Comments on: Improve Your Decision Making Skills to Improve Your Finances

By: Valentino Buoro

Valentino Buoro — Tue, 01 Jul 2008 10:02:52 +0000

Your article makes very interesting reading. I think the key word here is practice.Some people drop off such laudable practice of thinking through their expenditures simply because they try and fail a couple of times. To some others who buy on impulse the only restrictive factor is when they have no cash on them. That is why I am also convinced by the sound advice that those who fall into this second category should do a budget daily and keep on them just enough cash to meet the the budgeted expenditure. Be this as it may, one crucial issue here is , what happens in a case of financial emergency.

By: Steven

Steven — Sat, 28 Jun 2008 15:24:00 +0000

I just finished reading The Paradox of Choice by Barry Schwartz. It’s a great read to compliment this great post.

By: Joseph Ganem

Joseph Ganem — Wed, 25 Jun 2008 02:09:09 +0000

I share your frustration with too much choice. It irritates me when I shop, the amount of time I waste looking for simple items. I spent 15 minutes in the dairy isle the other day looking for heavy whipping cream. I found dozens of flavored coffee creamers, cream substitutes, fat-free creamers, lactose-free creams, cans of whipped creams in various flavors, but no heavy whipping cream. It’s as if the store forgot it amongst all the clutter. I ended up having to buy the more expensive “organic” whipping cream. But, I decided that was cheaper than wasting time and gas going to another store.

By: The Hoss

The Hoss — Mon, 23 Jun 2008 17:25:30 +0000

Setting financial priorities is definitely having an ability to determine what is need versus what is wanted.

The Hoss

By: cheryl

cheryl — Mon, 23 Jun 2008 13:25:28 +0000

I think this is at the root of many spending issues today that did not exist when I was growing up in the 70’s. Not only are there exponentially more consumer goods to aspire to, our thinking is more distracted and impulsive, in general. As an educator, I do a variety of trainings and often try to talk about this issue of identifying values,setting goals and establishing priorities. I think it helps in determining how we spend not only money, but also time and energy.

By: roberts

roberts — Mon, 23 Jun 2008 11:28:40 +0000

Thank you for this article. One of the hardest things to convince people is that personal finances has only a little bit to do with money. It has to do much more with how we act with making decision being one of the ways we act. I will be passing this along to my list of friends.

By: deanna

deanna — Mon, 23 Jun 2008 11:20:17 +0000

I sometime wish for simpler times when there weren’t quite as many choices as there are today. It can all get overwhelming.

Learning how to decide is a skill that people rarely realize is a skill. They think there is no practice needed, but once you realize that every choice has a consequence, you realize how difficult it is to be a skilled decider.

I’m still learning, but I am actively pursuing bettering my decision making skills.

By: Madhu

Madhu — Mon, 23 Jun 2008 08:07:17 +0000

Hi Shannon! I like your post and I wish you will get more and more time to write.

Management more than money matters!

Thank you for your post.

Happy earning,thinking and then spending and investing.

Cheers.