Delay Gratification To Succeed
In today’s busy and hurried society, we want everything now. Think about some of the “instant” things we have in life.
On-demand TV programming. 30-minute 30-second meals. Instant messengers. Drive-thru options for just about any store (because who wants to get out of their car for anything?!). The list goes on and on.
We want what we want, and we want it now.
Welcome to America.
But if we were to go through each of our closets, dig under our beds, or browse around our attics, we would find plenty of items that would fall into the category: “I just had to have it.”
Except that you didn’t. You used it or wore it once or twice, and it has collected dust ever since then.
Delaying gratification isn’t just a money principle, but it’s a life principle. Think about it. Which tastes better? Something cooked in the microwave or the crock-pot? Hopefully you said the crock-pot as you pull your frozen pizza from the microwave!
But how do you get a teenager to understand this?
- Lead By Example – Teenagers watch to see if you’re living out what you’re telling them to do. If you always have to have the latest and greatest and never delay gratification, don’t expect your child to do it either. Here’s a good question…are you smoking what you’re selling? (Can he say that!?)
- Just Say No – When your teen comes to you asking for $50 for that new outfit, an advance on their allowance for the new iPod, or wondering if they can sell their younger sister on Craigslist for some extra cash, just say NO! I’m sure they’ll kick and scream and foam at the mouth, but they will also begin to realize having that new item isn’t that important.
- Implement A Waiting Period – You may have heard this before, but anytime you’re making a significant purchase, give yourself a few days to think it through and prevent yourself from buying on impulse. When you leave the store and wait a few days, it will cause you to think clearer and use better judgment. Teach your teen to wait for it.
12 Things Every Teenager Needs To Know About Money (And How To Teach Them) is a community blog experience. This post is only one of the 12 points in the series so to view the other 11, please visit the list of links below. Here are the rest of the articles in the “12 Things Every Teenager Needs To Know About Money (And How To Teach Them)” series:
- Money Doesn’t Grow On Trees @ Bargaineering.com
- Two Words: Compound Interest @ PoorerThanYou.com
- Delay Gratification To Succeed @ GatherLittleByLittle.com
- Living On A Budget Isn’t An Option @ TotalCandor.com
- Credit Cards Will Steal Your Lunch Money @ PTMoney.com
- Should You Earn A College Degree? @ TheDigeratiLife.com
- Spend Money Based On Needs Not Wants @ MoneyNing.com
- There Is More Free Money Than You Realize For College @ FreeFromBroke.com
- Living On Your Own Isn’t Cheap @ Studenomics.com
- Taxes Are A Necessary Evil In Life @ MoneySmartLife.com
- Do What You Love, Love What You Do @ GenXFinance.com
- Don’t Be A Tightwad: Give Generously @ CashMoneyLife.com
This is a guest post from Grant Baldwin, the author of Reality Check, a book about helping students transition into the real world. His new website, BrokePiggy.com, answers questions from teenagers about personal finance, savings, and all things money.
Photo credit: TheTruthAbout…