Updated: Mar 29
Making Good Decisions: Separating Your Future From Your Past
“And the best way to predict your future, is to create it.” – Abraham Lincoln
Are you happy, satisfied, fulfilled with where you are in life right now? Do you feel like you are living life abundantly, or are you living in a state of scarcity? Are you thriving or flourishing, or are you languishing, or worse suffering?
No matter how you answered those questions, you need to know that you are a product of the choices you have made. For some of us, that hurts. If I am not flourishing, and I am living with a scarcity mindset, knowing my choices in life have landed me here is painful. But, I have good news! You can make a decision to change. You can make better decisions and move toward flourishing and abundance.
It won’t be easy, but it can be done. Here’s how:
First, evaluate what you are not satisfied with.
For many people it is their financial situation, so I will use that example, although you will find this process works in every area.
Second, decide what is important to you. What do you value most in your financial situation?
Whatever it is, set a goal to meet sometime in the near future. For instance, I want to retire without debt by January 2040.
Third, determine the impact of reaching or not reaching that goal, not just on you but on the important people in your life.
Continuing, determine the tradeoffs you will need to make to reach your goal. This might be things like not taking expensive vacations or buying new cars. It could also mean some simple things like eating dinners at home more often rather than eating out at restaurants so often.
Next, determine the consequences of each decision you make as part of the process. Every money decision you make – to spend or not to spend – impacts your ability to reach your goal; in other words, Needs, not wants.
Then, make the best decision based on all the criteria above. A decision that moves you closer to your goal, while positively impacting the important people in your life, especially in the long term, is the best decision.
One final point to understand. Your beliefs – about money, health, relationships, community – shape your behaviors, which drive your decisions and lead to your results.