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Delayed Gratification Set Me on a Good Financial Path for Life

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I’ve lived by the, “Save early, spend later,” motto, influenced greatly by my pragmatic mom, since I first began earning money at a young age. I started with odd jobs like babysitting and refereeing hockey games, moved up to working at fast food restaurants, and, eventually, started my own cleaning and car-washing businesses.

At each step, I learned about delayed gratification: I could either spend my money on video games, sports equipment, and other material things, or I could invest it in my future. Fortunately, I chose the latter. 

In my early teens, I took all of the money I’d earned and put it towards a down payment for a condo. That choice and others taught me about saving and managing my money. They’re key lessons that everyone can use to achieve long-term financial security, and the good news is that it’s never too late to learn them. 

Making My First Investment

When I was fourteen years old, my hometown of Vancouver was in the early innings of a condo boom. My mom had picked up some part-time work with a good friend of hers who was a realtor.  One day, she asked me to go with her to look at a property under development. 

When she and I walked into the less than five-hundred-square foot show suite of the apartment, I knew in my gut that I would buy it. The deal was to put 10 percent down against the $150,000 purchase price upon signing and then pay 5 percent per year until completion, which was scheduled for three years out. 

 The purchase was a no-brainer for me. Although fourteen may sound young to buy real estate, by that time I had saved enough for the down payment, and I liked that it would be a forced savings plan over the next few years. Then, I thought, by the time I reached my late teens or early twenties, I’d have a place to live in or rent out for passive income. 

Buying the condo was my first real investment, and it was also the first step I’d take toward good long-term financial habits. Delaying gratification wasn’t a choice most fourteen year olds would make, but it’s one that, by its definition, paid off later. It’s also something that anyone at any age can practice to get more out of their money. 

“The ability to discipline yourself to delay gratification in the short term in order to enjoy greater rewards in the long term, is the indispensable prerequisite for success.” – Brian Tracy

Learning the Language of Money

Hearing my condo story, you might be wondering whether I made all the right decisions. The answer is “absolutely not.” Do I make all the right decisions today? Of course not. But making financial choices, whether they turn out to be right or wrong, lets you learn. 

Like it or not, money is another language. It takes time to learn the language and then it takes a lifetime to be fluent. When I hear some people say, when asked who manages their money, “I’m not good at it,” or “Someone else deals with that for me,” I speak up. I’m passionate about how pivotal learning the language of money is to one’s financial foundation. This specified literacy undoubtedly contributes overall to your life’s health and stability.

For example, I’ve never had credit card debt in my life; the debt I had—the mortgage for the condo—was on a hard asset. Just looking at the different interest rates convinced me to never take on credit card debt; while a mortgage could be 2 to 3 percent interest, a credit card is often close to 20 percent on the debt. Six or seven years later when I sold the condo, not only had I built equity in the property, it had more than doubled in value. 

Part of becoming fluent in the language of money is learning the difference between good debt (delayed gratification debt that will benefit you in the future) versus bad debt (money down the drain forever). If you can tell the difference, you can avoid many of the common money problems people face. 

Create Your Own Good Fortune

When I bought my condo, I admit I had some good luck with my timing as well as support from my mom. She committed to “matching” my contribution to the down payment and annual payments while I would be solely responsible for the mortgage payments. But I was in the game and willing to write the check into a long-term investment.

At that age, I could have gotten distracted by something shinier like a new car, but I put it all on the line for something I had a feeling would appreciate with time instead. The good news is that you don’t need luck or generous parents to start creating your own fortune. You can begin right now by delaying gratification, avoiding bad debt, and making financial choices that will serve you well in the future. You have all the opportunity in the world to build a life like mine; I just started a little earlier than most.

Brian Paes-Braga is a passionate entrepreneur who learned the value of hard work and humility from his parents. Brian realized that despite his financial success, he was personally bankrupt. This started him on a journey to balance his well-being with financial achievement, and today, Brian is an advocate for a more conscious kind of capitalism. A proven business leader who’s built multiple mission-driven companies, Brian is passionate about sharing his wisdom with younger generations to help them navigate the ups and downs on their journey toward authenticity and a meaningful life.

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Life

How Learning the Skill of Hope Can Change Everything

Hope isn’t wishful thinking. It’s a state of being and a skill that has profound evidence of helping people achieve success in life

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Hope as a skill
Image Credit: Midjourney

Hope isn’t wishful thinking. It’s a state of being and a skill that has profound evidence of helping people achieve success in life.

Wishful thinking, on the other hand, is like having dreams in the sky without a ladder to climb, having a destination without a map, or trying to operate a jet-engine airplane without instructions. It sounds nice but is impossible to realize. You don’t have what you need to make it happen!

What Real Hope Is

Real hope is actionable, practical, and realistic. Better yet, it’s feasible and can be learned.

One popular approach is Hope Theory. This concept is used by colleges to study how hope impacts students’ academic performance. Researchers found that students with high levels of hope achieve better grades and are more likely to graduate compared to those with less hope.

Hope can be broken down into two components:

  1. Pathways – The “how to” of hope. This is where people think of and establish plans for achieving their goals.
  2. Agency – The “I can” of hope. This is the belief that the person can accomplish their goals.

Does Hope Really Work?

According to Webster’s Dictionary, hope as a noun is defined as: “desire accompanied by expectation of or belief in fulfillment.”

As humans, we are wired to crave fulfillment. We have the ability to envision it and, through hope, make it a reality.

My Experience with Hope

For 13 years, I was a hopeless human. During my time working at a luxury hotel as a front desk agent earning $11.42 per hour, I felt the sting of hopelessness the most.

The regret of feeling my time was being stolen from me lingered every time I clocked in. Eventually, I decided to do something about it.

I gave myself permission to hope for something better. I began establishing pathways to success and regained agency by learning from self-help books and seeking mentorship.

Because I took action toward something I desired, I now feel more hope and joy than I ever felt hopelessness. Hope changed me.

Hope Actually Improves Your Life

Wishful thinking doesn’t work, and false hope is equally ineffective. Real hope, however, is directly tied to success in all areas of life.

Studies show that hopeful people tend to:

  • Demonstrate better problem-solving skills
  • Cultivate healthier relationships
  • Maintain stronger motivation to achieve goals
  • Exhibit better work ethic
  • Have a positive outlook on life

These benefits can impact work life, family life, habit-building, mental health, physical health, and spiritual practice. Imagine how much better your life could be by applying real hope to all these areas.

How to Develop the Skill to Hope

As acclaimed French writer Jean Giono wrote in The Man Who Planted Trees:
“There are also times in life when a person has to rush off in pursuit of hopefulness.”

If you are at one of those times, here are ways to develop the skill to hope:

1. Dream Again

To cultivate hope, you need to believe in its possibility. Start by:

  • Reflecting on what you’re passionate about, your values, and what you want to achieve.
  • Writing your dreams down, sharing them with someone encouraging, or saying them out loud.
  • Creating a vision board to make your dreams feel more tangible.

Dreams are the foundation of hope—they give you something meaningful to aspire toward.

2. Create an Environment of Hope

  • Set Goals: Write down your goals and create a plan to achieve them.
  • Visualize Success: Use inspirational quotes, photos, or tools like dumbbells or canvases to remind yourself of your goals.
  • Build a Resource Library: Collect books, eBooks, or audiobooks about hope and success to inspire you.

An environment that fosters hope will keep you motivated, resilient, and focused.

3. Face the Challenges

Don’t avoid challenges—overcoming them builds confidence. Participating in challenging activities, like strategic games, can enhance your problem-solving skills and reinforce hope.

4. Commit to Wisdom

Seek wisdom from those who have achieved what you aspire to. Whether through books, blogs, or social media platforms, learn from their journeys. Wisdom provides the foundation for real, actionable hope.

5. Take Note of Small Wins

Reflecting on past victories can fuel your hope for the future. Ask yourself:

  • What challenges have I already overcome?
  • How did I feel when I succeeded?

By remembering those feelings of happiness, relief, or satisfaction, your brain will naturally adopt a more hopeful mindset.

Conclusion

Hope is more than wishful thinking—it’s a powerful skill that can transform your life. By dreaming again, creating a hopeful environment, facing challenges, seeking wisdom, and celebrating small wins, you can develop the real hope necessary for success in all aspects of life.

Let hope guide you toward a brighter, more fulfilling future.

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Life

The 5 Stages of a Quarter-Life Crisis & What You Can Do

A quarter-life crisis isn’t a sign you’ve lost your way; it’s a sign you’re fighting for a life that’s truly yours.

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what is a quarter life crisis
Image Credit: Midjourney

The quarter-life crisis is a well-defined set of stages—Trapped, Checking Out, Separation, Exploration, Rebuilding—one goes through in breaking free from feelings of meaninglessness, lack of fulfillment, and misalignment with purpose. I detail the stages and interweave my story below. (more…)

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Life

Here’s The Thing About Learning, Unlearning, and Relearning

Stop hoarding and start sharing your knowledge and wealth for the benefit of humankind

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sharing your knowledge
Image Credit: Midjourney

Few people have the habit of hoarding their wealth without spending.  However, it limits their motivation as they tend to get into their comfort zones.  When people start spending money, then there will be depletion in their coffers. (more…)

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Life

3 Steps That’ll Help You Take Back Control of Your Life Immediately

The key to finding “enough” is recognizing that the root of the problem is a question of self-esteem and deservedness

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How to build self worth
Image Credit: Midjourney

“It’s never enough.” (more…)

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