Chances are, you procrastinate with at least one thing in your life…
As much as as I hate to admit, I do it more times than not ~ I procrastinate at home by telling myself I’ll clean the baseboards later… I’ll fold a pile of laundry later. I’ll even tackle organizing my kids rooms later.
I have gotten better though, over time – when you have several kids there is only so much you can procrastinate before it really comes back to bite you in the tail. So I try my best to just do things in the moment, and when it comes to household duties, it works out well 🙂
Procrastination is actually seen as a bad habit – when in fact, it can be beneficial – but not always. Only at certain times.
When it comes to saving for retirement, you probably don’t want to procrastinate – or it can cost you dearly. When it comes to keeping up the daily duties of your home, you may find that procrastinating hinders your ability to get ahead (and can make you feel overwhelmed.)
Lord knows that one should never procrastinate on laundry, because that.. well, makes for a very long laundry day.
But when it comes to spending money, procrastinating is actually a blessing. Over time, you will spend less money and be so much happier if you procrastinate properly.
Here are the reasons why:
1. You Might Change your Mind
Most people feel the urge to spend more times than not ~ when you want something, you find that you want it now, and you really don’t feel like waiting.
If you are a salesman, you might know that unless you get the customer to buy right then and there, the chances for them to buy the item once they leave are reduced – right? After all, they might want to think about it. By holding out on a purchase and procrastinating, you might find yourself changing your mind – and in turn, saving yourself quite a bit of money.
2. Waiting is Healthy
Think about all those times you wanted to make a purchase and you waited – you rarely regret not making that purchase. Right? Waiting can be difficult, but if you can delay that instant gratification experience of purchase, you might experience less regret with yourself, than those who jump right into a purchase.
It all comes down to being content ~ put the purchase in the back of your mind to ponder, and make your decision at a later time. You might find that your purchase was merely emotionally driven and not driven by necessity – and as we all know, buying things isn’t going to make you happy.
Being broke with things definitely won’t make things any easier either.
3. The Price May Drop
Procrastination may help prevent you from making an unnecessary purchase – but it can also help you in the aspect that the price might drop while you are busy pondering whether or not you should buy it.
If it’s a tech product, for example, prices can drop often ~ whether it be software (maybe a rebate will pop up?), OR.. perhaps things for your home. It could even mean that a discount rolls around in the area of 20-50% off that will allow you to save even more.
4. You Might Find Something that is Better Quality
Often times when you rush into a purchase, you might not put forth the effort into making sure the item is the best quality out there.. you might feel like you need it so desperately that you are willing to sacrifice on some aspects of the quality for your need it now mentality.
But you might find something else, perhaps with better reviews, that’s more appropriate, that’s JUST as useful and perhaps might cost less, by waiting. A bit of patience, and thought can sometimes lead to wiser purchases.
5. Buy Less, Save More Long Term
By buying your regular purchases less and making them work for longer, you reduce the need to buy as frequently. Don’t like your washer? Instead of going out and buying another one right now, make use of it for a few more years.
As hard as it is, if it works, then make it work for you. It’s just that easy.
Not only will you save yourself a few hundred, you’ll stretch out the frequency of purchasing and pocket that savings. Even with things you need, there can sometimes be an advantage in putting off the purchase
In the End..
Procrastination can be the path to take when you are in the buying mood. It couldn’t be more than true for tech items too – since a new gadget comes out almost every year, it makes the tech gadget lovers assume they need to scurry to grab the newest and most updated item. But if you wait, the price often times will plummet – perhaps not by much but enough to make it a little more affordable.
While procrastination isn’t always good … it can be helpful in some areas. By waiting for a designated period of time you will cut that impulse buy by a huge chunk of time, if not completely.
You might find that the item you really wanted .. isn’t really something you needed or wanted after all. Or, you might even find yourself buying something similar weeks later, that was cheaper and has better quality. After all, that break allowed you to research your options.
Although procrastination can be a good thing when it comes to curbing your spending, you have to be cautious that you don’t let it get out of control. If you delay putting away for retirement, you are only hurting yourself long term.