How can the planning process guide purchasing decisions and major life choices?

"An Example of Planning The following example illustrates the process of buying a new pair of wireless headphones using this planning process. Step 1: Set a Goal. Purchase a pair of wireless headphones. Step 2: Acquire Knowledge. Ask friends if you can try out their headphones. Study standards and specifications. Check on retailers, brands, models, and prices. Consult Consumer Reports. Step 3: Compare Alternatives. Alternative 1: Purchase a pair of headphones from an online auction website such as eBay. Pro: Affordable high-end equipment. Can buy right now. Con: Uncertain condition of equipment. Limited warranty. Alternative 2: Buy wireless headphones for $110. Pro: Can afford now; new equipment with warranty. Con: Not the best sound quality. Alternative 3: Buy a high-quality pair of headphones for $500. Pro: Excellent sound; new equipment with warranty. Con: Costs more than prepared to pay now. Step 4: Choose a Strategy. Decide to buy the high-quality headphones, but rather than using a credit card and paying interest, will delay the purchase for six months in order to save for them. Step 5: Make a Commitment. Give up going to the movies or buying coffee drinks from Starbucks for the six- month period, carry a lunch and stop eating out, and place the savings in a designated headphones fund. Step 6: Stay Flexible. Four months into the plan, a model change sale provides an opportunity to buy comparable equipment for $300. Make the purchase, paying cash. Planning for Your Life Using the planning process to make a buying decision is a simple exercise. Making a decision about major parts of your life is far more complex. You will see that no part of life is exempt from the need for planning. It is important to apply thought, creativity, and discipline to all the interrelated phases of our lives. These phases include the following: • Career: Choosing a field of work and developing the knowledge and skills needed to enter and move ahead in that field. We will offer you some tips to get started on a great career later in this chapter. • Self: Deciding who you are and what kind of person you want to be, working to develop your strengths"