Last updated on May 7th, 2014
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Lots of advices have been said about the importance of delaying gratification especially in handling our own finances. While this is true, I believe that this principle is not entirely new to us. In fact, I think this is inherent within us.
In my own experience, while I’d definitely want to enjoy the present, I’d naturally choose and yearn more to enjoy the last stages down the road. For me, it’s simply illogical to enjoy now knowing I’d suffer later on. I’d rather do the opposite and delay gratification now and have the enjoyment in its fullest sense at the end. The gospel yesterday seems to have something related to say:
Which of you wishing to construct a tower does not first sit down and calculate the cost to see if there is enough for its completion? Otherwise, after laying the foundation and finding himself unable to finish the work the onlookers should laugh at him and say, ‘This one began to build but did not have the resources to finish.’ (Luke 14: 28-30).
I remember one time when I celebrated my birthday with some officemates. We’ve decided to celebrate it at Vikings( whow bigtime!)
We’ve got two options: to do the lunch-out during (an extended) office lunchtime or do it after office time and have a dinner buffet instead.
And I recall naturally pushing for the second choice for the main reason that it simply didn’t appeal to me to enjoy the buffet when I knew I’d go back to my desk and finish a job. I’d rather finish the job and have the celebration later on (without thinking when it should end) then go straight home for a good rest.
Investing is actually a concrete example of delaying gratification. While we can readily spend the money we have now and experience the joy it brings, we’re delaying that experience to have a much better version of it in the future (hopefully giving it a better meaning and fulfillment for us).
Below is another excerpt from Truly Rich Club‘s Wealth Strategy acticle discussing another good point about this value. For those thinking to buy your own house someday (I do!), let this help you see that decision more objectively.
|Photo credit: Investing is actually a concrete example of delaying gratification.|
The Price of Delaying Gratification (Lyndon Malanog)
Last 1994, right after our wedding, we decided to buy our own home. It’s a simple home built on a 240-square-meter lot in the area of Rizal with a total price of P300,000. One hundred fifty thousand pesos was the amount that we needed to pay in cash to the first owner and the remaining half will be an assumed SSS Housing Loan.
PS: The above piece is a short section of a sample Wealth Strategy article of Truly Rich Club from Lyndon Malanog.
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