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The high cost of procrastination

June 23, 2014

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Do you avoid minor repairs until things are really broken? Do you know this actually costs you more in the long run? If you are trying to pinch pennies, cut corners and stretch a dollar as far as it will go, you can’t afford to let procrastination erode your budget. Let’s explore the major costs of procrastination.

Around the house. Procrastinating about minor home repair projects can drain your budget. Your power bill may be higher than necessary simply because you have put off projects, such as insulating doors and windows. You could save money if you took a little time to put energy efficient light bulbs throughout the house. Replacing worn out or outdated window treatments with thermal window treatments will save you money year round. Changing the heating or air conditioning filter is often a task that people neglect. However, not replacing a dirty filter increases your monthly power bill. Take a moment to look around your house and list the small energy saving repairs you’ve been putting off. Start working your way through the list. Each energy-saving improvement you do may inspire you to complete another one – without procrastinating.

Clutter. Clutter combined with procrastination can really dent the budget. If your cabinets, closets, garage, basement, office or other area of your home is cluttered, you probably don’t actually know all of the things you have in there. You may waste money buying something you already have but didn’t see underneath the clutter. If you procrastinate about cleaning the refrigerator or organizing the pantry, you may end up throwing away food that becomes outdated before you get around to using it.

Organizing your mail. Paying late fees is definitely a budget breaker. It’s worth the time to establish a system of organizing your incoming and outgoing mail so that important pieces of mail or bills do not get buried under an accumulation of stuff. Make this project an immediate priority on your list of things to stop procrastinating about.

Budget issues. One way to save money is to compare insurance rates and find the lowest cost available for the coverage you need. However, if you keep planning to compare but don’t follow through, you will continue to pay higher premiums. Meanwhile, it’s also important to make a cost comparison and locate the best plan for your phone, Internet and other monthly services that have companies competing to be your provider. 

What about making a budget? Procrastinating about that can cost you in many ways. If you see where your money is going, you may be able to make adjustments to reduce certain costs and spend more wisely. 

It’s easy to put certain activities, such as home repairs and budget planning, aside in favor of doing things you find more enjoyable. But when you consider how much your procrastination costs, you might quickly decide that home repair, clearing clutter, establishing a system to organize your mail and developing a budget are matters that deserve your immediate attention.


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