Or short-term gratification.
Or immediate gratification.
Whichever you choose, it all means the same.
Whenever I hear those words, I couldn't help myself to think of how common this habit is here in our country. One good example of this that I witnessed firsthand with people is years ago when I used to work in a company. I remember the times when it was a payday, and my officemates would get all excited and pumped up to get off from work.
When it was time to clock out, they would then proceed to withdraw their salary from the ATMs outside and splurge their hard-earned cash either on unnecessary gadgets and stuff, dine at expensive restaurants or party and drink the night away like there's no tomorrow.
Then two or three days later, and they hardly have any money left in their wallets. Thus, the term "One day millionaire" was coined here in our country. If you don't know the meaning of it, it basically means that whenever these type of people received their salaries, they would spend most or all of it in one day as if they're like millionaires who couldn't care less about money.
Ask yourself if you really need it?
I know I know. Sometimes, we all need to relax and chill once in awhile and enjoy the fruits of our labor. Hey I do that too! But the thought of spending it all away with barely any money to survive until the next payday is totally unacceptable in my books.
I mean, have you ever asked yourself if you really need that expensive phone you just bought the other day? Or maybe you just bought that because it's the latest kind and you would look cool among your friends if you have one.
Do you really need all those groceries you just bought? Or you were just mindlessly buying stuff because it empowers you and makes you feel great knowing that you have the power to buy them?
Do you really need to eat at that expensive restaurant even if there's a cheaper one just down the block and they serve good food too?
Be honest with yourself and evaluate whether you can afford to have that kind of lifestyle. Note that it is a good habit to cultivate to live within our means and not above it.
Save it for the rainy days
Instead of wasting your money, why don't you save it in a bank or even better invest it instead, say like in cryptocurrencies (I know, I'm biased). That way, you're putting yourself in a better position to grow your money X amount of times in the future as opposed to spending it on things that you may not even need at all in the first place.
Or if investing is not your thing, at least save it up. Because you never know when an opportunity to make some money might arise (e.g. business opportunity) and you might need some cash to use as capital. When it comes to money, it is always a good idea to think long-term. Adopt the mindset that money is just a resource. And just like any other resource, if you don't grow and nurture it, it will eventually get depleted.
Do you have trouble controlling yourself with feelings of instant gratification? If not, do you have any tips you can share with us?
I would love to hear from you. Please leave a comment below.
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All images courtesy of Pixabay