When talking about delayed gratification, sometimes people become unhappy and uncomfortable about the idea of not getting what they want, right then, right there. After all, who wants to wait for something when it’s at your fingertips now? When it comes to finances, delayed gratification is even more difficult, but even more rewarding. Looking at it now, it might just seem suffocating not to be able to get something in the next thirty second and instead wait for days or even weeks, but in a lot of ways, it makes purchases a whole lot more satisfying.
Save Some Cash
One of the most obvious benefits of delaying a purchase is saving some cash. Say you ran into a new video game that you really, really want to play, but you have plenty of other things to do in the meantime. It’s something you really want to play but it’s by no means something you have to play now – which means you can wait. Even waiting a few days can have a tremendous effect – people buy the game, beat it in three days, and then turn it in to game stores that then sell it at a reduced ‘used’ price. So waiting a simple 72 hours can save you serious cash, and if you can bear waiting a few months, the price can drop even lower.
The world of video games may seem different than everything else, but it’s really not. The price hype on items when they are first released applies to almost everything, from TVs to clothing items – a pair of flip flops at the beginning of a season can easily slip 90% in price by the end of the season, when you could buy your favorite pairs and use them next year.
Be Inspired to Love your Stuff
So you have a pair of shoes you want to replace, but not because they’re ugly or worn, but because you’re tired of them. If you just wait until the pair is worn out, not only do you save money, but the shoes you purchase to replace your old shoes will now be quite the item in your mind, and you might even take better care of them because you earned them. When you make impulsive purchases, it’s easy to fall out of love and abandon the item purchased because you didn’t really think it over, and you just put it in your cart because it was shiny. When you take the time to really find exactly what you want while your last set, pair, or item wears out, you can really find joy in the new purchase, which is probably one of the most important things we can do for ourselves, especially since joy can tend to be a little rare in some cases as of late.
You’ve saved money. You’ve made a purchase you love. You didn’t go over your budget. Why should you be guilty about anything? Sometimes impulsive purchasing can bring a person feelings like ‘that was a stupid idea’, which ruins the purchase anyway. When you delay gratification in a purchase, you’re really bringing quite a few rewards to yourself in terms of cash and personal satisfaction.
Don’t be afraid to start with little things, like video games and shoes, but this concept can be applied to big purchases like cars, too. Taking the time to make the right decision can bring a fortune into your lap, whether it comes via financial gains or gains of a much more personal nature.
Author Bio:- Valerie Anne B. Reyes is a freelance writer. She writes guest posts on personal finance websites, particularly those dealing with credit card consolidation, debt settlement and debt reduction.