Weighing the Costs

Weighing the Costs

There's so much debates and argument whether everyone should go down into the nitty-gritty of weighing the COSTs versus BENEFITs before making a decision.  Some would argue why turn simple situations into complex ones ?  A cost-benefit analysis is the process of comparing the projected or estimated costs and benefits [or opportunities] associated with a decision to determine whether it makes sense from a person's perspective.

Bottom-line is, every decision that needs to be made must be an INFORMED DECISION.  Otherwise, any decision not referencing relevant information will not be an INFORMED DECISION. What happens then if we do not end up with an INFORMED DECISION ?  The likely outcomes and consequences are as follows:  The decision you made is either NOT the best decision you could have made or worse, you could have made a wrong decision.  To UNDO or not is another discussion.

If you have ever made a big personal purchase, chances are you conducted an informal cost-benefit analysis.  Whether you're committing to a personal purchase, making a decision or assessing an option, you will likely use some sort of analysis to weigh the estimated costs and benefits of your choice.  Cost-benefit analysis is a key way to determine the value of a decision. 

UNDERSTANDING the VALUE of an upcoming decision should always be a top of the totem pole.  Always remember in weighing values, there's FINANCIAL values, EMOTIONAL value, SOCIAL value, INTELLECTUAL value, you name it.  You need to consider all of them.  Whatever it takes, always WEIGHT the COSTS before you reach for a decision❗❗❗