<iframe src="//www.googletagmanager.com/ns.html?id=GTM-WD448V" height="0" width="0" style="display:none;visibility:hidden">

The Life Insurance Blog

Helping millions of Americans become educated
in making decisions about their life insurance needs

                                                    

How to Make the Right Decisions

Jan 8, 2017 8:17:00 PM

decisions-747171-edited.pngDo you have difficulty making decisions? For many people, having to choose between even two simple alternatives is a stressful proposition, and life-changing decisions can be downright debilitating. If you'd rather not just throw caution to the wind and flip a coin when it comes to where you live, work, or who you spend your time with, some effective decision-making skills might be useful. Here are five exercises that can help you work through decisions, big and small so that you can come to better conclusions with less overall stress.

1. Identify Your Goals

It's difficult to make sound decisions if you don't have clear goals. In fact, people who aren't able to sit down and reflect on what they want are more likely to make bad decisions. If you want to avoid a series of bad, and potentially costly choices, sit down and list out your goals. The decisions that will help you achieve those goals will become more apparent.

2. Take Yourself Out of the Equation

Have you ever noticed how much easier it is to make decisions for someone else than it is for yourself? That's because when we make our own choices, emotion clouds our judgment and this is a powerful catalyst. If you can, pretend that the decision you have to make is for a friend instead of for yourself. Take yourself, and the associated emotions out of the equation to get a clearer mental picture of the situation.

3. Try Not to Rush

If you're feeling rushed into a decision, it might be time to step back and take a breather. Hasty decisions are often made based on emotion, and these are choices that you could later regret. The best decisions have some thought and a bit of research to back them up. If you're still not sure, sleep on it or talk it over with a friend.

4. Beware of Information Overload

We just mentioned having information to back up your decisions, but there is such a thing as information overload that can stifle your choices. Yes, it's important that you do your due diligence but, at some point, you need to stop digging and make a choice. Psychology Today discusses this in the context of people who have difficulty making a decision, where the insistence on finding every last scrap of data can actually be debilitating.
Making decisions 5. Challenge Your Assumptions

We all have certain biases and assumptions that can influence our decisions. Most of the time, we aren't aware that our "need to win" causes us to drive a hard bargain, sometimes with a negative result. Take a moment to consider what assumptions you have that might be clouding your judgment. Better yet, ask someone else to give you their fresh perspective as they aren't likely to share your assumptions.

Making decisions isn't a simple matter for everyone. Practice makes perfect, so begin building confidence with your decisions by using these 5 steps on small choices and then testing them out on your life's bigger opportunities.

One area that many families struggle with is making decisions on financial matters. For example, making the decision to purchase a life insurance policy can be one of the best choices that you make to protect your family's financial future. If you are looking for more information, IntelliQuote has many resources to help you start your research.

Knowledge is power. The more you know, the easier it is to make an intelligent choice. Everyday life, as well as certain events and circumstances, require you to make choices. And peace of mind is gained when you feel good about the decisions you make.

When it comes to life insurance, IntelliQuote is there for you to make the intelligent, well-informed choice. From term life insurance to universal life insurance and final expense insurance, we make it easy for you to compare, shop and save. Get multiple quotes now and make the intelligent decision for Life.

 

Topics: Financial Future, News & Events, Trends