Suzy Welch, in her new book of the same name, calls 10-10-10 “a life-transforming idea” …
… I don’t know about ‘life-transforming’ but, it’s definitely a simple-yet-powerful decision-making process.
I call it 10-10-10.
Here’s how it works. Every time I find myself in a situation where there appears to be no solution that will make everyone happy, I ask myself three questions:
What are the consequences of my decision in 10 minutes?
In 10 months?
And in 10 years?
The answers usually tell me what I need to know not only to make the most reasoned move but to explain my choice to the family members, friends, or coworkers who will feel its impact.
I can definitely see how these questions could apply to personal finance: before you make your next major financial decision, take some time out to ask yourself how that decision to [insert financial decision of choice: buy, sell, finance, change, etc.] could affect your life in 10 minutes / 10 months / 10 years.
Chances are that you will change your mind 🙂
Tomorrow, I’ll show you an even more powerful idea that will go hand-in-hand with 10-10-10 to “totally transform” your personal spending habits …
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This “10-10-10” is great advice!! Not only for financial decisions, but also dietary ones. What’s the effect if I choose NOT to eat this piece of birthday cake at this moment, in 10 minutes? in 10 months? in 10 years? Not much negative effect! What’s the effect if I choose to exercise for 10 minutes today – in 10 minutes? in 10 months? in 10 years? One bite at a time, you’re stepping toward your true goals….Love how she simplified it into something easy to remember!!
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