Hi everyone. Thanks for downloading the Money Girl Podcast. I'm Laura Adams.

If you're like many people you have really good intentions when it comes to managing

your money but you just haven't followed through.

When you understand why you're not taking the initiative to improve your

finances, it's easier to break through roadblocks that are holding you back

from financial success. I'll cover four of the most common reasons why you procrastinate making smart money moves.

Now back to the four reasons why you might be procrastinating better money management.

Reason number one, you think it's too difficult.

When you think about doing something that you've been procrastinating,

like signing up for the 401k at work,

switching to a better bank account,

or refinancing a loan,

what typically comes to mind?

In most cases, if you haven't already completed the task, it's probably because you think doing it will be too time-consuming, confusing, or emotionally painful.

We tend to fixate on undesirable expectations more than a task's

potential rewards. I can't tell you that every smart money move is quick, easier, painless.

But I can tell you that it's always worth your time and energy.

One motivator that works for me is to consider the opportunity cost of doing something on my financial to-do list.

Opportunity cost is what you lose by not doing something.

For instance, if you haven't started saving for retirement

yet, consider this. If you contribute just $100 a month and get a 7%

average return for 30 years?

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