What iPhone 11 tells us about instant gratification
Credit to Author: The Manila Times| Date: Thu, 19 Sep 2019 17:11:50 +0000
It’s that time of the year again. Apple recently came out of the woodwork and announced their newest offering: the iPhone 11. Suddenly, the phone you pined for last year looks boring. Suddenly, the phone you have seems slower than before. Suddenly, your phone sucks. Suddenly, you want the iPhone 11 and you want it now.
Chuck Palahniuk said it best in his widely successful novel Fight Club. “We’re the middle children of history, man. No purpose or place. We have no Great War. No Great Depression. Our Great War’s a spiritual war… our Great Depression is our lives.” And for most Filipinos, they cope by ruining their finances on things they don’t really need.
Case in point: the iPhone 11, the epitome of instant gratification. A year ago, it was the iPhone XS. And the year before that… you get the idea. You probably know someone who used up all their savings or borrowed money just to buy the latest model. And once Apple release a new one next year, expect them to do exactly the same.
And it doesn’t even have to be an iPhone. It could be an Android. It could be a TV. It could be anything a person desires. Some people can control their urges and wait for the right moment to purchase their wants. Others, not so much. And oftentimes, they end up regretting their decision to give up the important things they already had in their hands.
Instant gratification isn’t entirely a bad thing. After all, it is natural for us to seek pleasure in any form. As psychologists explained it, humans usually act up on their “pleasure principle,” or the tendency to seek pleasure and avoid pain. There’s nothing wrong with wanting things.
But of course, balance is always key, and some people just go overboard and let their desires take control of their finances. Psychologist Shahram Heshmat outlined nine compelling reasons why this is the case, and needless to say, what he found was fascinating.
Convenience. No one wants to wait for anything. People are willing to spend money to get any opportunity to have some sort of convenience.
Uncertainty. As we grow older, we foster uncertainty towards other people and our future that we choose to invest in what’s already available.
Age. Younger people tend to be more impulsive and spend more money than older ones who value long-term satisfaction.
Imagination. Some people can’t envision their desired future, making them less motivated to work hard for it and instead choose instant gratification.
Intelligence. Intelligent individuals tend to have a more forward-thinking perspective, making them less susceptible to instant gratification.
Poverty. Most Filipinos are forced to spend on immediate needs that they forget to plan for their future. After all, you can’t plan if you can’t eat.
Impulsiveness. Some of us are just way too impulsive. This trait is sometimes a symptom of mental disorders like addiction and obesity.
Emotions. What we feel affects the way we spend money. Emotional distress can make us more impulsive on buying items that will improve our mood.
Anticipation. We enjoy anticipating for positive things and vise versa, which can lead us to spend money to quickly get pleasure or avoid conflict.
Needless to say, businesses have started to take notice. Smartphone companies were first on the list. Then came app developers, service providers, telcos, etc. Capitalism helped foster the culture of instant gratification we have now by catering to every Filipino’s temporary wants. And it looks like no one’s planning to slow down progress.
So should you not buy an iPhone then? Should you just give up all your possessions and live in a cave? That’s certainly not the message here. By all means, buy the iPhone 11, as long as you have the means. But if you choose to drown in a sea of debt just to get your hands on a tech that will definitely get replaced next year, then you have a problem.
This also applies to all the financial decisions you’re going to make. Maybe you don’t need a brand new car; a used car would suffice. Maybe you don’t need a new house; work on renovating your current home. Nowadays, blessed are those who wait. You don’t need to get everything instantly. Sometimes, it’s better to just wait for it.
Maybe you don’t need the iPhone 11 this instant; just go save your money and build a better future instead. Just a suggestion.
Ricky Publico is a content writer at Moneymax. Save money on car insurance, credit cards, and loans when you compare and apply at www.moneymax.ph! Visit their website to know more.