Does choosing between instant or delayed gratification have an impact on our finances? Last week, we discussed some definitions and what factors may cause us to lean one way or the other.
This week, we dove deeper into the financial implications of instant versus delayed gratification, and tried to determine how it directly affects our decisions in the areas of loans and investments.
Before we did that, we took a look at the results of the quiz that was written about by Hive Up in Part 1 of this series.
According to the results we received, it would appear that a good number of the respondents came under the balanced category, and that more of us lean towards delayed gratification over instant gratification….but sometimes what we say and we actually do can be very different.
According the he Federal Reserve Bank of New York, total household debt of $13.29 trillion was reported in the second quarter of 2018. That is a lot of debt.
In that context, there are three things to be considered when taking on debt and foregoing investment.
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