Before making a high cost ($$) decision, do you first imagine your life after that decision?
Sometimes it's difficult to think about how you will feel after making a high monetary cost decision, until you've paid out the money. When I was younger I did not think about it too much, now as an adult, I have more life experience to better predict what might happen or how I would feel.
The highest cost decision most people make, as far as I can deduce, if to take on a mortgage to buy a home. Generally it entails borrowing money from a bank or financial institution and is a committment which can profoundly alter one's view of the world from the point of view of risk versus security. The risk being, 'What if I can't manage the repayments and the bank repossess?" The security being: 'One day I (or we) will own it and most of our financial worries will be behind us.'
The imagination part of it plays a big part. You think of the home you might own (if you borrow) and what you can do in the years ahead. Alterations, renovations, additions - pride of ownership. Or, the ongoing worries of maintenance, upkeep, inspections et cetera. The imaginings will be a combination of positive and negative.
Or you could decide not to make that big investment, not take that big step. In that case the status quo will remain. But there'll always be this niggling feeling of 'Why didn't I?"
Only you can decide what to do with you life. You're in charge of it, no one else.
I don't know your circumstances, but it seems you are the wiser - you say so in the supplementary information after your question. If you do have another big decision coming up, I can only wish you well - and I do so.
Of course. How can you make a decision and not think about life after that decision? What will the impact be? How much would we have in the budget? When considering a major purpose, I create a new budget and show all of our finances to my husband. We discuss how it would influence us and then decide together.
I wanted to go further to say that sometimes I can't fathom the full scrope of the results / consequences of my actions with a high cost decision until after I go through with it
Then you need to ask yourself more questions before making a big financial decision. Try writing down a bunch of questions on a piece of paper tat you can always look at before making a big purchase, or even a small one.
Yes, I always imagine what the consequences (good or bad) will be. I pity the one who exercises no self-control over his spending.
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