We seem to think that the people around us have everything in life.
Tradeoffs in others take time to become apparent. Everyone lets go of something, making a sacrifice, to be able to focus, investing time and energy in what is important to them.
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The necessity of making trade-offs alters how we feel about the decisions we face; more important, it affects the level of satisfaction we experience from the decisions we ultimately make.
It becomes impossibly hard to completely fine-tune and balance your work, family, health, relationships, friends and hobbies.
We may have to let go of one of the areas to be able to fulfill the others.
A tradeoff is inevitable in almost every decision we take, as we usually forego some opportunity or benefit in our choices.
Many people strive for everything and believe there are no tradeoffs.
Focussing on less can get you something but focusing on everything may get you nothing.
Knowing these and other biases is not enough. We need a framework for making decisions.
Before making a decision, considers how you’ll feel about this decision in 10 minutes, 10 months, and 10 years.
It’s easy to make short-term decisions that may be beneficial 10 minutes or 10 months from now, but these types of decisions usually don’t benefit us in the long-term. What’s harder is to make decisions that may not appear attractive or impactful in the short-term, but over time can have a positive impact in your life.
Deciding is too much effort so we’re likely to just stick with the default or safer option if it’s already been chosen for us.
When we get offered too many choices, the same thing happens—we shut down, unable to decide. Often, we end up simply choosing anything, just to get the process over and done with.
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