Comments on: Want to Get Out of Debt? Become A Master at Instant Gratification http://wealthpilgrim.com/2009/10/want-to-get-out-of-debt-become-a-master-at-instant-gratification/ WealthPilgrim.com Tue, 16 Mar 2010 10:03:11 -0800 http://wordpress.org/?v=abc hourly 1 By: Shona http://wealthpilgrim.com/2009/10/want-to-get-out-of-debt-become-a-master-at-instant-gratification/comment-page-1/#comment-3495 Shona Thu, 21 Jan 2010 12:59:56 +0000 http://wealthpilgrim.com/?p=4286#comment-3495 Excellent post. I am also currently on a debt diet, and am reaping the rewards by seeing my outstanding balances shrink substantially. Progress is being documented on my blog which can be accessed at the above url. Keep up the good work! Excellent post. I am also currently on a debt diet, and am reaping the rewards by seeing my outstanding balances shrink substantially. Progress is being documented on my blog which can be accessed at the above url. Keep up the good work!

]]> By: Neal http://wealthpilgrim.com/2009/10/want-to-get-out-of-debt-become-a-master-at-instant-gratification/comment-page-1/#comment-2336 Neal Fri, 16 Oct 2009 15:08:52 +0000 http://wealthpilgrim.com/?p=4286#comment-2336 Ned, Thanks. It's cool for me to see others getting similar lessons. I'm going to take you up on your challenge..... Vegan Mondays anyone? Ned,

Thanks. It’s cool for me to see others getting similar lessons. I’m going to take you up on your challenge…..

Vegan Mondays anyone?

]]> By: Ned http://wealthpilgrim.com/2009/10/want-to-get-out-of-debt-become-a-master-at-instant-gratification/comment-page-1/#comment-2328 Ned Thu, 15 Oct 2009 13:29:52 +0000 http://wealthpilgrim.com/?p=4286#comment-2328 In my religion we fast quite a bit (we are part-time vegans) and I find it to be a great practice of self control. Although I'm not overly religious, I still take part in the fasting for the reasons you mentioned above. It has helped me get out of debt and stay out of debt. Try to be a vegan for a day... In my religion we fast quite a bit (we are part-time vegans) and I find it to be a great practice of self control. Although I’m not overly religious, I still take part in the fasting for the reasons you mentioned above. It has helped me get out of debt and stay out of debt.

Try to be a vegan for a day…

]]> By: Weekly Roundup: Become a Frugal Dad Fan Edition | Frugal Dad http://wealthpilgrim.com/2009/10/want-to-get-out-of-debt-become-a-master-at-instant-gratification/comment-page-1/#comment-2324 Weekly Roundup: Become a Frugal Dad Fan Edition | Frugal Dad Thu, 15 Oct 2009 10:01:59 +0000 http://wealthpilgrim.com/?p=4286#comment-2324 [...] Want to Get Out of Debt? Become A Master at Instant Gratification. Sounds counter-intuitive, doesn’t it?  Read on to find out what Neal means about mastering instant gratification and using it to your advantage. (@Wealth Pilgrim) [...] [...] Want to Get Out of Debt? Become A Master at Instant Gratification. Sounds counter-intuitive, doesn’t it?  Read on to find out what Neal means about mastering instant gratification and using it to your advantage. (@Wealth Pilgrim) [...]

]]> By: Neal Frankle http://wealthpilgrim.com/2009/10/want-to-get-out-of-debt-become-a-master-at-instant-gratification/comment-page-1/#comment-2272 Neal Frankle Thu, 08 Oct 2009 16:49:11 +0000 http://wealthpilgrim.com/?p=4286#comment-2272 Tom.....nice application. Interested to see how this concept plays out in your life. Matt, I like the concept of "stealing your dreams". I may have to borrow that term. Tom…..nice application. Interested to see how this concept plays out in your life.

Matt,

I like the concept of “stealing your dreams”. I may have to borrow that term.

]]> By: Tom http://wealthpilgrim.com/2009/10/want-to-get-out-of-debt-become-a-master-at-instant-gratification/comment-page-1/#comment-2271 Tom Thu, 08 Oct 2009 16:25:23 +0000 http://wealthpilgrim.com/?p=4286#comment-2271 I've spent impulsively all my life. You're right, it's hard for me to avoid because I see holding back as a form of self-denial. I have, however, recently had to avoid many purchases because of the economy and my job situation. It really helps to have the framework you give here of resisting as a gift to myself. I watch the TV show The Biggest Loser. Some of those people are 400+ pounds, but they've decided to turn their lives around and are losing 100s of pounds. I can now see my spending in the context of that: By not indulging, I'm giving myself the gift of good financial health. Thanks Neal! I’ve spent impulsively all my life. You’re right, it’s hard for me to avoid because I see holding back as a form of self-denial.

I have, however, recently had to avoid many purchases because of the economy and my job situation. It really helps to have the framework you give here of resisting as a gift to myself.

I watch the TV show The Biggest Loser. Some of those people are 400+ pounds, but they’ve decided to turn their lives around and are losing 100s of pounds.

I can now see my spending in the context of that: By not indulging, I’m giving myself the gift of good financial health.

Thanks Neal!

]]> By: Matt Kelly http://wealthpilgrim.com/2009/10/want-to-get-out-of-debt-become-a-master-at-instant-gratification/comment-page-1/#comment-2270 Matt Kelly Thu, 08 Oct 2009 16:19:31 +0000 http://wealthpilgrim.com/?p=4286#comment-2270 Excellent post - I base my personal finance class on the philosophy that debt and unconscious spending steals our dreams. I start a new class tonight and I may try to work the idea of a fast into the curriculum. Thanks for the idea. Matt Excellent post – I base my personal finance class on the philosophy that debt and unconscious spending steals our dreams.

I start a new class tonight and I may try to work the idea of a fast into the curriculum. Thanks for the idea.

Matt

]]> By: fwisp.com http://wealthpilgrim.com/2009/10/want-to-get-out-of-debt-become-a-master-at-instant-gratification/comment-page-1/#comment-2269 fwisp.com Thu, 08 Oct 2009 16:00:45 +0000 http://wealthpilgrim.com/?p=4286#comment-2269 <strong>Want to Get Out of Debt? Become A Master at Instant Gratification...</strong> Do you think that in order to save money you have to deny yourself? Nothing could be further from the truth. In fact, the opposite more closely describes how to be successfully frugal. You’ll save more (and make more) money if you become a master at in... Want to Get Out of Debt? Become A Master at Instant Gratification…

Do you think that in order to save money you have to deny yourself? Nothing could be further from the truth. In fact, the opposite more closely describes how to be successfully frugal. You’ll save more (and make more) money if you become a master at in…

]]> By: Neal http://wealthpilgrim.com/2009/10/want-to-get-out-of-debt-become-a-master-at-instant-gratification/comment-page-1/#comment-2267 Neal Thu, 08 Oct 2009 14:00:54 +0000 http://wealthpilgrim.com/?p=4286#comment-2267 Daniel.....nice! I never even thought of the instant payoff of not getting played and (even better) sticking it to the man! I can't think of a better feeling than that.... You father must be very proud of you for the way you consciously handle yourself around money. Keep it up Pilgrim! Daniel…..nice!

I never even thought of the instant payoff of not getting played and (even better) sticking it to the man! I can’t think of a better feeling than that….

You father must be very proud of you for the way you consciously handle yourself around money.

Keep it up Pilgrim!

]]> By: Daniel @ Sweating The Big Stuff http://wealthpilgrim.com/2009/10/want-to-get-out-of-debt-become-a-master-at-instant-gratification/comment-page-1/#comment-2265 Daniel @ Sweating The Big Stuff Thu, 08 Oct 2009 11:52:16 +0000 http://wealthpilgrim.com/?p=4286#comment-2265 I can realy relate to this post. Who would have thought that Yom Kippur and personal finance are the least bit related? I have read about people in credit card debt, people make purchases in order to feel better and people who buy stuff even though they can't afford it. That type of thinking is really hard for me to understand. It seems obvious: if you don't have the money, what are you thinking?? I think I am able to put off making decisions, which really helps avoid impulse buys. Especially with big decisions. I spent months scouting out computers before I decided on the laptop I wanted, then waited a few weeks for a coupon that greatly reduced the price. I think that the instant gratification for me is knowing that I didn't get played. I call up AT&T all the time in order to negotiate a better deal, often telling them that I want to switch carriers. Will I ever do that? 100% no. But the feeling of knowing that I am sticking it to the man is such a wonderful feeling, and knowing that I am paying so little for phone service is fantastic. So while it may take awhile, emotional reward is the main reason I do it. The truth is that I am on a family plan and my portion is 9.99 a month. So when I negotiate, I am really saving my father money. He would never complain about paying for what he thinks is a fixed cost, but for me, the rush of making a smart decision is well worth my time. I can realy relate to this post. Who would have thought that Yom Kippur and personal finance are the least bit related?

I have read about people in credit card debt, people make purchases in order to feel better and people who buy stuff even though they can’t afford it.

That type of thinking is really hard for me to understand. It seems obvious: if you don’t have the money, what are you thinking??

I think I am able to put off making decisions, which really helps avoid impulse buys. Especially with big decisions. I spent months scouting out computers before I decided on the laptop I wanted, then waited a few weeks for a coupon that greatly reduced the price.

I think that the instant gratification for me is knowing that I didn’t get played. I call up AT&T all the time in order to negotiate a better deal, often telling them that I want to switch carriers. Will I ever do that? 100% no. But the feeling of knowing that I am sticking it to the man is such a wonderful feeling, and knowing that I am paying so little for phone service is fantastic. So while it may take awhile, emotional reward is the main reason I do it.

The truth is that I am on a family plan and my portion is 9.99 a month. So when I negotiate, I am really saving my father money. He would never complain about paying for what he thinks is a fixed cost, but for me, the rush of making a smart decision is well worth my time.

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