Create a Vision Board to Help the Whole Family Save
May 13, 2022
Visualizing your goals using pictures instead of numbers can be a very impactful way to help you save. Unlike traditional vision boards, a financial vision board specifically relates to your finances, whether it’s saving money for a vacation or future home, getting out of debt, or increasing your income. And when you do it as a family, it has the bonus of helping you work as team toward your various goals.
Here’s how you can get started:
- Begin by discussing each family member’s goals in categories like relationships, health, community, giving, professional, education, and financial. This will act as the foundation for your vision board, informing what comes next.
- Now think about how to connect the goals to your budget. Start collecting photos that relate to and inspire your goals from magazines, newspapers, books, or print images you find online. Here are ideas to get you started:
Purchasing a home: Visualize your dream home (interior, garden, furniture).
Saving for retirement: Places you want to visit, activities you want to do, where you want to live.
A healthier you: Buying fitness equipment, joining a gym, meal planning.
Vacation: Budgeting for airfare, hotel, food, bucket list destinations.
For the kids: A bike, amusement park trip, video game system, college.
- Once everyone has corresponding pictures, place them on the vision board(s) and put it in an obvious place so it can be viewed frequently.
- As goals change or as you achieve them, come back together for a family meeting and update it or make a new board.
So, what is your financial vision board going to look like?
If you’d like to learn more, visit this page on Jean Chatzky’s hermoney.com.
PPP Forgiveness Application Deadline
Congress passed The Economic Aid Act which changed the deferment period from 6 months post covered period to 10 months post covered period. For example, if your covered period ended June 30, 2021, under the new guidelines the earliest your first loan payment wouldn’t be due until April 2022, and you have until then to request forgiveness. Please use the following calculation to help you identify when your forgiveness will be due:
- PPP borrowers may select a covered period anywhere from 8 weeks to 24 weeks.
- RCU is automatically calculating your loan due date based on a 24-week covered period, if you intend on using a shorter covered period please inform us immediately as this will impact your due date.
- Your correct deadline will be reflected in your online banking account.
If all or part of your PPP loan is not forgiven, your first loan payment will be due the first of the following month after a decision is made by the SBA.
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