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(373)

Masculine Worship?

Masculine Worship?

Have you ever heard of a worship album that requires an explicit tag? We think you’re in for a treat today with this conversation between Craig Dockery and Steven Manuel on what it looks like to move ...

30 Okt 201952min

Shame is out to get you

Shame is out to get you

No lie: shame is the number one word that men (and women) are using when they talk honestly with us about their money scene. Some of those people have made huge messes of their financial life, but oth...

23 Okt 201915min

Every Home an Outpost

Every Home an Outpost

This week, Steven brings you his thesis on why your home exists. Think about it: your God-oriented home is, like Abraham himself, looking forward to a city “not made by human hands, whose Designer and...

16 Okt 201923min

Before you go paying down all that debt…

Before you go paying down all that debt…

Could there be a lurking trap in the oft-glamorized world of debt freedom? This week I sat down with Scott Dotson and heard something I’ve never heard before in the personal finance media – that there...

9 Okt 201934min

Sukkot!

Sukkot!

Sukkot is one of the big Jewish holidays that we at Abraham’s Wallet have come to love and value for its impact on our families. It tosses us fathers a veritable softball to smash out of the park: the...

2 Okt 201915min

Have a bias for action

Have a bias for action

In this episode Mark and Steven come at you live from St. Louis and discuss the importance of having a bias for action. A relevant follow up to last week’s talk about the need to move from ignorance t...

25 Sep 201943min

Moving from ignorance, to order, to readiness

Moving from ignorance, to order, to readiness

Many of us are like the fool from the parable of the talents in Matthew 25 – we prefer to bury our financial problems and ignore them instead of confronting reality and creating a plan. In this episod...

18 Sep 201957min

Populärt inom Business & ekonomi

badfluence
framgangspodden
varvet
rss-jossan-nina
rss-svart-marknad
rss-borsens-finest
avanzapodden
uppgang-och-fall
rss-dagen-med-di
lastbilspodden
fill-or-kill
svd-tech-brief
rss-inga-dumma-fragor-om-pengar
24fragor
rss-kort-lang-analyspodden-fran-di
rss-den-nya-ekonomin
kapitalet-en-podd-om-ekonomi
dynastin
borsmorgon
rikatillsammans-om-privatekonomi-rikedom-i-livet