Financial procrastination can cost you tens of thousands of dollars over the years. Whether this is from fines that you received because you paid your bills too late or from lost income, the losses can be significant.
Olivia Maragna, the co-founder of Aspire Retire Financial Services, has some advice on how to avoid financial procrastination:
- Automate your bill payments. Taking this simple step will ensure that you do not miss payments because of procrastination and can save you a great deal of money by avoiding late fees.
- Transfer money that you are hoping to save. If you leave cash in your account then there is a high chance that you will spend it, but if you put it out of reach then you will be far better placed to live within your means.
- Organise your superannuation fund. If you have worked a number of jobs then you will have a widely spread super fund. Consolidating this can increase the return that you get on it.
