Money worries a lot of people. Advanced people on various BBC programs have been informed that they are always anxious when making financial decisions. They have a lot of questions. When the bank interest is low, ask yourself what to do with the savings.
Is this the best time to buy a place to stay? The price of debt has dropped, but so has the price of housing? Should we trust investments that promise a return on investment?
A study by Empirical Psychology at Lund College University also confirmed this view in a new study.
Their findings show that the issues listed below are what make it difficult for people to make decisions.
– Buying a home
– Changing a job – How to save
money – Choosing a way
to save like buying a house or a car
– Choosing a life partner or getting married
Why are financial decisions so difficult?
The project analyst Joseph Mark believes that this hardship is related to three factors:
“might think that few options more options are better, but research says, a selection of inner conflict, anxiety or fear as a result of
Makes no decision. Because in most choices people can’t analyze and analyze.
Complexity: Choices are evaluated in financial decisions and we need to know the full depth of each option. This is not easy even for people who have studied economics, let alone ordinary people.
Discouragement: Big economic decisions do not have rules and a clear process, risk and lack of decisive or decisive decisions and for this reason it is not easy to predict what the outcome will be. The unpredictability of the consequences of this decision causes people not to make such decisions. We are worried that our decisions will be crude, we may waste our savings and have nothing but regrets.
What can be done to facilitate financial decisions?
Identifying what factors make these decisions difficult and simplifying those decisions is another matter.
Joseph Mark has these five key points about financial decision making.
Decide When You’re Tired Don’t make decisions about financial matters, wait a little longer to find time to think.
In case of mental fatigue an immediate decision may be made as it is better to postpone the decision till tomorrow or weekend. Stay away from important work or sports programs. If you have an important decision ahead of you but you are lacking in energy, rest for 5 to 6 minutes. This will repair your brain.
Identify your body clock The
key to making the best decisions is to identify your body clock. Find out if you are most active during the day or at night.
“Birthday” people are more capable of understanding during the day, but “night birth” people are more capable of understanding at night, because try to make important decisions in the hours in which you are on your own.
Look for a few reasons to satisfy yourself The
decision is even harder for those who think too much. These people are always worried about whether they will make the right decision or not. If you look for reasons that are at least as essential to your satisfaction, you can reduce your fear of making a decision. Even if all roads are closed you can find someone to decide on your behalf. If this decision requires specific knowledge you should refer it to a professional to reduce your misconceptions about the decision and assure you that the situation is under control.
Everything will be easier
The good news is that decisions are made easier with age and experience than anything else.
This phenomenon is also due to the knowledge and experience that comes to man over the years.
As you grow older your positive feelings for long-term decisions remain and your mind becomes less involved with you about the possible consequences of those decisions.