The Benefits of Mastering the Art of Delayed Gratification

quote-the-ability-to-discipline-yourself-to-delay-gratification-in-the-short-term-in-order-brian-tracy-57-63-63We are living in an era where everything can be microwavable, which I am not offending by the way. I think it’s a good thing to be living in such kind of era, but again like other things that we are certainly lucky to be in, it also has its own implications. Pretty much we can get many things that we desire instantly. For example; if you are hungry, there are plenty of food that you only need to add water, and put in a microwave, and you are ready to eat a full course meal. But let’s talk about other areas that we microwavable things also, the areas that we feed our instant gratifications, and easily yield to our instant desires and temptations. Sometimes even to feed our insecurities and frustrations. With overnight shipment, you can order something online in the middle of the night, and get it the evening after to your front door. If you crave anything really, all you have got to do is click on the product; you don’t even need to re-submit some of your credit cards information again if you have already saved them once in the system. There are no better ways to communicate than ever. We have got all kinds of social media networking tools, including text messaging on the palm of our hands. You want to be entertained 24 hours? Watch porn, movies, news, all kind of videos – I mean for free; all you need is to be connected to Wi-Fi. You can go to Hawaii to lying on the beach tonight if you want, if you have got money to pay for an emergency vacation. There are plenty of airlines companies competing for customers like you.

Well, who doesn’t like instant stuff? It’s fine really, but in financial matters if you try to microwavable things like you are doing in your other areas of life; you are going to end up broke all the time. Especially for those of us, who instead of paying ourselves first, we concentrate on our expenses, but yet later on, even have the urge to also spend all our savings to justify our cravings and instant desires that we can simply live without in many cases. Financial experts, or gurus they don’t keep it secret, even the rich and wealthy people too; the best way to become financial free and build wealth is by mastering the art of delayed gratification. It will save you tons of money. People who have built wealth they say you need to pay yourself first, before you pay any of your expenses. The formula goes like this; income – savings – expenses should equal zero. By the way, there is a budgeting tool and an app by Dave Ramsey called “EveryDollar.” It’s free to use but if you want extra services, you need to pay about a hundred bucks a year. It is really worth to look at especially for personal financing.  This tool will show you where your money is going, and how you can budget it to meet your needs as you keep tracking your expenses if you too have been making a long series of poor financial decisions.

Anyway, the above formula will work only if you will learn to keep your instant desires under control and basically live below your means. That’s how rich and wealthy people handle their financial matters. Look at Bill Gates, look at Mark Zuckerberg, or even Warren Buffet; they don’t wear flashy suits all the time, you know what I mean. Do you think they can’t afford to wear flashy suits all the time? In fact, if you meet them in person, and you didn’t know that they were rich, you wouldn’t even noticed if they have got a lot of money holding most, if not some countries’ economies right now.

If you are a person who likes to live a microwavable lifestyle, here is what is going to happen; you will pay yourself first 5 percent of your income to your 401(k), and 5 percent to your emergency fund, and that’s pretty much it. The rest will be paying for your expenses and buying the things you really can live without. Rich and wealthy people pay themselves about 40 percent of their income. And that’s how they got to build their wealth.  And they don’t just save all the 40 percent, they probably save 10 percent, and the 30 percent they invest it; they buy assets with it, put in their businesses, so that they can generate more money. And the rest of their 60 percent they will spend on giving, and paying for their expenses and bills. That’s how they control their money. They apply the art of delayed gratification by living below their means, spending less than they earn, but saving and investing more for their future.

Sometimes I look at the bunch of stuff that I have accumulated, when I didn’t know better. They are only catching dust. And I honestly don’t even want to bother to sell them, but I have learned my lessons. The makeups, the shoes, the clothes, and purses; some of them I don’t even know if I am going to wear them again. Sometimes I wish the money I used to buy the excess belongings, I would have used to buy assets and create more sources of income for myself instead. Like I said, lessons learned. This time I am a little bit wiser.

The ability to delay gratification is critical to have if you want to succeed in all aspects of life. Basically with success, usually we are required to choose between instant and delayed gratification, self-control and the pain of discipline or persisting over the ease of distraction. And that’s exactly what delayed gratification is all about. If you want to succeed at something, at some point you will need to find the ability to be disciplined and take action instead of becoming distracted and doing what’s easy. Success in nearly every area of life requires you to ignore doing something easier in favor of doing something harder such as doing the work to make things happen. The good thing with mastering the art of delayed gratification is that you can train yourself by starting small, and making a few small improvements just like the way we tone and build our muscles when we workout and exercise.HMsignature


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