Enemy Of Your Money #1 - Procrastination

Admin
Jun 13, 2017
3 min read

Procrastination - The most common cause of financial failure in America.

Procrastination is a dream killer in all aspects of our lives. And just in case you have been disguising your procrastination as patience like I used to do, its not the same! LOL By definition procrastination is the action of delaying or postponing something. We can intelligently argue that procrastinating appointments, phone calls, meetings, lunch, and countless other tasks that may seem unimportant when they're due, is justifiable. What's not effective is to ignore the consequences of the things that we procrastinate about. A documentary I watched about pregnant women brought up a scary fact about a baby early in its life cycle. The baby could literally die from not being picked up, or held, over a long period of time. Another similar epiphany was realized when I learned that if you were locked in a dark room from a young age, your eyes wouldn't develop properly, leaving you blind the rest of your life. Our mind and body are systems that function based on a set of rules. When those rules are broken, life can become extremely difficult as a consequence. Even more so, if an important aspect is ignored long enough it could cause life threatening results such as the young child never being held. The same principle will apply to procrastination. When you think about procrastinating in any area of your life, you must be aware of the consequences that can shape your future. In the area of money, procrastination over long periods of time can destroy your wealth. It can also prevent you from gaining enough momentum to ever get ahead. Here's a quick example:

The power of just one year later...

If a 30 year old invested $100 per month until 65 earning 10% compound interest per year; the end result would be $379,664.

Someone who's starting just 1 year later at age 31, would be at $342,539. Which is a loss of $37,125!

This scenario shows more than just a loss of $37,125. It shows a loss of opportunity that could've lead to $100,00's in additional wealth. Knowing the power of a 1 year difference is part of the solution for this financial enemy. If you chose to wait (procrastinate) after you have been made aware of the consequences, there's no help beyond this point. I do understand the feelings of overwhelm, confusion and lack of financial investment knowledge, holding you in place. However, instead of doing nothing or ignoring the facts, become more active at being a student of the financial system being used to make others wealthy.

Financial education is practically being given away today online and you must start somewhere in order to ever finish. Pick an investment area like stocks, options, real estate, cash value life insurance, online businesses, etc. Then focus ALL of your financial education in that area until you master getting extraordinary results there. This will ultimately take you to any financial status you desire, but it's critical to focus on one area because of the vast amount of information you need to absorb. Also there are online groups that you can join with successful investors in it, this will make it easier to uncover inexpensive but effective investment options in your focused area. You would benefit greatly from reading my 5FI E-BOOK | THE FIVE FINANCIAL INTELLIGENCES. You will gain a clear understanding of the curriculum required when learning how to become rich. With a clear guide of the financial skills you need to master, you can take action quicker and more often than before.

A lot of the reason that we procrastinate as humans come down to fear or a lack of interest. Since I am convinced that no one wants to be broke or poor, fear has stood out to me as the barrier of making financial decisions, in many case studies. Either the fear of being broke now due to lack of income minus expenses, or the fear of losing everything if the decision is made to go forth in a what turns out to be a bad investment. Either way, the only move through fear & procrastination is forward. You must do so with financial intelligence. In closing I will leave you with a bit of financial empowerment. Uber became worth billions of dollars in 8 years or less. They are humans with ideas just like YOU. What are YOU waiting for. 😃