💸 How to Make Financially Tough Decisions

In Business and Life in general, we are all faced with moments when we must make financially difficult decisions. Whether it’s cutting cost, investing in a new venture, investing in our educations or reevaluating priorities.  It’s all tough.

These decisions often come with feelings of uncertainty, stress, and fear. Tough decisions require clarity, strategy and courage.


There are several steps “I believe” which can help!

  • Begin with a clear understanding of your financial situation.
    • Before decisions can be made which cost money, having a clear understanding of your current financial situation is crucial. Review your income, expenses, debts and savings. Uncovering patterns and identifying areas which can be adjusted, is just as important as the numbers.

TIP: There are many financial tools, Mentors, and/or Financial advisors who you can consult with to get an accurate picture of your cash flow.


  • Define your priorities.
    • When finances are limited, focus on what matters the most. Is it essential expenses like payroll or inventory? Or , is it non-critical items like discretionary spending?
    • Ask yourself these questions –
      • If I spend this money, what will the significant long-term impact be on my financial health?
      • If I spend this money, will it align with my values and goals?
    • Define your priorities. It will help make it easier to eliminate unnecessary costs.

TIP: Is spending monies at Starbucks, cigarettes or other discretionary items going to help you get to your goals?


  • Evaluate the Long-Term Implications.
    • Short term sacrifices often pave the way for long term stability.
    • Will “this” financial decision help me sustain or grow my Business/Personal finances?
    • Are there risk which I haven’t thought of?

TIP: Balancing short-term challenges (like eliminating Starbucks) might allow you to take a class or attend a trade show.


  • Focus on solutions, not just problems.
    • Financial stress can cloud our judgement and lead to what I like to call “reactive” decisions. Force yourself to jump out of the box of problems and focus on creative, potential solutions.

TIP: A problem solving mindset turns challenges into opportunities for growth.


  • Accept and Move Forward.
    • Once a decision is made…give yourself permission to move forward without dwelling on the what-ifs.
    • Financial decisions, especially difficult ones, often come with trade-offs.
    • It is natural to second guess yourself however, remember decisions are made with the information you have at that time.

Final thoughts; Making financially tough decisions is never easy. It is however, a critical part of achieving stability and growth.

Take a thoughtful, strategic approach. This can help you minimize risks and build confidence in yourself to navigate challenges.

Remember also…every decision easy or tough, is an opportunity to learn and grow. Approach all decisions with clarity, humility and resilience.

Have you made a tough decision lately? Share with us or email CJ on how you navigated down the path you took and what strategies helped you. Your story might inspire others!


CJ Murray, President

2 thoughts on “💸 How to Make Financially Tough Decisions”

  1. I concur whole heartedly. What helps me is setting my budget for the year & breaking it down per quarter. Although some people save cash from tips, I make sure I pay off cards because they offer points to convert for cash, gift cards, or airline travel. Also, I do a financial fast were I don’t buy anything for a week or 2 to get me back to my goals.

    Also, do automatic savings so that you build emergency funds, retirement accounts, or pay down debt. If you do it automatically, you won’t miss it.

    Hope this helps someone ❤️

    1. Nisha, thank you and what great ideas. I especially love the “financial fast”. It is a mindset and very difficult to put into action. Yet, all good things are typically difficult at first. It’s when we begin to see results when it becomes easier. Good for you and again, thank you for sharing.

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