Can’t get no gratification? How to strike a balance between saving and spending

While there is huge gratification in achieving a long-term goal, such as a house purchase, it’s important to reward yourself along the way. Composite: Guardian Design/Stocksy United

From TV streaming services to online shopping to food delivery apps, instant gratification is a huge part of modern life. If we want it, it’s only a click away and getting it feels good. But instant gratification can be ruinously expensive, highly addictive and stop us from achieving our long-term financial goals.

“Smartphones and social media lead to endless scrolling with product placement and adverts delving into our subconscious, triggering the impulse to buy now,” says Rachel Jones, senior marketing manager at Coventry Building Society. “We have become a nation fixed on the dopamine hit of online purchases.” Delayed gratification – the idea of deferring something that we want – feels like part of an increasingly distant past.