4.4 • 1.9K Ratings
🗓️ 6 July 2015
⏱️ 9 minutes
🧾️ Download transcript
I used to think that everyone knew how to make decisions. Since starting Radical Personal Finance I've come to learn that some people don't have a clear decision-making framework.
Today, I share with you a dirt-simple framework of costs vs. benefits, plusses and minusses. In sales, it's called the Ben Franklin close.
Use it.
Write it down.
Joshua
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0:00.0 | Welcome to the Radical Personal Finance Podcast. |
0:03.0 | My name is Joshua Sheets and I'm your host. |
0:05.0 | Quick coaching call version of the show today. |
0:08.0 | I'll be back soon with the regular format of the show. |
0:11.0 | I want to talk with you about making decisions and clarifying |
0:16.0 | costs. This is just a simple thing that I've noticed, very straightforward. But I've |
0:21.8 | recognized that many people don't have a framework for making decisions, or at |
0:26.7 | least they don't specifically isolate. They don't have a specific process that they could clearly say, |
0:33.0 | here's my process, my framework for making decisions. |
0:36.6 | I want to give you a tool that is going to sound |
0:38.8 | incredibly basic to some, but incredibly useful to others of you. |
0:42.2 | I receive a lot of questions here on the show, |
0:43.9 | Joshua, should I do this, what would be the option here, what would be the, you know, |
0:49.3 | should I make this financial decision, should I do this thing here and I often look at the |
0:53.4 | questions and I think but this is so simple but obviously it's not simple to the |
0:58.5 | person asking the question otherwise well unless they're just interested in my viewpoint, which is probable to some of them, but it's not simple to them because they haven't put it down. |
1:09.0 | And sometimes I respond back with an email and say, well, what about this information, this information? |
1:14.0 | But it's very simple about just simply weigh the pros and cons and make a list of all the |
1:17.4 | reasons to make a change and all the reasons to not make a change and clarify the |
1:21.5 | costs and clarify the costs and |
1:22.5 | clarify the benefits. |
1:23.7 | But the key is, write it down. |
... |
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