Why are we so tempted to go with immediate gratification, when patience could land us an even bigger reward? There are two primary reasons:

We Are Continually Triggered

Advertising temptations are everywhere. When we spend hours every day on our devices, we’re bombarded by literally thousands of impressions that continually exacerbate present bias. There’s an upside to paying for ad-free content – you’ll probably be happier with what you have.

Risk Aversion Kicks In

Most of us don’t like risk and there’s no guarantee that austerity now will pay off in the future. Think of the old saying “a bird in the hand is worth two in the bush.” About half of us run out of money before the next payday, so it’s hardly surprising we take the guaranteed reward today and enjoy it straight away. “Carpe diem” is present bias’s greatest ally.