Procrastination leading to devistation
by FinanceCookies - January 28th, 2009.Filed under: Savings and Habits. Tagged as: debt, finances, financial freedom, interest, procrastination.
I am probably the perfect person or worst to write on this subject, but here goes. When we procrastinate we are setting ourselves up for failure.
This could not be more true than with our finances. The scariest thing to procrastinate in that part of our life would be debt. Debt seems to find easy buddies, meaning more debt. If we get used to using money that we haven’t earned than we are in trouble. Why do you think there are so many people that take decades to get over the financial burden of student loans?
Whatever you pay on you debt now, is acutally saving you money in the future. It is interest that you are not paying. You can sleep, you can take the day off, but interest is just going to keep working against your financial freedom, unless you are making interest (huh, a topic for later examination.) Even if you are in debt and all you can pay is a little bit every month that is better than nothing.
What I recommend is to start paying something every month, now. If you get in the habit of doing it you will see you debt decrease and your financial freedom increase. Make the habit that will give you the confidence you need to know you can make it and you will!