Archive for June, 2015

How to make better financial decisions

Written by multiforte on . Posted in News

We are both keen sailors and enjoy racing – particularly when the wind is up and our little boat scoots across the Harbour. Our less favourite times are those when there is little or no apparent wind and the sailing skill is different and demanding.

That’s because, even the most talented of sailors can get stuck in a patch of no wind. All you want to do is get moving. Your instinct is to work the sails, to force it. Yet forcing it is one of the worst things you can do.

We don’t need force. We could be moments away from a breath of breeze. If we’re smart, we will keep an eye on the distant signs of approaching wind, set the sails, shift our weight to leeward and wait. The wind will come.

The same approach applies to making financial decisions. There are times when decision-making is swift and clear. However, there are also times when clarity on the best decision is as absent as the breeze. It feels so frustrating, and most want to push forward with a decision just to get the issue resolved. Yet this is dangerous. When you feel like you have to force a decision it probably means that you haven’t found the best option – yet.

Just like for our boat with no breeze, you need to take a different tack.

Here are some valuable ideas to help you make better financial decisions.