Having resonated so strongly in recent times with the government’s DNU, the Decree of Necessity and Urgency, I decided to make an analogy with the individual financial situation of people to prevent procrastination from preventing us from having a year as planned.
May your decree be to save and invest!
Use your time wisely and organize your finances.
Let’s talk about Financial Procrastination
Procrastination is the tendency that human beings have to postpone or delay a task, postponing the specific decisions and actions that lead to its completion. Specifically, procrastinating is putting off until tomorrow or later what I should do today.
When we talk about the costs of procrastination, we can also refer to those that arise from the procrastination of our financial management. And these costs, which are economic, materialize in loss of money.
Leaving financial planning “for later” also undermines our profits: lack of organization can ruin our savings or investment opportunities that could benefit our long-term financial situation. What professionals call “Opportunity Cost”
Currently, postponing a task involves feelings of guilt and self-reproach; today the act of procrastinating is not free, much less pleasant.
In many cases, procrastination comes from the fact of postponing a task that produces anxiety, which can be related to the lack of knowledge and the fear that a possible error in making decisions produces.
In personal finances, it is common for technology and financial innovation to lead us to feel insecure in the face of ignorance. To this end, the best recommendation is to enhance financial education spaces to improve the capabilities and skills we need to guarantee our financial health.
In times of uncertainty the financial decisions we make are key.
Let’s not spend our lives waiting for better times!
There are excellent savings and investment options that surely include you!!
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by CEDOC