achieving your dreams

Budgeting in action: research and create a ‘Life Goals Budget’

Please download Accessible Psychology’s ‘Financial Budgeting Spreadsheet’ below, to take part in today’s exercise:


Download “Finance-Budgeting-Spreadsheet.xlsb” Finance-Budgeting-Spreadsheet.xlsb – Downloaded 282 times – 17 KB


Life Goals Budget, Part One


Now for the super fun part! Research your top three life goals and how much they will realistically cost. Then enter in the amount you will need to save, entering in when you will start saving.


Remember to pay off all debt before saving (this is a goal in itself) and to save for things like six months worth of living expenses, pensions and insurances as well as your life goals.


Why spending could be damaging your dreams; How to create a budget that supports your life goals Part One

Photo courtesy of Shutterstock

Photo courtesy of Shutterstock


When I was younger my dreams seemed so far away. I realize now that it was just that I didn’t fully understand how to make SMART goals, goals which were broken down into manageable and realistic steps. One of the things that always used to stop me achieving my goals back then was the money it invariably took to achieve my ambitious plans.


Today I ensure I account for the money each goal requires in my budget, having done research into how much it would cost and working out how long it would take me to save for it in turn. I then incorporate how long it takes me to save for each goal into the deadline for the goal itself. This holistic approach to goal setting has served me well.


In this series I’ll walk you through how to prevent spending damaging your dreams by helping you to create a budget which supports your life goals. Let’s get started!


How spending could be damaging your dreams