Improve Your Today. Better Your Financial Tomorrow.

We have been talking about financial procrastination, with a large percentage of Americans putting off important things they need to accomplish today, not tomorrow.  We put things off for a reason. This mostly comes from facing the fear that is causing financial procrastination. That's a subject for another time. 

I challenged listeners to focus on the actions they need to take today to begin ridding their lives of financial procrastination.  

In short, it comes down to making a list of the urgent and important things to get done today.  If not today, start today and work until you have started the process to stop procrastinating for good.  I sum it up with a phrase you can focus on as you strengthen your will to do things now! 

Improve your Today and Better Your Financial Tomorrow 

What actions could we take to better support this cause? Let's consider Stephen Covey's priority system from his book "The Seven Habits of Highly Effective People," a must-read that can change your perspective. 

He starts out with this grid of the four quadrants of time management.  First, keep this thought at the top of the list.  

In order to get rid of financial procrastination, you have to focus on what is most important to you.  Consequently, you have to spend your time being intentional with what you are trying to achieve.  

What could you do today to create a better tomorrow?  Let’s take a look at Dr. Covey’s 4 quadrants of time management. Basically, Dr. Covey says that we spend our time and our resources in one of a combination of the 4 quadrants.  He breaks it down into activities and results we produce based on how we spend our time and resources.   

We spend most of our time in one of four quadrants or a combination of those 4.  He then breaks them down into important and urgent or not important and not urgent.    

Quadrant 1 – Important and Urgent – We are putting out the hottest fire and practicing crisis management.  This is the result of a person with no intentional path forward.  This is where the highest areas of financial stress levels are formed and burnout is created.  

Quadrant 2 – Important but not Urgent – This is the sweet spot. This is where you want to be. These activities and financial habits make a difference and help prevent a crisis as well as helping you to always putting your values first.     

Quadrant 3 – Not Important but Urgent: People here are heading toward Quadrant 1.  

Quadrant 4 – Not important and not Urgent - I have always thought that Quadrant 4 was funny because he describes it as a place where you go to hide from Quadrant I.  He writes that this is where people go to escape the crisis.  If Dr. Covey were alive today, I am sure that he would say, "social media, anyone?” 

The only quadrant that makes sense is Quadrant 2.  All the other 3 are about escape, stress, damage control, looking busy, letting the day control you, busy work, etc. Obviously, this is not a place you want to be.  Obviously, we are taking the liberty to apply it to Financial Procrastination.  The concept can be applied to any situation.  

So, I want to challenge you to get the book and read it.  I want to encourage you to pray that God show you where you are spending the gift of today that could be a big impact on tomorrow.  If you find yourself in Quadrants 1, 3, and 4, figure out how to get out of those quadrants and move everything humanly possible to Quadrant 2 by eliminating bad habits.  That is something you can do today that will Improve Your Today and Better Your Financial Tomorrow. 

If you have further questions for Bob, please visit the Ask a Question page on www.prudentmoney.com and Bob will get back to you.

 Bob Brooks

Bob Brooks is a Financial Advisor and host of the Prudent Money Radio Show, heard every weekday from 4:30 PM - 5:00 PM on FM Radio 91.3 KDKR.

For questions and or comments, feel free to contact Bob at info@prudentmoney.com