Of any situation, there are always two sides just like the two sides of the same coin. There are pros and cons for each and everything we do. The only point of difference arises at our own perception and thought process.
Sometimes the decisions are also rules by needs, wants and capacity. All of these factors coupled together tell us if a decision is wise or not.
Speaking about technology, a person before making any decision should do a thorough SWOT Analysis. The brief description of SWOT is as follows:
– S: S stands for strength. Before boiling down to anyone decision it is important to understand the strength of it.
– W: W stands for weakness. It is always better to understand the weakness way before.
– O: O stands for opportunity. Before finalising a decision it is vital to understand that the opportunities it is going to provide in future.
– T: T stands for threat. More than opportunities, one should always focus on the threats which are expected to come.
In terms of making a decision to invest in a 25 Lakh car or a 10 Lakh car and invest the rest of the amount to enjoy the interest, one has to analyse both the options in detail and then shortlisted.
Decision 1: Buy 25 Lakhs car
All of us get one life, it is important to live that life to the fullest without wasting any moment. A person only thinks to buy a 25 Lakh car when he or she can afford. But looking at the different point of view, it is waste to spend so much on a car when the purpose is literally to travel from one place to the other.
Decision 2: Out of 25 Lakhs, buy a 10 Lakh car and save the rest of the amount and keep the interest.
This option is a little wiser one as there is no point in investing in an asset which is a depreciating once instead of an appreciating asset which is money Kept at the bank: