You overspend. Being too lazy to budget means you’re spending without a plan. It’s a situation ripe for big money mistakes. You need to put at least a little energy into calculating your total monthly income and bills and making sure you have enough money for all your expenses. You won’t know whether you need to cut back or make more money unless you actually review your budget.
You pay late fees. Not bothering to pay your bills on time or check your payment amounts can lead to expensive late fees. With credit cards, your late fee can be up to $35. Rent and mortgage late fees can easily be $100 or more. Some services may be disconnected and you’ll have to pay a lefty reconnect fee to have your services restored. Throwing away money on fees is wasteful, especially when you can set your bills for autopay.
You pay higher prices than necessary. If you buy on the spot because you don’t want to drive to another store or even pull out your smartphone to check prices, you could be spending hundreds more than you have to. Many stores match prices of competitors which means you can get the lower price without having to go to another store.
You miss billing errors. Don’t take for granted that your billers are going to accurately bills you each month. Being too lazy to read your bills means you could pay for transactions that you never made. Billers can sneak in fees or raise prices on services right under your nose. Review your bills each month to confirm you’re being charged the correct amount.
You keep memberships you aren’t using. Being too lazy to use the membership and too lazy to cancel it hits you twice. Cancelling most memberships only takes a phone call. If you have several you need to cancel, making one a day will yield more results than if you did nothing at all.
You miss out on rebates. How many times you do you choose a product specifically because it offers a rebate. How many times you have you put for energy to claim the rebate. Not sending in the rebate (which the company is hoping you will) costs you money. Send in rebates right away instead of waiting.
You keep keeping unwanted items after the return date. Once the return date is gone, you’re stuck with an item you have no use for. If this is a habit, you’re wasting potentially hundreds of dollars simply because you won’t put in the effort to take a product back to the store in a specific timeframe.
You don’t research better investments. If you have money to invest, but don’t take the time to seek out sound investments, you’re leaving hundreds, maybe thousands of dollars on the table. Active investing can help you reach your financial goals much sooner.
Fortunately, you have total control over your laziness. Build a habit of being more actively involved in your finances to combat your lazy habits and start saving money.