We make decisions every day. Some decisions are easy: what to wear, what to eat, and what to watch. Some decisions are tougher: what career path to take, how to spend out money, what relationships to pursue.
Whether you’re making a big or small choice, here are 3 questions to ask before making a decision.
What are the short-term effects of this decision? Think through what the immediate ramifications of your choices could be. For example, if you buy something, you’ll have less money in our bank account. Or if you eat a meal, your body will feel full. When making any decision, it’s key to begin by thinking through the immediate, short-term effects.
What are the long-term effects of this decision? It’s not just about what we see right in front of us. Instead, it’s important to consider how our decisions will affect our future. For example, if you consistently make expensive purchases, the funds in your bank account will continue to decrease. Or if you frequently eat unhealthy meals, your health will suffer. Be sure you understand how daily decisions can lead to habitual decisions and long-term effects.
What are some potential unforeseen effects of this decision? As you decide which direction to pursue, it’s vital that you consider all the possible outcomes. For example, large expenses and a diminishing bank account may lead to a tight budget or even bankruptcy. Unhealthy meals and an unhealthy lifestyle may lead to a scary medical diagnosis or even a shorter life span. That’s why considering potential unforeseen effects of our decisions is so vital.
Here at Weber CPA, we love helping people make wise decisions with their business and finances. Get connected with us today!