Instant Gratification Vs Delayed Gratification: How to stay financially fit?
Very often, we end up making tradeoffs between instant gratification and delayed gratification. What is Instant Gratification? You pay for a good dress, you can wear it immediately and enjoy whatever benefits it is supposed to bring to you. On the other hand, there are times when we do certain things, the benefits of which are not immediately apparent.
To illustrate this point, in a recent interaction with a set of MBA students from a reputed institute, I asked how many of them had an Iphone. About 30% said they had one. I then put forth this proposition to them: If you were going to buy an iPhone at a price of say, Rs 75,000, consider this alternative. Instead of an iPhone, you buy a cheaper phone at a price of Rs 25,000. The Rs 50,000 that
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