Think for a Change


I'm not sure where it originated, but I've heard it repeated time and time again: Insanity is doing the same thing over and over and expecting different results. As much sense as that statement makes, we often find ourselves addressing the same issue with solutions that are little more than rearranged expressions of previously failed solutions. Why can't we develop new solutions to persistent problems? Because we refuse to think!

Chris Argyris first articulated the concept of double-loop learning. Stop; don't close the window... this is easier than it sounds. Once you get a handle on it, you will be better prepared to address the problems you face with solutions that might actually work!

Let's back into the idea. Let's say you have a persistent problem in one area of your life--for instance, finances. You always seem to come up short in your cash flow. That is a consequence of a strategy based on assumptions. There are the three parts to the process.

Many times, people experience negative consequences so they develop new strategies. After a while, they discover that the new strategies produced the same results as the old strategies. So, they lapse into an endless cycle of strategizing to overcome failed efforts.

In personal finance, people find themselves in debt, so they borrow money to get out of debt. Note: the strategy that caused the problem won't often be the solution to that problem!

The real solution to the problem requires a careful evaluation of the assumptions upon which the failed strategies are based. This is tough because it requires people to change their minds and their actions. Yet, real solutions can't be developed apart from this process.

In personal finance, an individual must determine that personal debt is not the solution to the problems encountered at the end of the month. Granted most people carry huge loads of debt; but most people are broke! It's not working for them, why will it work for you?

The consequences you face are a result of the strategies you develop. The strategies are rooted in your assumptions about the way things really are. If you want to solve problems and stop pretending to be a victim of your circumstances, you'll embrace a new way of thinking. Otherwise, you're doomed to repeat encounters with the same negative consequences.

Get control of your thinking or someone will be glad to think for you!

Dr. Terry Hadaway is author of 30 Seconds to Chaos: Mastering the Art of "What If" Thinking and numerous articles. Visit http://www.30secondstochaos.com for more information on Dr. Hadaway and his straightforward approach to winning at life!







Related News



Andhra pays for fiscal profligacy, may be denied debt relief - Economic Times

Andhra pays for fiscal profligacy, may be denied debt relief
Economic Times, India -Dec 1, 2008
In FY08, the state got a debt-relief of around Rs 1889 crore. “We have been attaining a revenue surplus despite huge allocations for revenue expenditure ...


Home > News > World Bank Launches Facility to Prevent ... - World Bank Group

Home > News > World Bank Launches Facility to Prevent ...
World Bank Group, DC -Nov 30, 2008
The Bank also called on donor countries to meet their debt relief commitments. “The debt relief provided by the World Bank and other creditors to heavily ...

Paulson Considers New Plan to Lower Mortgage Rates (Update3) - Bloomberg

CNBC

Paulson Considers New Plan to Lower Mortgage Rates (Update3)
Bloomberg -2 hours ago
He first resisted, then accepted, foreclosure relief as part of the $168 billion economic-stimulus package passed in February. House prices in 20 US cities ...
Mortgage applications up 112.1% last week, due to drop in rates: MBAMarketWatch
US working on affordable mortgage plan: sourcesReuters
US government tackles mortgage ratesTelegraph.co.uk
all 307 news articles

Holders deem Station Casinos bond offer "deficient" - Reuters

Holders deem Station Casinos bond offer "deficient"
Reuters -6 hours ago
The new debt is being offered at a significant discount to par, with senior note holders being offered $540 per $1000 in debt and subordinated note holders ...

WEALTHY NATIONS, OTHERS BEHIND FINANCIAL CRISIS MUST TAKE ... - 7thSpace Interactive (press release)

Gulf Times

WEALTHY NATIONS, OTHERS BEHIND FINANCIAL CRISIS MUST TAKE ...
7thSpace Interactive (press release), NY -Dec 2, 2008
In introductory remarks, moderator Portugal said significant advances had been made since Monterrey, particularly on debt relief for the poorest countries. ...
‘Recession must not lead to human crisis’Business Mirror
Amidst financial meltdown, Doha Conference gives developing ...MediaGlobal
Kenya committed to Monterrey ConsensusCapital FM
Kenya Broadcasting Corporation - USAID (press release)
all 358 news articles

GM, Chrysler Win Union Concessions to Bolster Aid Bid (Update3) - Bloomberg

ABC News

GM, Chrysler Win Union Concessions to Bolster Aid Bid (Update3)
Bloomberg -1 hour ago
GM had its rating on $43 billion of debt cut to Ca, the second-lowest grade, from Caa2 by Moody's Investors Service today. Chrysler's credit rating was also ...
Video: UAW to Renegotiate Labor Terms, Modify Jobs BankAssociatedPress
GM's Henderson says UAW talks ongoingDetNews.com
US car union makes concessionsFinancial Times
all 1,456 news articles

UPDATE 1-Pininfarina sees agreement with banks by end-2008 - Reuters

Boston Globe

UPDATE 1-Pininfarina sees agreement with banks by end-2008
Reuters -5 hours ago
MI: Quote, Profile, Research, Stock Buzz) is also in talks with its main creditor, Royal Bank of Scotland, to gain relief from its 3 billion euro debt. ...
Europe stocks rise as buoyant pharmas offset minersReuters
all 1,640 news articles

Know the Details of the Mortgage Forgiveness Debt Relief Act - RisMedia.com (press release)

Know the Details of the Mortgage Forgiveness Debt Relief Act
RisMedia.com (press release), CT -Dec 1, 2008
... in December 2007, Congress stepped in to provide temporary relief in the form of forgiving this debt, but only for the 2007, 2008 and 2009 tax years. ...

Obama pledges relief to governors - The News Journal

Obama pledges relief to governors
The News Journal, DE -10 hours ago
"We don't believe economic problems that were in large measure created by too much debt will be solved by more debt," Sanford said Tuesday. ". ...

Firms Seek More Action to Unfreeze Lending - Wall Street Journal

Firms Seek More Action to Unfreeze Lending
Wall Street Journal -7 hours ago
So far, the Treasury's Troubled Asset Relief Program, or TARP, and Fed programs to ease the financial crunch have focused on banks and, more recently, ...