Don’t sacrifice your future

Don’t sacrifice your future

Designed by C.

We all want instant gratification or instant pleasure. It makes us feel good and puts us in a good mood. Just like taking a spoonful of ice cream, the first spoon is always the best…instant pleasure. It makes us feel good now but the more we consume it, the worse off we’ll be. If you continue to eat ice cream all the time, you’re likely going to add some pounds on you. Don’t sacrifice your future for today’s pleasures.

Instant pleasures and gratifications can have an impact on your financials. Do you make purchases because you need to or want to? Are you looking to have the latest and greatest? Do you have some craving that requires you to buy and spend your money on?

When I think of instant pleasures and gratifications, I’m thinking of things like buying a new car, going on a glamorous vacation that’s out of your budget, buying the latest mobile phone when yours is just one year old, buying new computers when yours is just fine, buying a bag of chips to fill your snacking crave when you have snacks at home, and so on.

One thing all these have in common is that the pleasure or gratification is temporary. It only last for a short period of time then you start searching for the next pleasure. Like they say, all good things come to an end. That new car you bought is going to be obsolete in one year. The next model is going to be redesigned or have new features. That cell phone will be obsolete with the release of a newer model with faster processing and better screen. That vacation may have been nice but could you have had the same pleasure with a lower budget vacation?

What we are spending on today’s pleasures has a huge impact on our future. If we are spending our money today, it leaves us with less to save or invest now so it can grow for the future.

With an initial investment of $1000, contributing $250 per month for 40 years with 8% return, and a monthly compound frequency can grow tremendously over time. The chart shows over the 40 year timeframe how much you could end up if you put away $250 each month. Instead of sacrificing $250 for a temporary pleasure, why not invest it and in 40 years, you can end up with close to $900,000. As you can see the compounding effect doesn’t take off until year 20 so it does take time but remember it’s for the future.

Total Savings 
5671 ,ooo 
$61 ,ooo 
+ Future Value 
+ Total Contributions

It’s easy to get caught up with enjoying the pleasures right now. Who wouldn’t want to be happy and satisfied since you only live once, right? Remember that every decision you make today has an effect on your future. Look to spend your money on things that provide long term satisfaction rather the temporary ones that make you want to continue spending on it. The decision to spend your money now can sacrifice what it could be in the future. If you are interested in following my journey, email subscribe to get alerts of latest posts or follow me on FacebookInstagram, and Pinterest.

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