Stop! Enough procrastinating. It’s time for some tough love. This week I am going to share with you what important money decisions you’ve probably been putting off and how to make it stop.
I get it. Personal finances seem boring, especially when it comes to the 4 ways you’re procrastinating with money and how to stop, but now is the time to embrace the practice of “adulting.”
The truth is these concepts are important and you’ll be extremely grateful later that you’ve done the hard work now instead of dealing with the negligence of procrastination when it’s too late.
Children do what feels good. Adults devise a plan and follow it.
The truth is when you are clear on your “why,” your higher purpose or vision for the future, you’ll do anything to make it happen and protect it. So, pay attention.
Procrastination Victim #1: Will
If you are 18 or older and whether you have dependents or not, you need to have a will.
This important set of documents tells the court what to do with you and your stuff rather than leaving it up to state law or the discretion of a judge. For more on this topic, check out “4 Ways to Make Sure Your Family is Protected.”
Connect with an estate planning attorney and get this taken care of ASAP. It’s not much work and you’ll be glad you did.
Procrastination Victim #2: Life Insurance
No one likes talking about death but you know what is exciting? Taking care of your loved ones!
I was relieved to find when my father passed away, he had a small policy to help take care of arrangements so my mom would not have to bear the costs.
What would have been even better is a policy that replaces his income. None of us are guaranteed tomorrow. Her life would be a lot less stressful now if that was the case.
Stop procrastinating and obtain a quote today. You can do so online in a matter of seconds. The usual process from quote to coverage takes a solid month, so stop wasting time on these basic money decisions.
This topic often turns people away because of all the tricksters out there so be educated on what kind of life insurance you should have and how to obtain it safely.
Procrastination Victim #3: LTD Insurance
LTD replaces your income when you are still alive but can no longer work. You can often obtain this through your employer and for a reduced rate if you work for a larger company.
Imagine a life where you cannot work and have no income. At best, you might get SSI (social security disability), but that’s not a comfortable income by any stretch.
Please, stop putting this off and make this one of the money decisions you accomplish. Be sure to check out “Long Term Disability Insurance Explained” for more information.
Procrastination Victim #4: Communication
Lastly, procrastination when talking about those money decisions. Maybe you have been putting off talking to your kids about money or their financial responsibilities? Maybe you haven’t been honest with yourself about these very issues?
It’s scary, I understand. You’re convinced others don’t understand, are afraid of how others will react, or are fearful of rejection. Everything you’ve ever wanted, though, is on the other side of that fear!
Unless you are in an abusive relationship, putting off these hard conversations will only do more harm. If you need help navigating these tough conversations, please reach out to me. I guide clients through these issues every day.
So, how do we stop the procrastination?
Make a Plan
Sit down and make a calendar. What gets scheduled, gets done!
Once you’ve planned but before you take action, get accountable with someone about your money decisions! Whether it’s a coach or a trusted friend, you need someone to help and encourage you.
Accountability is the secret ingredient to reaching your dreams. It’s up to you to break the cycle. So, make the wise money decisions now and find more money to fund your dreams.
Question: Are you procrastinating and putting these money decisions on hold? Don’t! Contact me today.
I hope you found this information helpful. Come join my FREE Facebook community, the “Strong Together Money Community,” to stay informed and encouraged as you break the cycle of procrastination. Also, check out my free e-book to gain additional tips on how to build a budget that will last.
Not sure how to break free of that cable bill without feeling like you’re missing out? You can cut those costs and still keep your content! For more information, check out my Cable Cutting Academy today!