Our fast-paced world demands instant gratification. We live in an age where you can have nearly anything you desire with just a few clicks or swipes. While this convenience is undeniably appealing, it often leads to impulsive spending, financial stress, and a lack of preparedness for the future.
However, the Save Now, Buy Later model can help you overcome the lure of instant gratification and pave the way for a secure financial future. In this post, we’ll explore the Save Now, Buy Later model and how the multipl app is helping individuals achieve their financial goals through goal-based investments.
The Instant Gratification Trap
Instant gratification is choosing immediate rewards or pleasures over long-term goals or benefits. It’s the reason why many people find themselves buying items they don’t need or can’t afford because it feels good at that moment. Instant gratification can lead to serious financial consequences, including high levels of debt, inadequate savings, and limited financial freedom, to name a few.
The ‘Save Now, Buy Later’ Mindset
The “Save Now, Buy Later” mindset motivates individuals to escape the instant gratification trap. Instead of succumbing to the temptation of immediate spending, this approach pushes you to prioritise saving and investing for your future needs and goals. Here’s how adopting this mindset benefits you:
Financial Discipline: Saving requires discipline and self-control, which are crucial skills for long-term financial success. It helps you resist the urge to spend impulsively and build the habit of responsible money management.
Goal-Oriented Planning: “Save Now, Buy Later” helps you to set clear financial goals. Whether it’s a dream vacation, your child’s education, retirement, or buying a home, having specific goals gives your savings a purpose and direction.
Reduced Financial Stress: Living on your salary with no savings or investments and constantly giving in to impulsive spending leads to stress and anxiety. Saving now for future purchases or emergencies gives you peace of mind and financial security.
Wealth Accumulation: Over time, consistent saving and investing accumulate wealth. By making your money work for you through investments, you can reach your financial and lifestyle goals more efficiently.
How multipl Helps You Save Now, Buy Later
multipl is revolutionising how individuals save, invest, and plan for their financial future. Here’s how multipl helps you embrace the “Save Now, Buy Later” mindset:
Goal-Based Investing: multipl helps you to create both short-term and long-term savings goals like Gadget Goal, Vacation Goal, Child’s Education Goal, Retirement Savings Goal, Down Payment Savings Goal, etc. These goals give a clear vision of what you’re saving for and help you stay motivated.
Personalised Investment Portfolio: Based on your time duration, purpose, and risk profile, multipl allocates appropriate mutual funds to your investment portfolio. Thus, your investments align with your goals with maximum safety and liquidity.
Automated Contributions: Using multipl, you can set up auto-investments from your salary account to your savings goal. In this way, you consistently contribute, even if it’s a small amount. Over time, these contributions add up significantly because of the power of compounding.
Brand Contributions: multipl partners with brands to help you in your savings journey. This innovative approach helps you to reach your goals faster.
Transparency and Control: multipl offers transparency and control over your investments. You can track your progress, stay informed about your portfolio’s performance, and withdraw your investments anytime with returns.
In a world dominated by instant gratification, the “Save Now, Buy Later” mindset offers a path to financial security and fulfilment. With multipl, you can break free from the instant gratification trap and take control of your financial future, one goal at a time.
Download the multipl app on Android and iOS today and embark on a journey toward achieving your dreams and aspirations. Remember, when you’ve worked hard and saved diligently, the satisfaction of buying later far surpasses the fleeting pleasure of instant gratification.