A good habit for me will be to save money, invest that money and repeat that process. If I keep doing that I will accumulate wealth for a long period of time as I keep saving, investing, and let the compound interest do its job. Everything takes time so it’s better to start early.
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Studying at Ivan on Tech for 1 hr/night instead of wasting the time gaming, starting last night!
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Spend less time on entertainment and more on education. Learn a new lesson every day.
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Less games, more study (specifically the kind that results in certifications).
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Propose a change you could make to one of your habits, that would reduce your time preference from high (instant gratification) to low (delayed gratification) time preference. It could relate to any aspect of your life (financial, diet, exercise, relationships or education).
A change I could make to one of my habits is to avoid eating (instant gratification) after exercising (low, delayed gratification), A change I could make is to focus on the negative/avoidance. After exercise, I will not focus on cashing out my gains by drinking water.
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Convid19 Pandemic turned my life upside down but it was a wake-up call I will be forever grateful for. I am ashamed to admit that 2020 was the year when seriously analyzed my spending habits and changed my views about money. Unlike many others, I never lost my job. I have been working all this time remotely as a sales account manager for a cybersecurity company. So the money kept flowing, the only difference was that I just stopped spending it due to the lockdown. There was nowhere to go, nothing to do. Lots and lots of free time. So I first discovered Robinhood in March 2020 and started playing with it. Lost a bit, earned a bit. That was for the first time in my life when I discovered investing. But the real eye-opening experience was still waiting for me ahead. That was crypto. It was in February 2021. I received my annual bonus and for the first time didn’t spend a penny. I invested all of it into BTC, ETH, and a few other coins. Since then I’ve become obsessed (hopefully in a good way lol). I believe that blockchain technology will change the world. It’s already changing it. And I don’t want to be a spectator in this process. I want to participate.
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Spending carefully & follow proper capital allocation of my funds.
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Instead of buying several bars of chocolate at a time, which end up being eaten quicker than I want to, I could simply not buy them at all when I do my weekly food shopping, and only get one when I have something to celebrate each month. If I buy them on a separate trip from my weekly food shopping trip, it will make me do an extra trip to the shops to get it; this extra step will really make me think about it before going.
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Start to run again to get more energy
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- I should quit these different fads and programs to reach a goal that would better be reached on a low time preference. Running as a lifestyle, making no excuses and just doing it and scheduling it into my routine has many layers of benefits (destressing, better health, toning, getting outdoors in nature, and building my cardiovascular system) as opposed to these diet fads that never really stick and stay with me.
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I could decide to put aside more money away savings. I could stop eating sweets. I could also excercise more
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Stop smoking could reduce my time preference from high to low.
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Propose a change you could make to one of your habits, that would reduce your time preference from high (instant gratification) to low (delayed gratification) time preference. It could relate to any aspect of your life (financial, diet, exercise, relationships or education).
I could cut back on drinking wine during the week and only drink on weekends. This will keep me healthy and on track with my workouts instead of feeling hungover 
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I have set out to budget my time more effectively this year. I do not believe I am indulgent and I believe I know what sacrificing entails, however, I think that eating healthier would help me to both lead a healthy life both in the present and the immediate future. I too love to exercise and at times I am guilty of over-eating at the weekend when I spend time with my loved ones.
2021-04-20T17:14:00Z
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Propose a change you could make to one of your habits, that would reduce your time preference from high (instant gratification) to low (delayed gratification) time preference. It could relate to any aspect of your life (financial, diet, exercise, relationships or education).
Invest more time spending to read and to educate myself. Kinda doing that now, but should diversify more.
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I need to go to the grocery store more often so I don’t waste as much money on food. This will lower my time preference with the delayed gratification of higher savings in the future.
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BTC definitely changed my life, I am responsible with money I don’t spend as much as I used to.
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- Losing all social media influence platforms that try to spam you with advertisement.
- Determining the 3 items that are highly important for you to have a good life.
- Complete step 2 and finish your yearly bucket list.
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i am guilty of spending the majority of money i make, this is a constant struggle and i am slowly starting to improve, i agree that this will lead to delayed gratification
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One of the habits I’d like to change to reduce my time preference is to quit day-trading my cryptocurrency assets as if it were forex. I’ve made a lot doing that, but I’ve also come uncomfortably close to losing a lot and I don’t think the potential reward outweighs the potential risk (especially in the long-term). As blockchain use cases begin to go mainstream, there’s no doubt that the cryptocurrencies which power them will continue to accumulate huge amounts of buying power, so seeking instant gratification seems like a futile effort.
Reminds me of that old J.G. Wentworth commercial where they literally sold billions of dollars in financial products to consumers who wanted their structured settlement payout in a lump sum. Those consumers were willing to - and did - give away up to a third of their settlement money in exchange for a lump sum check 
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