Decision-Making Checklist for INDIVIDUALS

Measurement of Success (MOS): I am making informed and objective decisions that will maximize my financial life.
1. D  efine the decision, when it needs to be made, and whom it affects. •  In one sentence, describe the decision that must be made.

• What date must the decision be made by? • Who will be affected by the decision?

2. Identify your Money Mind and how it will bias your decision making. •  What is your Money Mind? If you’re not sure, play the “What Is Your Money Mind?” online game at MyMoneyCode.com. •  Describe how it will bias your decision making. (Ensure that you minimize the negative aspects of your Money Mind.)

3. Quantify the costs, both real and intangible, of your decision. •  Outline all the measurable costs. Remember to consider the costs to all affected parties.

•  Define the intangible costs. Remember to consider the costs to all affected parties.

THE MONEY CODE | © JOE JOHN DURAN | Decision-Making Checklist for INDIVIDUALS | 1

What can you do to reduce the cost of the decision? • List ways you can increase your resources. both real and intangible. of your decision. Make  appropriate adjustments to your decision or determine the tradeoffs you’d need to make in order to move forward. In other words. •  Assess the probability of the benefits occurring and place a percentage by each. •  Identify the tradeoffs you’d have to make. continue to item 6. Remember to consider the benefits to all affected parties. Yes  or no. both real and intangible.4. •  Create a bullet-point list of all the known benefits. is it prudent to go ahead (remember to adjust for your Money Mind’s perspective)? THE MONEY CODE | © JOE JOHN DURAN | Decision-Making Checklist for INDIVIDUALS | 2 . 5. what would you have to give up in order to support your decision? 7.  Quantify the benefits.” skip to item 7. Remember to consider the benefits to all affected parties. • If your answer is no or you’re not sure. do you have the assets and the current resources to make the decision? •  If your answer is “Yes. •  Amend the decision. 6. I have the assets and current resources to make the decision.  Yes or no.

THE MONEY CODE | © JOE JOHN DURAN | Decision-Making Checklist for INDIVIDUALS | 3 . 9. Confirm that you’ve accomplished your MOS.8. Create a bullet-point list of steps to take.

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