Instant gratification is a desire to experience pleasure or fulfillment without any delay or deferment. It also refers to the temptation and tendency to forego more benefits in the future in order to obtain less rewarding immediate benefits.
We all know that the money received today has more purchasing power than the money to be received in the future. In other words, a rupee today represents a greater real purchasing power than a rupee a year after. That is why we need to invest our surplus saving in an instrument that has the potential to beat the inflation in the longer-term so that our future money could retain more real power than today. However, at a subconscious level, we think like - 'A bird in a hand is better than two in the bush'!
The irony of human behaviour is that we want to spend whatever is in hand and if in case something is left then we park in an instrument which does not have a capacity to fight with inflation.
Ideally one should think for their long term goals and how to achieve that by prudent investing and thereafter spending should be done. The need for instant gratification distracts us from long term success.
Unfortunately, missed financial opportunities could only be realized after 2-3 decades when nothing can be done then!
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