Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

The Power of Delayed Gratification by Fitz Villafuerte

By Lenddo Article Subscribe to RSS | August 16th 2012 | Views:
loading
 
  



How do you save money?

The most common answers are to pay yourself first, create a budget plan and make sure that you spend less than what you earn every month.

Easy enough to do? Not really if you don’t have the proper discipline to follow through with your saving goal.

And if there’s one thing that can really help you get into the right mindset, inspire and motivate you into saving up – I believe it would have to be understanding the power of delayed gratification.

The Marshmallow Test

Back in 1972, a psychologist named Walter Mischel conducted an experiment now famously known as The Stanford Marshmallow Test. He gathered a group of four to six-year olds and placed each of them in an empty room.

He gave each child a marshmallow and told them that if they can wait 15 minutes and not eat the marshmallow, they’d receive another one as reward when he comes back. He then left the room and observed what each child would do.

Some children just ate the marshmallow right away, while others patiently waited until he returned.

More than ten years later, Walter Mischel checked up on the children, who were now college students at that time. He found that those who ate the marshmallows right away suffered from low self-esteem, are prone to envy and gets easily frustrated.

Meanwhile, those who were able to resist the tempation of eating the marshmallow grew up to be self-motivated, and emotionally intelligent individuals who excelled in their academics.

Mischel observed that the children who understood the concept of delayed gratification early on had better and more positive outcomes later in their life.

Delayed Gratification Is More Than About Money

The marshmallow test proves that patience does indeed, build character. And fortunately, for all of us, it is never too late to change and start believing in the power of delayed gratification.

The next time you get tempted into buying something you don’t need – resist the impulse. Every time you see extra cash in your wallet – save it instead of spending them. And when our dreams seem to be so far from reach – just be patient and focus on moving forward day by day.

Always remember that in delaying gratification and by understanding the power that it brings. You are not just saving money for your future – but you are also making yourself better in character; you are not just setting yourself up for financial wealth, but for a successful and happy life.

——–

Fitz Villafuerte is the author behind Ready to be Rich, a renowned personal finance blog in the Philippines, and a speaker at one of Lenddo’s previous meet-ups. This is his first guest post on Lenddo.com.

——–

Lenddo Article - About Author:

Lenddo is the world's first credit scoring service that uses your online social network to assess credit and provide quick cash loans and business loan philippines.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/business-articles/the-power-of-delayed-gratification-by-fitz-villafuerte.htm

Related Business Articles Subscribe to RSS

Efficient ship management - the biggest need of shipping business
Published by Saurabh Pandey on December 3rd 2011 | Business
If you are the owner of a ship then you might be looking for someone who can manage it so that you g...
 
Air-n-water.com coupon Codes are a great technique to save you money when shopping online
Published by Gayathri SnehaDevi on March 28th 2012 | Business
Online shopping companies that offer good varieties of Air-n-water.com coupon codes can be the perfe...
 
Paydaymax.com coupons save the customer money by offering a discount of a given percentage
Published by Maha Devi on May 17th 2012 | Business
The internet has made it possible for us to purchase a wide variety of products online. Through inte...
 
Car repairs save your money and time
Published by Glyn Jones on July 7th 2012 | Business
Making the decision to go visit a mechanic for much needed car repairs can be particularly difficult...
 
Adonit.net coupons provide you tremendous opportunities to save your money
Published by Gayathri ValliDevi on April 12th 2012 | Business
It Adonit.netly is about saving money, not only from the Adonit.net coupon code, but from your time ...
 
Yogadownload.com coupon codes are a cost efficient way of increasing sales with minimal loss of money
Published by Gayathri LilliDevi on April 25th 2012 | Business
Yogadownload.com coupon code associate publishers must clearly detail the Yogadownload.com coupon of...
 
Online Vincentstrangiostore.com coupons are a great way to saving lots of money
Published by Jaya Honey on December 1st 2011 | Business
Online Vincentstrangiostore.com coupons are a great way to saving lots of money on everyday products...
 
Earn money through PTC Sites
Published by Ashish Pandey on February 14th 2012 | Business
It is very important that in order to generate more money through online market, you should also kno...
 
Save your money on Plastic Crate, Plastic Totes and Plastic Tanks Online
Published by Rich Mond on July 23rd 2012 | Business
Online manufacturers, producers and suppliers update the latest collection of plastic crate, plastic...
 
Strata management solution and benefits
Published by Chris Whelan on February 29th 2012 | Business
Previously people didn’t face such difficulties during dividing their property or acquiring their ...
 
A win-win situation for both an organisation as well as debt management companies by hiring a debt collector agency.
Published by Gabi William on March 27th 2012 | Business
We do all the hard work for you and approach each case very seriously - no matter what the size....
 
Clip the available Cigarrest.Com coupons out and use them to save huge money
Published by Sai Manohar on February 12th 2012 | Business
Partly it was due to wanting to cut back and find ways to save. Our household items bill had really ...
 
Effective way to save money with Statefarm.com coupons
Published by Gayathri Devi on February 24th 2012 | Business
You have been confident in this respect and take advantage of the Statefarm.com discount codes to av...
 
 
Quick money generation with online direct sales opportunities
Published by Rave Stuart on December 4th 2011 | Business
Your income from job might not be sufficient enough to fulfill all your needs and you might need som...
 
Using Luxuryperfume coupon codes is a great technique to save money while shopping
Published by Gayathri NeerajaDevi on March 30th 2012 | Business
Online retailers hand out Luxuryperfume coupons via partner programs. While individuals visit your c...
 
How to find the best radar detector for the money that you can spend
Published by Godwin on May 23rd 2012 | Business
It is quite difficult to find the best radar detector for the money that you have available....
 
Inklink as a money-saving option
Published by Alberta Reid on March 12th 2012 | Business
Printers are devices that are commonly seen to be used by both individual users as well as in office...
 
Spend analytics and Supplier relationship management at times of uncertainties
Published by Glenn Farrier on March 7th 2012 | Business
With globalization, businesses are spreading their presence all across the globe. This also brings w...
 
Strategic management of physicians’ day-to-day operational issues
Published by Jacob Thomas on November 29th 2011 | Business
Unlike physician practices of yesteryears, physician practices today have found themselves surrounde...