Decisions, Decisions, Decide!

How to make better decisions for yourself

Define

The first step in the Decision Making Model is to define the dicision. For example-I got $100 for christmas and I really want to buy a new dress. But, I also want to save my money for a house for when I grow up. But, I am having trouble deciding what I should do with my money.

Estimate

The second step in the Decision Making Model is to estimate your resources. You need to list the resources you have aviable. For example- The resources that I have aviable are $100, prices, knowledge, sizes, etc.

Consider

The third step of the Decision Making Model is to consider the alternatives. For example-If I get a dress, I will be able to wear it to important or fancy places. I will also get to brag to my friends about how cute my new dress is. But if I save up money for a house, I will have a better place to live, I could have the money that I would need to pay off taxes and pay for gas, I would also have a better future for my family and I.

Information

The fourth step of the Decision Making Model is to gather information. For example-The dress that I want is $75 plus tax. I really like the dress but it's just so much money! I tried on the dress and the tag doesn't scratch my neck, it itsn't to loose, and it isn't to tight. But as for saving up money for a house, I will have the money I need to have a happy future. Plus, it's free to save up for a house.

Decide

The fith step of the Decision Making Model is to decide what you want to do with your money. For example-I am going to save up for a house instead of buying a $75 dress.

Evaluate

The last step of the Decision Making Model is to evaluat your decision. Explain why you chose this decision of what to do with your money. For example-I chose to save my money because I would be saving money for a house later in life and because I can always wait for that dress to go on clearence, or wait until I get a coupon for the dress.
*Thank you for your time*