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To make progress, you must either lay on the gas or ease off

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canada goose The 'Gas Or Brake Method' Could Help You Make Better Money Choices Libby Kane Apr. 10, 2014, 12:57 PM Patrick Smith / Getty Images If you’ve ever driven a car — or frankly, if you’ve ever ridden in one — this decision-making strategy could help you make better choices with your money. The “Gas or Brake Method,” recently coined by Lifehacker, is a simple way of aligning your daily choices with your long-term goals. The concept was originally outlined on financial blog Early Retirement Extreme and compares handling your money to driving to a destination. Making financial choices, then, is like using the gas or the brake. If your car is an automatic, it has a gas pedal and a brake. One will get you closer to your goal, and one will slow you down. To make progress , you must either lay on the gas or ease off the brake. According to Early Retirement Extreme, when you’re about to make a financial decision, you should ask yourself: “If I do this; if I engage in this activity, am I pressing the accelerator or the brake? … Every time you touch something Canada Goose outlet sale , ask yourself whether this item has accelerated your income or whether it has decreased your savings.” It’s a useful question for all types of financial choices: buying that third pair of dark-washed jeans, asking for a raise at work, or opening a retirement savings account. So the next time you come to a crossroads, consider which choice will hold you back and which will get you further down the path to where you want to be. SEE ALSO: Meet The Average Guy Who Will Quit His Job And Retire At 32 canada goose parka

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