How to Make Good Financial Decisions
Hi, I’m Saundra Davis, financial coach here at SaverLife. Today we’re going to talk about how we make good financial decisions.
There is no shortage of information online and, frankly, even from family and friends. How do we know that what worked for them will work for you?
Check the source
The question becomes: How do you know when the advice that you’re getting is from a trusted source who is knowledgeable and always looking out for your best interest? Not always an easy task, and it’s up to you to do your due-diligence. Your source is important.
So, when you have a financial question, what are some of the things you can do? Well certainly, we always provide trusted resources for you here at SaverLife. But the bottom line is the decisions are yours to make. We don’t give you advice, but we certainly give you the information that you need to make a decision for yourself.
What are your options?
When you’re looking at what your financial question is, first determine what are all of your options. Don’t be too hasty to come to one decision. Identify all of the things that are possible, and then what’s going to be best for you. It might not always work when you see it the first time.
For instance, you might try a budget that doesn’t work for you the first time. That’s okay. There are several different ways to make a financial plan work for you. The key is the decision is always yours, so you have to consider all of the things that get in the way, and all of the things that help you live the financial life that you want.
Try it out, and try again
So whatever the topic, first gather your information. Then determine what’s the best choice for your situation. Try it. See what happens. If it doesn’t work, you get to try something different.
Remember, you are on a journey to become your own financial expert. Only you know your right answer. It’s great to get advice, great to get input from other people, but the final decision is yours. Just remember, keep on saving.
What are you saving for?
Saundra Davis is a nationally recognized financial coach and educator. Her experience in the U.S. Navy, where she made every money mistake possible, and her 20 years serving community-based organizations led her to the reality that the best way to help people find a path out of poverty is to help them become their own financial expert.