Comments on: Does Delayed Gratification Exist?

By: SaveBuyLive

SaveBuyLive — Fri, 01 May 2009 21:26:03 +0000

Delayed gratification exists, it’s just harder to practice and not entirely for the reasons you laid out.

There may be a cultural need to purchase as much stuff as soon as possible. People respond to cultural influences and this may just be one more example of that.

Another reason that people may engage in wanton consumerism is that it feels good to buy something. Saving your money does not feel good nor does it impress anyone else. The only problem is that the euphoric high of buying goes away rapidly.

By: E.C.

E.C. — Tue, 21 Apr 2009 00:31:23 +0000

In a world without easy credit, delayed gratification becomes mandatory.

When I was in lower elementary school, I wanted a camera. It cost $11, and that was a major expenditure in the days when I got $1 a week in allowance. Every time we went to Kmart while I was saving up, my mom would let me go visit the cameras, and no other purchase has ever thrilled me as much as the day I finally got to take one home. Delayed gratification was a lesson learned early thanks to parents who had the foresight to let me experience managing money while I was young.

By: SimplyForties

SimplyForties — Sun, 19 Apr 2009 20:29:49 +0000

The best thing about delayed gratification is realizing how many things you no longer even want by the time you save up enough money to pay for them!

By: Margaret

Margaret — Sun, 19 Apr 2009 07:36:33 +0000

I got my first credit card from a sign up table during my first year of university. Woe is me! Delayed gratification was no longer an issue. The available credit balance is in my head right beside the bank balance as an available resource to make the purchase, so once we decide to make a purchase, then we make the purchase — no delay to save for it, because we have DECIDED to do it and we have the means. However, now it is time to conquer the debt and spending mentality, so we are working on the delayed gratification thing.

By: Clair Schwan of Frugal Living Freedom

Clair Schwan of Frugal Living Freedom — Sat, 18 Apr 2009 03:27:21 +0000

I’m frugal and early self-retired in part because of my frugality. I’ve saved my earnings over the years, so I can buy anything I want and pay cash, but my field of wants is rather narrow because I know the value of money, and I know the value of items that money can buy. In other words, I make purchases based on reason, not emotions.

I also have a plan for my financial resources, and I avoid advertising that is designed to sway my emotions to make me feel less satisfied with my life. As a result, I feel just fine about what I have, and I’m not compelled in the least to buy things that don’t fit in with my plans. There are many things that others have that I don’t. For example:

- an iPod
- a camera phone
- a digital video camera
- a blackberry
- a blue tooth
- a new car
- an SUV
- a mortgage
- a credit card balance
- creditors

I save and use my money in a calculated manner to pay for things that have lasting value like a primary residence, a vacation home, tools for earning money, and permanent resources that enable me to be self-sufficient. To me, these things are worthy of investment because they serve me well over the long haul.

Being able to delay gratification often means that you live deliberately and have your sights set on something that is worth waiting for. In other words, you most likely have a plan and you follow it.

If you can’t delay gratification, then you probably don’t have a plan, and you allow emotions of the moment to influence spending decisions. This is unwise if you hope to have a future of your own design.

An associate of mine is fond of saying “If you don’t know where you’re going, any road will get you there.” Wise money management requires a plan just like any other key portion of your life.

Clair

By: tom

tom — Sat, 18 Apr 2009 01:36:33 +0000

Sadly yes, plus our generation does not understand what it means to struggle, like our parents did to get us here.

I think this recession right now is a reality check, but times need to get tougher before it really hits people.

By: Wilhelm Scream

Wilhelm Scream — Fri, 17 Apr 2009 20:20:37 +0000

I think delayed gratification comes not at the moment of purchase but in the weeks afterwards when you can still look at your shiny new toy and adore it and not feel guilty. That’s the true power of having waited and bought it with cash.

By: The Weakonomist

The Weakonomist — Fri, 17 Apr 2009 17:33:00 +0000

Certainly it exists, there’s a 2008 Accord in my driveway, an iPhone in my pocket, and an engagement ring on my fiancee’s finger that all agree with me.

Saving and waiting is worth it, though I’m sure my fiancee would have wanted to ring sooner

By: Trevor @ Financial Nut

Trevor @ Financial Nut — Fri, 17 Apr 2009 16:40:53 +0000

It feels AMAZING to wait to spend. I love the feeling of saving up and then purchasing with that money I saved. Even though I don’t literally pay for the product with that money (I use a cc for the rewards points), it still feels great.