5 Ways That Planning Ahead Can Save You Money

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planning ahead

Procrastination is something that many people struggle with, and what is even worse is when terrible time management strategies end up costing money.

Putting certain things off until the last minute is not the most efficient way to go through life.

Procrastinators are often stressed out due to their lack of dealing with issues in a timely manner, and they are often scrambling to take care of responsibilities at the last possible moment. If you are a procrastinator, it may be affecting more parts of your life than you think.

Your financial health may be impacted by this unfortunate habit. It’s time to start planning ahead and eliminate your procrastinating. Planning ahead can help you avoid stressful times in your life as well as save you money down the road.

Your Retirement


One of the most important financial investments you can make in life is saving for retirement. Procrastinators often don’t create a retirement account because of the very nature of their existence. If you want to be able to live a comfortable lifestyle well into your later years, you must plan ahead for this part of life and open some sort of retirement savings account. Neglecting to think about your senior years can leave you struggling during the most vulnerable part of your life.

Your Health


Many people experience additional medical costs each year beyond what their insurance covers. What you can do to plan ahead for these expenses is open a Health Savings Account, or HSA. Preparing for these expenses ahead of time for the year can save you money in the taxes you would have paid on that additional income. If you decide to skip this step, you could miss a great opportunity to help you with your yearly expenses.

Your Daily Expenses


Another way planning ahead can help you save is with your common daily expenses. For monthly bills, consider putting them on an automatic payment schedule. That way, you can never forget due dates and save money on late charges. For weekly meals, prepare a menu ahead of time, and buy all of your ingredients at one time. This can help if you are scrambling for dinner ideas at the last minute, which sometimes can mean a costly take out bill.

Your Insurance Costs


Planning ahead may also be able to help you save on your insurance costs. For all of your insurance products, such as car insurance, homeowner’s or renter’s insurance, and other coverage, you can plan ahead for the year by paying in one or two large payments. In most cases, paying at the last minute or monthly may incur additional charges on your account. Learn more about how you can bundle your insurance policies together to save even more during the year.

Your Debt


Finally, planning ahead can help you make a bigger dent in your debt. Avoid getting into credit card debt by paying off your entire balance each month instead of paying over time or waiting. You can save big on costly interest charges.

Being better planned in your life can help you reach your goals more easily. Getting out of habits where you tend to procrastinate can make your life be more efficient and your bank account bigger.

Photo courtesy of: Unsplash

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Kayla is a mid-20s single girl living in the Midwest, USA. She is focused on paying off her consumer and student loans, while simplifying her life and closet. You can join her on her journey at or follow her on Twitter @shoeaholicnomor.

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