• Home
  • GET THE BOOK
  • Start Here
  • Blog
  • Free Resources
  • Shop TBM
  • Courses

The Budget Mom

Real Women. Real Life. Real Finance

  • Home
  • Products
    • Live Rich Planner
    • Budget By Paycheck
  • Blog
  • FREE RESOURCES
  • COURSES
  • GET THE BOOK
  • Shop TBM

A life you love on a budget you can afford.

Here on TBM®, I provide you with simple, easy-to-follow solutions to help you budget your money, pay off debt, save more, and crush your financial goals. But more than that, I give you the tools to start doing the things that matter most to you, on a budget that actually works!

Instant Gratification Wish List: Becoming a Patient Spender

July 17, 2019
SAVE MORE

Share906
Pin299
Share
Tweet
Email
1K Shares

The goal with the Instant Gratification Wish List is to turn the “Instant” into “Anticipated.” You will become a patient spender, and your budget will thank you for it.

There’s absolutely no doubt in anyone’s mind that we live in an “instant gratification” society. Everything is at our fingertips just waiting for us to buy it. Movies on demand. Amazon Prime delivery. Fast food on every corner. Cell phones and tablets for continuous entertainment wherever we go. Even I get impatient when videos take more than 3 seconds to load!

In 1989, Queen sang,

I want it all… I want it all… I want it all… And I want it now!Queen

Thirty years later, this sentiment is even more prevalent than ever. Author Paul Roberts, who wrote “The Impulse Society,” states that our entire culture has “elevated immediate gratification to life’s primary goal.” Everyone is enticed by it, and almost everyone gives in to it. “I want it now!” is harming our health, our relationships, our attention spans, and most of all, our budgets.

Immediate (or instant) gratification is giving in to the temptation to have whatever pleasure you want the moment you want it, rather than using logic to plan for it financially, and patience to enjoy the anticipation of it.

Instant gratification is a natural urge. It’s almost instinctive.

Whether it’s

  • Those new shoes that will make you the envy of all the women at the office, or
  • That new SUV that would make driving so much nicer, or
  • Going out with friends instead of studying, or simply
  • Picking up dinner tonight instead of having to cook

Instant gratification promises to make our lives better this minute. Today. Right NOW.

Getting what we want right now does not make our lives better LATER.Click To Tweet
  • Read: I Stopped Trying to Be Perfect and My Budget Thanked Me for It

Delayed Gratification

Delayed gratification, on the other hand, requires maturity, intelligence, coping skills, and self-discipline. It is the conscious choice to look forward, think about the long-term consequences, and make wiser decisions. Delayed gratification is being kind to your future self.

But just knowing that delayed gratification is more rewarding in the long run doesn’t solve our daily struggle with wanting it “now”!

So, when you see that adorable top at your favorite online boutique, or that pizza commercial makes your mouth water, or those new car ads make your old minivan look kinda sad by comparison, how do you keep from giving in to the temptation of instant gratification?

Well, let’s start by making some lists!

Making Instant Gratification Lists

Yes, I’m all about the lists. But they do keep you on track! Let’s look at how three different types of lists can help you cope with the lure of instant gratification.

Shopping Lists

I cannot emphasize enough how important it is to shop with a list. Wish Lists or Need Lists help you avoid impulse shopping, which results in impulse buying!

Having a grocery list is one of the most valuable lists because

  • we spend so much time at the market
  • impulse buys at the grocery are consumable and “affordable,” so it never feels like you’ve wasted money.

It’s so easy to grab something while you’re grocery shopping that isn’t on your list. Maybe you’re hungry or thirsty, perhaps the kids are begging, or maybe you really feel you deserve those Oreos today.

The more you make a habit of “sticking to the list,” the easier it becomes to do so without thinking about it. You can even say to the kids, “Is it on the list? No? We can’t buy it if it’s not on the list!”

And if an impulse item really entices you, that’s okay. After all, you’re human. Be tempted, but do not put the item in your cart yet.

Give yourself permission to come back for it after you’ve shopped for everything else on your list. Chances are before you check out, you will have either forgotten about it or decided it’s not worth going back for.

  • Read: 30+ Ways to Help You Save More Money

Wait Lists

Wait Lists are a very useful tool for delaying gratification when it comes to items you may need or want, but that aren’t factored into your current budget.

I like to keep a “Wait List” in my budget planner specifically for these items. And, I do the same basic thing with my online shopping carts (especially Amazon!).

  • For items in my notebook, I write down all the specific details, including the price. At the end of the 30-day wait, I often decide I don’t need or want some of these items at all. Some I find better deals on. Some even go on sale while I wait. And sometimes an item on the list just keeps calling to me. When that happens, I know it will be a good purchase once I’ve saved the money to buy it.
  • For online items, I put them in my cart, (or move them to “Saved for Later” if possible.) Then I make myself wait 30 days – until the next budget cycle – before purchasing. By doing this, I get all the same results as before,
    In the long run, I’m always glad I waited. I end up not spending money I don’t have on things I don’t need or even really want once the impulse moment has passed.

Instant Gratification Tips:

  • Avoid temptation in the first place by removing the factors before they have a chance to reel you in.
  • Fast forward through the commercials, or at least mute them.
  • Distract yourself instead of watching.
  • Recycle catalogs and sale flyers and remove your name from the mailing lists.
  • Don’t use shopping as a form of entertainment, whether online or at the mall.
  • Don’t click on social media ads.
  • Don’t spend time looking at and lusting over things that aren’t in your budget. If you don’t see it, you won’t buy it.

The Instant Gratification Wish List

The Instant Gratification WISH List is my favorite!

While the Shopping List helps you only buy what you need, and the Wait List enables you to weed out the impulse buys, the Instant Gratification Wish List is a dream list, which makes it fun!

The Wish List – which can be kept in your Budget Binder or on your refrigerator or your Visual Budget Wall Board – is a list of things you WILL be spending money on once you have saved enough!

Anything can be added to your Wish List, from cookies to shoes to phones to vacations to houses! You can make Wish Lists for:

  • Short-term and long-term goals
  • Big items and small items
  • Each person in your household

The goal with the Instant Gratification Wish List is to turn the “Instant” into “Anticipated.”

Being able to SEE your goal, to watch the money in that envelope grow week by week, to plan for how you will use it, helps you appreciate the item and the work it took to acquire it.

  • Read: How to Stay Motivated on Your Financial Journey With a Visual Board

Long-Term Benefits of Instant Gratification Lists

You will learn to become a patient spender and more responsible. Your budget will not be negatively affected, which means your goals will stay on track.

Living on a budget doesn’t mean you always have to feel deprived. In fact, you should cut yourself some slack and enjoy a frivolous purchase once in a while. But practicing delayed gratification will make these treats extra special.

Share906
Pin299
Share
Tweet
Email
1K Shares

Filed Under: Tagged With: SAVE MONEY, SAVING, SAVING GOALS, SAVING TIPS

Previous article:
« The Truth About Student Loan Forgiveness
Next article:
Why I Decided to Buy My First House With Cash »

Comments

  1. Tiffany F says

    July 20, 2019 at 5:35 am

    Thanks for the work you do! I have recently gone back to work and the instant gratification is real. My anticipation for the pay check has my mind in the “I want to buy everything I see” mode. DANGER!! I have had to talk myself right out of the store about 10 times already. I should also mention I work in the financial side of the world and I appreciate how simple you keep the personal budget. Because it really is simple.

  2. Barbara GATES says

    July 27, 2019 at 5:26 am

    I just wish I’d had this information available 20 years ago. I must say though that it’s so much fun at this stage of my life to learn with you and to be a part of this huge wonderful audience of young women who I hope will take this opportunity and change their lives forever.

Hello, I'm Kumiko, but everyone just calls me Miko. Welcome to my blog, The Budget Mom. I am an Accredited Financial Counselor® , and mom to a rambunctious boy. Come along with me as I strive to live a life I love on a budget that I can afford. Read more about me.

RECENT YOUTUBE VIDEO

The Budget Mom

The Budget Mom
It’s time for another Real Life Budget. I asked my readers to submit their REAL information. Real spending, real debt, and real savings goals.

I am taking those real-life numbers and showing you how I would organize and budget that information using my Budget By Paycheck® Method.

If you would like to submit your budget information to possibly be picked for a Real Life Budget that we will show on YouTube, please reach out to budgets@thebudgetmom.com.

Diane is a single mom who is a Database Administrator for an IT Department at a local college. She lives in Queens, NY, and eventually wants to move to a lower-cost of living area in the future. 

Diane submitted her information because she is struggling to organize and tackle all of her larger short-term goals.

CHAPTERS:
00:00 Introduction
02:15 Why & Personal Story
04:20 Income 
04:37 Fixed Expenses
05:48 Variable Expenses
06:31 Debt
07:53 Savings Goals
10:18 Budget By Paycheck Method
14:51 My Recommendations

➡️ HOW I TRACK MY SPENDING: https://bit.ly/3aIe89I
➡️ HOW TO USE A BUDGET CALENDAR: https://bit.ly/2IzF2Vj
➡️ FINDING YOUR WHY: https://bit.ly/3aJUryj
➡️ THE BUDGET MOM'S FINANCIAL FREEDOM STEPS: https://bit.ly/3cfJXsp
➡️ HOW TO GET STARTED WITH THE CASH ENVELOPE METHOD: https://bit.ly/2vQJaO5
➡️ HOW TO CREATE A PLAN OF ATTACK TO PAY OFF DEBT: https://bit.ly/2wDETxF

ABOUT ME

Kumiko Love is a single mom who empowers women everywhere to regain control of their financial lives. An Accredited Financial Counselor with over nine years of experience in the finance industry, she founded The Budget Mom, a community of millions of women on a path to financial fulfillment.

She's also the creator of the wildly popular Live Rich Planner® and Budget by Paycheck® Workbook. Love has been featured on Good Morning America, the Today show, CNN, CBS, ABC and in USA Today, US News, World Report, Huffington Post, Money Magazine, Parents Magazine, the Washington Post, and Real Simple. She lives in Spokane Valley, Washington.

YOU CAN FIND ME AT:

📝 WEBSITE: https://www.thebudgetmom.com
📘 FACEBOOK: https://www.facebook.com/thebudgetmom/
📸 INSTAGRAM: https://www.instagram.com/thebudgetmom/
📌 PINTEREST: https://www.pinterest.com/thebudgetmom/

GET STARTED

➡️Start Here: https://www.thebudgetmom.com/start-here/
➡️Courses: https://courses.thebudgetmom.com/
➡️Free Resources: https://bit.ly/2PDmTHz
➡️GET 10% OFF my popular Budget-by-Paycheck Workbook - Coupon Code TBMYOUTUBE https://bit.ly/3FEdZFp

Soundstripe License Code: LBWMAQPEPWYVFKT3
Load More... Subscribe
Free Resource Library

Recent Posts

  • To Pay Off Debt or Not to Pay Off Debt: The Pros and Cons of Using Home Equity
  • The Secret to Personal Finance I Never Learned About in Business School
  • Don’t Overpay for TV and Internet: How to Shop Around for the Best Deals
  • 4 Simple Tricks to Stick to Your Grocery Budget
  • Celebrate Without Breaking the Bank: How to Save for Special Events

Blog Categories

Amazon Associates Disclosure

The Budget Mom, LLC is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.com.

  • Cart
  • Shop Policies

Start With My Friday Newsletter

Every Friday I send you a short helpful email with my popular Friday freebie. Join my 500k+ subscribers!

About

  • Home
  • ABOUT TBM
  • Contact
  • Start Here

Important

  • DISCLAIMER
  • PRIVACY POLICY
  • Subscribe

Favorites

  • YouTube
  • Blog
  • Live Rich Planner
  • Budget by Paycheck

Start With My Friday Newsletter

Copyright ©2023, The Budget Mom®
This website contains affiliate links, which means that if you click on a product link, I may receive a commission. This website is a participant in the amazon services llc associates program, an affiliate advertising program where I earn advertising fees by linking to amazon.com.
  • How financially fulfilled are you? Take this 2 minute quiz to get your score!
    Click Here to Start