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golden bubble
Jun 3, 2011

yospos

Leng posted:

This is pretty much key to building good financial habits. There's been loads of research done on how the ability to delay gratification is correlated with success - so good job and keep working on this! The other big thing is realizing quite often that the "I want it" reaction normally isn't well matched with what you truly want/need.

Forcing yourself to have a full nights sleep before making a purchase is a great way to avoid buying stupid poo poo. But those studies aren't as a good as you've heard. Newer research indicates the old marshmallow experiments are way too correlated to make such a broad conclusion. The old cold war research said that the ability to delayed gratification caused higher test scores, better jobs, and better relationships. But the new research indicates that being born into a rich and stable family gives children the ability to delayed gratification, and that the greater success in life correlated with the ability to delay gratification can be mostly accounted for using socio-economic factors.

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