Making decisions is easier when you know what you value. We are constantly assessing and prioritising our value judgements and tradeoffs.
Imagine you’re going to the shop with a £5 note. You intend to buy milk, bread and cereal. However, on your way, you walk past a newsstand with the latest edition of your favourite magazine.
Now you need to decide if the food is more important or the magazine. Alternatively you could return home for more cash to consume it all. But that would require more time at this moment. So now you need to create a hierarchy of values.
Do you value your time more now (perhaps you’re in a rush to a meeting)? Perhaps the magazine articles will help you understand a critical subject for a work project. Or maybe your child has been ill and not eaten for three days. Though now they want their favourite cereal and bread.
What item will be most important to you and your life in this very instant? The decisions and tradeoffs need to be made now.
Your views and circumstances may change in six months or six years. Nonetheless, you need to make this decision right here and now.
We are constantly making momentary value judgements and tradeoffs. Remember though, so is everyone else.