Why Pinning Money Goals On A Bulletin Board Is A Dumb Financial Strategy

ryan gosling

Hate to break it to you, but the universe won’t pay for your luxury cruise.

Just like tacking a picture of Ryan Gosling to a bulletin board won’t land me a date with the “Drive” star, pinning my money goals on a vision board and willing them to come true with a hope and a prayer isn’t a sound financial strategy.

Carl Richards, a personal finance planner whose napkin sketches playfully illustrate his thoughts on money management, argues that most of us believe in The Secret, Rhonda Byrnes’ acclaimed bestseller on the law of attraction, because on some level we buy into the fake-it-till-you-make-it strategy.

But faking a luxury lifestyle comes at a price. Using material goods as a ruse to keep up with the Joneses isn’t a plan—it’s a one-way ticket to debt. It’s like the lawyer who claims he “needs” to drive a BMW in order to land more clients. Really what he needs to do is go on a BS diet.

Setting your mind to something is one thing, and as U.S. Money has reported, knowing why you want to save is the first step to reaching your money goal. However, positive change takes more than a vision. It takes determined, consistent hard work, and most of us would prefer to avoid that.

“If it were all about thinking, we’d all be billionaires,” Richards writes on his blog, behaviour Gap. “Instead, when we apply the law of attraction to our financial lives, it’s important to realise that patience and discipline over long periods of time make the biggest difference.”

Click here to see 20 napkin sketches that will teach you everything you need to know about saving money >

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