Don't Procrastinate, Plan Your Budget

We know that procrastination can be damaging, both in our personal and professional lives. “Never put off until tomorrow what you can do the day after tomorrow,” Mark Twain famously remarked. There are a number of theories about why people procrastinate, but whatever the reason behind it, procrastination potentially may cost money-especially when investments and financial decisions are put off. 


Developing a strategy or budget can help stop procrastination and help you pursue your financial goals. Financial discipline is about monitoring your spending and making sure you pay for things that need to be paid. The toughest part for most people is controlling their spending. If you cannot control your spending then no matter how much money you make it will never be enough.


Start by simply trying to follow your budget and set a goal. Once you’re able to do this, the next step is to be able to save money and say no to yourself when you have the urge to spend it. A firm financial budget proclaims the success of any financial plan. After planning out your budget, you are more likely to make timely bill payments, save up for big-ticket items and put money aside to purchase investment. 


Raymond C. Lantz, Jr. is the president and founder of USA Wealth     Group, Inc. Ray has many years of experience advising clients in retirement and sophisticated tax planning strategies, multi-family and commercial real estate projects, and legacy planning. Ray is a graduate of Clark University, holds a law degree from Boston College, and a master of laws in taxation from Boston University. You can hear him every Sunday on Money Wise with  Ray Lantz on WBSM 1420AM or on the Radio Pup app.