... and boils down to what we give up to attain something. Our mindsets are inclined towards pleasure and resistive towards pain. We normally like to think in terms of gaining, success, and acceptance. 
We forget that there are always two sides of the coin and loss, failure and rejection come hand in hand whether we like it or not.

Every Decision In Life Becomes a Trade-Off

Problem Solving

Decisions are a cost-benefit analysis of risking something small for the opportunity to gain something big.
<ul>
<li>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.</li>
<li>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.</li>
</ul>

Good and Bad Decisions

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.

Trade-offs and Life Values

Humans are not good at impartially evaluating the risks and rewards of any decision.
Our ‘thinking’ brain loses out to our ‘feeling’ brain, that is our natural cravings, desires and urges. We can curb this by being self-aware and thinking through any important decision.

Our Emotions Hijack Our Objectivity

It is a quirk which makes us value the present opportunity more than a future opportunity. This is known as ‘Present Bias’ in psychology.
Example: If offered a choice between getting $100 now or $150 after a year, we are more likely to take up the money offered right now.

Temporal Discounting

If we practice something (learning a new language for example) for just 30 minutes a day, we normally do not realize or understand that by practising daily for 365 days, we are better in that activity 3778 per cent or about 38 times. 
If we are practising the same skill every other day, we do it for 180 days, that is half the effort and improve by 611 per cent or about 6 times. Missing out on just one day of practice has vast compounding effects by the end of the year.

Our Minds Are Bad At Compounding Stuff

Our perceptions and emotions get skewed when we are in the presence of extreme beauty, power and wealth.
People of status and power are constantly bending reality around us and creating a ‘Halo Effect’, making us feel that they are smarter, more amusing and charismatic than they really are. This affects our judgement and decision making.

Status Distorts Our Perceptions

<ol>
<li>Write down your thoughts. This helps in being objective and map out your decisions. This also brings clarity to the mind.</li>
<li>Override your anxiety by doing what is required, even though it may be inconvenient or unpleasant. 3. Understand what our weaknesses are. Then hack or alter your routine to ensure the weak spots do not diminish your productivity or decision making.</li>
<li>Change your environmental settings and reduce junk information consumption. You could stop meeting toxic people and remove Facebook from your phone.</li>
</ol>

How To Make Better Decisions

Running away from decisions and being indecisive is also a decision. Action becomes your friend here, and it is good to get out of the comfort zone and take risks, instead of being in a mental paralysis.

No Decision Is A Decision Too

Making decisions in life come down to trade-offs. And it just so happens we're really bad at evaluating trade-offs.

Good and Bad Decisions

7 Ways To Stop Making Bad Decisions

Make Better Choices

Fear-Setting: How to Define Your Fears

Fear-setting

The ideas behind fear-setting come from Stoicism

Our worst-case fears aren’t that bad

These Six Questions Will Improve Your Decisions - Darius Foroux

Improve decisions by focusing on the process

Thought-provoking questions

Think about what you can’t know