Sometimes it can cost you refuse to buy something or recognize if it really is time to take their ‘nest egg’ and invest in the business that you have been talking a while.
How to be smarter about it?
Manage money is not simple or easy, especially when you’ve had bad experiences or when it has seen dramatic or tragic cases that are close to you, or bad debts related investments. The road is not easy, but it is not impossible.
However, it is also true that much of this is related to the attitude and mindset you have, as well as financial education and their interest in better with the money. In addition, behind it all, there is an element that many people do not recognize but always end up permeating and influencing decision-making.
The reason is basic: emotions. According to a study by Psychology Today, they allow evaluate and summarize experience and report on the possible consequences of their actions. Many of them are aligned according to their ethics, perception of life and projects, as well as their life story, allowing you to have an almost immediate response, need to consider when making a decision.
Therefore, it is important that you start nontransparent, so you can become free of the weight that can have emotions, especially when you have to make a financial decision that involves spend, save or invest money and, its consequences, can significantly affect your budget.
You maybe interested to read another article on LifeStyleQA: Savings and Investment
How to do it? Here are some key lets you by experts so that, next, is your head and not your heart take money decisions:
1 – Something tangible: You can see, feel and touch. We discussed that it is important to make a commitment to yourself that you can write on paper or watch daily as a reminder. Psychologically, you will feel more committed, because seeing is in breach of that commitment, you will feel more remorse, according to the expert Nick Kolenda, at Transamerica.
Put your goals in a visible place where even your eyes can accidentally get to give. Write or draw what you want: save up for a trip, get out of debt card or start investing to buy a house. You see this every day, create a kind of ‘subliminal message’ to abridge their emotions when making decisions.
2 – Anything related to financial decisions, it is better to do it from morning. According to US News, being tired after a day’s work with a lot of tension for some particular situation, do you have a mental wear, that will make it more susceptible to bad decisions.
Meanwhile, if you are willing, with energy and attitude to start the day to make payments or investments, it will be easier to analyze the pros and cons of doing so or not; allowing you to be much smarter and do not carry direct the empty pocket.
You maybe interested to read another article on LifeStyleQA: 6 Tips to protect your money
3 – Stamina: Above all, for what it be big money decisions. The challenge will be: will have seven days to consider whether a positive or negative decision answer, whether or not it convenient and day after day search for new pros and new cons to help you better analyze the situation, especially establishing an overview of possible consequences, after taking the decision.
This also implies that is displayed in both cases. For example, if you want to buy a car and may have saved some money but do not know if it is more convenient, consider being mounted on one and traveling but also do it by imagining amid a traffic jam. Another way is to think that money on what other things can come to invest and if you perhaps can generate more happiness or satisfaction.
Leave a Reply