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C2c The Power of Patience: A Global Longitudinal Study of Delayed Gratification and Its Impact on Financial Well-Being
Short Description
The ability to delay gratification has long been linked to favorable life outcomes, including
financial well-being. Yet, most existing evidence comes from small-scale or cross-sectional
studies, often limited to WEIRD (Western, Educated, Industrialized, Rich, and Democratic)
populations.
This study draws on longitudinal data from more than 207,000 adults across 22 countries and one territory who participated in the Global Flourishing Study, surveyed at two time points
approximately one year apart (2022–2024). We examined whether individuals’ propensity to
delay gratification predicted subsequent financial well-being, measured with four indicators:
financial security, material security, subjective perception of household income, and high-income
attainment. Country-specific multivariate regression models, adjusted for demographic and
childhood variables, were estimated and synthesized using random-effects meta-analysis.
Robustness tests were conducted.
Results showed that delayed gratification prospectively predicted greater financial security,
material security, and more positive perceptions of household income, but not actual income
attainment. Effect sizes were modest and varied across countries, with the strongest associations
observed in WEIRD societies and for subjective financial outcomes.
These findings highlight delayed gratification as an important, though culturally contingent,
predictor of financial well-being. They also point to the need for culturally informed consumer
education and policy strategies.
Type of presentation
Accepted Oral Presentation