"Nothing is so fatiguing as the eternal hanging on of an uncompleted task."
William James
Do you ...
Avoid checking your bank account or opening bills?
File your taxes at the last minute?
Put off difficult money decisions?
Keep meaning to set up a savings account or ISA, but don’t get round to researching it?
Often find yourself in a state of analysis paralysis?
Want to understand your income and expenses, but just don’t get round to ‘sorting it out’?
If you do any (or all?) of these things, you are a financial procrastinator.
But why do we procrastinate when it comes to money, and how can we snap out of it?
Your relationship with your money runs deep ...
... and it’s never as simple as being 'good' or 'bad' with money.
You know that going through your statements / clearing your financial paperwork / budgeting / finding your old pensions / understanding your options / paying your bills / doing your taxes (*delete as appropriate) is something you know you should do, but are not actually doing.
And then the money anxiety sets in.
We’re overwhelmed by our financial tasks, or perhaps our lack of confidence in our money management skills leads to the cycle of avoidance tactics and procrastination. But the anxiety doesn’t go away.
When we live in a state of financial anxiety, we tend not to make good financial decisions. Plus putting off tasks can result in late fees, interest charges, and other unnecessary costs. It can prevent you from dealing with problems early when they may be easier to address. And perhaps worst of all, it can make you feel hopeless, like that stable financial future that you dream of will always be out of reach.
Please don't despair!
Can you overcome it? Yes.
Do you have work to do? Again, yes.
But once you get going, once you get started, I promise it really does get so much easier!
So, how can you tackle financial procrastination?
➡️ Start small
Begin with just one small financial task and start to build momentum. Celebrate small wins - they are the first steps to strengthening your financial position. You're on your way!
➡️ Get organised
Break big goals down into specific, scheduled steps. Don’t let that clutter of ‘so much to do’ overwhelm you into inaction. Write a list – everyone loves a list - and prioritise tasks to create a step-by-step plan.
➡️ Create a budget
Without an understanding of what comes in, what goes out, and how to pay yourself first, you will end up back in the procrastination cycle. Use apps, use spreadsheets, book a call with a financial coach (hi👋), and get that budget in place.
➡️ Heal your relationship with money
Sometimes, all this practical stuff is only a surface-level solution; sticking to a budget is extra tough when you’re ignoring the emotional root of your money habits. After all, we all have a money story, and it’s never as simple as “I’m bad with money.” Address the emotional aspects of your financial situation. reflect on your money story, increase awareness of those non-useful habits, and be open to creating new behaviours to support both the emotional and the practical side of money.
➡️ Be patient with yourself
Changing money habits takes time. Don't be too hard on yourself if you make mistakes. If you slip up, just get right back on track. Keep practicing and taking small steps to build financial confidence and make better decisions.
It's your choice.
⭐️ You can improve your relationship with money.
⭐️ You can get out of the rut.
⭐️ You can stop procrastinating and start on a healthy financial journey of calm, clarity and confidence.
You just have to get started.