Why is it so hard to make good financial decisions, yet so easy to make bad decisions? In this video, I explain why and how to change it.


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Chapters

00:00 Start Here
01:13 Step 1: Stop Viewing Your Future Self As A Stranger
02:53 Step 2: Start Viewing Your Future Self Like Your Child
04:01 Step 3: Hold Yourself Responsible For Your Future Self
05:32 Step 4: Consciously Be Aware Of Who Your Decisions Are Impacting
07:12 Step 5: Don’t Lives In Extremes
08:02 Step 6: Imagine Being In Your Future Self’s Shoes


Many people struggle with making good financial decisions and end up putting their future self in a bad spot. The reason it's so hard to make good decisions with money is because we prioritize the present over the future. In this video, I explain how we can change our view on the future in order to make better financial decisions.

Step 1: Stop Viewing Your Future Self As A Stranger

The reason it is hard to make good decisions in life is because we view our future self as a stranger and have trouble comprehending that when we are making decisions like saving money or setting aside money for retirement, we are the one who is receiving the reward. In order to make better decisions with money, the first step you must take is to stop viewing your future self as a stranger.

Step 2: Start Viewing Your Future Self Like Your Child

Instead of viewing your future self as a stranger, you should start viewing them as your child that you are responsible for taking care of. When you view your future self as a child, you are more likely to want to take care of then.

Step 3: Hold Yourself Responsible For Your Future Self

Once you start viewing your future self as your child, the next thing you need to do is to hold yourself responsible for your future self. Make financial decisions that don't end up causing you harm in the future.

Step 4: Consciously Be Aware Of Who Your Decisions Are Impacting

Next, whenever you make financial decisions, be aware of who they are impacting whether that is your present or future self and whether the impact is positive, negative, or neutral. Make sure that all of your decisions are just benefiting your present day self.

Step 5: Don’t Lives In Extremes

Although it is important to make decisions that positively impact your future self, it is also important to make sure you don't only make good decisions for your future self and deprive your present day self. Life is about having a balance and not living in extremes.

Step 6: Imagine Being In Your Future Self’s Shoes

Finally, whenever you make a financial decision in life, it helps to imagine how your future self would respond to the decisions you are making.

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