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Identifying and eliminating unnecessary expenses
How to negotiate better deals
Understanding the importance of saving
7. Decision-making is linear.
In fact, good decision-making is circular; it needs a feedback loop as we gather information and analyze it and our thinking. At times, we need to revisit our decision as we gather new information.
When buying a car, for example, you might think that doing your research first and then going to a dealer and negotiating a price is enough. But there are many dealers, and they each have leeway to negotiate a price, so circling around and comparing offers may get you a better price.
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6. I trust my gut.
It’s great to rely on your instincts when picking a filter for your next Instagram selfie. But larger, high-stakes decisions benefit from prying open cognitive space to allow for new information and insight.
You may have set your mind on the Suburu Outback because you h...
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9. I have all the information I need.
While we may want to forge ahead, we can improve our decisions — and our satisfaction — by investing in a little bit of research and confronting assumptions with evidence. Looking into expert insights, industry reports, and research, can help you make an educated decisio...
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5. I know I’m right; I just want data or an opinion to confirm my own thinking.
Known as confirmation bias, this thinking flaw has been behind notorious failures from the subprime loan market implosion to
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2. I’m too busy; I don’t have time to give to this decision.
Putting off a decision is a decision in and of itself. However, intentionally slowing down to get clear on what you’re solving for will speed up your efficacy, saving you from a wrong decision later.
For example, taking a little bit of time to research prices before vis...
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1. I like to be efficient.
So many of us think efficiency means jumping right in and making a decision. But to be truly effective, we need to be clear on what we are solving for – a clear goal in mind.
For example, walking into a car dealership and buying the first car you see may feel efficient,...
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4. This is my decision alone; I don’t need to involve others.
Our important decisions do involve the world and/or people around us. Avoiding this bigger picture of who else is affected by a decision can, at best, only partially solve the problem, and may exacerbate it.
For example, if your spouse or child can’t d...
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11. There’s just one way to do this.
We’ve been conditioned out of listening to other voices, siloed in our information, environment, and social (media) circles. But getting outside your routines and patterns leads you to seeing things from unexplored perspectives and in a new light.
You may always have go...
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10. I can make a rational decision.
Psychologists far and wide, such as Amos Tversky and Daniel Kahneman, have demonstrated that as much as we’d like to believe it, none of us are rational. We all operate through a dirty windshield of bias based o...
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8. I can pull my ideas together well in my head.
Large decisions are made up of multiple smaller decisions. When we try to keep all of those moving parts in our mind, we end up relying on a faulty memory and a distracted mind. Keeping a record is an important part of thinking and analysis; both Albert Einstein and Leonardo da V...
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3. I just need to solve this problem at this moment.
This is the classic example of “losing the forest for the trees.” A narrow focus may solve the wrong problem, or only partially solve the problem. Don't give in to desperation.
If your car breaks down unexpectedly and you rush out to buy a new one, are you considering y...
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CURATED FROM
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Digital marketing at dentsu. Invested in the symbiosis of marketing, psychology, and design. Photographer at heart.
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