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What is a routine decision you have made today?

A decision is a choice

that affects a person’s

life.

Two Types:

Routine

Major

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© Take Charge Today – November 2014 – Making Wise Decisions – Slide 3Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

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Routine Decisions

Are made on a day-to-day basis

Don’t require a lot of time to think through

They can become a habit in daily life

For example, deciding…

• What to wear in the morning

• What to pack for lunch

• Where to sit on the school bus

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© Take Charge Today – November 2014 – Making Wise Decisions – Slide 4Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

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Major Decisions

Have long-term effects on a person’s

life

Should be made very carefully and with a

lot of thought

For example, deciding…

• What type of car to buy

• To attend college or not

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© Take Charge Today – November 2014 – Making Wise Decisions – Slide 5Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

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Your Decisions

On your paper write decisions you have made in the

past week

Are they routine or major?

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© Take Charge Today – November 2014 – Making Wise Decisions – Slide 6Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

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Financial Decisions

A type of major decision

Impacts an individual’s or family’s well-being

• Well-being is the state of being happy, healthy, and prosperous

For example…

• Saving for a family vacation

• Spending money wisely

• Purchasing new items

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© Take Charge Today – November 2014 – Making Wise Decisions – Slide 7Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

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Impulse Purchases

An impulse purchase is a purchase made on a

whim, without using a decision making process.

FYI: Retail and grocery stores place small, inexpensive items

near the checkout because they know they will buy them on

impulse.

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© Take Charge Today – November 2014 – Making Wise Decisions – Slide 8Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

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Decision-Making Process

D • Define the problem

E• Explore the options

C • Check Alternatives

I • Identify possible solutions

D • Decide and take action

E • Evaluate and revise

Guides individuals

to think through

all components of

making a good

decision

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Steps1. Define the

ProblemKnow the problem or

question before

searching for an answer2. Explore The

Options

Choices?

3. Check Alternatives.

Brainstorm pros and cons

for all of the possible

choices

4. Identify Possible SolutionsThe best option for you.

5. Decide & Take ActionMake the best Choice

6. Evaluate & ReviseReflect to improve future choices

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© Take Charge Today – November 2014 – Making Wise Decisions – Slide 10Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

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Opportunity Cost

The value of your next best alternative whenever you

make a choice.

Because different people value different things, your opportunity

costs may not be the same as a friend’s may be.

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Ryan’s grandparents gave him $150.00 for his

birthday, but he is having trouble deciding what to

do with it. There are so many options for him to

choose from. He can put his money into a savings

account, he can buy a new phone, or he can buy

his best friend a birthday present and go to the

movies.

Help Ryan make a wise choice?

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© Take Charge Today – November 2014 – Making Wise Decisions – Slide 12Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

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So Many Choices!

There are many different options to choose when

making a decision

Every option has a consequenceWhat

opportunity

costs did Ryan

give up with each

possible choice?

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Benefits of Good

Decision Making

Making better

choices results in

better use of time,

money and other

resources

When decision

making skills

improve, quality of

life is enhanced

Your present

choices impact

your future life

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