Can Procrastination Affect Your Ability To Make Smart Financial Decisions?

Trying to save money is hard. Whether you’re trying to keep your spending down, fund a new business or just save some money, there can be many potential stumbling blocks on the way to making good financial decisions.

One of the biggest problems could be procrastination, but with your life and your finances. Avoid paying the price for procrastinations with these tips.

Image by hufse / Flickr

Procrastinating On Payback

It’s all too easy to get your hands on credit cards and store cards, and they can help out when cash flow is low, but delaying your payment on these could be a costly mistake.

These cards are simple to pay off, and paying them off on a monthly basis is relatively painless but by missing a monthly payment you could quickly be hit with the headache of late payment fees and high interest. Don’t procrastinate on repaying your store cards or your finances will suffer.

Short Term Loans

One alternative to the above could be to take out a short term “payday” loan. These loans can offer money immediately if you’re stuck or you need a little financial boost to get through a difficult month.

Short term loans can come with some great interest rates that really work in your favour, and you’ll get your hands on the money quicker than applying to the bank.  However appealing they look, like the credit cards above if you don’t remember to pay them back on time they can soon become a big problem for you.

Getting Bored and Spending At Work

Whether your vice is books, clothes or even food; going out to flash the cash can help you avoid the most boring of tasks.

Sometimes you have to do something that bores you to tears, whether it’s university work, a job you hate or household chores. Spending money is a great way of taking your mind off of what you’re supposed to be doing. Internet shopping could quickly become a fun distraction when trying to put off an unpleasant task, it will become far less satisfying when you realise that shopping from work is already wasting the money you should be earning.  

How Can You Beat Procrastination? 

There are many ways procrastination can hinder your life and it can be a nightmare for your finances. There is a secret weapon for those of you that feel like procrastination pros. Making a to-do list and ticking things off might sound like a simple first step, but if you have important tasks like dealing with your workload or paying bills then ticking items off of a checklist could be a good visual reminder of any outstanding payments you might otherwise miss. With your list in hand, set aside some time to sit down and take care of your tasks, making sure there are no distractions.

You don’t have to let it ruin your financial goals. By giving yourself the time to tackle your to-do list and making sure you avoid distractions, you’re giving yourself a push towards a bright financial future. 

About Author | Amie is a digital finance blogger, who specialises in the payday loans industry. Her experiences include working for Short Term Loans Companies such as

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