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Reason Driven Decisions

Key Takeaways

  • Sometimes our emotions get the best of us when we’re making important decisions in life.
  • When faced with emotionally driven decisions, a process of elimination is preferable to a process of selection.
  • Keeping logic and principles in place as you make your decisions will serve you well.

Live long and prosper. For the non-Star Trek fans, that’s something you’d hear from Spock, a very reasoned individual whose character was all logic and no emotion. Very few of us in life are like Spock, though this aspect of his personality might come in handy when we’re making important decisions.

In particular, many emotionally driven decisions are better handled by a process of elimination than by a process of selection. What does this mean? Well, let’s take decisions about real estate for example.

When purchasing a home, it’s not uncommon to walk into one and fall in love with it. Your emotions take over, telling you that you just HAVE to have the house and, before you know it, you find yourself picturing living there. Oftentimes, though, that seemingly perfect house is actually the wrong house, for many reasons. Emotions tend to obscure the red flags.

This is where the process of elimination can help you. Start off by creating a select list of what you know you want in a home. Be logical about it – what are the deal breakers and the must haves? Then, as you look at houses, consult your list. Once you get to three or four that don’t match, walk away. By using the process of elimination, you’ll end up in the home that’s right for you.

Now, this requires a bit of thinking beforehand to come up with that list of principles. It’s different for everybody, and if you’re purchasing the home with someone else, your lists might even differ between the two of you. You may want a certain type of yard, a specific amount of square footage, proximity to schools or restaurants, and you’ll likely have a budget in mind. Go through your lists and decide what you can and can’t be flexible on, and agree to walk away when a home fails to meet most of your criteria.

So while you can’t eliminate the emotional part of the decision-making process, this process elimination will help keep you within reason. The next time you’re making a highly emotional decision, keep this in mind, and help yourself make good decisions, especially around money.

For more on how the process of elimination can help, here is a link to the Observer What Just Happened? And Why Coming To Grips With It Changed Everything.

Until next time, enjoy.

Gary


 

Gary Klaben serves as a Financial Advisor, and visionary for Coyle Financial Counsel. He has over 30 years of experience and is the author of Changing the Conversation, Wealth of Everything and co-author of The Business BattlefieldWhether advising his clients, mentoring his team, or coaching entrepreneurs, he is always simplifying complexity and motivating others to take the next action that’s right for them.

Learn more about The Coyle Process, approach designed to get your arms around the big picture, so you can make informed financial decisions. Ask Gary about The Coyle Process and schedule a complimentary consultation and start living the Good Life Managed Well™.

www.coylefinancial.com
847-441-5644 | coyle@coylefinancial.com

 We value your comments and opinions, but due to regulatory restrictions, we cannot accept comments directly onto our blog.  We welcome your comments via e-mail and look forward to hearing from you.

All information is from sources deemed reliable, but no warranty is made to its accuracy or completeness.   This material is being provided for informational or educational purposes only, and does not take into account the investment objectives or financial situation of any client or prospective client.  The information is not intended as investment advice, and is not a recommendation to buy, sell, or invest in any particular investment or market segment.  Those seeking information regarding their particular investment needs should contact a financial professional.  Coyle, our employees, or our clients, may or may not be invested in any individual securities or market segments discussed in this material.  The opinions expressed were current as of the date of posting but are subject to change without notice due to market, political, or economic conditions. All investments involve risk, including loss of principal.  Past performance is not a guarantee of future results.

Copyright © 2021 Coyle Financial Counsel.  All rights reserved.

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