Friday, June 5, 2009

It's all in the Spin!

Life and our outlook on it, is sometimes dependent on how we Spin the situation.
It's the "Half glass full vs. Half glass empty" theory. But it is true, we can apply it to any situation.

For example, with mortgage rates increasing over the last couple of weeks there are two recurring thoughts:

  1. "I can't believe rates have increased to the mid 5% range. That is outrageous."
  2. "Rates have increased but at least we aren't paying 6.5%-7.5% like the historical averages. A thirty year fixed rate in the 5% range, is still a great deal."

Two statements - Two completely different outlooks.

It's the same with gas prices. They have gone higher but they aren't at the highest levels we have seen them (think March/April of 2008)

The question remains: Does it make it any easier?

NO - Is of course the resounding answer.

We all want the best rate, the cheapest gas, the easiest road. But it usually doesn't happen. I locked my fair share of loans in the 4% range, but those people didn't hold out for lower rates, they seized the opportunity. Sometimes timing isn't perfect and we wait too long until what was great passes us by.

I think the goal is to do what you believe is best at the time: based on past experiences and using good decision making skills. They say that "hindsight is 20/20" but perhaps those that say that dwell too much on the past. Think of why you make the decisions at the times that you made them and you will find that you probably made the decision with the best possible information you had available and were okay with it.

Life changes: sometimes for the good and sometimes for the bad. But one thing remains, another decision is always around the corner. How are you going to Spin it so that you make the best decision at that time. Don't let negativity keep you from moving forward...that might lead to regrets you never want to experience.

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