Are You a Financial Procrastinator?

Are You a Financial Procrastinator?

Nothing has the ability to ruin your financial wellbeing faster than procrastination. Whether it’s making late payments on a credit card, letting your monthly bills pile up, or putting off your next big savings goal, ignoring your fiscal responsibilities could spell doom for your financial livelihood.


Luckily, there are some simple tactics you can employ to help you avoid turning into a financial procrastinator.

1. Don’t Put Off Until Tomorrow What You Can Do Today

Say hello to your new mantra. The first step to avoiding financial procrastination is learning to be proactive; whenever you’re faced with a financial task you should tackle it right then and there. For example, instead of tossing your credit card statement onto the coffee table, open it and start the process of making your payment right then and there. It may take some time for this habit to settle in, but you’ll be better off in the long run because of it. 

2. Track Your Expenses

While the eventual end game of tracking expenses should be to incorporate that information into building a budget, monitoring your own spending habits is a great way to keep yourself from shirking your financial duties. For example, making yourself aware of how much you charge to your credit card day after day makes it hard to ignore your responsibility to pay it off. Keep yourself from putting your debts out of sight (and, thus, out of mind) and take tally of how much you spend every day. You’ll find yourself not only making timely payments more frequently, but you’ll spend a lot less too!

3. Automate Payments

When it comes to personal finance, there’s no greater safety net than automatic payments. Constantly missing or making late payments on a credit card or loan is a sure way to tank your credit score. By automating your bills every month, you’re ensuring that your money will go where it needs to be, when it needs to be there. 

4. Treat Yourself

A little bit of positive reinforcement can go a long way. If you’re still struggling to kick your procrastinating habits, consider coming up with little ways to reward yourself for good behavior. For example, considering putting a little bit more towards your next savings goal. That way, you’ll have a little cash bonus waiting for you at the end of your journey.  

Most importantly however, you have to avoid being too hard on yourself. Old habits die hard and you may slip up somewhere along the way. Mistakes happen, but we need to remember to learn from them, not let them drag us back into our old, damaging ways. Have you ever had to overcome financial procrastination? How did you do it? Let us know in the comments!

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