Do your mates often tell you to ‘stop overthinking things’? Do you take an absolute age to make a decision about small things like what sandwich to get with your Meal Deal? Or do you sometimes just decide to not make a decision (though... that's also still a decision by the way) because you’re too scared of the outcome?
Then maybe you’re a financial thinker. The good news here is that you’re so meticulous that you don’t often make mistakes relating to money. You sit for hours chewing over each tiny detail to create the best strategy for making and saving money. But there are some major downsides to this personality trait.
Often you fixate so much on all of the tiny details that you stop being able to see the bigger picture. And if you can’t see it, you’ll miss the potential ways that your strategy could go wrong and forget why you even decided to create your strategy in the first place.
But the worst thing about being a financial thinker is that you often encounter what psychologists call ‘analysis paralysis’. This is where you become so afraid to make a decision that you become unable to make one at all. It could be fear of making a mistake, fear of making the wrong decision all together or a fear of uncertainty. With analysis paralysis, it can make you too afraid to take any risks or it can push you to make a rash decision in order to overcome the analysis paralysis.
You need a solution in which you can know all of the details and outcomes and feel safe enough to commit to your decisions - right? With Loot you can budget your money and with the real time transactions list you can keep track of your spending. This way, you can control your money, be sure that you’re managing it efficiently but also give yourself the freedom to not overthink your financial decisions. Download the app here or for information, check out our guides to the app features here.
Not a thinker? Maybe you're a...