It's no secret that disorganization and chaos cost you time, stress, and aggravation. Did you also know they can cost you MONEY too? Here are the top five ways you're losing money due to poor time management, procrastination and disorganization:
1. The OH CRAP Re-Buy
When you own something but you can't put your hands on it because it's "lost", you often give up and re-buy it. If it's a stapler, it's a pain in the behind, but hey it's only a few bucks. But if it's a power tool, a piece of jewelry, a mobile device or a piece of sports equipment, that could run you a few hundred or more. Oh crap!
2. The ARGGGH Late & Re-Start Fee
Paying bills late almost always incurs a late fee, and those folks like to make you feel sorry for what you did, so those fees are typically $15 and higher. Worse, if you neglect a utility bill long enough, they'll cut you off which means you'll pay a lovely fee to restart your services! Arggggh.
3. The HOLY COW Interest Rate
Everyone knows credit cards charge interest on your balance. That's how they make their money. If you're in the habit of paying credit card bills late (or not at all) you may get a surprise interest rate hike. I know people whose credit card interest rates have jumped to high double digits. Holy cow!
4. The OMG Last Minute Purchase
Buying items on sale and using coupons is a great way to make your dollar go farther. But in order to do it, you need to plan a little. When you let your stock of basic items dwindle to nothing, you're forced to buy what you need at the last minute, which means you'll pay whatever the retailer wants. You have no leverage. You can't wait for the item to go on sale because you need it TODAY and chances are you won't happen to have a coupon for that exact thing right now. So you end up paying retail simply because you didn't pay attention and buy before the last minute. OMG what a waste!
5. The DANGIT Wasted Food
Food is one of the largest expenses a family faces. If you keep your refrigerator, freezer, and pantry organized and you have a good rotation policy of using what you have, you can save a lot of money! But if you buy food and let it spoil in the fridge, let it languish in the freezer for years until it's unusable, or allow pantry goods to expire, you may as well just light your wallet on fire. Dangit!
There are other ways you're losing money through disorganization. What are they?
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