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Delay Stratification In Financial Management

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Imagine yourself holding the pot of money tree with a thousand to spend. You go to a mall and find the latest cellphone model in the market. Will you be one of those who will buy the phone at that very moment? Or a you the type of person who would ask about the phone and think about on spending your money at a later time? Do you ask yourself if you really need it? Being successful in your financial management also requires a discipline. In this lesson, you will learn about delayed gratification, how it can benefit to your financial success and how you can develop this trait. You might wonder why all of a sudden you are hearing about delayed gratification and not any financial term. Both moneyinstructor.com and startofhappiness.com claim that delayed gratification is a personal trait. Delayed gratification is a personal trait to reward oneself in a later time for something bigger to come. The classic experiment that you can think of about delayed …show more content…

You learned that your credit cards, debt, loans all play a big part on your credit history. Practicing delayed gratification can help improve your scores. Do you still remember opening only the accounts that you need in order to get a good credit score? Do you still remember only using your cash advances only if needed? Do you still remember not to use up all of your credits? Those are actually signs of practicing delayed gratification. Studying and choosing the best investment before you put all of your money is also delayed gratification. Delayed gratification lets you get the best rates on loans simply because you have a good credit score. Investing and saving are all forms of delayed gratification. Instead of buying things that you seem you like, you spend it wisely in order to get a huge amount of income. These are all just a few benefits that you can get just by having the discipline of not spending

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