There’s no better time than now for your kids to start learning about the power of delayed gratification. At this stage of life, time is their most valuable asset.
As Matt wrote in another post, “Delayed gratification is the ability to engage in a less preferable activity now to enjoy a more preferable activity or the benefits of the less preferable activity further down the road.”
One of the most popular examples of this is the marshmallow test.
Researchers gave young children the choice: one marshmallow now… or two marshmallows in 15 minutes.
The results of the study?
Those who demonstrated self-control and delayed gratification by holding out for two marshmallows also displayed better academic and career performance down the road.
Help your children understand the benefits of long-term thinking. One of the simplest ways to do this is to encourage your children to start saving money now… whether it’s in a jar, piggy bank, or savings account.
While the coins and dollar bills may not add up to much, developing a habit of delayed gratification will help them to learn that good things come to those who are willing to wait while others grow impatient.