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| Image Credits: pixabay.com (CC0 Public Domain) |
Anticipation of the reward:
"Say you are getting your bonus next week, why not consider treating yourself with the designer lipstick you have been wanting for months?"
The anticipation of purchase, no matter how big or small the item is, can increase pleasure vastly. Savoring positive outcomes through anticipation has been shown to have stronger effects than reminiscing something that you have already acquired.
Delaying the reward:
Try asking yourself:
Delaying the reward:
Try asking yourself:
"What shall I reward myself after I stick to my budget and get my paycheck this month?”
Then, grant what your desires.
Have you heard of the Marshmallow test done by Stanford University?
Delaying your purchase can increase the chances of better decision-making and the chances of creating uncertainty. Decision-making can be influenced by the present bias wherein people act upon the momentarily wants and make immediate choices that are inconsistent over time. This often leads to buyer's remorse and frustration with the purchase. By delaying your purchase, you can make better choices as you envision the item's worth over time.
Delaying purchases also helps create uncertainty. You are unsure on what to get and if you are really going to get it. But, you are motivated nonetheless because of the Zeigarnik effect.
Ultimately, if you can wait…Your anticipation and delaying of the reward, and uncertainty of choices, will fuse together to give you more positive feelings toward spending your money.
Source: Adapted from Anna Agoncillo's Psychology of Love, Money, & Life book (http://www.tusitalabooks.com/ebooks/psychology-of-love-money-life)
Have you heard of the Marshmallow test done by Stanford University?
Delaying your purchase can increase the chances of better decision-making and the chances of creating uncertainty. Decision-making can be influenced by the present bias wherein people act upon the momentarily wants and make immediate choices that are inconsistent over time. This often leads to buyer's remorse and frustration with the purchase. By delaying your purchase, you can make better choices as you envision the item's worth over time.
Delaying purchases also helps create uncertainty. You are unsure on what to get and if you are really going to get it. But, you are motivated nonetheless because of the Zeigarnik effect.
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| Image Credits: pixabay.com (CC0 Public Domain) |
Source: Adapted from Anna Agoncillo's Psychology of Love, Money, & Life book (http://www.tusitalabooks.com/ebooks/psychology-of-love-money-life)
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