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Procrastination Makes for Easy Frugality

Procrastination Makes for Easy Frugality

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    We’re used to thinking of procrastination as a bad thing. We should avoid procrastinating; if we do something now, we don’t have to worry about it later. But when it comes to our personal finances, procrastination isn’t necessarily a bad thing. Sure, we need to get our bills paid on time, but by practicing putting off other expenses we can save money in the long-term.

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    Procrastination and Saving

    The longer we can put off a particular purchase, the more opportunity we have to save up for it. Some people like to replace certain items as soon as they show signs of wear: cars, clothes, equipment of all sorts. But that approach doesn’t get full value out of those things that we’ve already bought — and it makes it more likely that we’ll have to make a purchase on credit, paying more than sticker price when all is said and done. With a little creative procrastination, you can also increase your chances of buying whatever you’re after during a sale. If you can keep an eye on prices from a particular vendor for as little as a month, you can often take advantage of a sale.

    While nursing a car that’s on a downward trend isn’t great, it can get a few more months of transportation out of it. That’s a few more months you can be putting money in the bank for a down payment on a new ride. You can patch clothing or stretch the life of equipment and extend their utility in just the same way. Some people will argue that fixing up something broken will actually cost you more than purchasing something new: putting a new transmission in an older car can cost the same as purchasing another car entirely. I’ll admit that there isn’t really a way to put a patch over a broken transmission, but there are a lot of problems that you can solve with short-term fixes. Remember, you’re just trying to delay a purchase rather than avoid it entirely. If your car (or whatever you’re trying to procrastinate replacing) is to the point that it’ll be more expensive to replace in a few months — you’re expecting towing fees, an accident or a similar problem), then go ahead and replace it. But if the problem is along the ‘duct tape the mirror in place’ lines, try procrastinating.

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    Procrastination and Forgetting

    Making a policy of procrastination can plug a hole in your pocket. Most of us have wandered through a store and discovered that we really need something — maybe a new television or a book — that we didn’t even know we wanted when we entered the store. Stores are designed to create that feeling. There’s nothing wrong with wanting those cool toys, but it’s generally worthwhile to try to procrastinate buying them. Set a time limit: if you still really want that must-have product in three days, you can come back for it.

    You’ll find, though, that most of the time you’ll actually forget all about that item you absolutely ‘needed.’ Procrastinating is a way to limit unnecessary purchases without feeling like you’re depriving yourself. I’ve actually tried to make a policy of procrastinating about more than just impulse purchases. If I see something advertised that seems absolutely awesome, I don’t automatically add it to my shopping list or even my wishlist. If I still remember about it a couple of days later — then I add it to my lists. Procrastinating doesn’t mean that we can’t buy stuff — it just helps us narrow our purchases down to stuff we really want.

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    Procrastination and Renewing

    Waiting to renew subscriptions and memberships can pay off. If you put off paying for a renewal, you may find that you don’t really use the service you’re paying for all that much. And if you do like it enough to renew, it’s still worthwhile to wait to renew: because companies want to ensure that you’ll keep paying them, they’ll often offer deals to those customers with subscriptions or memberships about to lapse.

    My favorite magazine is notorious about this: the first reminder to renew that I received this year was for the full price of the magazine. But by the time I actually renewed, I had received several offers, each cheaper than the last. I only paid about $10 for the full year’s subscription — about a fifth of the normal price — and I didn’t miss an issue, since I received the first offer about six months before my subscription would have lapsed. This style of procrastination can take a little more planning than others — it’s useful to set yourself some sort of reminder of the last day you can take advantage of a particular deal or the last day you can renew without having to re-sign up for a service.

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    What Else Can You Procrastinate?

    I have noticed that procrastinating is only an effective strategy when it comes to spending money. If you’re trying to save or earn money, procrastination isn’t a practical solution. But within the spending category, it can be a simple strategy to keep money in the bank.

    I know that plenty of people have saved money through a little practical procrastination. Let us know the ways you’ve been able to take advantage of putting something off to save money in the comments.

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    Last Updated on November 18, 2020

    15 Tips to Restart the Exercise Habit (and How to Keep It)

    15 Tips to Restart the Exercise Habit (and How to Keep It)

    It’s okay, you can finally admit it. It’s been two months since you’ve seen the inside of the gym. Getting sick, family crisis, overtime at work and school papers that needed to get finished all kept you for exercising. Now, the question is: how do you start again?
    Once you have an exercise habit, it becomes automatic. You just go to the gym, there is no force involved. But after a month, two months or possibly a year off, it can be hard to get started again. Here are some tips to climb back on that treadmill after you’ve fallen off.

    1. Don’t Break the Habit – The easiest way to keep things going is simply not to stop. Avoid long breaks in exercising or rebuilding the habit will take some effort. This may be advice a little too late for some people. But if you have an exercise habit going, don’t drop it at the first sign of trouble.
    2. Reward Showing Up – Woody Allen once said that, “Half of life is showing up.” I’d argue that 90% of making a habit is just making the effort to get there. You can worry about your weight, amount of laps you run or the amount you can bench press later.
    3. Commit for Thirty Days – Make a commitment to go every day (even just for 20 minutes) for one month. This will solidify the exercise habit. By making a commitment you also take pressure off yourself in the first weeks back of deciding whether to go.
    4. Make it Fun – If you don’t enjoy yourself at the gym, it is going to be hard to keep it a habit. There are thousands of ways you can move your body and exercise, so don’t give up if you’ve decided lifting weights or doing crunches isn’t for you. Many large fitness centers will offer a range of programs that can suit your tastes.
    5. Schedule During Quiet Hours – Don’t put exercise time in a place where it will easily be pushed aside by something more important. Right after work or first thing in the morning are often good places to put it. Lunch-hour workouts might be too easy to skip if work demands start mounting.
    6. Get a Buddy – Grab a friend to join you. Having a social aspect to exercising can boost your commitment to the exercise habit.
    7. X Your Calendar – One person I know has the habit of drawing a red “X” through any day on the calendar he goes to the gym. The benefit of this is it quickly shows how long it has been since you’ve gone to the gym. Keeping a steady amount of X’s on your calendar is an easy way to motivate yourself.
    8. Enjoyment Before Effort – After you finish any work out, ask yourself what parts you enjoyed and what parts you did not. As a rule, the enjoyable aspects of your workout will get done and the rest will be avoided. By focusing on how you can make workouts more enjoyable, you can make sure you want to keep going to the gym.
    9. Create a Ritual – Your workout routine should become so ingrained that it becomes a ritual. This means that the time of day, place or cue automatically starts you towards grabbing your bag and heading out. If your workout times are completely random, it will be harder to benefit from the momentum of a ritual.
    10. Stress Relief – What do you do when your stressed? Chances are it isn’t running. But exercise can be a great way to relieve stress, releasing endorphin which will improve your mood. The next time you feel stressed or tired, try doing an exercise you enjoy. When stress relief is linked to exercise, it is easy to regain the habit even after a leave of absence.
    11. Measure Fitness – Weight isn’t always the best number to track. Increase in muscle can offset decreases in fat so the scale doesn’t change even if your body is. But fitness improvements are a great way to stay motivated. Recording simple numbers such as the number of push-ups, sit-ups or speed you can run can help you see that the exercise is making you stronger and faster.
    12. Habits First, Equipment Later – Fancy equipment doesn’t create a habit for exercise. Despite this, some people still believe that buying a thousand dollar machine will make up for their inactivity. It won’t. Start building the exercise habit first, only afterwards should you worry about having a personal gym.
    13. Isolate Your Weakness – If falling off the exercise wagon is a common occurrence for you, find out why. Do you not enjoy exercising? Is it a lack of time? Is it feeling self-conscious at the gym? Is it a lack of fitness know-how? As soon as you can isolate your weakness, you can make steps to improve the situation.
    14. Start Small – Trying to run fifteen miles your first workout isn’t a good way to build a habit. Work below your capacity for the first few weeks to build the habit. Otherwise you might scare yourself off after a brutal workout.
    15. Go for Yourself, Not to Impress – Going to the gym with the only goal of looking great is like starting a business with only the goal to make money. The effort can’t justify the results. But if you go to the gym to push yourself, gain energy and have a good time, then you can keep going even when results are slow.

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