4 Tips to Teach Kids Delayed Gratification
by Rick Johnson
Today, with the challenges to our economy, it is imperative to teach your children the self-discipline of delayed gratification, particularly economic self-discipline. The ability to wait and save money to purchase whatever we want and need using cash—especially in today’s “gotta-have-it-now,” instant gratification world—will bless your children (and their families) for their entire lives.
The recent economic recession caught many people unaware and has resulted in loss of homes, personal bankruptcy, and even the breakup of families. All because people were over-extended on their credit—they were living beyond their means. Our culture has become so accustomed to using credit to purchase whatever we think we desire, that the idea of delayed gratification (or living within one’s means) is almost laughable.
Certainly it seems outdated and parochial. Yet think about how different your life might be if you were debt free. You’d have much less stress, you would have more flexibility in life, and you’d be able to take advantage of opportunities when they occur (like that special deal on a vacation to a tropical island)—in essence, you’d be free!
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