Tuesday, September 11, 2018

How to Exercise More Patience

PatiencePatience is a virtue, they say. If your patience is being tested and tried, it can be hard to see what value you receive from your situation. Being “good for goodness’ sake” may seem like a low return on your investment of frustration, but in reality you gain significant value by exercising patience.

People often confuse patience with apathy or being a wimp, so I looked it up in a thesaurus and found an impressive variety of synonyms – words like composure, endurance, perseverance, poise, tolerance and self-control. None of those words suggest weakness or indifference – and in fact, those two words are actually listed in the thesaurus as antonyms (opposites) of patience!

Thursday, February 16, 2012

Does Your Credit Score Reveal Impatience?

Did you know you can tell a lot about a person from just their credit score?  You can certainly tell whether or not they may be credit worthy, but researchers contend that they can also tell if someone is likely to be more patient or impatient simply based on their credit history.

Economists from the Federal Reserve’s Center for Behavioral and Economics and Decisionmaking surveyed 437 people asking them whether they’d prefer a small reward now or wait for a larger reward later.  Those who were willing to wait for a larger reward later had credit scores that where 30 points higher, on average, than those who said they’d prefer a smaller immediate payment.  The findings also revealed that the most impatient subjects had average FICO scores below 620 – a commonly used cutoff for prime and subprime lending.

These findings underscore the truth in the old saying, patience is a virtue.  Impatience can wreak havoc in just about every area of our lives.  Our inability to wait or delay gratification often reveals the degree to which we are able to manage our emotions effectively.  If you struggle with impatience it’s well worth the effort to investigate ways in which to improve your ability to monitor and manage your emotions.  Your success may not only result in a higher credit score, but in healthier and more satisfying relationships at home and at work.

To begin getting a better handle on your emotions check out How to Exterminate Mental ANTs.

Live, Work and Relate Well!

Dr. Todd