Wednesday, September 2, 2009

How do I delay gratification?

How do I delay gratification?

Picture by Nicole.
Oh my, this is a difficult one for me! Recently, I have been able to delay gratification and learn some patience because we would like to start our family soon. So, I realize that if I buy certain things then I am taking away from our baby fund.


I have always wanted to have children so being able to provide for my children is a very important value of mine. For example, when I am at a store and I want the latest pair of shoes I immediately start to think of babies and I no longer want those shoes. Hahahaha….whatever works right?!

Do you have a big future want /need that you can put in your mind to delay your gratification?
Some examples of big ticket future items:
- Retirement
- College Education
- Purchase a car
- Purchase a home
- Go on a nice vacation
- Pay off your debt (think that $50.00 spent on shoes could go towards a credit card payment)

I used other techniques to delay my gratification while I was in debt like freezing my credit cards, putting sticky notes on my cards, pausing and putting things on hold instead of buying them right that instant. All of these worked for me because I was usually too lazy to defrost my credit cards, or my sticky note would stop me, or I didn’t need that item that I put on hold anyway.


I hope these help you with delaying your gratification. I am thinking about doing a series of ideas about how to delay gratification. Is this something that you would want?

By the way, I think that delaying gratification is by far the hardest thing to do in our society. But once you learn self control you will be richer for it. Plus you will have more in your savings.


Best wishes,


Janie

6 comments:

  1. Another great post! I think a series on the topic would be a good idea because as you said, it's very hard for some people. My technique for delaying gratification, I always ask myself when shopping "Do I need this or do I want this?" If the answer is "want", I put it back.

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  2. Hi Janelle,

    You are so kind! Thanks for posting your technique for delaying gratification. I will put together a post of ideas to deal gratification. It is so hard. I still have a hard time with it.

    I get into these moods and I just want, want, want. But I have priorities now and it stops me.

    Best wishes,

    Janie

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  3. Delayed gratification is something I think about quite often.

    I think it is harder to save for things like retirement or starting a family because it’s difficult to pinpoint exactly how much you are going to need and with retirement it is so far off into the future; whereas with next year’s vacation or a down payment on a house people are more likely to have a budgeted amount in mind. There is an end in sight.

    Back in 2003, my husband lost his job. To make ends meet we ratcheted our spending down to just the basic necessities. After he found a new job, we continued our new spendthrift ways. Eventually, saving became a way of life and delayed gratification didn’t seem like a sacrifice anymore. Now when we want something we save up and pay cash.

    This year has been tough though, I took a substantial pay cut in May and both of us have lost benefits. We haven’t been able to save additional money other than our retirement contributions and had to dip into our emergency fund for a new dryer, and some substantial home repairs. When things are dismal it’s hard to stay on track. I would love to treat myself to a new outfit that didn’t come off the clearance rack.

    Last week, I had a little positive inspiration from a thrifty co-worker. He turned 60 two months ago. On his birthday he told me he had enough money to retire and on his next bad day he was going to do so. He resigned last Friday. I would love to have that kind of flexibility some day, but in the mean time I need to come up with some new ways to cut corners that don’t feel like sacrifices or come with a lot of extra work like making your own laundry detergent.

    Thanks for the interesting post; as you can see you got me thinking.

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  4. Hi Savvy Working Gal,

    First, thank you so much for your thoughtful comments. I love that you wrote so much and your information is great! It is always helpful for me to know what is going on and on the minds of my readers. I am just one person and sometimes I am only able to see the world from my life experiences. But I do keep an open mind and I know that I am not always correct.

    I think you made some very good points. I never thought about the fact that it is difficult to maybe think about a bugdet item that is a moving target like retirement or a baby fund. This is a great comment.

    Now you have me thinking. Thanks for the great comment!

    Good luck!

    Best wishes,

    Janie

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  5. I automatically throw out the sales ads from the mailbox and don't drive to the stores. But, it can get awfully tempting sometimes. Right now I am trying to delay my gratification by learning to get good at coupon shopping at the grocery store. win-win situation, right? ;)

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  6. Hi Money Funk,

    Thanks for leaving your comment. This is a great idea too! Throwing out those sales ads so you don't tempt yourself. Thanks for sharing hope you will again.

    Best wishes,

    Janie

    ReplyDelete

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