Money Fundamentals

How to Create a Personal Vision Statement for Your Money

By articulating your values, aspirations, and long-term goals, you create a roadmap for your financial journey.

It’s important to create a personal vision statement. Doing so will guide you in setting financial goals that align with your values.

A clear vision for your life is essential to financial well-being.

Unfortunately, many financial advisors will ask about financial goals without discussing your life vision. I believe it’s important to get clear about your vision, values, and life milestones before you set financial goals.

I covered this in my book, You Only Live Once.

In the book, I shared how we’re taught to plan to buy a house when we may dream about traveling the world. We’re advised to save for a downpayment for a car, but not how to achieve financial independence. We’re setting financial goals that often don’t align with what we actually want out of life.

What’s a Personal Vision Statement?

A vision includes all your thoughts and feelings and all your hopes and dreams. A personal vision statement helps you decide the important goals and becomes your framework for spending money and time.

When you have a clear vision of where you’d like to go, you’re not swayed by shiny new things or other people’s priorities.

Personal Vision Statement Defined

A personal vision statement is your guiding star, illuminating the path toward your life aspirations and financial goals.

The statement is a concise declaration of your core values, aspirations, and long-term goals. It encapsulates your desired future state, providing clarity and direction for your life’s journey.

While often associated with career or business endeavors, a personal vision statement extends to all facets of life, including personal development, relationships, and, importantly, financial well-being.

Why is a Personal Vision Statement Important?

  1. Focus: A personal vision statement clarifies what truly matters to you, helping you prioritize your actions and decisions.
  2. Motivation: It serves as a source of encouragement and inspiration, fueling your commitment to achieving your goals, even in the face of challenges.
  3. Alignment: A personal vision statement articulates your values and aspirations, ensuring that your financial goals align with what’s most important to you, fostering a sense of purpose and fulfillment.
  4. Goal Setting and Planning: It forms the foundation for setting specific financial goals and crafting a strategic plan to achieve them, guiding your financial decisions and behaviors.
  5. Resilience: In times of uncertainty or change, a personal vision statement provides a stable anchor, helping you stay adaptable while navigating life’s twists and turns.

How to Create Your Personal Vision Statement

Step 1: Reflect on Your Values

Consider what truly matters to you in life. What are your core values, beliefs, and aspirations?

Some things that matter in your life might include:

  • Wealth – the means to live life
  • Family – feeling of belonging
  • Relationship – intimacy
  • Education – knowledge increases opportunities
  • Travel – experiences bring joy
  • Health – necessary for comfort

Ask yourself why these things matter to you.

Step 2: Visualize Your Ideal Future

Envision your desired future state. If you have all the money in the world, list the things, experiences, and people that would matter to you.

Use the following questions to get more clarity:

  • What does financial success look like to you?
  • What kind of life do you want to be living in retirement?
  • What do you want to achieve personally, professionally, and financially?
  • What makes you happy?
  • How do you want to be remembered?
  • What do you want to create in the world?
  • How do you want to improve your local community or the world?
  • What do you enjoy doing? How does it make you feel?
  • Who do you want to be surrounded by? What kind of people fulfill you?

Step 3: Write It Down

Craft a concise statement that captures your vision for your financial future. Keep it clear, specific, and inspiring.

The vision statement can be one sentence or one to three paragraphs. Remember, it needs to reflect your vision for your life and compel you to action.

Step 4: Review and Refine

Review your personal vision statement regularly, ensuring it remains relevant and aligned with your evolving goals and aspirations.

Your personal vision statement can and may change as you grow and experience the world. It is important to have it to guide you now and to update it as your values and dreams evolve.

Vision Statement Example

This statement will emphasize your ideal life while highlighting some key values.

My vision statement: I will spend my time finding the meaning of life, exploring it, experiencing it, and sharing the wonders of the world. I will serve a purpose that fulfills my mind and spirit.

My personal vision statement might seem vague, but it helps me filter out the type of work I undertake. If I won’t learn anything new or push my abilities or mental thought, then I’d pass on the opportunity. It has helped me choose my business partners, projects, and, ultimately, how I spend my time.

Other Examples of Personal Vision Statements

  1. “To live a life of financial freedom, abundance, and generosity, where I can pursue my passions, support my loved ones, and make a positive impact on the world.”
  2. “To achieve financial independence by age 45, allowing me to travel the world, spend quality time with family, and pursue entrepreneurial ventures that align with my values.”
  3. “To create a secure and prosperous future for myself and my family, characterized by financial stability, lifelong learning, and a spirit of giving back to my community.”

How a Vision Statement Help with Financial Planning

1. Setting Financial Goals

Your personal vision statement serves as the North Star guiding your financial goals. It informs the goals you set, whether saving for a dream vacation, purchasing a home, or achieving financial independence.

2. Prioritizing Spending and Saving

Aligning your financial habits with your vision statement allows you to prioritize spending on what matters most to you while curbing expenses that don’t contribute to your long-term goals.

3. Staying on Track

A personal vision statement is a constant reminder of your aspirations, helping you stay focused and motivated to progress toward your financial goals, even when faced with distractions or temptations.

4. Adapting to Change

As life evolves, your vision statement may evolve as well. It provides a framework for evaluating and adjusting your financial goals and strategies to ensure they align with your evolving values and aspirations.

By articulating your values and long-term goals, you create a roadmap for your financial journey, guiding your decisions, actions, and priorities.

Jason Vitug

Jason Vitug is a bestselling author, entrepreneur, and founder of phroogal.com and thesmilelifestyle.com. His purpose to help others live their best lives through experiential and purposeful living. Jason is also a certified yoga teacher and breathwork specialist and has traveled to over 40 countries.

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