The Hidden Power of Purchase Delay
Abrahams Wallet6 Nov 2019

The Hidden Power of Purchase Delay

Your ability to delay gratification might be one of the most powerful determinants of your success in finance… heck, in all of life.

Don’t believe me? Well, have you ever heard of the marshmallow experiment? Sure you have: some gentlemen at Stanford, back in the late 60s, offered over 600 children a choice. They were sat down at a table and a marshmallow (or similar treat) was placed in front of them. They were told they could eat the marshmallow as soon as the researcher left the room – no problem – OR they could wait 15 minutes and receive a second marshmallow to enjoy. Some kids chomped the treat immediately, others waited and saw a 100% return on their investment.

Why do I care about this experiment? Well, the two gents who were running this experiment followed up on each group over the next several decades and found some fascinating correlations. Those who delayed gratification ended up winning at almost every stage of life in significant ways. They were described by their parents as significantly more competent as adolescents. They had higher SAT scores, faster reaction times in an emergency situation, and were better as adults at controlling their response to alluring temptations.

Avsnitt(345)

HOME: Summer Adventures

HOME: Summer Adventures

Steven Manuel and Mark Parrett talk (on the road, with road noise thrown in for FREE!) talk about children, including having a vision for them, curating your children’s friendships (10:15), the road trip Steven went on with his daughters (14:45), whether it’s safe or not to let your kids go to summer camp (19:45), monitoring your child’s inputs (27:45), and cross-pollination (32:30). Join us on our road trip as we talk about yours!

14 Juli 202141min

MISC: Road Trip Mail Bag

MISC: Road Trip Mail Bag

Mark Parrett and Steven Manuel give listeners a review of their Texas road trip, then dive into a pretty-darn-rare event: the Mail Bag! (7:40) They field questions like “If I have $200K, am I rich?”, “What Bible should be my next Bible?”, “When do my new kids start earning me tax credits?”, “Should I discipline my children when they don’t hear me?” (31:30), and… others.

7 Juli 202147min

HOME: Leaving Poverty for Good

HOME: Leaving Poverty for Good

Mark Parrett, snug at home in Utah, talks to Steven Manuel, who’s driving south on I-55, about leaving poverty. Mark gives some tips about what to DO when you’re ready to put poverty into your rear view mirror (if you will. Ahem). Steven encourages repentance and prattles on about what he’s eating on his road trip.

30 Juni 202151min

HOME: Roger and Linda talk about WORK

HOME: Roger and Linda talk about WORK

Steven Manuel has a conversation with his parents about some basic principles of work, and their stories that illustrate them. How important is working for a father and family leader? Should you do just ANY job, or wait for the PERFECT job? What rights do you have? Does life owe you some opportunities? Sit under the wisdom of the years and learn some truths from Roger and Linda.

23 Juni 20211h

DOUGH: Child Tax Credit Checks

DOUGH: Child Tax Credit Checks

Mark Parrett and Steven Manuel have a very good time discussing child tax credit checks (14:00) but surround that with jawing on wide ranging subjects such as summertime golfing, nonalcoholic beer (4:00), Steven’s BBQ fetish (5:00), the Cincy cicada plague of ’21 (13:00), and Steven’s latest rant about his problems with modern Christianity (32:00).

16 Juni 202146min

DOUGH: The spirit of Poverty

DOUGH: The spirit of Poverty

Today, Steven Manuel talks through how to recognize a spirit of poverty… and how to kiss it goodbye, including what to pray and how to start thinking in Biblical paths of prosperity.

9 Juni 202152min

HOME: Seeking God with Darren Baldwin

HOME: Seeking God with Darren Baldwin

Steven Manuel talks with Darren Baldwin about involving your body in prayer (6:00), using The LORD’s Prayer (11:20), slowing down in Bible reading (13:45), busyness as the enemy of God’s Presence (18:45), repentance as a normal part of relationship with God (31:00), and getting past the fear of man in pursuit of God’s heart (40:00).

2 Juni 202147min

DOUGH: Poverty 2- Scarcity Book Review

DOUGH: Poverty 2- Scarcity Book Review

Steven Manuel and Mark Parrett continue their conversation about poverty (10:30) as Mark reviews the book Scarcity: Why Having Too Little Means So Much, by Eldar Shafir and Sendhil Mullainathan. It describes, with research, how “not having enough” impacts people. It makes us stupid, insecure, impulsive, makes us spend money unnecessarily, etc. Mark tells about a dumb purchase he made at Princeton (38:30), dealings with poor tenants (44:30), hamster-wheel living (49:40), and all the gross things that a poverty spirit produces. Here at Abe’s Wallet… we hate poverty (and love PLANNING, which is one of the antidotes to it)!

26 Maj 20211h

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