4 ms·
Time preference is a big component in life success. There's not a lot of practical ways to discuss this with a small child, so "save up for the bigger/better t
by Consultant32452 5y ago
Time preference is a big component in life success. There's not a lot of practical ways to discuss this with a small child, so "save up for the bigger/better toy" is what you get. If you have better ways to teach this lesson to your kids, I highly recommend doing it.
- ClumsyPilot 5y agoAs an adult, 'wait a year' is quite reasonable, but kids live in dog years, when i was a kid 'wait a month' felt like i have to wait untill i grow old and get reincarnated
- Consultant32452 5y agoStart with shorter time horizons. Do your kids earn an allowance? Pay them interest. Every dollar they still have at the end of the week, give them a dime. Be creative.