Ep #434: Delay Discounting

The Life Coach School Podcast

Brooke Castillo

Education, Entrepreneurship, Business, Self-improvement

4.8 • 9.2K Ratings

🗓️ 11 August 2022

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Instead of delaying the instant gratification of earning money right now, overdrinking right now, or overeating right now, we discount the benefits of waiting.

This is stopping you from achieving your goals and creating the results you truly want deep down.

Listen in this week as I share what delay discounting is and how it’s hurting your results. Discover how to train your brain not to delay discount, why there’s no need to rush anything, and the amazing transformations and results future you will enjoy if you master this skill.

Get full show notes and more information here: https://thelifecoachschool.com/434

Transcript

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0:00.0	You are listening to the Life Coach School Podcast with Brook Castillo episode number 434.
0:08.0	Welcome to the Life Coach School Podcast, where it's all about real clients, real problems,
0:14.8	and real coaching. And now your host, Master Coach Instructor Brook Castillo.
0:22.7	Hey my friends, how are you? I'm excited to be recording this podcast. I'm like in between
0:29.4	trips right now. I just got back from watching my son play golf in Chicago at the Western
0:36.0	Amateur and now we're heading to Lake Tahoe for our yearly trip on the lake. And all the crew
0:42.6	is coming. We're gonna have so much fun. I cannot wait. I love Lake Tahoe in the summer.
0:49.3	But I want to talk to you all about something. I want to talk to you about delay
0:54.6	discounting. This is a concept that I studied a lot when I was creating my stop over drinking
1:09.2	course several years ago. And it's one of those concepts that whenever I'm reading a book on
1:15.6	dopamine or I'm studying neurotransmitters, it comes up. And I was talking to one of my friends
1:21.3	about it. And I was asking him if he knew what it was. And he was saying he didn't. And my other
1:26.4	friend Alex, he was saying to me like he thinks the one thing that separates successful people
1:33.1	from not successful people or people who aren't as successful as they want to be is their ability
1:38.8	to delay pleasure. And the concept of delay discounting is actually super fascinating.
1:46.8	So basically delay discounting is when you discount something if you have to wait for it.
1:56.8	So it becomes less valuable the longer you have to wait for it. So the preference is for a smaller
2:04.5	immediate reward rather than a larger delayed reward. And I read lots of studies on this.
2:10.7	I don't want to get too lost in the weeds on it because I just want to talk about the concept
2:14.8	and how it applies to your life. But basically if you were to ask someone would you
2:21.2	rather receive $10 today or $15 in a week. Most people because that delay isn't that long
2:30.8	will wait for the $15. But if the $15 if you have to wait a month for it or you have to wait a
	...

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