Financial Laziness

financially lazyA lot of problems with finances are the direct result of being financially lazy. That is, you know what you should be doing, but you’re just too lazy (or have a convenient excuse) not to do it. And while life is certainly not about making sure every detail of your finances is perfect 24 / 7, most financial laziness comes in the form of financial leaks that could be solved with a small amount of time and effort. Here are 10 signs that you may be financially lazy:

1. You don’t pay off your credit card in full each month.
2. You pay banking fees.
3. You still have your savings in a brick-and-mortar bank.
4. You don’t compare your insurance rates once a year.
5. You have more than an occasional ATM fee.
6. Your phone service is over or under utilized.
7. You have subscriptions you don’t use.
8. You’re not contributing to an IRA.
9. You don’t contribute the full 401(k) match your company offers.
10. You haven’t done your taxes yet.

While this is certainly not an exhaustive list of where you can become financially lazy, it’s a good starting point to take a look at where you might be able to improve your finances. Financial laziness happens to the best of us and it’s good to get a reminder every once in awhile to get off your butt and do the things you know you should be doing.

This entry was posted in Budgeting, Credit Cards, Debt, Insurance, Investing, Personal Finance, Retirement, Saving Money, X Files. Bookmark the permalink.

6 Responses to Financial Laziness

  1. Lib4 says:

    Wow 7/10 ….better get off my ass

  2. I agree with your article in some cases. As a Consumer Advocate, I have worked with many who could have saved hundreds, even thousands of dollars. Unfortunately they did spend the 15 to 45 minutes to take care of their issues. They ask for suggestion, but say they were too busy to follow through.

  3. limeade says:

    Financial laziness has everything to do with your motivation. We need to have a real reason why behind what we’re doing; otherwise we’ll keep lapsing back into laziness.

    Good reminder.


  4. mike says:

    One thing I was curious about was your suggestion to use on-line banking vs brick and mortar banks.

    Are on-line banks “safe” to use?

    I had a problem at an old fashioned bank but at least I had a real person to talk to who actually took an interest in the problem and in resolving it.

  5. As a bankruptcy attorney in Chicago, I see many different people come through my office. It amazes me on the amount of money people spend on a day to day basis. Routinely people put down that they spend $500 a month on food, then make a point of putting down $300 ‘dining out’ in addition!! My God! If people learn how to cook, they would save $300-500 a month. While I know that people like to go out with family and friends, but when did dining out turn from a ‘special treat’ to a ‘necessity’ ? Same thing goes with gas and transportation expenses. It seems like some of my clients must drive around the neighborhood every day just to keep the car warm! If people realize what they are really spending on a day to day basis, I bet they would start making some changes to their lifestyles!
    Thanks for listening.
    Terrance Leeders
    Chicago Bankruptcy Attorney

  6. Tim says:

    ok, i disagree with the “you still have your savings in a brick-and-mortar bank”. i got a 10% interest rate at a brick-and-mortar cd. BAM’s can have some very good deals. now that doesn’t mean you should be keeping it in an account that only earns .1% when you can get 5% elsewhere. there are also other considerations, like if you get other benefits for having high deposits with a BAM or with any other bank for that matter.

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