As quoted by Carrie Fisher, “Instant satisfaction takes too much time.” This notion seems to echo in our surroundings, manifesting through everyone’s eagerness for immediate pleasure. The societal norm has shifted towards the expectation of immediate fulfillment of our desires.
The wave of consumerism companies create by producing various products aimed at simplifying our lives and quickening day-to-day tasks only emboldens this mindset. From one-click purchase apps, delivery services, and persistent advertising chanting the same mantra, “if you don’t own it, you need it now,” we’ve morphed into a society predominantly focused on instant gratification.
Regrettably, this unrelenting pursuit of instant satisfaction may be sabotaging our financial stability, as exemplified by the millions burdened with credit card debt. The individuals free from such debt are those who have honed the skill of delayed gratification, waiting before making a purchase, or even forgoing less significant acquisitions for a more rewarding future purchase.
In addition to helping you save money and enabling you to only buy what you truly desire, practicing delayed gratification assists in achieving financial goals. Here are six steps to successfully implement delayed gratification into your everyday life.
1. ALIGN WITH YOUR VALUES: Not everyone values the same things; what you consider crucial may not hold the same importance for another. It is essential not to be swayed by other’s priorities. Let your values, not societal pressures, guide your spending decisions. Knowing and sticking to your values can make practicing delayed gratification easier.
2. PLAN YOUR BUDGET: Spontaneous spending without a financial plan can lead to financial difficulties. A well-written plan or budget gives an overview of your income allocation. This clear view of your expenses will help in restraining from making impulsive purchases that can strain your budget.
3. CREATE LISTS: The many allurements around us can thwart our efforts in practicing delayed gratification. Stores and online websites are crafted to trigger impulse buying. A simple strategy to tackle this situation is to make shopping lists. It not only curbs distractions but also helps analyze if you really need that particular item later on.
4. UNDERSTAND YOUR PRIORITIES: Identifying what’s important and what’s not is paramount in managing your resources. Before making any purchase, spend some time (a day at least) thinking about it. This helps in differentiating between wants and needs, and readjusting your purchases accordingly.
5. SEE BEYOND THE IMMEDIATE: While that stylish car or high-end apparel may seem essential now, consider your larger financial goals. Are you saving for a house, planning for your kids’ education, or aiming to retire early? Spending on momentary desires could derail these plans. Visual reminders, like boards with images of your dream home, retirement plans or future goals might help deter impulsive spending.
6. TREAT YOURSELF OCCASIONALLY: Rewarding yourself occasionally with small treats can make practicing delayed gratification less daunting. Set smaller milestones and reward yourself at the end of them. This way, you don’t completely deprive yourself of happiness while staying on course.
In our society, embracing delayed gratification can feel like swimming against the tide. Yet, by focusing on what’s essential and resisting temptations, we can make it easier. Not only will your finances be healthier, but achieving your bigger dreams will give you far more satisfaction than any impulsive purchase could. So, how do you practice delayed gratification, and what strategies do you deploy?
