People who know me and work with me generally appreciate my ability to get things done. But, the key ingredient for that to happen is a deadline. Without one, the engine's idle.
What does that mean for my money? Often I'm getting things paid on deadline (or after!), not because I don't have the funds or wouldn't want to pay. But rather the ability to focus on the activity of paying is the hurdle. It's admin -- who get excited about that.
There's a price though. Especially when the unexpected comes-up, there may be no margin for error. Fees or penalties can rack up.
One story crystallised this perfectly. I had a trip to visit family that I wasn't 100% sure I could make -- partly because of work and partly because it was "extra." Time came and I could get away for those days, so I'm sitting at the airport. Then I realised, I hadn't completed the purchase of a return flight! Sitting at the airport and waiting for my outbound flight to be called, the return leg I bought was a one-way, last minute fare that was nearly as expensive as the rest of the trip together.
I wanted to preserve flexibility (beyond a reasonable limit), but that option did NOT come cheap!
What is your biggest struggle with money?
Procrastination.... I reconcile myself to paying more than I need to, because I'm focused on one thing at a time.
What is your tip to help others save?
Set-up payments, deposits, savings, etc. to happen automatically. This avoids late-fees and missed payments simply from getting too busy at the last moment. There's a lot of compelling data behind "nudge" thinking.
This money story was written by Anonymous.
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