Wednesday, October 22, 2008

Deal or No Deal?

deal negotiate
The popular game show "Deal or No Deal" reflects the turmoil we face when made to choose between what we want and what we are being offered. When selling a house you struggle with this dilema - should I take this offer or is there a better one around the corner? When investing we wonder - should I dump this stock or wait for the market to improve? When making a large purchase - we wonder is this the best price we can get or is there a better offer out there? When choosing your partner - you wonder if this is the one or ... just kidding!

To vascillate is human nature - to know exactly when to close a deal or walk away from one is smart money management. Know what you want before you start negotiating and stick with your plan. Walk away if you have to - there is always another deal around the corner.

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