Section 1.2 Managing Your Personal Finances 19
3. Choose the best alternative. After considering all alternatives, decide which
one best fits your situation. It may be one alternative or some combination.
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rearrange your schedule, write a plan for the new routine. Follow it for a
few days to see how it works. You may need to make some adjustments.
If you decide to limit phone time, it may help to tell friends when you will
be taking calls and when you will not be available. Find reminders and
aids to help you stick to your new schedule.
4-Evaluate your solution or decision. Evaluation is an ongoing process. As you
carry out your plan, evaluate your progress toward your intended goal.
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process can help you stay on track and make better future decisions.
Managing Resources to Reach Goals
Whether you run a big corporation, an average household, or your own
personal affairs, you need management skills to get things done. Management
skills put you in control. You make the decisions. You carry them out. You
benefit from the right choices and occasionally suffer from the mistakes.
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management involves more than making decisions and solving problems.
This three-part process includes planning, action, and evaluation.
Planning
“A job well planned is a job half done.” This familiar saying points out
the importance of planning. Whether you want to reach a career goal or find
a summer job, you need a plan. This applies to almost anything you want to
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conscious planning. Choosing what to wear to a wedding or a job interview
takes more thought. Building an appropriate wardrobe for your lifestyle can
be a major planning challenge.
The planning phase of management involves identifying goals, obstacles,
and resources. Consider these questions:
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the obstacles and resources related to it. Try putting together a similar plan
for achieving something you want, such as a summer job, a racing bike, or a
part in a school play.
Action
Planning is of little value without action. Action involves putting your
resources to work to overcome the obstacles that stand between you and your
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FYI
Systematic decision-
making is a skill that can
help you solve many
challenges that you may
encounter.