The views expressed in Economy Matters are not necessarily those of the Federal Reserve Bank of Atlanta or the Federal Reserve System.
Editor's note: Throughout Economy Matters, "Southeast" refers to the six states that, in whole or in part, make up the Sixth Federal Reserve District: Alabama, Florida, Georgia, Louisiana, Mississippi, and Tennessee.
Financial Tips from the Atlanta Fed: Decision Making
As the holiday season approaches, you will face a number of decisions. What dishes should you prepare for the Thanksgiving get-together? What's the perfect gift for a holiday celebration? How will you adjust your budget for holiday shopping? These tips can help with your decision-making process now and throughout the year.
- The PACED decision-making model is used to define a problem, list alternatives, state criteria, evaluate alternatives according to your stated criteria, and make a decision.
- Having a plan can help in making decisions and reaching your goals.
- Making major financial decisions such as how to pay for college, whether to buy or rent a home, or how much to save for retirement can be made more manageable with easy-to-use, reliable tools.