It is difficult to imagine a person who gets unearthly pleasure when making another mortgage payment or paying taxes. But if you constantly postpone everyday financial tasks, for example, do not keep track of daily expenses, or every time you check the balance on the card, you experience real horror, perhaps you are a financial procrastinator. Let's figure out exactly what the problem is and what to do to solve it.
Look honestly at your financial habits. How often do you wait until the last minute before checking your bank account balance, paying for utilities, or filling out a tax return? Do you avoid making difficult financial decisions? If so, these are signs of financial procrastination, and it's worth seriously thinking about its causes.
Our relationship with money is complex in nature. It's not just that we "know how" or "don't know how" to handle them. Anxiety about the financial situation, deficit thinking, feeling overwhelmed by financial affairs, uncertainty about our own ability to manage our personal budget — all this can lead to the fact that we begin to use avoidance tactics.
In addition, when we live in a state of constant anxiety, we make bad financial decisions. This prevents us from fixing problems as soon as they appear, and in the end we only lose money. But the worst part is that financial procrastination deprives us of hope for a more stable financial future.
Take on one or two small financial matters that you previously put off. And develop the habit of immediately dealing with issues that are solved without much effort. If you berate yourself for bad financial habits, you run the risk of starting to make decisions based on fear.
Completing small tasks will help you step back and see your strengths in dealing with money, and this will give you the confidence you need to make smart decisions in the future. Small victories accumulate, and over time you will notice that your financial situation is not as deplorable as it seemed.
Break down big goals into specific steps, limited by time frames. For example, save a little every month so that you don't frantically search for the entire large sum that you borrowed for a year. To make it easier to stick to the plan, study different applications for personal finance management and choose the most convenient tool for you.
You will also need a suitable budget planning method. Try to start with a simple, intuitive rule "50/30/20", according to which 50% of income is spent on meeting needs, 30% on fulfilling desires, and 20% goes to savings and investments. If you don't like this approach, you can find any other one or even come up with your own.
Budgeting is only a superficial solution to the problem. It will be difficult to adhere to restrictions if you ignore the emotional nature of financial procrastination.
If you lack the knowledge to solve money-related issues, you can contact a financial advisor, ask questions to an accountant you know, or consult with a friend who understands the topic. If you understand that the problem lies in emotional or behavioral barriers, it is better to talk to a psychologist.
Your attitude to money is the key to paying off all debts and laying the foundation for material well—being. But getting rid of old habits takes time. If you didn't manage to act according to the plan today, come back to it tomorrow. Gradually, you will form new habits. The main thing is to regularly take small steps that will give you confidence that you are able to manage your personal finances competently.
