Make your decisions in advance

Strategy 4: Make your decision in advance. If I offer to give you $120 in six months or one dollars now, which would you choose? What if I offered 120 in a year and a half or 100 in a year? Many people would choose 100 in the first scenario, but 120 in the second. Either way, I'm asking you to wait six months for extra $20. So why are people willing to wait when they already have to wait at least a year for their money? The reason is that when the options are closed, we tend to choose the smaller sooner reward, but when there is distance to either option, we choose the larger later reward. This example demonstrates one strategy to increase patience. Make the decision to wait in advance. According to the advanced decision technique, you will be more patient if you decide between the smaller sooner and the larger later options ahead of time when they are both scheduled in the far future. It's easier to wait an extra month for a better product or a better price when the waiting takes…