Instant Gratification is Ruining Your Life

In today’s world, instant gratification has become more common, as the many people become less patient when it comes to acquiring things and achieving goals.

It feels like we live in a world where nobody can wait for a reward.

And it’s bad. Like, really bad.

So, what is instant gratification?

And what are the long term of effects of failing to delay your gratification for a better reward in the future?

What is Instant Gratification?

Instant gratification refers to the inability to resist temptation, and succumbing to urges and impulses without recognising any future consequences or opportunity cost.

Okay, this sounds like a bit of a mouthful, so I’ll put it more simply.

Instant gratification is when you choose not to hold out for a greater future reward, and instead take the smaller reward today.

Take investing as an example.

Say you have $100 each month to invest for your future…

• A case of instant gratification would be to not invest the $100, but to spend it on something that brings you a small dose of happiness, like a new pair of shoes.

• A case of delayed gratification would be to invest the $100, so you can build more wealth and retire earlier than your peers.

See the difference?

It’s a case of patience, mixed with discipline.

Instant gratification has become a small crisis in a world where image is everything, and nobody has the discipline to wait for a better reward than the one they’re able to get on day 1.

Negatives of Instant Gratification

Some key negatives of choosing a path of instant gratification include:

Lack of Wealth

If you want to build wealth, there’s one non-negotiable you need to practice…

You need to delay your gratification.

Whether it be:

• Investing into ETFs.

• Buying dividend stocks.

• Buying real estate.

• Starting a business.

One thing you’ve got to understand is that results won’t come overnight, and that it could take years to get results.

In truth, it’s why so few people succeed.

It’s not because you fail. It’s because you quit, because you got impatient, and didn’t give something enough time.

As a result, you can’t build wealth.

Want to build wealth? Preach delayed gratification.

Working Longer

A result of failing to build wealth.

When you lack the ability to delay gratification and build wealth, you’ll be forced to work longer than those who can invest their disposable income, and use their investments to fund an early retirement.

Depending on your spending habits, you could be working:

• 5 years

• 10 years

• 20 years

Longer than someone who is able to delay their gratification and save for their future.

Less Happy in Long Term

A result of having to work longer.

Imagine you’re in your early 50’s and you’ve seen a friend retire because they saved and invested all throughout their life.

Whereas you can’t retire for another 15 years because your spending habits sucked in your 20’s and 30’s, and you spent all your money on designer clothes and sports betting.

That feeling is something I’m actively working to avoid.

So, from me to you, make sure you’re the one retiring early.

Not the one wishing you were.

How to Delay Gratification

Here are some tips I’ve used to help me delay my gratification, and build a life of prosperity, rather than fear and anxiety.

Regularly Think of Your Future

As a 23 year old, I couldn’t care less where I am in a years time.

I care about where I am when I’m…

• 30 years old

• 40 years old

• 50 years old

And I’m constantly thinking about where I might be, and what I can do today, to make sure I’m living a better life in the future.

A big reason why people can’t delay gratification, is because they can’t put their future self first.

Why? Who knows.

But, if you want to remove instant gratification, think about your future.

And when I say future, I don’t mean tomorrow, next week, or even next month.

I’m talking years. Decades if you can.

Use The People Around You

Many people will tell you that you’re the sum of the 5 people you spend the most time with.

As a result, it’s evident that your closest friends have a big influence on your actions.

So, maybe it’s time to ask yourself a brutally honest question…

Are the people around me beneficial to my future or not?

You always have to put yourself first, and if certain people in your circle are stopping you from reaching your goals, maybe it’s time to say goodbye, for the sake of your future.

When it comes to the people around you…

You want engines to drive you forward, not anchors to hold you back.

Build Good Habits

Your habits mould your future, whether they’re good or bad.

Again, it’s always wise to look ahead, and into the future, to see what habits your future self would be grateful for if you started them today.

It doesn’t even have to be for your financial health:

• Social health — going on more dates.

• Physical health — getting a gym membership.

• Mental health — spending more time in nature.

Habits compound.

Once you start a habit, and you see the future rewards (like getting in shape) you want more, in different areas of your life.

I’ve been compounding habits ever since I became an entrepreneur:

• Started running.

• Going on walks.

• Improving nutrition.

• Investing more.

Compounding habits is one of the best things you can do. Give it a go.

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