Instant Gratification – Bane for the Future

The future can only be secured when something is done about it right now. There are actions and preparations that should be done which will help the cause of saving the future. This future is not just anyone’s future but your future. If you don’t do something about it today, it could be too late before you even realized it.

Retiring at the age of 65 is not possible anymore for most senior citizens because there are no funds kept during their younger age and if there is an amount saved, that amount is not good enough to support a decade or two of a simple lifestyle.

The culprit of this financial disaster for most people is in their practice of instant gratification. This is a type of behavior wherein the pleasures of life are being sought to be achieved as soon as possible. Instead of investing in the future with a bigger reward, a smaller reward is preferred as long as they can be obtained in an instant. Instead of saving money for retirement, money is spent for material things which provide gratification. This type of gratification will not even be felt for a long time which will prompt those with this behavior to seek for more.

Overcoming Instant Gratification

A clear sign that you have a problem with instant gratification is when you are already 45 years old without any savings in your retirement fund. Another sign is when you have too many things that you though you like but ended up using them only once. If you are in these situations or at least in a situation near to it, you should do something about it real fast.

A well known step to control instant gratification is to create an action plan regarding your finances. Sit down and think of a long term goal such as a good retirement fund or a great stock portfolio. It’s a pretty big task to accomplish but they can only be achieved if something is done about it as soon as possible.

Once the goal has been determined, the small steps should be outlined. The key to a successful action plan is to be as detailed as possible. You have to write down not only the goal but also the timeframe of achieving that goal. With a timeframe, you can monitor your development and create the necessary adjustments to ensure success.

Of course, discipline is needed in controlling your cravings. If you have some trouble in controlling your spending get someone who can help you. A support group or a finance expert should be able to provide you with tips on how to control spending.

Helping Your Kids

Instant gratification should be addressed as early as possible. If the kid grows up with instant gratification constantly being fed to his or her mind, social behavior as well as intelligence could be affected. A kid who only knows instant gratification would do anything (often undesirable) just to get what they want. The concentration level on learning is also affected since there are no clear rewards when a kid studies today.

Aside from setting a good example, you should train your kids to overcome instant gratification as soon as possible. Instead of giving them an allowance just because they need them, let them work for their allowance while adding something extra. Withholding their money and giving it to them after hard work should teach your kids to be more appreciative of money and reaping rewards after being patient.

Instant gratification could easily destroy your future. Be sure to do something about it today and help your kids overcome the same behavior which could jeopardize their future.