Delayed Gratification The Sacrifices We Make For Real Success

Delayed Gratification The Sacrifices We Make For Real Success

Delayed Gratification this is no doubt the area a lot of young (and old) investors struggle with. If you have never across the term delayed gratification it’s not a buzz word that floats around it is more a feeling or sense we get. You would have experienced it at one stage or another and it’s not too difficult to relate to what it is as most of us are guilty of ignoring it in some aspect of our lives. Delayed gratification is exactly what it sounds like delaying short-term enjoyment for longer term growth and to enjoy the things we like later on in life.

Delayed Gratification The Biggest Challenge of Young Entrepreneurs

There are so many areas of our life that we can apply delayed gratification have you ever skipped takeaways to get that healthier body?  That’s delayed gratification. Ever decided to take the bus to work instead of buying a car so you can save more money? That’s delayed gratification. How  about finished work and spent your evening looking at properties online to go and spend your weekend at open homes looking for the diamond in the rough to grow your portfolio? You guessed it that’s delayed gratification.
Many of us in our younger years really struggle with this concept however. We may have it tied in at some level of our life whether it be fitness, financial, spiritual or relationships but often we will thrive in one area to sacrifice in another. Seeing our friends on contiki’s, buying new cars, the newest technology or going on lavish holidays is difficult. Too many of us go from university or getting a trade and living on 2 minute noodles in shared living and then transition into increasingly higher paying jobs leading to more disposable income. This income is obviously great after all the sacrifices you have made it’s time to enjoy it right? Well if you have tight purse strings but unfortunately many of us don’t and we leave either to but more likely beyond our means. When we are in the lower earning phase of our lives we think I can’t wait until I have more money to move out on my own, buy this, go and see this etc.
Often by the time we get to this stage we have already mentally spent all of our new earnings and then some but not to worry all I need now is a pay rise that will solve it all! That is until that promotion means you need to dress smarter drive a better car and you decide you need to get a bigger house. As you can see this lack of delayed gratification can hinder our financial growth more money in the business world doesn’t mean your troubles are gone it can actually make it difficult to save and to financially grow. I believe if you have a ‘why’ (we will get to this in another blog) it can give you a solid reason to make sacrifices.
Simple steps like setting your financial goals, making a plan, setting a budget (of both your money and your time you are willing to commit to it) and a reason you want to do it. In the coming months we will have some mindset, money management and of course property experts sharing great tips on tying all this together.Until then share with us some of the areas you struggle and the ones you thrive in for delayed gratification and what is your drivers and tips that make it easier or more manageable.

Comments

  1. says

    The good old delayed income trick, it’s a bad pun, but you’re totally on the money! 🙂

    Couldn’t help myself, sorry! I agree that when the why is big enough, the sacrifices are no big deal, you just deal with them to keep getting where you want to go.

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