Don’t Let Decision Fatigue Halt Your Financial Progress

Written By: Michelle Smalenberger, CFP ®

What is it you need to do before you get your personal finances in order?  Recently I came across this article in which the author talks about the amount of energy it takes to make a decision.  He goes on to point out numerous examples to demonstrate this point even sharing how many influential people wear the same thing every day so they don’t spend their energy on decisions they feel are non-important.

Why Successful Individuals Wear The Same Outfit Daily

Now stop and think about the things you make decisions for throughout the day.  How much energy do you have available to make decisions about your finances after a long day of work or getting your family fed and off to school every day?

In order to get your finances in order, there are a lot of other decisions that you will have to make.  It’s not just about saving money and investing it.  You may need to consider some of the following:

• Who do you want to be your beneficiaries?
• Who should be your executor or trustee?
• How much life insurance is adequate to you?
• When do you want to retire?
• What does retirement look like?
• Do you want to save for your children’s education?

Maybe you keep telling yourself that you want to have everything in order before you meet with a financial advisor.  However, this is exactly the type of thing a financial advisor can help you do.

So make one decision to add a financial advisor to your team who can walk you through the many decisions to follow and you can make progress faster.

Don’t let decision fatigue halt your financial progress!