Why procrastination costs you money

Darryl Bachmeier
Sep 14, 2020
Finance


Procrastination is when we delay things that MUST be completed. Yes, some things must wait. For example, you must wait for cooperation, information, permission and etc. However, some things must not be postponed. Procrastination costs you money, more than you think. It is important to understand this issue and to use techniques that will prevent you from wasting your money.

Most common reasons when procrastination cost you money

There are thousands of examples out there that can tell you why procrastination cost you money. The best thing is to know that every time you postpone something, it can cost you money! We have compiled a list of the most common reasons when and why this happens.

You will pay for penalties

This can be a very severe reason. You may have forgotten to complete a card payment or to renew your driving license tags. You will have to pay a penalty that can cost you between $20 and $1.000. There are many examples of this. But, you will still have to pay for the original expense which makes this reason one of the worst!

Not returning items you bought by mistake

Most of us will buy something that looks great only to find out that we don’t need it. A great example is a piece of clothing. You may have a dress that you bought, but you won’t wear it. If you postpone to return it, you will lose money. Yes, you can sell online, but never for the price you paid!

Postponing repairs and maintenance in your household

Failing to repair a leaky faucet or air conditioning filter may look like irrelevant things. But, these issues can cause more complicated problems. You may need an air blower or you will end up with a flood which will cost you thousands of dollars to sort it out. The situation is the same as cars or vehicles in general. Changing tires and engine oil are mandatory. If you wait, you can end up with more expensive repairs.

Buying things too late

You have bought a brand new smartphone but without a case. You dropped it and the screen is destroyed. Replacing the screen can cost you $500. A protective case will cost you $20. If you had a case, you wouldn’t end up with a broken screen. Here you can see how and why procrastination can affect you in the simplest of forms.

Poor organization of your home

You have so many things in your home that you cannot find the thing you are looking for. This means that you will need to replace it. If you have postponed cleaning the house or organizing it properly, now you know why and how this happens. The goal is to find something when you need it the most, so keep things tight.

How to prevent procrastination costing you money than you can save

An interesting fact is that there are thousands of examples we can use to explain how and why procrastination cost you money. However, there are only a few things you can do in order to prevent it. All of those things are explained below.

The sooner the better

If you don’t complete a task today, you will have to complete it in a few days. Odds are high that the same task will require more time and be more complicated then. Complete it today and it will be much easier. The reason why is obvious. Most tasks or issues will devolve in time so you will need more time and effort to sort them out.

Learn how and why you must complete a task ASAP

Teach your brain that when something must be done, it should be completed ASAP. Try to train yourself into completing the much-needed tasks on the same day. This is very effective training that can have a huge, positive effect on your money. People are not born to postpone anything. They just think this is an easier approach.

Break down the tasks into smaller pieces

If a task is too big for you and one day, break down it into pieces. For example, change the engine oil today. Change the tires tomorrow. It is important to complete that task but still having more free time.

There is no bad task

Some tasks are not pleasant. But, if you postpone them, they will get even worse. Consider doing those tasks as a way to save a lot of money and you will do it. Use the previous tip and it will make the tasks a lot easier.

Conclusion

Procrastination costs you money and it is the sad truth. Believe it or not, you are losing more money than you can imagine due to this issue. The only thing you can do is to stop postponing things and complete them as soon as you can. You will have more time and more money at the end of the month.

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