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The 3 Decisions That Will Change Your Financial Life

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https://observer.com/2016/03/the-3-decisions-that-will-change-your-financial-life/

observer.com

The 3 Decisions That Will Change Your Financial Life
There's nothing worse than a rich person who's chronically angry or unhappy. There's really no excuse for it, yet I see this phenomenon every day. It results from an extremely unbalanced life, one with too much expectation and not enough appreciation for what's there.

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3 key decisions that dictate the quality of your live

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Belonging To A group

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Give Your Work A Purpose

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Qualities a purpose needs:

  • It's a stable and far-reaching goal. You need something that motivates you and that you can organize your actions around.
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Every Decision In Life Becomes a Trade-Off

Every Decision In Life Becomes a Trade-Off

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Good and Bad Decisions

Decisions are a cost-benefit analysis of risking something small for the opportunity to gain something big.

  • Good decisions can be: Exercising, meditating for 10 minutes daily, finding the courage and striking up a conversation with someone, applying for jobs that you may or may not get.
  • Bad decisions can be: lying or pretending to someone, driving unsafely, sending angry text messages, or staying up late drinking before an important meeting or exam in the morning.

Trade-offs and Life Values

Trade-offs are not something as simple as flipping a coin. Our values guide us towards what we want in life, and it is not the same for all. Example: Buying a house has a trade-off of mortgage for the next ten or more years. This is subjective and depends on what we value in life.

Indecisive people suffer because they don’t know their inner values and what they care about.

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Making decisions

Making decisions

Decision making is critical for entrepreneurs. Every day, you have to set out on a course of action, choose tactics, evaluate results, and otherwise choose from arrays of options.

4 common mistakes that can trip you up

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  2. Dredging Sunk Costs. Estimate how much the decision would take in total to follow through. If the cost is higher than the benefit, change your decision.
  3. Drowning in Data. Identify less than 10 pieces of relevant data that will have a strong impact on your decision's outcome. Then forget everything else.
  4. Do-or-Die Mentality. Realize that every decision is temporary. Use an overall decision-making strategy that stretches over time, not that imagines each moment to be the most critical one for the business.

Helen Keller
“People don’t like to think, if one thinks, one must reach conclusions. Conclusions are not always pleasant.”

Helen Keller

Think big, act small

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Problems are unanswered questions

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A problem is nothing but an unanswered question. So stay calm. And figure out the answer.

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Move from your center

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Great Results

... are built from small actions that you take every day.

It is your habits that will determine who you are and what you can accomplish in the future.

Start Your Day Early

Wake up early and you can spend some undisturbed time alone and do your most important tasks or get ready for what is coming during the day.

You may feel uneasy and uncomfortable at first, but you need to overcome it and turn it into a habit. Wake up 15 minutes earlier and gradually improve from there can be a good strategy.

Spend 30 Minutes Into Reading

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Epictetus

Epictetus

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Marcus Aurelius

Marcus Aurelius

“The happiness of your life depends upon the quality of your thoughts: therefore, guard accordingly, and take care that you entertain no notions unsuitable to virtue and reasonable nature.”

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Eat That Frog!

Your “frog” is your most important task, the one you are most likely to procrastinate on if you don’t do something about it.

If you have two important tasks, start your day with the biggest, hardest, and most important task first. Focus on completing it before you go to the next one.

Failure to execute

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“Failure to execute” is among the biggest problems in organizations today.

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