Last week’s column which looked at several ways in which we sabotage our financial future by delaying important activities seems to have hit home with many readers. The quote ‘procrastination is opportunity’s natural assassin’ certainly rings true when it comes to our finances. Recently, I had yet another occasion to reflect on the dynamic relationship between time and money.
It was late Saturday afternoon when I received information that a family friend was coming to visit for a few days and would be arriving in less than three hours. In full-fledged panic mode, I thought about all the things that needed to be accomplished before I would be comfortable with having a guest stay in my house.
As I have acknowledged many times, procrastination has unfortunately been one of my more challenging vices. True to form, I had put off many little household tasks that could easily be ignored by my family alone; but with a visitor almost on my doorstep, these now became critical to my desire to be a successful and sociable host.
Launching an assault on procrastination
With the efficiency of an army strategist, I surveyed my home and zeroed in on all the areas that needed to be addressed for me to win this battle. In short order, I mentally designed a plan of attack to deal with all the unresolved tasks on hand. With precision and persistence, I tackled each chore until my mission was accomplished.
Two hours later, as I inspected my now acceptable home, it occurred to me that some of the things I had put off for months had been pretty simple to fix once I got started. I counted at least seven outstanding items that had been quickly resolved once I determined that they had to be done immediately. “That wasn’t hard,” I thought smugly to myself as I surveyed my victory site.
It then became obvious that the convenient excuse, “I don’t have the time,” that I often use to defend my lack of action, was just a sham. When my back was against the wall, time was no longer an issue, and I just focused on getting the job done. The end result was that I had successfully and effortlessly achieved my goal.
Procrastination is at the root of money problems
I started thinking about my past money problems and some of the issues that still stubbornly haunt me today. It became clearer that my propensity to delay in carrying out crucial tasks had also affected my finances. Too many times I have regretted how long it took me to take action on important goals.
Could our habit of procrastination be a main contributing factor to our economic woes? What if we were magically able to travel back in time and adjust our past so that we acted swiftly and decisively in all our decisions about money? Would this have created the success that we so desperately desire today?
Several months of chores, which had previously seemed almost insurmountable, disappeared with effortless ease as soon as I approached them with a determined work effort. I reasoned that if I consistently tackled all my financial objectives with similar vigour, then financial achievement might be just as simple to attain.
Time to get rid of all the excuses
Many of you may have had similar episodes with the debilitating effects of procrastination. As my recent experience showed, the ‘no time’ excuse can be destroyed if there is a sense of urgency. Put some pressure on yourself; acknowledge that if you don’t get started immediately to earn and save more, you’ll never be able to achieve that home, education or retirement that you desire.
Sometimes we procrastinate because we are waiting for everything to be perfect. “I’ll invest when I have a lump sum,” or “I’ll start my income-earning idea when I get a break at work”; these are only some of the excuses I hear constantly. In reality, there will never be a perfect time; just get started where you are right now, with the resources you have on hand.
Another reason that many of us delay in doing what we need to do is that we really don’t know how to accomplish what we want. You may want to get your finances in order or reduce your debt, but you have absolutely no idea how to get it done. Lack of knowledge doesn’t have to hinder you; seek information and advice from financial professionals, seminars, books and the internet.
Anti-procrastination resolution
Very soon, a new year will be upon us, and most of us will make ambitious resolutions to change for the better. One of the most powerful pledges we can make is to get rid of a major obstacle to our financial success – procrastination. However, let’s not wait for 2012 to make a start; let’s resolve right now to take immediate action to achieve our money goals.
Copyright © 2011 Cherryl Hanson Simpson. No reproduction without written consent.
Originally published in The Daily Observer, December 8, 2011
Read another article about Procrastination and Money:
DON’T MISS MY NEXT ARTICLE! CLICK BELOW TO RECEIVE IT IN YOUR EMAIL:
Cherryl is a money coach and business mentor, and founder of Financially S.M.A.R.T. Services. See more of her work at www.entrepreneursinjamaica.com and www.financiallysmartonline.com. Contact Cherryl