Delayed gratification — the ability to resist an immediate reward in favor of a more valuable one later — is the most important skill you can teach your child to set the stage for their financial wellness.Waiting sounds basic, but it’s far from simple to practice.
As a Certified Financial Planner®, I know that many people spend their entire lives struggling to wait — a habit that is at the root of all kinds of financial problems, from impulsive spending and overblown budgets to reaching retirement age with few or no savings.I am not perfect.
Delaying gratification has not come easy for me because of my ADHD, a condition marked by impulsivity and dopamine-seeking. Still, I have slowly but surely gotten better at waiting.
As ADHD and financial problems are linked1, it’s safe to assume that children with ADHD may benefit from practicing the essential skill of waiting.
Read more on additudemag.com