--- title: Are you making financial decisions based on facts or opinion? description: With more than 11 years of experience working with more than 300 families from 50+ countries, I can help you make well-informed financial decisions. image: https://www.financialplanningindubai.com/hubfs/facts%20or%20opinions.png --- [![Financial_Planning_in_Dubai_logo](https://www.financialplanningindubai.com/hs-fs/hubfs/Financial%20Planning%20in%20Dubai%20Logo_9090-2.png?width=90&height=90&name=Financial%20Planning%20in%20Dubai%20Logo_9090-2.png "Financial_Planning_in_Dubai_logo")](https://www.financialplanningindubai.com/?hsLang=en-gb) - [Home](https://financialplanningindubai.com/) - [Blog](https://www.financialplanningindubai.com/blog) - [Services](https://www.financialplanningindubai.com/services) - [Islamic Investments & Takaful Plans](https://www.financialplanningindubai.com/blog/salama-hyat-plus-takaful-plan) - [Medical Insurance](https://www.financialplanningindubai.com/blog/topic/medical-insurance) - [Free Resources](https://www.financialplanningindubai.com/free-finanical-tools) - Tools - Calculators - [S&P 500 Investment Calculator](https://financialplanningindubai.com/sp-500-investment-calculator/) - [Life Insurance Calculator](https://www.financialplanningindubai.com/life-insurance-calculator) - [SIP Calculator](https://financialplanningindubai.com/sip-calculator/) - [Lumpsum investment calculator](https://www.financialplanningindubai.com/lump-sum-investment-calculator) - [Inflation Calculator](https://www.financialplanningindubai.com/inflation-calculator-uae) - [Net-Worth Calculator](https://www.financialplanningindubai.com/blog/free-personal-balance-sheet-template-networth-statement) - [The Best Budget Planner for Expats](https://www.financialplanningindubai.com/expat-budget-planner) [Book A Discovery Call](https://www.financialplanningindubai.com/meetings/damodhar?hsLang=en-gb) # Are you making financial decisions based on facts or opinion? ![Damodhar Mata](https://app.hubspot.com/settings/avatar/e63bc971ec29ebe6c012fd042c1a8215) [Damodhar Mata](https://www.financialplanningindubai.com/blog/author/money-mata-aka-damodhar-mata) 19 Jun 2023, 15:02:40 ###### [Financial Advisor in Dubai](https://www.financialplanningindubai.com/blog/topic/financial-advisor-in-dubai) Making well-informed decisions is crucial for financial success and well-being. However, knowing where to start or what information to trust can be a challenge.  In today's world, so much information is available on the internet on almost everything, including personal finance and investing, that it can be hard to separate the facts from the opinions. So, how do you know if you're making the right financial decisions? #### Here are a few things to keep in mind while making crucial financial decisions; - **Facts are based on evidence.** They are objective and can be verified. Opinions, on the other hand, are subjective and based on personal beliefs or biases. - **Facts are specific.** They provide details and can be measured. Opinions are general and often vague. - **The facts are consistent.** Multiple sources can support them. Opinions may change over time or depending on who is expressing them. When you're making financial decisions, it's crucial to gather as much factual information as possible.  This means reading the scope, benefits, and limitations of the investment/insurance, researching investment options, and talking to financial professionals.  Once you understand the facts well, you can start to form your own opinions. However, it's essential to be aware of your biases and open to new information. #### Here are a few tips for making financial decisions based on facts: - Do your research. The more you know about your finances, the better you'll be to make sound decisions. - Familiarize yourself with the [common investment biases](https://shermanwealth.com/common-investor-biases/) that cause investors to make wrong financial decisions.  - **Get advice from a financial professional.** A [financial advisor](https://www.financialplanningindubai.com/blog/best-financial-advisor-uae?hsLang=en-gb) can help you understand your options and make the best choices to suit your situation. - **Be patient.** Financial markets can be volatile, so it's essential to be patient and not make rash decisions. - **Verify**: When something looks too good to be true, it is most likely not true. You may be presented with lucrative investment options that may look very attractive, kindly verify the source and facts in writing before investing. - **Use the Right Source: **Always obtain information in writing from the right source. It is better if the information is from someone who can be held accountable. If required avail personalized financial advice, instead of just relying on general information. - **Obtain Relevant Information:** A lot of information on the internet is customized for the different target audiences in different countries, and it may not be relevant to you. Countries in the West and East have different tax regimes, financial regulations, social security benefits, economic factors, risk tolerances, and product availability.  Making financial decisions based on facts is not always easy, but it's the best way to protect your money and achieve your financial goals.  By following these tips, you can ensure that your decisions are based on sound information, not personal biases or opinions. ![Damodhar Mata-7-2](https://www.financialplanningindubai.com/hs-fs/hubfs/Damodhar%20Mata-7-2.png?width=100&height=100&name=Damodhar%20Mata-7-2.png)With more than 11 years of experience working with more than 300 families from 50+ countries,  I can help you make well-informed financial decisions. Connect with me on a discovery call to understand if we can work together.   [Click here to schedule our discovery call.](https://www.financialplanningindubai.com/meetings/damodhar?hsLang=en-gb)   ![Damodhar Mata](https://app.hubspot.com/settings/avatar/e63bc971ec29ebe6c012fd042c1a8215) [Damodhar Mata](https://www.financialplanningindubai.com/blog/author/money-mata-aka-damodhar-mata) Author, Blogger & Independent Financial Advisor. My goal is to give you actionable tools for creating passive income and building wealth. More than 10,000 expats have already used my ideas to jumpstart their journey towards financial independence. Connect with me to start yours... Share this article on [mailto:?subject=Check%20out%20Are%20you%20making%20financial%20decisions%20based%20on%20facts%20or%20opinion?%20&body=Check%20out%20https://www.financialplanningindubai.com/blog/facts-vs-opinion](mailto:?subject=Check%20out%20Are%20you%20making%20financial%20decisions%20based%20on%20facts%20or%20opinion?%20&body=Check%20out%20https://www.financialplanningindubai.com/blog/facts-vs-opinion) ##### Read more - [The Real C-Suite – The Only Title That Matters 🏆](https://www.financialplanningindubai.com/blog/breadwinner?hsLang=en-gb) - [The Wealth Secret 99% of Investors Ignore – Will You?](https://www.financialplanningindubai.com/blog/the-iceberg-of-investing?hsLang=en-gb) - [From Risk to Reward? 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Adding one or [Read More](https://www.financialplanningindubai.com/blog/top-6-riders-on-zurich-futura-whole-of-life-insurance?hsLang=en-gb) [![What It Means When You Buy Life Insurance?](https://www.financialplanningindubai.com/hs-fs/hubfs/Child%20Education%20Seminar.jpg?width=300&name=Child%20Education%20Seminar.jpg)](https://www.financialplanningindubai.com/blog/2015/08/26/when-you-buy-life-insurance?hsLang=en-gb) ###### [Financial Planning,](https://www.financialplanningindubai.com/blog/topic/financial-planning)[life insurance,](https://www.financialplanningindubai.com/blog/topic/life-insurance-2)[Life Insurance Dubai,](https://www.financialplanningindubai.com/blog/topic/life-insurance-dubai)[Life Insurance in Dubai](https://www.financialplanningindubai.com/blog/topic/life-insurance-in-dubai) ##### [What It Means When You Buy Life Insurance?](https://www.financialplanningindubai.com/blog/2015/08/26/when-you-buy-life-insurance?hsLang=en-gb) **What do you buy, when you buy Life Insurance?** [Read More](https://www.financialplanningindubai.com/blog/2015/08/26/when-you-buy-life-insurance?hsLang=en-gb) [![Should I save or Should I invest? - Money Mata's Blog](https://www.financialplanningindubai.com/hs-fs/hubfs/Imported_Blog_Media/money-at-work-2.jpg?width=300&name=money-at-work-2.jpg)](https://www.financialplanningindubai.com/blog/how-to-build-wealth-in-dubai?hsLang=en-gb) ###### [Investments](https://www.financialplanningindubai.com/blog/topic/investments) ##### [Should I save or Should I invest? - Money Mata's Blog](https://www.financialplanningindubai.com/blog/how-to-build-wealth-in-dubai?hsLang=en-gb) # How to build wealth in Dubai? When people want to save money, they usually put their net disposable... [Read More](https://www.financialplanningindubai.com/blog/how-to-build-wealth-in-dubai?hsLang=en-gb) *Damodhar Mata | Your Trusted Financial Advisor in Dubai* ![Damodhar Mata-7-2](https://www.financialplanningindubai.com/hs-fs/hubfs/Damodhar%20Mata-7-2.png?width=119&height=119&name=Damodhar%20Mata-7-2.png) *I can help you grow wealth, gain passive income, and achieve your goals faster and with ease. * **Top Pages** - [Home page](https://www.financialplanningindubai.com) - [Best Life Insurance](https://www.financialplanningindubai.com/best-life-insurance-dubai) - [Best Investment Plan](https://www.financialplanningindubai.com/blog/how-to-invest-in-uae) - [Retirement Planning in the UAE](https://www.financialplanningindubai.com/retirement-planning-in-uae) - [FIRE Early Retirement Guide](https://www.financialplanningindubai.com/blog/early-retirement-in-uae-fire-guide) - [Best Child Education Plan](https://www.financialplanningindubai.com/childrens-education-planning) **Top Blog Posts** - [Financial Planner or Financial Advisor?](https://www.financialplanningindubai.com/blog/financial-planner-or-financial-advisor) - [How to find the Best Financial Advisor](https://www.financialplanningindubai.com/blog/best-financial-advisor-uae) - [Win With Money Challenge](https://www.financialplanningindubai.com/blog/30-days-win-with-money-challenge) - [FIRE guide for expats](https://www.financialplanningindubai.com/blog/early-retirement-in-uae-fire-guide) - [Pay Yourself First](https://www.financialplanningindubai.com/blog/how-expats-in-uae-can-grow-wealth-using-pay-yourself-first-strategy) - [Google Reviews](https://www.financialplanningindubai.com/testimonials-financial-advisor-in-dubai) **Other pages** - [About us](https://www.financialplanningindubai.com/about-us) - [Testimonials](https://www.financialplanningindubai.com/testimonials-financial-advisor-in-dubai) - [Services](https://www.financialplanningindubai.com/services) - [Contact us](https://www.financialplanningindubai.com/contact-us) --- © 2024 Financial Planning in Dubai. 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