#FINANCIAL DECISIONS PRO#

Tough decisions are easier to weigh when you know your financial goals and have an understanding of just how youвЂ™re tracking against them, says Amy Richardson, CFP with Schwab Intelligent Portfolios Premium. вЂњAs an example, if youвЂ™re struggling to decide between aggressively paying off debt, and investing your extra money, you could start by comparing the interest rate on your debt with expected returns of the market over the long-term.вЂќ Establish A Goals-Driven Plan вЂњSometimes putting numbers behind each alternative allows you to assess a clear winner and loser objectively,вЂќ he says.

#FINANCIAL DECISIONS PRO#

For each alternative youвЂ™ve got, make a data-supported pro and con list.

But before you get anxious, take a step back and make some lists, suggests Brian Walsh, a certified financial planner at SoFi. In some cases, youвЂ™ll have way too many choices to sort through, which can add to your feelings of overwhelm. Whenever there are important choices to be made, chances are, you have a few options.

So, roll up your sleeves, pour yourself a glass of wine, cue up your accounts, and dig in with us. So, with all these emotional + complex decisions swirling, itвЂ™s essential that we have a solid strategy for approaching them. All of these not only tug on our heartstrings, they tend to be expensive, too. Some of the biggest purchases most people make in their lifetimes include purchasing a home, taking out student loans, starting a business, going through a divorce, or having children. Unfortunately, the greater the risk, the more difficult it can be for us to make a financial decision. But others will carry a much heavier price tag - and the weight of a lot of responsibility. Some daily decisions wonвЂ™t be significant - like whether or not to opt for that new fall sweater youвЂ™ve been debating. Throughout your life, youвЂ™ll make plenty of choices about money.

Financial decisions