You want 100$ today or 200$ after month?

instant_gratification

If someone ask you that you want 100$ today or 200$ after month. You will defiantly reply 100$ today, very few select 200$ after month.

Well it is not question of 100$ or 200$ when it comes to money 99% people believes in immediate pay off rather than waiting for larger gain at later stage. They are ready to sacrifice long term gain over short term gain. This is called as instant gratification.

Today it is era of Instant gratification let me give you some example:-

  • Buy something fancy and expensive now than something which you can afford.
  • I want Fast food – instant gratification
  • Wonder pill to boost love life instantaneous
  • Overnight Business Success plans that will earn you millions
  • Gaining everything right now

General Argument against it is that –

“Life is short, we work hard and we should enjoy the ‘small things’ now rather than waiting.” But what about additional expenditure or growing debt No one bother about it.

Our uncontrolled desire creates impulsive force for “Immediate gratification” and we intend to find short term answers. Actually many of us have adopted lifestyle of “Eat, drink, and be merry.”

Our mind is driving force behind this. Daniel Kahneman renowned psychologist and winner of the Nobel Prize in Economics mentioned in book “Thinking, Fast and Slow” Two systems that drive the way we think.

System 1 is Fast, Intuitive, and Emotional.

System 2 is Slower, more deliberative, and more logical.

If we study this system we can easily answer that how this two system shape our judgment and decisions.

Starting from the impact of overconfidence on corporate strategies, the difficulties of predicting what will make us happy in the future, the profound effect of cognitive biases on everything from playing the stock market to planning our next vacation.

Remember you can’t obtain long lasting happiness through instant gratification.  It’s short-lived!

Control your mind and strive of delay gratification!

“Delay Gratification is nothing but compounding effect same as that of Investment more you keep more benefit it gives.”

Do share your views on above!

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Article by Raviraj

Raviraj is the man behind moneyexcel.com. He is graduate in finance, engaged in blogging since 6 years. Moneyexcel blog is ranked as one of the Top 10 Personal Finance Blog in India. He is not affiliated with any financial product, service provider, agent or broker. The purpose of this blog is to spread financial awareness and help people in achieving excellence for money. Please note that the views expressed on this Blog/Comments are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment advice or legal opinion.

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