I used to have a terrible time making decisions in life. It all came to head one week when I had three different job offers and no clue which one to take. I resorted to putting the names of the companies in a hat, flipping a coin, calling every good friend I knew for advice and more. The deadline to make a decision was fast approaching. How did I solve it? A blown-out-tire forced me to choose the job that was the closest and easiest to place to make the commute.
Pathetic, no? I vowed after that to work on my decision making skills. Not only has being able to make decisions made my life easier, but consequently, it has also allowed me to save lots of money. That is because regular decision making in your daily life can result in giving you a good dose of perspective and the ability to see the big picture. Once you can do that, good decisions about earning, saving and getting out of debt will start to fall in to place. It will be easier to save.
Good decision makers do their research to find the best options and do not become distracted or swayed by deceptive ones. For example, when buying a major appliance, someone with good decision making skills won’t choose the cheaper option just because it appears inexpensive. Instead, he or she will choose the product that will last the longest (within budget) and then go about getting it for a good price.
With practiced decision making comes confidence, and with it the need for instant gratification decreases. There is never usually a fear of scarcity or having to decide something immediately, because experience has taught that doing research, being prepared and knowing exactly what you want means that there is always another opportunity to save money or get a deal.
Yes, there are those times in life when a decision has to immediate, but good decision makers can still rely on their proven methods and apply them under pressure, making for a positive outcome.
Ultimately, good decision making usually requires at least one, if not both of the following qualities: organization and instinct.
Cultivate these qualities in your daily life, and you will learn to make better decisions and save money.