We all have dreams, aspirations that flicker in our hearts and minds, urging us towards a future we envision. But often, these dreams feel unattainable, blocked by a formidable obstacle: money. It’s a common sentiment – the belief that financial limitations are the ultimate dream killers. Yet, what if the barrier isn’t as insurmountable as it seems? What if finding the money for your dream is less about luck and more about resourcefulness and a willingness to invest in yourself?
Last weekend, I experienced this firsthand. My cousin’s son, Chris, a former Uber driver now venturing into insurance, needed a suit for his first professional conference. Seeing this as a pivotal moment in his career transformation, I didn’t hesitate to buy him a suit, shirt, tie, and shoes. Why? Because I believe in his potential. This wasn’t just about clothes; it was an investment in his future success, a way to boost his confidence as he steps into a new professional world.
Chris, approaching 30, is at a turning point. He’s worked various jobs, but this insurance opportunity, guided by my boyfriend (his boss and mentor), is different. It’s a career path, a chance to build something lasting. Witnessing his growth and determination, spending nearly $500 on his professional wardrobe felt like a worthwhile investment.
Later that day, while passing through Belk’s, a Kate Spade bag caught my eye. The ‘Yours Truly Heart Stripe Hallie’ tote, a stylish canvas bag, was beautiful, but at $200, it felt overpriced. I hesitated to spend that on myself, especially after just spending significantly more on Chris. This sparked a crucial question: Why are we often more willing to invest in others than in ourselves?
The Self-Investment Disconnect
Buying Chris’s suit was instinctive. It felt like the right thing to do, an investment in someone else’s potential. But when it comes to investing in ourselves – hiring a career coach, pursuing further education, or starting a business – hesitation often creeps in. We might readily spend money on our children’s education or a friend’s birthday gift, but investing in our own dreams can feel daunting, even selfish.
For many, formal education is seen as the primary, almost obligatory, avenue for self-investment. College loans, though often substantial, are accepted as a necessary step toward a better future. But what about investing in personal or professional development outside of traditional education? Why do we balk at the idea of hiring a coach to help us land our dream job or learn new business skills?
This reluctance is puzzling. We live in a world where many self-made billionaires bypassed traditional college routes, choosing instead to invest in themselves and their ventures directly. So, what’s the disconnect? Why is borrowing money for a degree considered acceptable while investing in ourselves to pursue our dreams often feels like a risky, unjustifiable expense?
Perhaps the answer lies in fear. Investing in yourself is inherently a gamble. It requires believing in your own potential, even when that potential feels uncertain or unproven. It’s like walking into a casino and betting on yourself instead of the roulette wheel – it takes a different kind of courage.
Four years ago, a colleague remarked to me, “Do you have any idea how powerful you are?” Her words resonated deeply, highlighting a power within me that I hadn’t fully recognized. Sometimes, we are blind to our own capabilities, making self-investment feel like a shot in the dark.
But to achieve our dreams, we must believe in our ability to win. I’ve taken bets on myself throughout my life, not just through student loans, but by creatively finding ways to fund my business ventures. If you’re ready to bet on yourself and find money for your dream, here are seven strategies to consider.
Seven Proven Ways to Find Money to Fund Your Dreams
1. Leverage Credit Cards Strategically
Credit cards often carry a negative connotation, but when used wisely, they can be powerful tools for funding your dreams. I didn’t hesitate to use a credit card for Chris’s suit, but the thought of charging business expenses to the same card often brings stress. The difference? Betting on someone else felt straightforward; betting on myself felt riskier.
Many aspiring entrepreneurs and individuals seeking career advancement have access to credit cards with decent credit limits. Yet, the fear of debt often paralyzes them, preventing them from investing in opportunities that could significantly improve their lives. Investing in career coaching, for example, is often tax-deductible and can yield a substantial return on investment (ROI). My clients typically see a minimum ROI of 1000 percent. Often, when cost becomes a barrier, it boils down to a fear of failure, a lack of belief in their own potential for success.
If you have good credit, consider options like Blispay, which offers quick approvals, interest-free periods, and cashback rewards. (Note: Always check current terms and conditions as these may change.) Remember to use credit cards responsibly and have a clear plan for repayment.
Bottom line: Credit cards, when used strategically and responsibly, can provide valuable access to funds for pursuing your dreams.
2. Explore Personal Loans
For those wary of credit cards or who may not qualify for favorable credit card terms, personal loans offer another avenue for funding dreams. During a challenging period in my life, when credit card access was limited, I turned to a personal loan to finance my business. While the interest rate wasn’t ideal, the loan provided much-needed cash flow and, importantly, helped rebuild my credit score through timely payments. This improved creditworthiness then unlocked better credit card options with balance transfer opportunities, ultimately saving thousands in interest.
Securing a loan can feel daunting, but it can be a necessary step to inject capital into your dreams, whether it’s starting a business, investing in education, or pursuing a significant career change. Resources like Lending Point (and numerous other reputable lenders – research current options) offer personal loans for various purposes.
Bottom line: Personal loans can provide a significant financial boost, enabling you to invest in your dreams, even if your initial access to credit is limited.
3. Tap Into Your Savings (Strategically)
A 2017 GOBankingRates survey revealed that a significant portion of Americans have limited savings. However, the survey also highlighted that a considerable percentage do have savings, even substantial amounts. While dipping into savings should be carefully considered, it can be a strategic move to invest in your future.
Consider your savings, including retirement accounts. While early withdrawals from retirement accounts often incur penalties, some plans allow for short-term loans from your IRA. If you can repay the withdrawn funds within 60 days, you may avoid penalties and taxes (consult with a financial advisor for specific rules and regulations). When I needed to invest in a business coach, borrowing from my IRA, despite its drawbacks, was the necessary step to propel my business forward.
Bottom line: Strategically using your savings, whether cash or retirement funds, can be a worthwhile investment in your future, especially when weighed against the potential long-term gains of pursuing your dream.
4. Don’t Hesitate to Ask For Help
Many are hesitant to ask for financial help, but you might be surprised by who is willing to invest in you. Parents, family members, or even friends might be open to providing financial assistance, especially when they see you are committed to self-improvement and pursuing a meaningful goal. We often readily seek support for traditional education, but it’s less common to ask for help with career coaching or business ventures.
In my own experience, I was surprised when a professional colleague offered to become an angel investor in a new business idea. It highlighted the importance of putting your vision out there and being open to unexpected support. Remember the story of Chris – he didn’t ask for help, but the offer was there because someone believed in him.
When asking for help, be clear about your goals and how the funds will be used to improve yourself and your future prospects. Frame it as an investment in your potential, not just a handout for personal expenses.
Bottom line: Don’t underestimate the power of asking for help. People who believe in you might be willing to invest in your dreams.
5. Launch a Crowdfunding Campaign
Crowdfunding platforms offer a powerful way to raise funds for specific projects or goals by leveraging the collective support of a community. A client of mine successfully used GoFundMe to raise money for relocation expenses related to a new job opportunity. While GoFundMe is often used for personal events and challenges, platforms like Kickstarter, Indiegogo, and Patreon (research current top crowdfunding sites for your specific needs) are geared towards creative projects, business startups, and entrepreneurial ventures.
Creating a successful crowdfunding campaign requires effort, including crafting a compelling story, setting a realistic fundraising goal, and actively promoting your campaign. However, the reach and potential for raising significant funds make it a valuable option for funding your dreams.
Bottom line: Crowdfunding can be an effective way to tap into a wider network and raise the capital needed to fuel your dreams.
6. Sell Unused Possessions
Most of us accumulate possessions we no longer need or use. Selling these items can be a surprisingly effective way to generate funds for your dreams. I personally sold items like my wedding dress and engagement ring (from a past marriage), realizing that selling remnants of my past could finance my future. Platforms like Craigslist, eBay, Poshmark, and specialized sites for jewelry or clothing offer avenues for selling your unwanted items.
Start by identifying valuable items you no longer need. Consider electronics, clothing, jewelry, furniture, or sporting equipment. Even smaller, less valuable items can add up when sold collectively. Think of it as decluttering your life and turning those unused items into fuel for your aspirations.
Bottom line: Selling your unwanted possessions is a practical and readily available way to find money for your dreams – turning clutter into capital.
7. Call in Favors and Debts
Consider if anyone owes you money or favors. Have you gone above and beyond to help others in the past? Now might be the time to call in those favors or collect on outstanding debts. Reciprocity is a powerful dynamic. People you’ve helped in the past may feel inclined to support you in return.
As Christian Bale’s character says in American Hustle, “Always take a favor over money.” While the context is different, the principle of leveraging reciprocal relationships holds true. Reach out to people who owe you favors or debts and see if they can provide financial assistance or resources to support your dream.
Bottom line: Don’t overlook the potential of calling in favors and debts as a source of funding for your dreams.
Reality Check: Determination is Key
Finding money for your dream is rarely easy, but it’s almost always possible. The most critical ingredient is unwavering determination. Persistence, more than talent or genius, is the driving force behind achieving any significant goal.
Think of Rudy Ruettiger, whose story, though dramatized in film, embodies this principle. Despite lacking the grades, physical stature, and financial resources, Rudy relentlessly pursued his dream of playing football for Notre Dame. His unwavering persistence ultimately led him to achieve his seemingly impossible goal.
What Rudy lacked in inherent advantages, he made up for with sheer, unyielding persistence. If you have a dream, don’t let the perceived lack of funds deter you. Be resourceful, stay determined, and go the distance. The money is out there; it’s your persistence and belief in yourself that will ultimately help you find it and achieve your dreams.
