BY: Liam R. Davis
The concept of human life is a perplexing phenomenon that many individuals are unable to fully grasp due to its' many intricacies. We are plagued with a multitude of barriers which hinder our progression towards stellar achievement and outstanding resourcefulness. Based on perception, gratification and its' pursuit may be deemed a barrier by individuals who allow it to have such an impact of their lives. Gratification is defined by the Webster's dictionary as, "The act of gratifying; the state of being gratified".
We all enjoy the first bite of an expensive succulent filet mignon or a T-bone steak. However, there is a cost that is attached to the sheer enjoyment of fulfilling our desire for delectable items. The cost of an item is relative to an individual's standard of living which is contingent on one's level of income. The variance in income determines how big of a sacrifice purchasing the things you desire truly are. In addition, your level of income should also dictate your level of discipline relative to the pursuit of the two variations of gratification. Instant and delayed gratification are important concepts to grasp as a result of the bearing which they can have on one's life. Instant gratification is defined as, "The preference of selecting short term desires in place of long term goals and achievements". While delayed gratification refers to the skill of placing preference on long term goals and achievements instead of short term desires.
Although we have many examples of various icons and moguls who have fallen victim to living beyond their means and practicing instant gratification, we still fall victim to this apparent curse. Individuals who are unable to wisely allocate some portion of their income are often unable to meet their financial requirements such as various forms of billing. Those who are compensated on a Friday and have spent their entire paycheck before Monday before allocating anything towards saving or basic human requirements practice instant gratification. Experts say that human kind is wired to simply want things. We have fallen victim to a materialistic mindset governing our very existence.
There are advantages and disadvantages to both forms of gratification. Instant gratification enables one to achieve a temporary state of happiness as a result of fulfilling a desire. However, the consequence of making a rash decision is often more impactful and lasting that the simple joy of fulfillment. Delayed gratification may be seen as a struggle; however one is often able to well afford the many luxuries which were once deemed to the out of reach due to financial standing. The wonders of compounding interest and fixed rate investments can elevate one to a higher social class and enable one to secure a better life for your loved ones. Instant gratification has been made easier due to technological advancements which have granted individuals direct access to their bank accounts in the form of debit and credit cards. Those who can resist the temptation and practice delayed gratification will surely reap boundless rewards.
Articles to Read
Add text
ReplyDeleteinstant and delayed gratification do have alot of up and down sides to them both. Personally i try to weigh each individual case out to determine which one i will use although the difficulty in making that decision varies up situation. I also liked the video of the kids waiting to get the second marshmallow. A very simple way to test instant and delayed gratification. i anticipated more kids eating the marshmallow and not waiting for the second one.
ReplyDeleteAs we preciously descussed before delayed gratification is the best route to take. not only is there more to gain out of it, practicing delayed gratification shows patience and the will to say "I do not need it all now
ReplyDeleteInstant gratification in general turns out to be more harmful than helpful. This can be seen through people who come up on a large sum of money whether it is through the lottery, a hit single for a musician, or a brand new contract for a professional athlete. More often then not, these particular people are more flashy with their money and have little to no financial literacy and end up blowing through all of their money in a relatively short amount of time.
ReplyDeleteDelayed gratification causes you to endure more of a "struggle" but people who experience this struggle develop more of an appreciation that they receive as a result of this struggle. They tend to be smarter with their money because they do not want to go back to their previous state of having little to no money.
Liam, great job on elaborating on instant and delayed gratification. I think we live in a culture that constantly exposes us to opportunities of instant gratification and what is perceived to be satisfying, but exist only in the moment. It's an epidemic that I believe will be the downfall of our generation. We are quick to make impulsive decisions that satisfy us in the moment, but will have consequences long term and as soon as the next day. An applicable example would be refund checks that college students get after all their financial requirements from the university/college have been satisfied. A majority of the time, these refund checks compromise solely of loans that the student has taken out from their loan provider. These students take out more than is necessary for tuition for purposes such as clothing, entertainment and miscellaneous expenses unrelated to school. Yes, the funds from these checks are great in the moment because of the ability to make trips to the mall and purchase clothes or spend it on a spring break trip, but there are long-term consequences. This is money that has to be payed back to the government or loan provider upon graduating. If one does not have a job with an income sufficient enough to make monthly payments on the borrowed money, then they are in trouble. Even if they have an sufficient incom, there lifestyle will be restricted as they can't splurge on clothes, traveling and having fun because they practiced instant gratification instead of delayed gratification. Delayed gratification needs to be instilled in our culture. It's difficult when our culture glorifies instant gratification, but practicing delayed gratification is what needs to be glorified and internalized by individuals within our generation. When I see someone driving a nice car or wearing designer clothes, what comes to mind for me is how can they afford this and how much debt they are in. From experience and having conversations with people who are perceived to have money through materialistic lifestyles, a majority of times they cannot afford it and are not happy because of the restrictions from maintaining these lifestyles they cannot afford.
ReplyDelete