Are You a Financial Procrastinator?
Procrastination can wreak havoc on all aspects of life, including your financial well-being.
Whether you make late payments on your monthly bills or you continuously put off your savings goals, ignoring your fiscal responsibilities can lead to a doomed financial future.
Here are some tips to help you be more proactive in your financial life:
Don’t Wait Until Tomorrow For What You Can Do Today
When it comes to your finances, the first step to avoid procrastination is to address any tasks that come your way as soon as they are met. For instance, instead of putting your credit card bill in a pile on your desk, open it up right away and make a payment. There’s no sense in waiting until a later time to pay it off; you’re going to have to pay it eventually, and making a payment as soon as you receive the bill will ensure you don’t miss the due date. It might take a bit of time to make this a habit, but your finances will be much better off once you establish making payments right away.
Keep Track of Expenses
Keeping tabs on your expenses offers two benefits: it allows you to keep track of your spending and create a budget. For instance, when you keep track of how much you charge on your credit card every day, you’ll be able to control your spending better and make sure that you are making payments. When you know how much you spend, you will also be able to manage your budget better.
Set Up Automatic Payments
If you have trouble making payments on time, you need to take advantage of automatic payments. By setting up an automated payment schedule for your student loans, credit cards, and other debts, you won’t have to worry about making the payment on time, because it will automatically be made on the due date. Say goodbye to late payments and hello to better credit!
Accept That You Probably Will Never Feel Ready
Have you ever said, “I don’t feel like doing it right now” when it comes to paying your bills? If so, you need to adjust your way of thinking. Nobody ever wants to sit down and pay bills, but it has to be done eventually. Once you accept that you’ll never feel ready, you’ll make payments right away and avoid missing due dates and accumulating late fees.
When it comes to finances, positive reinforcement goes a long way. For example, if you normally make late payments on your credit card bill, take the money you’d have to pay toward late fees when you make a payment on time and put it toward your savings goal. You’ll be able to reap the reward of having more cash available when you need it.
Above all else, don’t be hard on yourself. It’s hard to break old habits, and you may make some mistakes at first, but turn them into a learning opportunity. For more tips on how to curb financial procrastination, contact Tayne Law Group, P.C. Our debt relief lawyers will happily offer you tips and tricks to get on track with your finances.Have you ever had to overcome financial procrastination? How did you do it? Let us know in the comments!