What gives? Instant gratification or future cosy retirement?

[Throttle]

I'll just go ahead and pull the topic back.

 

it's been proven in a study that people who are able to delay gratification are more "successful" than those who don't. depending on what your term of sucessful is.

 

there was an experiment conducted 20 years or so ago between 2 very young kids. Peter and Jane. both were given a lollipop each and told that if they could keep the lolly by the end of the session, they could have another one extra. Peter didnt, jane did. fast forward 20 years later, Jane is working as a lawyer or something but Peter survives day to day as a waiter or something.

 

of course how accurate the experiment is, we don't know. but delaying gratification is always good to do, but not easy.

 

that braun buffel wallet, that gucci bag, that prada shoe. even that expensive meal in a 5 star restaurant. in the heat of the moment you think its a small sum. but small sums add up.

 

yes, second that

i have been brought up base on those values.

first bitter then sweet.

 

this doesnt mean that one cant enjoy life.

it just means that one will not cause a crisis on oneself and others.

over good time, even when one can easily afford those material things, one may not buy them as other things would matter more. becos gratification achieved through directly spending money doesnt last.

for that matter happiness bought using money does not last

 

i think everybody understands this but all it takes is some clown to twist those words.

[Throttle]

xrated Clown always hiding behind others spotted.

 

lame

[xXxRatedxXx]

xrated Clown always hiding behind others spotted.

 

lame

 

You know then good.... so things are cool now........... right?

[Forgestryker]

cool bros cool...there are other more important things in life to focus on and take care of rather than getting angry with each other.

 

I also have been guilty on gratification at times. Maybe spend some good money at Dockers or treat myself to a foot massage package. At least i am quite fortunate to think that i am aware of that so can at least minimise the times. But still, we should pamper ourselves or get what is good once in awhile. Like a good wallet would last you maybe 10 years? My braun buffel is lasting me about 5 already and its still almost good as new. Of course if you everything LV or braun buffel than that's quite spendthrift. But if it is a needy thing, why not? If you take care of it, it will last and the money is worth it.

 

I guess balance it needed. Save money, be thrifty. But treat yourself and especially your loved ones and friends well. Buy your wife or gf a nice expensive gift once in awhile, buy her normal stuff most of the time, but your parents somethings, treat your friends to a meal or kopi. (but that being said, i still think i instant grati myself once too often haha! i guess need to self-control abit more )

[bukitmerah]

Wah you must really have something against the guy ahaha, why care how rich the person is unless he's gonna :

 

1)Teach you his tricks for free

2)Give you money

3)Give you a solid diamond rice bowl

 

100% right! how rich he is is none of my business unless he is going to give me some $$$.

 

 

I'll just go ahead and pull the topic back.

 

it's been proven in a study that people who are able to delay gratification are more "successful" than those who don't. depending on what your term of sucessful is.

 

there was an experiment conducted 20 years or so ago between 2 very young kids. Peter and Jane. both were given a lollipop each and told that if they could keep the lolly by the end of the session, they could have another one extra. Peter didnt, jane did. fast forward 20 years later, Jane is working as a lawyer or something but Peter survives day to day as a waiter or something.

 

of course how accurate the experiment is, we don't know. but delaying gratification is always good to do, but not easy.

 

that braun buffel wallet, that gucci bag, that prada shoe. even that expensive meal in a 5 star restaurant. in the heat of the moment you think its a small sum. but small sums add up.

 

i can delay "material" gratifications very well, but my inability to delay sex gratification always lets me down even worse, i can't seem to get away with it like james bond. no wonder i am not successful yet.

 

yes, second that

i have been brought up base on those values.

first bitter then sweet.

 

this doesnt mean that one cant enjoy life.

it just means that one will not cause a crisis on oneself and others.

over good time, even when one can easily afford those material things, one may not buy them as other things would matter more. becos gratification achieved through directly spending money doesnt last.

for that matter happiness bought using money does not last

 

i think everybody understands this but all it takes is some clown to twist those words.

 

100% agree with those values but those values seem "antique" to modern "money slaves" with easy credit / loans. Further more it is more "trendy" to get the latest iPhone / iPad / car / house / "toys" even when you are not that exactly financially "comfortable" to afford it...

Edited August 6, 2011 by bukitmerah

[CSV]

you're not the only one with problems delaying gratification with sex. lol.

 

key thing it comes down to is discipline and long term view. sadly i myself also not that good in delaying gratification that well.

 

a good tip for fellow bikers on delaying gratification is to give yourself 1 week grace period after feeling the urge to buy, the urge might die down after that 1 week or so.

[Fried Rice]

you're not the only one with problems delaying gratification with sex. lol.

 

key thing it comes down to is discipline and long term view. sadly i myself also not that good in delaying gratification that well.

 

a good tip for fellow bikers on delaying gratification is to give yourself 1 week grace period after feeling the urge to buy, the urge might die down after that 1 week or so.

 

i follow that tip myself.. sometimes i wanna buy stuff i will delay it for a period of time then after some time i don't feel like buying already.. its like giving myself more time to think it over carefully

[Throttle]

when one is married with chidren, things are different.

you wont spend so much on yourself but rather reserve for your loved ones.

and you will spent more sensibly.

gratification comes in forms which are less materialistic

 

 

but most of you here are young, inexperienced and have time in hands

so while you enjoy that process, dont forget to learn and pick up life skills.

[xXxRatedxXx]

when one is married with chidren, things are different.

you wont spend so much on yourself but rather reserve for your loved ones.

and you will spent more sensibly.

gratification comes in forms which are less materialistic

 

 

but most of you here are young, inexperienced and have time in hands

so while you enjoy that process, dont forget to learn and pick up life skills.

 

http://poopinmyhair.files.wordpress.com/2011/04/picture-30.png

[cougar]

yes, second that

i have been brought up base on those values.

first bitter then sweet.

 

this doesnt mean that one cant enjoy life.

it just means that one will not cause a crisis on oneself and others.

over good time, even when one can easily afford those material things, one may not buy them as other things would matter more. becos gratification achieved through directly spending money doesnt last.

for that matter happiness bought using money does not last

 

i think everybody understands this but all it takes is some clown to twist those words.

 

you just highlighted something, all these would not be possible without financing, bankers nowadays have no social responsibility

. anybody can get loans so easily now, even without guarantor! did something change in the loan industry i am not aware of?

and the aggressive advertising of easy loans, instant cash even at the mrts, post office is astounding. the people are slowly being brainwashed into living on credit for life!

 

it is no wonder ah longs money lending is illegal because they are reckless in their loans, but now legalized lenders are also just as bad. That clown is the bankers.

 

Knowing that Peter in the experiment lack self control, and because of his lowly wages,

yet the bank still induce him into easy loans advertising all over the place.

Jane would probably have better self control and would know how to source financing herself.

 

This easy loan thing impacts on inflation, the buyers not all can sustain those prices on their own. that's why genuine buyers are suffering loses from this elaborate scheme of greed.

Edited August 7, 2011 by cougar

[Throttle]

you just highlighted something, all these would not be possible without financing, bankers nowadays have no social responsibility

. anybody can get loans so easily now, even without guarantor! did something change in the loan industry i am not aware of?

and the aggressive advertising of easy loans, instant cash even at the mrts, post office is astounding. the people are slowly being brainwashed into living on credit for life!

 

it is no wonder ah longs money lending is illegal because they are reckless in their loans, but now legalized lenders are also just as bad.

 

i wouldnt put the blame on the banks.

yes except perhaps preying on the weakminded

but if you dont borrow, no one can force you to.

that is the bottomline

[Throttle]

singapore is financially strong becos it doesnt borrow heavily.

US is the opposite example.

 

as. human being, we decide which we want to be and then bear the consequences, thats all

[Throttle]

xrated,

 

it dawn upon me that what you need is a boyfriend.

 

now that i've solved your problem, run along girl.

[xXxRatedxXx]

xrated,

 

it dawn upon me that what you need is a boyfriend.

 

now that i've solved your problem, run along girl.

 

u angry bro?

[CSV]

it is still up to the individual to take that loan or not.

 

self control.

 

similarly, we can't blame macdonalds for making us fat when we eat the fast food. we have a choice to ignore/ choose to eat something else.

[xiaoviper]

similarly, we can't blame macdonalds for making us fat when we eat the fast food. we have a choice to ignore/ choose to eat something else.

ups. Its true though. But frankly, to be able to buy without taking loans for big items is = to hardwork or future planning.

 

Say, I wanna get a bike brand new in 5 years. I take the current pricing, maybe abit more here and there for allowance, then I plan my savings plan over the next 5 years to able to buy it without loan. Thats like setting a goal right?

 

Another thing, if say I want instant gratification, I want that bike now so badly... I'll go work, find ways to get money, asap, just to get that. Then again, sometimes people can't control the urge, its always (NOW) and thats where loans come in. They just can't wait that few more months, or push themselves to work harder to get that amount.

But its good mentality to not be wanting to owe, in other words, self reliant. (not really but thereabout)

 

You get what you work for, and feel good about it. IMO, Paying off w/o a loan feels better than paying off a loan.

[Jehuty]

ups. Its true though. But frankly, to be able to buy without taking loans for big items is = to hardwork or future planning.

 

Say, I wanna get a bike brand new in 5 years. I take the current pricing, maybe abit more here and there for allowance, then I plan my savings plan over the next 5 years to able to buy it without loan. Thats like setting a goal right?

 

Another thing, if say I want instant gratification, I want that bike now so badly... I'll go work, find ways to get money, asap, just to get that. Then again, sometimes people can't control the urge, its always (NOW) and thats where loans come in. They just can't wait that few more months, or push themselves to work harder to get that amount.

But its good mentality to not be wanting to owe, in other words, self reliant. (not really but thereabout)

 

You get what you work for, and feel good about it. IMO, Paying off w/o a loan feels better than paying off a loan.

 

If I can, I try to buy it full cash, if I can't but I want it now or at least soon, I do damage control. Higher downpayment, maybe shorten the installment to 2 years? Rather than 5 years or more. In some cases, its bopian, for example, school.

[Icomeforyou]

But then again, another consideration is waiting may be good for most of the wants, but the needs?

 

Imagine buying a house (initial topic), put it down as 300k (ball park), does one really want to wait and save up, 20-25 (optimistically) years in order to fully pay a flat? I mean from a working class point of view. So by the time i own my own house, I'm 44-49? In this case, personally i guess a loan might be a better option for balance between 'instant' gratification and long term.

 

A bit side track, would one consider paying higher taxes (that includes GST, to say bout 10-15%) in exchange for heavily/fully subsidized healthcare? I know I would, the biggest thing that still scares me in SG today (Besides the rising cost of living) is cost of health care.

[Throttle]

Just remember that there is a price to pay.

With the mkt going south this way, there may be some serious price to pay soon for some folks.

[Throttle]

Just remember that there is a price to pay.

With the mkt going south this way, there may be some serious price to pay soon for some folks.

[Forgestryker]

in what sense? you mean unable to pay loans and such?

[Wormwood]

If you think you need something urgently but don't have enough money for it, it's not the end of the world. There might still be the option of getting it as cheaply as possible and thus avoiding loans (or reducing loan amounts), or accepting an alternative that might not be ideal but still does the job.

 

When I paid for my bike in cash, my income was really quite low. I had to give up the idea of getting the bike I initially wanted, and any of the newer models were out of the question. Being not exactly rich, I didn't want to be made even poorer by having to pay interest. So I scrimped and saved and managed to get a 12 year old bike at a good price that miraculously has been working quite well. Though it was painful to hand over the cash all at once, I'm really glad I'm not still paying for it today.

Edited August 8, 2011 by Wormwood

[kzone]

loan is good leh.. especially when interest rates are low.. it allows u to buy at current price with just a portion of the selling price(downpayment). Imagine if u were to save for a 300K 4rm flat for 20yrs, do u think the price of the 4rm will still be 300K in yr 2031?

Or do you think the price of cars will be the same/lower in 7 yrs?

[kzone]

sorry, double post.

 

p/s : can we delete our own post? If no, why not?

[Throttle]

loan is good leh.. especially when interest rates are low.. it allows u to buy at current price with just a portion of the selling price(downpayment). Imagine if u were to save for a 300K 4rm flat for 20yrs, do u think the price of the 4rm will still be 300K in yr 2031?

Or do you think the price of cars will be the same/lower in 7 yrs?

 

i believe you are missing the point as with a few other folks here.

 

nobody is professing to buy a property without a loan.

 

the issue is about not biting more than you think you can chew.

 

ask yourself what deep **** you and your family would be in if your income were to benhalved.

if your answer is, live life as it is now, then i congratulate you.

dont fall into the abyss of rolling debt (like America)

 

dont slap yourself swollen because you are trying to be fat.

thats all.