Dreaming of a banjo means you are getting ready to let loose. Everything leading up to this moment has been about conforming to the expectations of others and the rules that everyone has to play by. No longer are you content with just getting by or acquiring more things. Break out the banjo and create your own fun.
Commonly, if you are playing the banjo in your dream, it means that you are feeling happy and content with your life. It also could mean that you need to take yourself less seriously and be more relaxed, or it may be an indication of upcoming success in some endeavor.