How do I introduce the concept of waiting and delayed gratification to a toddler?

Delayed gratification is a foundational financial skill, and it begins long before money enters the picture. Use natural opportunities: 'We can have a cookie after lunch' or 'We'll go to the park after we clean up.' A visual timer helps toddlers understand waiting. When they want a toy at the store, say 'Let's put it on your wish list' rather than buying immediately or simply saying no. The famous 'marshmallow test' showed that children who learn to wait tend to have better outcomes — but this skill is TAUGHT, not innate. Discuss developmental expectations with your pediatrician.