Draw a large "T" shape to create two columns: one for pros and one for cons. List the positive reasons for making the life decision in one column. Write the potential negative outcomes of making the decision in the other column.Continue Reading
When listing the pros and cons, list anything that comes to mind. It doesn't have to be just the major effects of making the decision. Several small cons might outweigh one large pro. Give yourself time to think of additional pros and cons.
Once the list is done, you can get a visual on whether there are more pros or cons about the decision. In some cases, one may clearly outweigh the other. In many other cases, the lists have a similar number of items.
Assigning a weight or point value to each pro and con helps make a close decision. Some outcomes have a bigger impact than others and should weigh heavier in the decision-making process.
The point values are subjective in nature, but they help you identify what is most important to you. Write a number between 1 and 10 beside each item on the pros and cons lists. A 1 means the item has little weight, while a 10 means the item is a major factor. Use the points to determine if the decision is overall positive or negative.Learn more about Financial Planning