Replace Procrastination With Proactiveness

Understanding basic budgeting hacks and being mentally prepared to start your investing journey is sometimes not enough, because there lurks another part of yourself that can harm you—that's procrastination. It literally means the act of delaying a task.

- Ayush Khar

When it comes to investing, you could end up delaying your investment journey or financial planning for various life goals, such as retirement, or not buying life and health insurance well in time.

Some other financial tasks may involve delaying or avoiding paying off credit card or phone bills on time or filing your income tax returns (ITR) late. Delaying payment of equated monthly instalments (EMIS) may be another outcome of procrastination. It could also result in not calling up your loved ones regularly, leading to soured relations.

What Causes It?

Some common reasons for procrastinating money-related tasks could be confusion regarding processes, lack of awareness about choosing the right products, low degree of self-control, lack of motivation and shortage of time.