memphis bankruptcy attorneys

Delayed gratification vs. instant gratification

By: Darrell Castle

There’s always something new and cool to buy – cars, TVs, nights out on the town, lavish beach trips – you name it! And there’s no problem with enjoying the nice things in life to the extent your budget will allow.


After you pay your bills, buy your groceries and gas up your car, then what? Are you SAVING?

This is where a key term comes into play, and really it’s a life philosophy – delayed gratification.

Delayed gratification is a rival to instant gratification. Do you need that new car now, or should you save your money, create a financial cushion and purchase it later with almost no risk of going into debt? That’s important.

When you choose delayed gratification over instant gratification, you are choosing financial freedom over debt.

The philosophy of delayed gratification is especially important for new college graduates entering the workforce. When you become used to a minimum wage, part-time job paycheck, it can be exciting to see a big full-time job paycheck. But don’t get carried away in that excitement. It can be just as easy to find yourself in quick debt as it can be to spend that paycheck. That’s why you SAVE!

By living a modest lifestyle out of college and minimizing your bills and expenses, you can save money, create that financial cushion and enjoy those luxuries LATER in life without the feeling of living paycheck to paycheck.

For some reading this, it may be too late. You may be in debt, either because you chose instant gratification or for some other reason. You don’t have to live your life enslaved by that debt – a bankruptcy will offer you financial freedom.

By filing for bankruptcy, you can discharge your debt through a Chapter 7, or you can lump all of it into an affordable 3-5 year repayment plan through a Chapter 13. By doing so, you’ll rid yourself of that debt and create more cash flow to start spending responsibly.

This is also a great chance for you to begin re-establishing and rebuilding your credit the right way, and at Darrell Castle & Associates, we have a 14-week program called “7 Steps to a 720” that will help you with that. This program is offered free to our clients.

The decision to file for bankruptcy can be a tough one, but the process can be easy with the right attorneys. My firm received the Client Distinction Award from Martindale-Hubbel for client satisfaction multiple times – which is proof of the great care you will get here. You need an attorney you can trust and one who’ll walk and talk you through the process.

Call us at (901) 327-2100 or fill out one of the contact forms on this page to schedule a FREE consultation with one of our experienced Memphis bankruptcy attorneys.