Segregating knowledge in our lives seems pretty natural. We don’t consistently apply great tools we have in business to our home life. Last night I tried something new at home.
My husband’s Jeep broke down this week. It is a 1996 and has over 200,000 miles. Breaking down isn’t an unusal thing at this point. My husband’s job is 30 miles across town and therefore a reliable car is a must!
Money handling seems to be a sticking point in most marriages and ours is no different. We have very different approaches to money and how to resolve issues. I knew the Jeep situation could lead to an unproductive argument. I was determined to break the cycle by taking the emotion out of it. How did I do that?
1. Brainstorming – first, we listed out every possible option, without placing judgment on the ideas. We listed them out, no matter how likely it was
to actually implement.
2. Decision-tree – Next, we built a decision tree which laid out all the options we were going to consider.
3. Quantified all the decisions – After building the decision tree, we took each solution and quantified what the costs and benefits in quantifiable terms
|Overhaul – At Shop||200,000||5,000|
|Overhaul – Self||200,000||2,300 (3 months)|
|Minimum Repair – At Shop||6,000||2,400|
|Minimum Repair – Self||6,000||900|
|$2800 Loan ($5500 purchase)||100,000||5,900|
|Car for cash||30,000 – 100,000||2700|
The ability to look at issues logically and critically while suspending emotion allows us to gain insights and see the bigger picture.