Making Financial Choices

Making Financial Choices



Making Financial Choices
It can be hard to​ make choices in​ regards to​ your finances .​
But you have to​ get used to​ it .​
It is​ part of​ managing your money wisely and being an​ adult .​
Choices have to​ be made.
So what can you do?
First, don't spend time worrying about the decision .​
Worry does nothing .​
No one has ever had a​ bill paid by worry .​
No one has gotten out of​ debt by worrying or​ made a​ million dollars by worrying .​
Worrying gets you nowhere.
Actually, too much worry can get you into trouble .​
People make rash decisions when they are desperate .​
And worrying can make you desperate for the first solution that comes along.
Instead, you need to​ set a​ certain amount of​ time aside during the day to​ think about your decision .​
When that time is​ up, you walk away and leave your thoughts there .​
I​ know this is​ hard to​ do, but if​ you are truly working towards making a​ decision during your time, you should be able to​ leave it​ there for a​ while.
The choices you have to​ make shouldn't consume your entire life .​
That is​ no way to​ live.
Start by writing things down .​
This can be an​ effective tool for organizing your thoughts, comparing choices and getting a​ sense of​ the true situation .​
For some reason, when you see things on paper, they often look much differently .​
You are often able to​ leave things alone for a​ while and clear your mind if​ your thoughts are safely on paper.
For example, if​ you are deciding whether or​ not to​ sell your home, you could make a​ few lists .​
Start with your selling of​ the home page .​
List what you gave for the home, including closing costs and an​ major improvements .​
Then write down how much you owe .​
How much do you expect to​ get for your home? Write down a​ few realistic numbers .​
Now you can see what your profits might be.
Then look at​ your options for after you sell your home .​
Are you looking at​ moving up? Calculate what your mortgage payment would be if​ you moved into a​ larger home .​
Then look at​ moving down .​
I​ know that idea may not make sense to​ you, but consider what having even less of​ a​ mortgage might mean to​ your finances .​
If you are in​ a​ financial pickle right now, a​ smaller mortgage might be helpful.
Put things down on paper .​
When you are in​ debt, this is​ one of​ the best ways to​ start looking at​ how you will deal with your debt.
Most importantly, decisions must be made .​
We make small ones every day .​
Large ones seem so much more important and take more time .​
But you can't second guess your every decision .​
Once you make your choice, it​ is​ made .​
And you will deal with the consequences .​
Take your time, review the facts and use your calculator .​
Don't just rush into things based on emotion .​
Remember, plans don't always work out and you have to​ reassess the situation .​
But if​ you plan wisely and take your time, things will work out in​ the long run.




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