When you’re trying to save money, keep your spending down or trying to fund a new business there are many pitfalls which can limit your ability to make good financial decisions and procrastination in life and with your funds can be the biggest cause of this. Take my advice and do as I don’t in order to make better financial decisions.
When You’re Bored You Spend
We’ve all had jobs which bore us to tears, but University work, part time work or chores can always be put off by popping to the shops. Whether you’re vice is Topshop or the grocery store, spending money is a great way of procrastinating when you’d rather be doing anything but what you’re doing. Internet shopping is another major culprit, it’s easy to spend hours trawling the internet for anything other than doing what you’re doing, but just remember that although it might be a satisfying distraction, it’s spending money that you wouldn’t normally spend, and if you’re doing it whilst you should be at work then you’re already wasting the money you’re earning.
Putting Off Paying Back
Store cards and credit cards are easy to acquire and often a great help at times when cash flow is short, but remember they are super easy to pay back, which is what they are designed for. If you procrastinate on repaying your store card the likelihood is you’ll be lumbered with a big late charge and your finances will suffer.
Short Term Loans
An alternative to the above is to take out a payday loan. The interest rates on these can really work in your favour, if you remember to pay them back on time. Payday loans are a great way to get money quickly if you’re strapped or if your business needs a little financial boost, they also come with some great interest rates and you could get it much quicker than applying to the bank. The trouble comes when you procrastinate over paying these back, as they can come back to haunt you. If you pay back as soon as you can, and on time according to your agreement with the provider then these are a great option.
Procrastinating can hinder your life in so many ways, but the worst of all is your finances, but there are ways to change if you think you’re a typical procrastinator. Firstly, start making lists and ticking things off, it sounds simple but if you have tasks to complete like paying back your finances or completing your work then making a list and ticking things off can be incredibly helpful and satisfying too. Make time and take time, preferable in a quiet place to complete your tasks, set yourself a time for these and make sure there are no distractions. Finally don’t beat yourself up if you fail occasionally, your finances will do that for you.
Don’t let procrastination ruin your financial goals, set yourself tasks, lists and time to manage each of your financial commitments, and don’t get distracted while you’re doing it, or you’ll likely end up in the red.