Case Of The Procrastinator

Detective Case No. 19

Crime reported  5 / 2 / 2011 at 9:20 am

Detective Notes:

Unsolved Case – “Case of the Procrastinator”

Joe Felixstow

Joe Felixstow is a full blown procrastinator. He has been prone all of his life to put things off until another day and he is well aware that the other day never comes around. He always has what he feels are genuine excuses for not doing things so for the last 20 years he hasn’t achieved much in his life.

Now in his 40’s he is starting to think a little more seriously about his financial situation. He has realised that his habit of procrastinating is actually jeopardising his future. He has come to Money Detective to see what can be done. His case is known as the “Case of the Procrastinator”.

The Facts                          

• Joe Felixstow 46
• Recently divorced
• Two dependant children living with him aged 12 and 10
• Working full time as diesel mechanic
• Goals
  • Retire in his 50's (next 10 years)
  • Give each of his children a new car when they are 18
  • Pay off his credit card
  • Save a regular amount each month
  • Learn how to budget

The Investigation                                    

• Joe thinks about getting ahead but always talks himself out of getting anywhere
• He is great at telling a tale and has every reason under the sun why he isn’t doing what he knows he should be doing
• He has thought about -doing up a budget
                                  -saving some money
                                  -decreasing his rising credit card debt
                                  -putting some money aside for his children’s future
                                  -saving for his retirement
• Recent excuses for not managing his money well have been:
  • "I will start when the kids are off my hands”
  • “I deserve to spend up a bit as I just got divorced”
  • “I work hard so should spend hard”
  • “Life is short so I need to live it up to the fullest”
  • “I still have years left to get my money into order”
  • “I will start another day”
  • “I’ll be alright”
  • “I’ll do something with my money when I earn more” 

The Case Solved                                           

• Joe is certainly a full blown procrastinator. He knows that he should be doing better with his money and that the excuses he keeps coming up with are just that; excuses. He is aware that these excuses are holding him back and stopping him getting ahead.
• Working carefully with his money coach he has come to realise that through procrastinating and constantly coming up with excuses why he shouldn’t do things it is actually having a detrimental effect on his financial position.
• Through putting off things that he could have started years ago, it is actually costing him money and he is making the future journey harder and harder with each year that slips on by.

The Detective’s suggestion to help Joe is for him to:

• Write down all his previous excuses and throw them out of the window
• Set some specific and meaningful money goals
• Break these goals down into small manageable tasks
• Make today the day that he gets started instead of tomorrow
• Write down some jobs he is going to accomplish today, this week, next week, next month etc
• Imagine how he his going to feel when he starts to realise some of his dreams

The Money Detective Tools that Joe can use are:

• How to Save section of website

  How to Budget section of website

  How to Set Goals section of website

  How to Get Out of Debt section of website

  Individual Coaching Programme

  Group Coaching Programme

Detective Notes compiled by Detective Heather