Examples Of Delayed Gratification

Another strategy that paying now and enjoying later capitalizes on the theory of delayed gratification. Delayed gratification is beneficial when the delayed consumption provides one with the time to develop positive expectations and to enhance the drool factor, increasing the pleasure of actual consumption and lengthening the pleasure beyond a short-lived experience. (Dunn and Norton, 2013, p. 89). Furthermore, delayed gratification increases if one feels that one’s purchase is free as one have already paid upfront. This concept of waiting to increase satisfaction is important to understand if one hopes to find value in purchases especially in today’s fast paced and instant gratification society where happiness is short-lived.

Businesses benefit

Dunn and Norton believe that the three strategies of “Make It a Choice, Make a Connection, and Make an Impact,” (2013, p. 115) will ensure that the greatest happiness is received from helping other as these are the conditions when under which most feel best about investing in others. The best way to receive donations is by giving donors a choice as opposed to making it obligatory. Fundraisers and companies need to manipulate their wording because people are more likely to give when they feel it is their choice. Next, creating a connection might seem cliché but emotional ties are extremely powerful. In a fundraising campaign, finding ways to provide specific context of the cause or even creating a way to connect the donor to the cause will prove to make the fundraiser more successful. Lastly, people want to see that their contribution is actually attributing to change. Therefore, effective campaigns demonstrate how donations affect the cause as well as vividly depict the need for donations in order to invoke compassion in people. The more specific the details on the impact the better, especially concerning large organizations since small donations seem to provide no impact. It is the job of the fundraiser to show how each cent counts while these three tactics make the donations of any size almost tangible. Together, they induce the donor with

I plan to utilize these guidelines in my own life while also impacting this wisdom on my future clients. A major part of a sports agent’s job description is to control the athlete and even more specifically how he manages his money, including spending it. Taking into account all five principles, I will advise my athletes to go on vacations with their families and make lasting memories but at the same time, remind them to make those experiences infrequent enough that they are considered a treat and always enjoyed to the fullest. I will remind them that they work hard so that they can spend money in ways that afford them the opportunities to maximize special time for the important things in life, such as flying out their family for away games. Another reminder will be that these expenses add up and accumulate quickly so make sure to only spend what is in your bank account and pay now versus later. I will instill in them that debt should not be an option for people with seven figure salaries. Lastly, I will encourage that they invest in others, if not for themselves than for the community, as they have the means to do it. Nonetheless, I will make sure that they feel the importance of their impact so that continue to give to those less fortunate. With these suggestions, I will have my