Delay Gratification Is the Key to Personal Finance

[moonchild]

If you want to be successful in your personal finance, you'll have to learn the art of delay gratification, it's not hard to do once you've defined your why, it involves sacrificing the now for the later, and making hard choice now to have an easy life later.

If you have personal goals you want to reach, you can suspend every other thing in the now till you achieve your goal, this is the idea behind delay gratifications.

you're willing to let go of the nice shoe, nice furniture for your retirement savings, some even take it to the extreme, by denying themselves physiological comforts to achieve your goals, you can cultivate your will and discipline muscles by trying out easier stuffs like waking up at a particular time or exercising eyc

 

[Etini]

The truth is that most people are so short sighted that they always want to sacrifice the future for today unknown to the them that the future is far more important than now.

I always tell young people that it doesn't make sense to wear all the designers trousers now and be naked tomorrow. They don't want to pay the price to be financially comfortable. There is no single gain in looking rich today. People just have to learn to pay the price and be truly rich.

It is not the things that you desire that you should get now when that money in your hand could be deployed to something that would help shape your financial future positively.