Five Step Model

In: Business and Management

Submitted By zoeyc
Words 694
Pages 3
Applying the Five Step Model


University of Phoenix
Amy Riddle

The five step model begins with identifying the problem. In order to do that is by understanding exactly what is going on. Once the problem is identified, the rest of the process will feel more manageable. Discovering how the problem all started is the next leading thing to the process. Thinking critically will help anyone start a list. When the list is created you can now figure out how to solve the problem that you are having. Now it’s time to evaluate what is the best option to the solution. Critical thinking becomes your best tool here. The best part of it all is doing what needs to be done to get the problem resolved. Almost everyone is confronted with financial problems during his and her lifetime. Whether these problems come from major college debt, bankruptcy or not being able to find a job that sustains your lifestyle, everyone needs to face his or her financial problems and deal with them appropriately. Ignoring financial problems only makes them worse, but bracing the issue won't always be the easiest thing to do, but in the long run, it can significantly improve your life and teach you about responsibility. You should treat everything you do like a financial investment. This allows you to make good spending decisions as you work toward fixing your financial problems.

First I look at my financial situation closely. It is important to determine the exact cause of financial alarm. Is your credit debt too high? Are your student loans breaking the bank? Have you spent too much money on a vacation, or have you lost money in the stock market? Make a point to look at exactly why you're experiencing financial problems. Investigate what may be the cause and think about even if the solution seems impossible and what the solution would be.


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