of thoughts, visions, or feelings that happen during sleep; an idea or vision that is created in your imagination and that is not real.

But goals are different. The Business Dictionary defines goals as:

An observable and measurable end result having one or more objectives to be achieved within a more or less fixed timeframe.

On top of that, Wikipedia defines goals as:

A goal is a desired result that a person or a system envisions, plans and commits to achieve: a personal or organizational desired end-point in some sort of assumed development. Many people endeavor to reach goals within a finite time by setting deadlines.

See how different goals are?

Goals are Specific, Measurable, Achievable, Realistic, and Time-bound. Dreams are just imaginary thoughts that enter your mind when you’re sleeping.

Thus, a Goal Board consists not only of images of what you want to achieve BUT ALSO specific details, timelines, AND the inflation-adjusted monetary costs of these images!

Write these details, timelines, and figures on the images of your Goal Board! With these details and figures, your aspirations will not be left as just imaginary dreams — but you convert them into actual goals that have concrete, monetary costs that you should work hard to attain within your desired timeline!

To illustrate, let’s take the dream board above and try to convert it into a Money University Goal Board. This is a sample of how it should look:

23 - Goal board

As you can see, by displaying the details, timelines, and future costs of your goals, Goal Boards are action-oriented. Dream Boards are simply imagination-oriented.

So make sure to put up your Goal Board — not Dream Board — now!


Can you picture seeing your Goal Board in your bedroom every day? You get to see your deepest desires and aspirations, their respective costs, and timelines when you want to have them.

It might be daunting but this sure is more effective and more motivating than a plain old Dream Board, right?



With these latest Action Steps, we wrap up our discussion of Point B (Where you want to be).

You now have positive money thoughts that you can use to replace your old, negative money thoughts. These old thoughts haven’t taken you anywhere financially so it’s high time that you dump them for helpful ones!

You have also set your own financial goals. Whether it be your dream house, future car, dream business, children’s education, financial freedom, or something else, you now have concrete, monetary goals that you can truly work hard and aspire for!

And with your Goal Board in place, you now have a daily reminder of what you want to achieve in life and the cost associated with them. This way, you constantly remind yourself that these aren’t just dreams. Rather, you’re going to have to work hard every day so you can attain the amount of money necessary to reach your goals!

In the next section of Money University, we’ll then share with you How you can get from Point A to Point B.

This is where the real action takes place.

This is where you find out if you can truly reach your financial goals.

Are you ready? We hope you respond with a resounding YES!!!

Let’s get to it! Check out the next Money University article so we can be on our way to getting started soon!