I was reading this month’s issue of Money Magazine over the weekend and came across an article titled…
What To Do With $1,000 Now: Here Are 68 Of The Smartest Options.
SIXTY EIGHT OPTIONS?! Are you kidding me?!
Now I understand that they are in the business of just presenting people with the possibilities and allowing them to choose what’s best based on their individual circumstances. But who in their right mind wants 68 options to choose from? This was a great example of why most people end up doing nothing with their money except waste it. If I’ve got 68 options to choose from, then I’m probably going to take the path of least resistance which is to spend it on something I don’t need.
Who has the time to truly sit down and evaluate all 68 options to determine which one best suits their needs and situation? So what can we learn from this?
- Don’t Allow Yourself Too Many Options – Limit the possibilities from the beginning. Whether you’re selecting a college, where to go for vacation, or what to have for dinner, don’t allow yourself to have 68 options! Keep it to just a few and you’ll be more likely to make a better decision.
- Don’t Over-Think Things – Once you’ve got your initial list of just a few options, there’s nothing wrong with taking the time to analyze your options. Make a list of the pros and cons of each. Compare apples to apples. How is (A) better than (B)? Keep in mind though that not all decision require this much thinking. If I’m picking a vacation destination, I’ll definitely think through my options but if I’m deciding what to eat for lunch, you won’t find me making a pros and cons list!
- Make The Decision – Don’t put off the decision. Once you’ve determined what the best course of action is…DO IT! So often people are guilty of talking about doing something different but not actually doing it. If you just talk about it but you don’t actually take action, you’re wasting your time.
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2 Comments
Great post, buddy! Just added it to our HUGE PLI Delicious database under the Wise Judgment PLI Essential. Thanks!
This is so true. While I was in Montreal I got to listen to an “expert” from Princeton illustrate this very fact. The more options there were cause the decision capability to plummet. Simple is better in just about everything.
It was funny so see how this applied beyond money topics to the was surgeons make decisions. Well, maybe it wasn’t funny, but scary.