1. Limit the options: Purchase illiquid investments to avoid the urge to sell investments when the market is falling.
2. Avoidance: Avoid information about how the market or portfolio is performing in order to stick to a long-term investment strategy.
3. Rules: Establish and use rules to help make better financial decisions, such as spend only out of income and never out of capital.
4. Deadlines: Set financial deadlines. For example, aim to save a certain amount of money by the end of the year.
5. Cool off: Wait a few days after making a big financial decision before executing it.
6. Delegation: Delegate financial decisions to others, such as allowing an investment adviser to manage your portfolio.
7. Other people: Use other people to help reach financial goals. An example would be meeting with a financial adviser to make and execute a financial plan.