January 23, 2012

Tips for Making Tough Decisions


I recently got a newsletter from Dave Ramsey. It had some great points on how to make decisions, especially the big ones. Though his perspective was directed for businesses, I thought I would modify the tips below for students. I think there is some really important points to consider as you are moving along here at CPTC. Enjoy!

1. Setting a Deadline
Come on. You know you've done it. You put off making that tough decision by simply justifying your procrastination. Combat the "put-off" syndrome by giving yourself a deadline and placing it on your calendar. It will force you to deal with whatever is happening.

2. Taking Your Time
Part of making good choices is taking your time on monumental decisions. How do you know if the decision is big? Look at how much
money is involved, how much time involved as the result of the decision, and how many people would it impact. When these areas are effected, you should reflect on your decision.
 
3. Gathering Options
Options take away a lot of the fear of making the wrong choices. If something doesn't work, Plan B is always available.

4. Gathering Information
The late British Prime Minister Benjamin Disraeli once said, "The most successful man in life is the man who has the best information." And when it comes to decision-making, we agree. The more information you have, the easier it is to recognize the best choice. As Dave says, "Information removes fear."

5. Avoiding Financial Risks
When making a decision, ask yourself if you can handle the financial hit if everything goes south.

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