Canadian Personal Finance Blog

… donkey (or Ass take your choice).

This is more of a life statement than just a financial planning or personal finance concept, but this time of year it is an imperative concept to remember.  If your decision is rushed, and not thought out in any way, you are likely to find that it will lead to a sub-optimal result (i.e. you are going to regret it).

Deciding you have not bought enough “things” for your loved ones three days before Christmas and going on a spending spree to compensate on it, will cause you a few minutes of relief and many sleepless nights from the stress afterwards from the extra debt load.

I have fallen victim to hasty decisions that have had long-term pain due to a lack of information on my part when making the decision (e.g. buying a car I was told wouldn’t be available unless I acted quickly), if you don’t have enough information or feel you are deciding with your “gut”, wait for your brain to catch up, or your “gut” is going to ache afterwards.

Yes, there are times when quick decisions have paid off, but not deciding (i.e. not acting) still might have been the correct decision in the first place, in a lot of these situations.

Christmas is a time of celebration, family and sharing, not spending and debt, keep that one in mind.