How Delayed Gratification Makes You Happier

Today, you are surrounded by many ways to shop and get what you want. Advertisements are everywhere, and it is getting easier to part with your money. Most of the time, you can get tempted to buy something that you are convinced to be of use. It will eventually end up somewhere in your apartment to gather dust while you swipe through your phone for its next companion.

You need to find ways to reduce spending. Debt should be avoided as much as possible, and one of the best paths to getting rid of it is by cutting those credit cards when you finally pay them off and practicing delayed gratification. Experiencing a little discomfort from the absence of pleasure you get from purchases can go a long way in terms of financial resiliency, funding your future, and not being a victim of incessant advertising.

Less Money Stress

Being in debt can make you lose sleep and will induce unnecessary stress. The anxiety you might have from not having enough to pay it off can keep your quality of life from improving. When you practice delayed gratification, it can prevent you from overspending on purchases that you do not have to make. That way, you can save up for emergencies instead.

For instance, if you or someone you know gets in an accident, the absence of an emergency fund can tempt you to swipe your credit card or apply for a loan. While it sounds like a short-term solution, it could cripple you with debt later on. So long as you have money saved for emergencies, you will not have to be in a lot of debt when the time comes. Your emergency fund will earn you financial resilience in the future.

You can also save up for a buffer fund that can pay for you and your dependents, if any, just in case you get laid off. It is a sizable amount (about 6-12 months of how much you spend), but you will get there through delayed gratification. You also will not have to rush to get any job that comes your way. Instead, you have a choice in your next opportunity.

Finance Your Own Dreams

You can use some of your savings (a different fund aside from your emergency fund) to pay a big, important purchase in the future. Some things are worth the wait and extra effort in saving. For example, if you want to finally stop having to pay rent every month and own your own house, the best mortgage lenders and your savings can help you get there. A deposit can be heavy on your finances. That is why you need the help of professionals and the strength to save up for it.

Delayed Gratification – Issue 28 (Deficiencies copy)

The same case for a business you want to start. If you want to quit your job to be an entrepreneur, you will be a lot better off with the direction of your venture if you finance it yourself. You will not have to listen to investors on their ideas that can ruin the project. It will just be about your idea and your money. You will truly be your own boss. But the only way to get to financial independence like that is delayed gratification (or a hefty inheritance).

Ads Will Not Work On You

One of the things that fuel instant gratification habits is advertisements. They photograph the product or service as well as they can to affect how your mind interprets desire. Once you master the habit of delayed gratification, you will learn how to ignore them. For every want you ignore, you will reinforce the idea that you do not need to buy things as soon as advertisers want you to do so. You can think about it first and really consider if you need to spend money on it.

Through delayed gratification, you will be able to make informed choices on how you spend your income. You can become financially independent, resilient, and wise. It is going to be difficult to deny yourself the things that you want. But constantly reminding yourself of the benefits can be a strong tool to help you get there. Even though it might be nice to own something brand new, and all the points you can get from a swipe could get you a free ticket, wouldn’t it be much better if you did not have to show up to work at all? When the time comes for you to retire, it would be a lot better if you had that option without debts to think about.