The Five Step Model to Solve Problems

Solving a Problem of Finances The problem I selected to solve is a finance problem: I am routinely coming up short at the end of each month and need to do something about my finances so that I am no longer short but rather in a position to save at the end of the month. By using the Five-Step Model in Chapter 3 of Becoming a Master Student by Dave Ellis (2015), it is possible to outline a process for solving the problem I have identified.

Indeed, identifying it is the first step. Step 2 is to ask: What are the alternatives? This means to judge what are some other ways in which the situation can be addressed. Step 3 asks: What are the advantages/disadvantages of each alternative, and this means you should weigh the pros and cons of each. Step 4 asks: What is the solution, and this means that you should determine based on the previous assessment which way will solve the problem.

Step 5 is to ask: How well is the solution working? -- which means that you have to measure the results and see if the solution implemented is effective.

For my problem, the alternatives are several: first, I could ask for higher wages at my work or for more hours; second, I could cut back on my budget and stop buying things that are not absolutely essential; third, I could move to a new building where my rent is less; fourth, I could apply for a grant from the government; fifth, I could take up part-time work at a second job.

The advantage of each of the alternatives is that they would allow me to have more money and thus not be short each month; the disadvantage of the first is that I may have to work longer days which will cut into study time. The disadvantage of the second is that my budget is already very tight. The disadvantage of the third is that I would have to move to a less safe neighborhood to find cheaper rent.

The disadvantage of the fourth is that I have never applied for a grant and do not know how to write for one. The disadvantage of the fifth is that it cuts into study time. The solution.